Reasons Behind The Sell Of The Phantoms

As I was perusing through this morning's Inquirer articles online, I came across an interesting article on why the Phantoms were sold, and the answer is not just because the Spectrum is being torn down. And seeing as other than the A-Rod story that I refuse to shove down your throats any more than is already done by TV news everywhere and other websites, I figured I would share it with you.

The plucky Phantoms minor-league hockey team had trouble earning profits in recent years as attendance dipped, and the franchise faced other economic issues.

The team needed a new ice arena, which would cost $60 million to $80 million.

Meanwhile, the team hadn't found a critical mass of cable viewership because the franchise competed with the popular Flyers in the local television market, a sports media executive close to the situation said.

The most pressing problem was the fact that the Phantoms' home, the famed Wachovia Spectrum, is expected to be torn down for a development of stores, clubs and hotels in 2010.

Peter Luukko, president of Comcast-Spectacor, said yesterday a new ice arena would need public assistance and "there wasn't a local municipality prepared to spend that kind of money and we did not politic for it."

The Phantoms' attendance slipped somewhat in recent years and a modest profit had become a small loss, Luukko said.

Comcast-Spectacor announced last week that it had reached the agreement to sell the Phantoms franchise to the Brooks Group of Pittsburgh. It is not known where the team will move.

Comcast-Spectacor, which owns the Flyers and 76ers, brought the Phantoms to Philadelphia in 1996, when the Flyers' and Sixers' new arena opened in South Philadelphia. The minor-league team put the Spectrum to use for about 40 nights a year. Other events in the Spectrum included the circus, concerts, college basketball and Kixx soccer.

With an average ticket price of about $11, the Phantoms offered hockey fans a cheap alternative to the Flyers. Luukko said he was pleased with the Phantoms and he probably would have kept the team going for a few years in Philadelphia if it weren't for the Spectrum redevelopment.

Sorry for the length of that blockquote, I just felt that there was a lot of good stuff in there and I could not really think of a place to cut it off until deep into it. It will be interesting to see where they eventually end up locating and I will follow that story for you and give you word as soon as I find out in the coming months or so.

Why The Phantoms Were Sold (The Philadelphia Inquirer)