Just Say No (goodbye)

What is a sports franchise? It is a toy for millionaires and billionaires. The Portland Trailblazers are no exception. They are owned by Paul Allen, one of the worlds richest men. Mr Allen now has a bigger and shinier toy, The Seattle Seahawks, so he has tired of the money hemorrhaging Trailblazers.

Portland Trail Blazers president Steve Patterson has been meeting with top state and local government officials in recent weeks to discuss the possibility of a public-private partnership.

Although Patterson refused to specify what the team has in mind, he said the NBA franchise, owned by billionaire Paul Allen, needs public aid in order to survive in the Portland market. When asked whether the team would consider moving if it does not secure public assistance, a spokesman said that was a question for Allen.

The team, which has lost hundreds of millions of dollars since Allen bought it in 1988, already met with Gov. Ted Kulongoski and Metro President David Bragdon. A Blazers executive also had a phone conversation with Multnomah County Chairwoman Diane Linn, and Patterson is scheduled to meet with Portland Mayor Tom Potter today.

Why are the Blazers loosing money? In a word they have been mismanaged. The Blazers and in fact the NBA in general are no longer a product that is worth the money. The result is high paid players and empty seats. Don't give them a penny of my money. If they threaten to leave just say goodbye.
Update
I'm not alone; Memo to Paul Allen and read the comments here.