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re: Could Benson get a billion for the Pels
Posted on 5/31/14 at 11:50 am to OceanMan
Posted on 5/31/14 at 11:50 am to OceanMan
quote:
but I'm sure the former CEO of fricking Microsoft has access to some advanced financial modeling resources to guide his bid
i seriously doubt he bought the clippers with an eye on making money. he wants an NBA team. end of story
1
Posted on 5/31/14 at 11:51 am to quail man
quote:
they said it's only like 10% of his net worth.
That is exactly the point. He is one of the richest people alive, in the entire world. The country is not filled with "frick it I'll drop a billion on a sports franchise" types of people. Someone overpaying for a rare item does not set the market price for a similar item.
If the guy was just itching to have an NBA team for years, he would have bought one for 20% of the price when the NBA was basically just trying to give one away. He wanted to buy one in one of the most visible markets on the planet, and paid a premium for it.
Posted on 5/31/14 at 11:54 am to OceanMan
quote:
. He is one of the richest people alive, in the entire world.
also we must add:
1. he has failed in a few recent attempt to buy teams
2. one of paul allen's team just won a super bowl and another was a hot team to start this year and made the NBA playoffs
quote:
The country is not filled with "frick it I'll drop a billion on a sports franchise" types of people.
yeah i think the "super group" who put a bid together only big like $1.2B and they had a combined net worth of like $70B
quote:
If the guy was just itching to have an NBA team for years, he would have bought one for 20% of the price when the NBA was basically just trying to give one away. He wanted to buy one in one of the most visible markets on the planet, and paid a premium for it.
well he wanted to buy a team on the west coast, or buy a team and move it to seattle.
as long as the NBA will block relocation, the price of the pelicans will be maxed out around the bucks' price
Posted on 5/31/14 at 12:01 pm to SlowFlowPro
quote:
i seriously doubt he bought the clippers with an eye on making money. he wants an NBA team. end of story
So you think he just threw a few billion out without any research, at all?
What I am trying to say is that people seem to think that negotiations for NBA teams are like storage wars or something, that people are just randomly bidding for teams. There seems to be some fallacy that this guy that "wanted an NBA team," threw out enough to secure one, and now all teams must be worth at least half that, "b/c its the clippers, they have never won shite! The lakers have won they are worth twice that!". The lakers weren't for sale. Like I said, he didn't just want an NBA team, or else he would have had one by now.
And another thing; a guy that has a net worth of roughly $20B is never not considering making money off of his investments. You would be foolish to think otherwise.
Posted on 5/31/14 at 12:04 pm to OceanMan
quote:
What I am trying to say is that people seem to think that negotiations for NBA teams are like storage wars or something, that people are just randomly bidding for teams
i think balmer's $2B bid is closer to storage wars than what the bucks' or kings' negotiations were like
his bid was WAY more than 2 already VERY over-priced bids. he knew he's have to throw out a "frick that" bid to win, and he did. the other bids were their own "frick that" bid. the franchise was valued in the 600s or 700s very recently. NBA teams in prime markets pretty rarely, if ever, end up at market
quote:
Like I said, he didn't just want an NBA team, or else he would have had one by now.
he wants an NBA team...in a big city on the west coast, or one he can move to seattle
He wanted to move the Kings to Seattle, so he didn't win that bid
quote:
a guy that has a net worth of roughly $20B is never not considering making money off of his investments. You would be foolish to think otherwise.
not true. they buy toys all the time. sports teams are ultimate toys. super rich people lose money on sports teams on the reg
This post was edited on 5/31/14 at 12:08 pm
Posted on 5/31/14 at 12:07 pm to SlowFlowPro
quote:
his bid was WAY more than 2 already VERY over-priced bids. he knew he's have to throw out a "frick that" bid to win, and he did. the other bids were their own "frick that" bid. the franchise was valued in the 600s or 700s very recently. NBA teams in prime markets pretty rarely, if ever, end up at market
I believe we are in agreement on this one.
Posted on 5/31/14 at 12:22 pm to SlowFlowPro
quote:
not true. they buy toys all the time. sports teams are ultimate toys. super rich people lose money on sports teams on the reg
Not so much after the CBA. There's a reason so many finance guys are buying in. The league is trending upward in a huge way. This is obviously an over bod for reasons you have laid out.
But the Clippers will make Ballmer money. His new tv deal will likely cover player salaries on a yearly basis
Posted on 5/31/14 at 1:15 pm to corndeaux
quote:
There's a reason so many finance guys are buying in. The league is trending upward in a huge way.
The new TV deal is going to be massive
Posted on 5/31/14 at 1:16 pm to corndeaux
SO what exactly happened here? Did the Sterlings just decide to back down bc the winning bid was about $1B more than the highest estimate? It would be hard to stand up for yourself with that kind of carrot.
Posted on 5/31/14 at 1:54 pm to OceanMan
quote:
Did the Sterlings just decide to back down bc the winning bid was about $1B more than the highest estimate?
uh
mama sterling got the donald declared mentally incompetent. the team is owned by the family trust, and if one of the 2 got declared incompetent, the other got full control over the trust. she did, and did, and sold it
he's going to sue the NBA and sue the frick out of her
Posted on 5/31/14 at 3:42 pm to SlowFlowPro
God almighty, just for a year or two I wish I was practicing in L.A. again and representing Sterling. His lawyers are going to milk him for a ton of dough and, in the end, he won't have his team and he ain't collecting damages. He may get a few bucks out of a settlement involving the trust but that's it.
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