Document:

<PAGE>   1
                                                                    Exhibit 10.2

                                AMENDMENT NO. 1
                                       TO
                            ASSET PURCHASE AGREEMENT

        THIS AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENT (this "Amendment") is
entered into as of March 22, 2001, among The Basketball Club of Seattle, LLC, a
Washington limited liability company ("Buyer"), The Ackerley Group, Inc., a
Delaware corporation ("Ackerley"), Ackerley Media Group, Inc. (formerly AK Media
Group, Inc.), a Washington corporation ("AK Media"), SSI, Inc., a Washington
corporation ("SSI") and T.C. Aviation, Inc., an Oregon corporation ("T.C.
Aviation") (Ackerley, AK Media, SSI and T.C. Aviation, collectively, the
"Sellers") and Full House Sports & Entertainment, Inc., a Washington corporation
("Full House").

                                   BACKGROUND

        A. Buyer and the Sellers are parties to that certain Asset Purchase
Agreement dated as of January 11, 2001 (the "Agreement"), pursuant to which
Buyer will buy from the Sellers certain assets more particularly described
therein. The Closing of the Agreement is contingent upon certain conditions
occurring by the Closing date. Capitalized terms not otherwise defined herein
shall have the meanings ascribed to them in the Agreement.

        B. Section 8.1(b) provides that either Buyer or the Sellers may
terminate the Agreement by written notice if the Closing has not occurred by
March 31, 2001 (the "Termination Time").

        C. Buyer and Sellers wish to extend the Termination Time to allow more
time for the closing conditions to occur and to amend the Agreement to reflect
the change.

        D. Buyer and Sellers wish to provide that accounts receivable related to
the operation of the Teams and arising prior to the Closing Date shall be
assigned to Buyer and that accounts payable related to the operation of the
Teams and arising prior to the Closing Date shall be assumed by Buyer, in each
case as more particularly provided for herein.

        E. Buyer and Sellers wish to provide for the resolution of certain
potential instances of noncompliance with NBA rules and regulations regarding
camera placement.

        F. Buyer and Sellers wish to add Full House as a party to the Agreement,
and Full House wishes to become a party to the Agreement.

        NOW, THEREFORE, the parties hereto agree as follows:

        1. Amendment to Section 8.1(b) of the Agreement. Section 8.1(b) of the
Agreement is hereby deleted and replaced in its entirety with the following:

                      "(b) Buyer or Sellers may terminate this Agreement by
               written notice if: (i) the Closing has not occurred by April 2,
               2001; provided, however, that the right to terminate this
               Agreement under this Section 8.1(b)(i) shall not be

<PAGE>   2

               available to any Party whose action or failure to act has been a
               principal cause of or resulted in the failure of the Closing to
               occur on or before such date and such action or failure to act
               constitutes a breach of this Agreement; (ii) there shall be a
               final nonappealable order of a court of competent jurisdiction in
               effect preventing consummation of the transactions contemplated
               by this Agreement or (iii) there shall be any statute, rule,
               regulation or order enacted, promulgated or issued or deemed
               applicable to the transactions contemplated by this Agreement by
               any Governmental Body that would make consummation of the
               transactions contemplated by this Agreement illegal;"

        2. Buyer Assumption of Basketball Related Accounts Payable.

               a. Section 1.2(a) of the Agreement is hereby amended to provide
that Buyer shall assume the obligation to pay all Basketball Payables (as
defined below).

               b. Sellers and Buyer agree that, notwithstanding Section 2(a) of
this Amendment and the provisions of Section 7.3(a)(ii) of the Agreement, Buyer
shall not be obligated under Section 7.3(a)(ii) of the Agreement or otherwise to
indemnify any Seller Indemnified Persons for any Basketball Payables.

               c. Sellers agree, jointly and severally, to reimburse Buyer for
the amount of any Basketball Payables paid by Buyer (unless Sellers have earlier
paid such amount pursuant to Section 2(d) below). Sellers shall be obligated to
make such payment not later than fifteen (15) days after receiving written
notice of Seller's payment of a Basketball Payable.

               d. Sellers agree, jointly and severally, to pay the amount of any
Basketball Payables within fifteen (15) days of Buyer's request for such
payment; provided that such Basketball Payables would have become due and
payable within thirty (30) days of Buyer's notice to Sellers.

               e. Sellers agree that any failure by Sellers to pay to Buyer any
amounts owing to Buyer pursuant to Sections 2(c) and 2(d) above shall be deemed
a Loss suffered by Buyer for which Sellers shall, pursuant to Section 7.2(a)(i)
of the Agreement, indemnify Buyer; provided that such indemnification obligation
shall not be subject to the Basket Amount and Seller Cap of Section 7.2(a)(ii)
of the Agreement.

               f. "BASKETBALL PAYABLES" shall mean all accounts payable of
Sellers (or any of them) that (i) have arisen prior to the Closing, (ii) relate
directly to the operation of the Teams and (iii) are not within the definition
of Assumed Obligations prior to giving effect to this Amendment.

        3. Seller Assignment of Basketball Related Accounts Receivable.

               a. Section 1.1(c)(ii) of the Agreement is hereby amended to
provide that the term "Excluded Assets" shall not include Basketball Receivables
(as defined below).

               b. Section 5.3 of the Agreement is hereby amended to provide that
the term "Sellers' Receivables" shall not include Basketball Receivables.

                                      -2-
<PAGE>   3

               c. Buyer agrees to pay to Sellers the amount of any Basketball
Receivables collected by Buyer. Buyer shall be obligated to make such payment as
soon as practicable following Buyer's receipt of payment of a Basketball
Receivable; provided, that in the event a Basketball Receivable is paid to Buyer
by check, Buyer shall not be obligated to pay such amount to Sellers until as
soon as practicable following final payment of such check by the payor bank of
such check. Buyer agrees to use the same reasonable best efforts to collect
Basketball Receivables as it employs in its own collection efforts.

               d. Buyer agrees that any amount that Buyer is obligated to pay
Sellers under Section 3(c) above, to the extent it is not paid pursuant to the
terms of such Section, shall be deemed a Loss suffered by Buyer for which Buyer
shall, pursuant to Section 7.3(a) of the Agreement, indemnify Sellers; provided
that such indemnification obligation shall not be subject to the basket cap
limitations of Section 7.3(b) of the Agreement.

               e. "BASKETBALL RECEIVABLES" shall mean all accounts receivable of
Sellers (or any of them) prior to the Closing that (i) relate directly to the
operation of the Teams and (ii) are included in Schedule 5.3 to the Agreement
prior to giving effect to this Amendment.

        4. Key Arena Compliance.

               a. On March 1, 2001, Buyer sent Sellers a letter claiming, among
other things, that Seller was in breach of their representation and warranty set
forth in Section 2.8 of the Purchase Agreement, which provides that "To Seller's
knowledge, Sellers are in material compliance with all applicable ... rules and
regulations of the Associations relating to or affecting the Businesses or the
Purchased Assets." Buyer alleged that Sellers were not in compliance with Rule
VII (A)(8)(e)(1)(a) of the National Basketball Association ("NBA") Operations
Manual concerning the placement of television cameras in the Key Arena. Sellers
have denied and continue to deny that said representation and warranty was
false. In the event that the NBA agrees in writing with Buyer that the placement
in Suite No. 38 or 39 of Key Arena of the so-called "center court" television
cameras satisfies the NBA requirement that beginning with the 2001-2002 NBA
Season such cameras must be relocated to a location that complies with the NBA
rules and regulations regarding camera location:

                      (1) Buyer stipulates that the notice of March 1, 2001
shall be withdrawn and shall be of no effect;

                      (2) Sellers agree that they shall, effective upon the
Closing, transfer to Buyer any and all of Sellers' rights to use or license
Suites Nos. 38 and 39, and Sellers shall execute any document or instrument of
assignment as Buyer shall reasonably request in order to effect such assignment;
and

                      (3) Sellers and Buyer agree that Sellers shall have the
right to license a single Open Suite (as defined below) in Key Arena mutually
agreed upon by Sellers and Buyer (the "SELLERS SUITE") for a period equal to the
Remaining Suite 39 Period (as defined below) on terms under which such suite
could be licensed to unrelated third parties and Sellers shall enter into
Buyer's standard form of suite license agreement with respect to the Sellers
Suite. "OPEN SUITE"

                                      -3-
<PAGE>   4

shall mean a suite in Key Arena that is not at such time governed by an
effective suite license agreement or otherwise being licensed by any party, but
shall not include any suite that is an "owner's suite." "REMAINING SUITE 39
PERIOD" shall mean the remaining term of the suite license agreement governing
the license of Suite No. 39 as of the date of the Agreement.

        5. Exclusive Radio Broadcast Agreement. On March 1, 2001, Buyer sent
Sellers a letter claiming, among other things, that Sellers were in breach of
their representation and warranty set forth in Section 2.12(b) of the Purchase
Agreement, which provides that "Any agreement, pursuant to the Businesses that
is between any Seller and other Seller or Affiliate of a Seller has material
terms that are not materally more or less favorable to the Businesses than terms
that would have been obtained as a result of `arms length' bargaining between
unrelated parties." Buyer alleged that the contract to be assumed by Buyer as
part of the acquisition between KJR Radio and Full House Sports and
Entertainment violated the referenced representation and warranty. Sellers have
denied and continue to deny that said representation and warranty was false.
Buyer stipulates that the notice of March 1, 2001 described in this Section 5 is
hereby withdrawn and of no effect.

        6. Amendment of Schedule 1.1(b)(v) to the Agreement (Assumed Contracts).
Buyer and the Sellers agree that Schedule 1.1(b)(v) to the Agreement is hereby
amended to remove the following agreements:

               a. Exclusive Radio Broadcast Clearance & Carriage Agreement
(KJR-AM Agreement) between KJR-AM and Full House Sports and Entertainment

               b. The following, and any other, agreements relating to the
Aircraft:

<TABLE>
<CAPTION>
                  AGREEMENT                    PARTIES                      DATE
           ------------------------ ------------------------------- ---------------------
<S>                                 <C>                             <C>
           Aviation Hull &          With United States Aircraft
           Liability insurance      Insurance Group and American
           policies                 Home Assurance Company
           ------------------------ ------------------------------- ---------------------
           Aircraft Lease           TC Aviation, Inc. and AK
                                    Media Group, Inc.
           ------------------------ ------------------------------- ---------------------
           Boeing 727 Debt
           Agreements
           ------------------------ ------------------------------- ---------------------
           Security Agreement       Between Keycorp Leasing, The    Dated as of
                                    Ackerley Group, and TC          February 13, 1998
                                    Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
           Aircraft Addendum        Between Keycorp Leasing, The    Dated as of
                                    Ackerley Group, and TC          February 13, 1998
                                    Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
           Assumption Agreement     Between Keycorp Leasing, The    Dated as of
                                    Ackerley Group, and TC          February 13, 1998
                                    Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
           Amendment to Security    Between Keycorp Leasing, The    Dated as of
           Agreement                Ackerley Group, and TC          February 13, 1998
                                    Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
</TABLE>

                                      -4-
<PAGE>   5

<TABLE>
<S>                                 <C>                             <C>
           ------------------------ ------------------------------- ---------------------
           Borrower                 By TC Aviation, Inc.            Dated as of
           Acknowledgement                                          February 13, 1998
           (Certificate of
           Acceptance)
           ------------------------ ------------------------------- ---------------------
           Promissory Note No. 1    Between Keycorp Leasing, The    Dated as of
           (Purchase)               Ackerley Group, and TC          February 13, 1998
                                    Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
           Promissory Note No. 2    Between Keycorp Leasing, The    Dated as of
           (Upgrade)                Ackerley Group, and TC          February 13, 1998
                                    Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
           Amendment to             Between Keycorp Leasing, The    Dated as of October
           Promissory Note No. 2    Ackerley Group, and TC          30, 1998
           (Upgrade)                Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
           Third Amendment to       Between Keycorp Leasing, The    Dated as of
           Promissory Note 2.       Ackerley Group, and TC          December  1998
                                    Aviation, Inc.
           ------------------------ ------------------------------- ---------------------
</TABLE>

        7. Removal of Aircraft-related Provisions. The closing conditions in
Sections 6.1 and 6.2 of the Agreement are hereby amended to remove the closing
conditions relating to the Aircraft Purchase Agreement and the Aircraft
Transition Lease.

        8. Addition of Full House Sports and Entertainment as a Party. The
Parties agree that Full House shall be a party to the Agreement as amended by
this Amendment and included in the definition of "Sellers" thereunder, the same
as if Full House had executed the Agreement on the original date of execution of
the Agreement.

        9. Removal of T.C. Aviation as a Party. The Parties agree that T.C.
Aviation shall be removed as a party to the Agreement as amended by this
Amendment and shall not be included in the definition of "Sellers" thereunder.

        10. Governing Law; Counterparts. The internal laws of the State of
Washington (irrespective of its choice of law principles) will govern the
validity of this Amendment, and this Amendment may be executed in counterparts
each of which shall be deemed an original and all of which shall constitute one
instrument.

        11. No Other Modifications. Except as otherwise expressly set forth in
this Amendment, the Agreement shall remain in full force and effect without any
modification thereto. This Amendment shall be deemed a part of the Agreement for
all purposes.

               [THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]

                                      -5-
<PAGE>   6

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first written above.

BUYER:                                  THE BASKETBALL CLUB OF SEATTLE, LLC

                                        By: /s/ Howard Schultz
                                           ------------------------------------
                                        Name:  Howard Schultz
                                        Title: Chairman of the Board

                                        By: /s/ Walter F. Walker
                                           ------------------------------------
                                        Name:  Walter F. Walker
                                        Title: Chief Executive Officer

SELLERS:

THE ACKERLEY GROUP, INC.                ACKERLEY MEDIA GROUP, INC.

By:    /s/ Denis Curley                By:     /s/ Denis Curley
       ---------------------------             -------------------------------

Name:  Denis Curley                     Name:  Denis Curley
       ---------------------------             -------------------------------

Title: Co-President                     Title: Co-President
       ---------------------------             -------------------------------

FULL HOUSE SPORTS & ENTERTAINMENT, INC.

By:    /s/ Denis Curley
       ---------------------------

Name:  Denis Curley
       ---------------------------

Title: Co-President
       ---------------------------

                 [AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENT]<PAGE>   1
                                                                    EXHIBIT 10.3

                                AMENDMENT NO. 2
                                       TO
                            ASSET PURCHASE AGREEMENT

      THIS AMENDMENT NO. 2 TO ASSET PURCHASE AGREEMENT (this "Amendment") is
entered into as of March 30, 2001, among The Basketball Club of Seattle, LLC, a
Washington limited liability company ("Buyer"), The Ackerley Group, Inc., a
Delaware corporation ("Ackerley"), Ackerley Media Group, Inc. (formerly AK Media
Group, Inc.), a Washington corporation ("AK Media"), SSI, Inc., a Washington
corporation ("SSI"), Full House Sports & Entertainment, Inc., a Washington
corporation ("FHSE") (Ackerley, AK Media, SSI and FHSE, collectively, the
"Sellers") and Ackerley Seattle Storm, Inc., a Washington corporation.

                                   BACKGROUND

      A. Buyer and the Sellers are parties to that certain Asset Purchase
Agreement dated as of January 11, 2001, as amended pursuant to that certain
Amendment No. 1 to Asset Purchase Agreement dated as of March 22, 2001 (the
"Agreement"), pursuant to which Buyer will buy from the Sellers certain assets
more particularly described therein. Capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Agreement.

      B. Buyer and Sellers wish to make certain modifications to the Agreement
as hereinafter set forth.

      NOW, THEREFORE, the parties hereto agree as follows:

      1. Addition of Ackerley Seattle Storm, Inc. as a Party. The Parties agree
that Ackerley Seattle Storm, Inc. shall be a party to the Agreement as amended
by this Amendment and included in the definition of "Sellers" thereunder, the
same as if Ackerley Seattle Storm, Inc. had executed the Agreement on the
original date of execution of the Agreement.

      2. Amendment of Schedule 6.1(s). Schedule 6.1(s) is amended to remove all
items listed thereon except the lien of First Union National Bank, as agent, and
any other references to such liens (such removed items, the "Office Equipment
Lease Liens").

      3. Amendment of Section(b)(v) of Schedule 1.1 to the Agreement (Assumed
Contracts). Buyer and the Sellers agree that Section (b)(v) of Schedule 1.1 to
the Agreement is hereby amended to remove the Contract for Professional Services
between City of Tacoma and Full House Sports and Entertainment, Inc. dated as of
December 14, 1999 ("Tacoma Dome Contract"). The Agreement is hereby amended to
remove any and all other references to the Tacoma Dome Contract. Buyer and the
Sellers agree that Section (b)(v) of Schedule 1.1 to the Agreement is hereby
amended to add to subsection (b)(v)(7) thereof the lease agreements relating to
the Office Equipment Lease Liens.

      4. Prorations Schedule and Accounts Receivable Schedule. The Schedule of
Prorations attached hereto as EXHIBIT A is hereby substituted as Schedule 1.3(b)
to the Agreement. The

<PAGE>   2

Schedule of Accounts Receivable attached hereto as EXHIBIT B is hereby
substituted as Schedule 5.3 to the Agreement.

      5. Addition of List of Tangible Personal Property to Schedule 1.1.
Schedule 1.1 to the Agreement is hereby amended to add to Section (b)(ii) of
Schedule 1.1 the tangible personal property listed on EXHIBIT C hereto.

      6. Miller Advertising Contract Settlement Letter. Whereas, AK Media and
SSI have entered into a letter agreement with Miller Brewing Company ("Miller"),
dated as of March 22, 2001 (the "Miller Letter Agreement") which sets forth the
agreement among the parties thereto regarding resolution of certain shortfalls
in the television ratings performance delivered by AK Media and SSI relative to
the ratings performance guarantees for the 1999-2000 and 2000-2001 NBA seasons
set forth in that certain Advertising Rights Agreement, dated September 1, 1998,
among Miller, AK Media and SSI (the "Miller Advertising Agreement"). Section (v)
of Schedule 1.1 to the Agreement is hereby amended to add the Miller Letter
Agreement. The parties agree that, pursuant to Section 1.3(b) of the Agreement,
the obligations under the Miller Letter Agreement shall be prorated between the
Buyer and the Sellers such that the only obligations under the Miller Letter
Agreement that will be allocated to Buyer in such proration shall be obligations
which relate to any shortfall of the 2000-2001 NBA season's ratings below the
revised ratings guarantee of 3.0 MMA-34 set forth in the Miller Letter
Agreement, but only such obligations which are attributable to that portion of
the 2000-2001 NBA season which falls after the Closing (as defined in the
Agreement).

      7. Excise Taxes. Buyers shall promptly file the Washington Real Estate
Excise Tax Affidavit Return and pay the tax due of $77,324.98, which amount
shall be deducted from the Purchase Price.

      8. Interest Payment. Buyer agrees that, as soon as practicable following
the transfer by Buyer to Sellers of the Cash Consideration (as defined in the
Agreement), Buyer shall pay to Sellers the amount of interest that accrued on
the Equity cash (as defined below) for the period of time from 12:01 a.m.
Seattle time on Sunday April 1, 2001 until the time that the Equity Cash is wire
transferred to the Sellers. "Equity Cash" means the portion of the Cash
Consideration that is being funded by equity investments received by Buyer from
its members, and which is approximately $128,241,670.58.

      9. Governing Law; Counterparts. The internal laws of the State of
Washington (irrespective of its choice of law principles) will govern the
validity of this Amendment, and this Amendment may be executed in counterparts
each of which shall be deemed an original and all of which shall constitute one
instrument.

      10. No Other Modifications. Except as otherwise expressly set forth in
this Amendment, the Agreement shall remain in full force and effect without any
modification thereto. This Amendment shall be deemed a part of the Agreement for
all purposes.

                     [THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]

                                      -2-
<PAGE>   3

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first written above.

<TABLE>

<S>                                               <C>
BUYER:                                             THE BASKETBALL CLUB OF SEATTLE, LLC

                                                   By:     /s/ Howard Schultz
                                                           ------------------------
                                                   Name:   Howard Schultz
                                                   Title:  Chairman of the Board

                                                   By:     /s/ Walter F. Walker
                                                           ------------------------
                                                   Name:   Walter F. Walker
                                                   Title:  Chief Executive Officer

SELLERS:

THE ACKERLEY GROUP, INC.                           ACKERLEY MEDIA GROUP, INC.

By:     /s/ Christopher H. Ackerley                By:     /s/ Christopher H. Ackerley
        -------------------------------                    ---------------------------
Name:   Christopher H. Ackerley                    Name:   Christopher H. Ackerley
Title:  Co-President                               Title:  President

FULL HOUSE SPORTS & ENTERTAINMENT, INC.            ACKERLEY SEATTLE STORM, INC.

By:     /s/ Christopher H. Ackerley                By:     /s/ Christopher H. Ackerley
        -------------------------------                    ---------------------------
Name:   Christopher H. Ackerley                    Name:   Christopher H. Ackerley
Title:  President                                  Title:  President

</TABLE>

<PAGE>   4

SSI, INC.

By: /s/ Christopher H. Ackerley
    ---------------------------
Name:  Christopher H. Ackerley
Title: President

                                      -2-
<PAGE>   5
                                   EXHIBIT A
                                   ---------
<TABLE>
<CAPTION>
FULL HOUSE SPORTS & ENTERTAINMENT
PLAYER COMPENSATION
ESTIMATED AT 3/31/2001                                  0.85
                                           CURRENT YEAR     A/C 61660/61690       AMOUNT PAID
                                            CONTRACT          EXPENSE THRU          THROUGH
Name                                         AMOUNT             03/31/01            03/31/01
-----------------------------------        ------------     ---------------       -----------
<S>                                      <C>                <C>                  <C>
Vin Baker                                 9,315,000.00        7,951,829.27        7,762,500.00
Brent Barry                               4,320,000.00        3,687,804.88        3,600,000.00
Emanual Davis                               611,000.00          521,585.37          509,166.70
Pervis Ellison                            1,000,000.00          291,693.02          291,693.02
Patrick Ewing                            11,500,000.00        9,817,073.17        9,583,333.40
Cash Trade to Phoenix                     2,000,000.00        1,707,317.07        2,000,000.00
Rashard Lewis                             3,923,000.00        3,348,902.44        3,923,000.00
Sean Marks                                   29,324.00           29,324.00           29,324.00
Desmond Mason                             1,074,720.00          917,443.90          912,266.70
Jelani McCoy                              1,250,000.00        1,067,073.17        1,062,500.00
Olumide Oyedeji                             316,969.00          270,583.29          264,140.90
Ruben Patterson                             990,000.00          845,121.95          838,750.00
Gary Payton                              10,000,000.00        8,536,585.37        8,333,333.40
Shammond Williams                           550,000.00          469,512.20          458,333.40
David Wingate                             1,000,000.00          853,658.54          833,333.40
Ruben Wolkowyski                            316,969.00          270,583.29          264,140.90
                                         -----------------------------------------------------
                                         48,196,982.00       40,586,090.92       40,665,815.82
Payton's Suite 00-01                        149,843.13          127,914.87           75,324.63
Payton signing bonus                      1,071,429.00          914,634.51        7,500,000.00
Vernon Maxwell Trade                        638,500.00          545,060.98
Minimum Player Salary Funding               425,000.00          362,804.88
Minimum Player Salary Reimbursement        (451,500.00)        (385,426.83)
Gary Payton bonus                         1,000,000.00          853,658.54
Vin Baker bonus                             810,000.00          691,463.41
Wally Walker agreement
                                         -----------------------------------------------------
                         Total           51,840,254.13       43,696,201.28       48,241,140.45
                                         =====================================================
</TABLE>

<TABLE>
<CAPTION>
FULL HOUSE SPORTS & ENTERTAINMENT
PLAYER COMPENSATION
ESTIMATED AT 3/31/2001
                                            A/C 11910           A/C 31480           A/C 14120            A/C 31690
                                           PREPAID AT           ACCRUED AT         PREPAID AT           ACCRUED AT
Name                                        03/31/01             03/31/01           03/31/01             03/31/01
-----------------------------------        ----------           ----------         ----------           ----------
<S>                                      <C>                <C>                  <C>                <C>
Vin Baker                                          --         (189,329.27)
Brent Barry                                        --          (87,804.88)
Emanual Davis                                      --          (12,418.67)
Pervis Ellison                                     --                  --
Patrick Ewing                                      --         (233,739.77)
Cash Trade to Phoenix                      292,682.93                  --
Rashard Lewis                              574,097.56                  --
Sean Marks                                         --                  --
Desmond Mason                                      --           (5,177.20)
Jelani McCoy                                       --           (4,573.17)
Olumide Oyedeji                                    --           (6,442.39)
Ruben Patterson                                    --           (6,371.95)
Gary Payton                                        --         (203,251.97)
Shammond Williams                                  --          (11,178.80)
David Wingate                                      --          (20,325.14)
Ruben Wolkowyski                                   --           (6,442.39)
                                         -------------------------------------------------------------------------
                                           866,780.49         (787,055.59)                 --                  --
Payton's Suite 00-01                               --          (52,590.24)
Payton signing bonus                     1,071,429.00                  --        1,228,220.51
Vernon Maxwell Trade                               --                                                 (545,060.98)
Minimum Player Salary Funding                      --         (362,804.88)
Minimum Player Salary Reimbursement                --          385,426.83
Gary Payton bonus                                  --         (853,658.54)
Vin Baker bonus                                    --         (691,463.41)
Wally Walker agreement                                                                              (1,536,249.40)
                                         -------------------------------------------------------------------------
                         Total           1,938,209.49       (2,362,145.83)       1,228,220.51       (2,081,310.38)
                                         =========================================================================
                                                    A ----------------------------------------------------------->
                                                                      SUM OF A =   (1,277,026.21)
</TABLE>

<PAGE>   6
                                   EXHIBIT B
                                   ---------

SCHEDULE 5.3
RECEIVABLES COLLECTABLE BY BUYER AND PAYABLE TO SELLER FROM
COLLECTIONS (ESTIMATED AT MARCH 31, 2001)

<TABLE>

<S>                                                     <C>              <C>
Sponsorship receivables, billed                                          4,968,455.20
Sponsorship receivables, unbilled (clearing account)                      (432,952.19)
Suite receivables, gross                                                   133,923.85
Catering receivables                                                        18,685.10
1995-1999 State B&O Tax audit receivable                                   200,000.00
NBA Properties, Inc. receivables                                           824,680.00
Concession receivable                                                      553,861.90
National Broadcast Contract receivable:
            Balance due 9/30/2000                       1,000,000.00
            2000-2001 Season due (58% of NBC&Turner)   13,324,920.00
            Payments from 10/1/2000 to 3/31/2001      (12,733,000.00)    1,591,920.00
                                                                         ------------
                                                                         7,858,573.86
                                                                         ============
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}]]