Oklahoma City, Hornets at odds over revenue

OKLAHOMA CITY (AP) _ An official with the New Orleans Hornets' NBA team says Oklahoma City and partners backing the team's move will reap a $700,000 profit. <br/><br/>But a review of documents

Wednesday, May 31st 2006, 10:49 am

By: News On 6

OKLAHOMA CITY (AP) _ An official with the New Orleans Hornets' NBA team says Oklahoma City and partners backing the team's move will reap a $700,000 profit.

But a review of documents by The Oklahoman shows some city officials think the figure might be higher.

Records show that as of April, the team's total revenue was estimated at $41.9-million.

Team spokesman Michael Thompson says the $700,000 figure was calculated from a third-party audit. Those funds are on top of reimbursement of relocation expenses fronted by the city.

The proposed payment comes from a guarantee the city and a local partnership made to pay the Hornets up to $10-million if the team failed to at least match revenues in its last season in New Orleans.

But Tom Anderson -- a management specialist who represents the city in its negotiations with the team -- says the city isn't convinced whether $700,000 is all that the team owes.