Wednesday, May 18, 2011

NBA for Moores?

Forbes reports that Padres owner John Moores has made an offer to buy the Atlanta Hawks. Only two winters ago, amid a complicated divorce from his wife, Moores put up the Padres in a distress sale. With Bud Selig's sanction, the deal was approved in the spring of 2009. A few baseball execs and agents later told me the distress sale, reportedly worth more than $500 million, looked from afar like a sweetheart of a deal for Moores. The NBA may be headed toward a lockout, which could change the economic terms for owners in 2012. Moores bought low on the Padres, putting up $80 million for them in 1994 while a labor stoppage gripped the industry. In the previous season, the Padres were last in attendance and win-loss record.

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