Home > Economics - General, Sport > Farewell to the Bullets

Farewell to the Bullets

June 30th, 2008

For quite a few years now, I’ve been following both the fortunes of the Brisbane Bullets and those of an economic system centred on high levels of debt, validated by capital gains. These two interests have collided in an unfortunate fashion with the announcement that the Bullets license has been returned to the National Basketball League. This has been more-or-less inevitable since the owner, Eddy Groves, ran into financial difficulties arising from the impact of the credit crisis on his childcare group, ABC Learning.

I’ll doubtless have more to say on the credit crisis, and perhaps on whether private ownership of sporting teams is a sustainable model for Australia. But for now I’d just like to say thanks to the players and staff of the Bullets for providing me and my family with lots of fun and excitement over the years I’ve lived here in Brisbane, particularly in their last championship season 2006-07.

Categories: Economics - General, Sport Tags:
  1. Spiros
    July 1st, 2008 at 09:49 | #1

    This wouldn’t have happened in the United States. The Bullets would have been protected by the 2nd Amendment, and played on forever.

  2. Al
    July 1st, 2008 at 14:20 | #2

    Perhaps the Bullets demise will trigger an investigation into the sustainability of the NBL’s business model into the future.

    I for one can’t understand why the league persists with a season that begins during footy finals, and finished when footy season begins again (when it is arguably more popular). This is a major reason as to why the NBL can’t secure free-to-air TV rights or consistent major sponsorship, which in turn impacts on its profitability and allure as a business opportunity.

    I’m not saying this is the be-all and end-all of owning an NBL franchise (i think basketball is small enough for community involvement to have a significant role), but it surely plays a part when would-be investors do their due dilligence.

  3. Iain
    July 1st, 2008 at 19:32 | #3

    Best bullet ever?

    Loggins, Heal, Cal, Rucker, Ebi?

    Personally I always had a soft spot for big Johnny Dorge – always good for a laugh when he travelled in the key and then rimmed out easy dunks after the whistle.

  4. jquiggin
    July 1st, 2008 at 20:47 | #4

    Rucker was great and unlucky never to be in a championship side. In addition to your list, Larry Sengstock was a big star in the early days (before I followed NBL). Overall, it’s hard to go past Leapin’ Leroy.

  5. Ikonoclast
    July 2nd, 2008 at 09:22 | #5

    In relation to the Bullets, I think we could say “the unsustainable has run its course”. Australia simply does not have the base to support so many professional teams in so many professional sports as it does now. After all, we have Rugby League, Rugby Union, AFL, Soccer, Basketball, Cricket and Netball to name perhaps the main ones.

    With the soon to come economic crash, economic austerity and even “long emergency”, as Kunstler predicts it, there will simply be no time or money for the fripperies of paying over-specialised people (tall, heavy, strong etc) to belt balls or each other and call it sport.

    Having said that, I will watch the “Origin” tonight. It’s always fun watching NSW get belted! I have as many atavistic impulses as the next person.

  6. Ikonoclast
    July 2nd, 2008 at 09:29 | #6

    And I might add, I was from the first astonished by the naivity of the Sydney Kings (I think it was) and Western Force (Rugby Union) accepting Firepower as a sponser. That chicken has come home to roost now of course.

    It was always obvious (to anyone who knew basic physics, basic chemistry and basic business practice straight and crooked) that Firepower was based on a totally shonky premise, namely the “magic pill” that would improve power and economy from fuel. Good grief! Do people still fall for that?

  7. July 2nd, 2008 at 21:27 | #7

    How does one ascertain the value of owning a sports club if there is clearly no market?

Comments are closed.