We're Pucked

Forbes magazine valued the Grizzlies at $294 million in December 2005. But to get the team, Memphis offered Heisley a package worth more than $400 million. The city of Memphis and Shelby County pledged $250 million for a new arena, Federal Express added $90 million for 20-year naming rights, and a local ownership group agreed to buy a minority stake in the team.

Even if Kansas City were willing to part with all of the stadium income, AEG would likely still need to find a local owner. That's something that AEG and the city have been unable to do.

Stepping up comes with a hefty price. Forbes valued each of the 30 NBA teams at an average of $326 million. NHL franchises range from $65 million for the Carolina Hurricanes to $325 million for the Toronto Maple Leafs, according to the magazine.

Last month, Barnes told the Star that finding a local ownership group isn't impossible. "That may be part of the equation," she said.

Gray, meanwhile, isn't so optimistic. He knows that the Chiefs and the Royals have out-of-town owners. "We tried [to find] local ownership," Gray admits to the Pitch. "We just don't have anybody in this market that's going to step up like that, in my estimation."

AEG faces no consequences if it fails to bring a team to Kansas City. The arena management company won't default on its contract with the city — as long as the city continues to believe that AEG is doing a good job looking.

AEG invested $50 million in the Sprint Center's construction and signed a 35-year management agreement to operate the arena. The contract calls for AEG to "use all reasonable efforts" to lure a team to Kansas City within three years "at no cost to the city."

In fact, if AEG does find a tenant, it may lose money. AEG gets all of the revenue from the Sprint Center's 72 luxury boxes and club seats at events such as circuses and college basketball tournaments. If it finds a tenant, AEG would likely have to give up some or all of that revenue.

Every luxury suite has already sold out, at an average price of $110,000. In a remarkable show of blind faith, corporations and wealthy Kansas Citians have opened their pocketbooks for the suites, even though they have no idea what events they'll be attending. AEG will collect more than $7.5 million a year.

The Pitch recently requested interviews with AEG representatives to detail what efforts they've made to bring a team to Kansas City. Michael Roth, AEG vice president of media relations, responded in a conference call with Sprint Center General Manager Brenda Tinnen. At times, they seemed optimistic that a team would come. Other times, they hinted that it wouldn't happen as promised by next fall.

AEG won't reveal which teams are in discussions with Kansas City. Roth said during the conference call that the secrecy is "out of respect for the cities where they already play and out of our agreement that we have with the leagues." But Roth assured the Pitch that "numerous discussions" have taken place between AEG and prospective NBA and NHL owners about relocating to Kansas City. "There has not been a single franchise that would ultimately be sold or moved that hasn't had discussions with representatives of Sprint Center," Roth said. "And furthermore, with the NBA and NHL clearly being aware of the Sprint Center, they are playing a role in properly positioning the building to teams that are realistically looking to move."

AEG has begun to press the city to consider a pro women's basketball team or a minor-league hockey team, Gray tells the Pitch.

Arena Football also remains a possible and unheralded tenant. Kansas City Brigade spokesman Rob Thomson tells the Pitch that the Brigade has had talks with AEG about moving from Kemper Arena to the Sprint Center. "The Kansas City Brigade and the Sprint Center have been communicating regularly about teaming together, and both sides feel very good about the direction it is headed," Thomson writes in an e-mail to the Pitch. "Although nothing is official yet, we are encouraged a deal will be completed and we certainly are excited to bring Arena Football and our passionate fans into the Sprint Center in 2008."

Gray says the deadline of getting a big-league team by October 2007 is realistic if the team is the Penguins — even though the chances of the Pittsburgh team moving to Kansas City have seemingly come and gone. "With anything else, probably not," Gray says.

In the recent interview with the Pitch, the Sprint Center's Tinnen sounded less hopeful. "Ultimately, it takes a little work, a couple of years to land a franchise, and we ultimately want to make the right deal with the right team for Kansas City," Tinnen says. "Ultimately, optimistically, it would be great to have a team for '07, but it may be the beginning of '08 before we get one. I just can't predict that."

When asked if any major announcements were on the horizon, Tinnen responded somberly: "No." She paused for a second and then added, "Not at this time."