Allen completes repurchase of Rose Garden

Basketball Betting Lines

04/02/2007 -

PORTLAND, Ore. (AP) - The Rose Garden officially belongs to billionaire Paul Allen - again.

Allen's investment company, Vulcan Inc., said Monday it had completed the acquisition of the Rose Garden Arena under a purchase agreement with Portland Arena Management, the former owner.

Financial terms were not disclosed.

Allen built the Rose Garden for his NBA franchise, the Portland Trail Blazers, who had outgrown their old home at the aging Memorial Coliseum. Allen, who co-founded Microsoft with Bill Gates, also owns the NFL's Seattle Seahawks.

But Allen chose to give up Rose Garden ownership in bankruptcy proceedings in 2004 rather than pay interest on construction debt. He financed the arena without public funding.

``This is a major milestone and a positive step for the franchise,'' Allen said in a statement released by Vulcan.

Allen shopped for a buyer for the Trail Blazers last year. As the team wrapped up one of the worst seasons in franchise history, he publicly complained the Blazers were suffering financial problems.

But his decision earlier this year to repurchase the Rose Garden signaled a turnaround for the team as Allen abandoned sale plans.

``My efforts are focused on continuing to support the Trail Blazers and the long-term financial health of the franchise,'' Allen said.

The $262 million Rose Garden Arena opened in the fall of 1995 and seats about 20,000. It also hosts concerts and other events, and is the home of the Portland Winter Hawks, a Western Hockey League team, and the Portland LumberJax of the National Lacrosse League.Copyright © 2005 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.

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MySportsbook.com: NBA Championship Odds

With the playoffs about two months away, the top two teams in the Western Conference are the clear cut leaders to win the NBA Championship. The Dallas Mavericks have the best record in the NBA (44-9) and have been absolutely scorching since the second week of the season.  What makes the Mavs’ record more impressive is the fact that they dropped their first four games of the season.  Currently they have won 17 out of their last 18 and are MySportsbook.com’s favorite (2-1) to win it all.  Right behind the Mavs are the Pacific leading Phoenix Suns (39-13).  Last season, the Suns lost in the Conference Finals to non-other then the Mavericks four games to two.  Of course the Suns were without center Amare Stoudemire who has is averaging 19.9 PPG and 9.5 RPG since coming back from his knee injury.  Unlike the Mavs, the Suns have struggled a bit lately having lost their last three and four out of their last seven.  Of course the main reason for their three straight loses is due to the absence of two time MVP Steve Nash, who is out with a shoulder injury.  Heads-up, the Mavs have beaten the Suns in both of their meetings this season.

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Just because it is the All-Star break doesn’t mean that you can’t bet on NBA hoops this weekend.  Be sure to log onto MySportsbook.com to bet on who you think will cut down the nets this July. Also, be sure to check out all of the lines and props for All-Star weekend.  With the highest credit card acceptance rate in the industry, there are plenty of ways to cash in on the NBA this weekend.

MySportsbook.com’s NBA Championship odds:

Atlanta Hawks 1000-1

Boston Celtics 5000-1

Charlotte Bobcats 5000-1

Chicago Bulls 20-1

Cleveland Cavaliers 20-1

Dallas Mavericks 2-1

Denver Nuggets 25-1

Detroit Pistons 6-1

Golden State Warriors 250-1

Houston Rockets 12-1

Indiana Pacers 60-1

Los Angeles Clippers 45-1

Memphis Grizzlies 5000-1

Miami Heat 9-1

Milwaukee Bucks 1000-1

Minnesota T-Wolves 200-1

New Jersey Nets 50-1

New Orleans Hornets 150-1

New York Knicks 150-1

Orlando Magic 75-1

Philadelphia 76ers 1000-1

Phoenix Suns 5-2

Portland TrailBlazers 1000-1

Sacramento Kings 250-1

San Antonio Spurs 9-1

Seattle Sonics 5000-1

Toronto Raptors 35-1

Utah Jazz 20-1

Washington Wizards 25-1

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