Reportably, the Sonics have lost 60 million dollars recently because of a poor lease that runs out in 2010.
It's able to be reported, yes. The Sonics haven't "lost" $60 million as much as they didn't "earn" that money via things like parking, concessions, and other side action that other NBA teams were wise enough to secure. Don't blame the lease, blame the dumbasses who agreed to it.
I grew up 35 miles south of Cleveland and I was still living at home when the Browns franchise defected to Baltimore. The outrage was palpable among both fans and civic leaders. Had the Indians not been dominating the American League at the time, I'm fairly sure Cleveland's unemployment rate would have plummeted as a result of all the people who killed themselves due to depression and left their jobs for other people to take. I actually saw people who spray painted their own cars with messages of hate for Art Modell - lots of "Traitor Art" and "Modell loves Money" type jive. The thing that stung the worst was Ozzie Newsome going with him and the eventual success of the Ravens. I haven't cared about the Browns since "they" came back. It was a nice gesture to let the city keep the name, colors, record book, etc.
People forget that there were rumors the Indians would leave town as well and set up shop in the Tampa/St. Pete area. "Major League" is not a work of pure fiction, friends. But then the Gateway project was approved and we got Jacobs Field. Too bad the Cavs moved as well, because their new arena is already out of date and just barely of higher quality than Ohio State's new basketball barn. The Richfield Coliseum was a great place to watch basketball, hockey AND indoor soccer. To me, taking the Cavs, Lumberjacks and Force out of Richfield was more personally affecting than taking the Browns out of Cleveland because it was a quick 20-minute drive along back-country roads to get to the Coliseum whereas downtown Cleveland was a 45-minute odyssey into unfamiliar territory. When you're 17 years old, a move like that basically puts your team on the other side of the continent.
Between the relocation of teams and the frequent transfer of the athletes themselves, Seinfeld was right: We're really just cheering for laundry.