I'm your huckleberry
Tuesday September 2nd 2014

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Open Challenge to CMP naysayers

Find any agreement between a team owner – any professional sport at any level – in the United States where:

1. The owner gives all team profits to City or its agency (like CMPA).
2. The owner signs a 10-year lease agreement that he personally guarantees and buys a life insurance policy to cover it if he dies. The lease payments have to be made even if the team folds or moves elsewhere.
3. The owner guarantees profits of $250,000 a year for the first five years that he will give to the City or its agency.
4. The owner will give all profits from the sale of the team to the City or its agency.
5. The owner agrees to build an office building next to the stadium for nearly the cost of the stadium, pay fair market value for a land lease for the building and pay property taxes on the building.
6. The owner gives $2.25 million to the project – The donation has been made to UWF for the maritime museum, but it goes to CMPA if the museum isn’t built.
7. The owner takes no salary from the team.

If you find a better agreement with longer terms and more guarantees, I would like to see that, too.