quote:
Sterling, aside from being a true piece of shite, was a horrendous NBA owner. He did nothing for that team for 30 years. In one of the biggest markets in the country.

He kept them in LA proper, which is a bigger reason for the price tag than his tirade.

This sale will have little effect on the rest of the league. 2 years ago, nobody even wanted the hornets, you think now that someone overpaid to have a team in LA that they could be sold for nearly 3x what they were just purchased for (directed at OP)?

Seriously, that is like saying a house on St. Charles ave that needs a little work just sold for $2M, so my house of similar sqft in Covington, that had been sitting on the market for 18 months before getting sold at $350k is suddenly worth $1M. The potential revenue in LA far exceeds any sport franchise in Nola, and the price tag will reflect that.

Did he over pay? Probably, but I'm sure the former CEO of fricking Microsoft has access to some advanced financial modeling resources to guide his bid, that may have even valued them at $2.5B. People are acting like these billion dollar transactions are completely arbitrary decisions.

3 ...

Report Post

Posted by corndeaux

Member since Sep 2009

9634 posts

Posted on 5/31/14 at 10:50 am to OceanMan

quote:
Did he over pay? Probably, but I'm sure the former CEO of fricking Microsoft has access to some advanced financial modeling resources to guide his bid, that may have even valued them at $2.5B. People are acting like these billion dollar transactions are completely arbitrary decisions.

That and the fact that Ballmer has frick You money, is retired, and is a hoops junkie. Half a billion doesn't move his register much, especially for something he's passionate about and a product that will make his money back.

1 ...

Report Post

Posted by adono

River Ridge

Member since Sep 2003

7307 posts

Posted on 5/31/14 at 11:14 am to OceanMan

quote:
Seriously, that is like saying a house on St. Charles ave that needs a little work just sold for $2M, so my house of similar sqft in Covington, that had been sitting on the market for 18 months before getting sold at $350k is suddenly worth $1M. The potential revenue in LA far exceeds any sport franchise in Nola, and the price tag will reflect that.

An "expert" was on ESPN yesterday and said that he felt all NBA team would now be valued at a minimum of $1B now. Interestingly, he said that we have now had 2 teams sold in the #2 and #3 sports in the country for $2B (+) (Dodgers and Clippers) and that any NFL should top that with no problem.

So, Benson is sitting on the Saints (which he bought for $74M) and the Pells (which he bought for $330M) with a combined value of $3B. He is the richest man in the state...by long shot!

0 ...

Report Post

Posted by SlowFlowPro