Schultz Asking $400 Million for Sonics, Twice What He Paid

The Puget Sound Business Journal reports that Howard Schultz, who wants taxpayers to pony up millions for a new arena, thinks the Sonics are worth $400 million--twice what the investment group he leads paid for them.

He and his investors bought the team for $200 million in 2001, and claim to have lost $60 million since. $140 million--that's 70%--not a bad ROI in five years.

Then again, maybe not good enough for Schultz--the price of Starbucks stock has increased nearly 300% in the same period.