Cough Up Some Bucks Jerry for the Laker Victory Parade

In January, Pittsbugh mayor Luke Ravenstahl and the city council briefly toyed with the idea of canceling the Superbowl champion Steelers victory parade. The reason: cost. They'd have to foot the estimated half million dollar tab to pay for it. City officials just couldn't see any way to justify shelling out the cash when they had to slash city services and lay off municipal workers. In the end, city officials coughed up the cash and the parade went on.

As bad as things were, Pittsburgh was not in the terrible shape that L.A is with a budget shortfall of half billion dollars and pending city employee cuts, furloughs, and a drastic slash in services. This makes a Laker victory parade seem like a wasteful and indulgent frill.

At the same time, the ever loyal Laker fans, the team, and the city deserve to let the throngs revel at a public Laker championship celebration on Figueroa.
Laker co-owner Jerry Buss can make that happen. The Lakers are fat financially. According to Forbes in 2008, the Lakers were the second financially healthiest NBA franchise. The team was valued at nearly $600 million and had a net operating revenue of nearly $200 million. Buss and co owner Philip Anschutz are worth an estimated worth $8 billion. The fans forked over on average $107 dollar per ticket. This padded gate receipts to nearly $100 million. That's not too shabby for a team that Buss laid out $20 million for three decades ago. The estimated $1 million tab that the victory parade will cost then in the larger Laker profit scheme of things is a mere pittance.

President Obama and Governor Schwarzenegger have repeatedly implored everyone to sacrifice and help in whatever way they can to beat back the financial crisis. And those with the deepest pockets should do even more to help.

Buss can spare Los Angeles city officials the agony of having to make the painful decision of whether to cancel the parade or not. He can cough up a few dollars to make sure there's no rain on this parade. It will hardly break the bank.