Most hockey teams can stay out almost indefinitely because they lose less money by not playing than by playing. That's not true for baseball. I think the majority of owners know that the value for them is keeping the gates open.

I think it would be terrible from a public relations point of view for someone to come in and be seen as poaching one of these teams.

An uncapped year could wind up being a total mess.

For an NBA sponsor, the worst nightmare is to have two small-market teams in an NBA Finals. If it's an anomaly, the league will be OK, but if it's a trend that continues, it's not good if the top media markets aren't well represented. The problem, of course, is the league can't do anything to control this.

I expected the hockey fans to want hockey. The question is will they be able to expand the business, ... The stronger teams are going to be in good shape. We'll see what happens to more marginalized franchise.

I think there's more interest in the league right now, but it's on a franchise-by-franchise basis. It depends on the market, ... If you're in a good market, the collective bargaining agreement helps you a lot. If it's a marginal market, with a bad building deal, small season ticket base, I would say wait and see.

This is a very interesting asset being created that is creating a lot of value for baseball. The only problem is you can't project 20 years ahead in terms of growth rates.

If you have limited resources, where do you put your money? ... I'm a sports guy and my interest is supporting (sports) buildings. But even I have to say worrying about stadiums is way down the list.