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Started By
Message
re: Jordan to sell majority stake in Hornets for $3,000,000,000
Posted on 6/16/23 at 8:12 pm to sparkinator
Posted on 6/16/23 at 8:12 pm to sparkinator
Jordan can gamble as much as he wants will never be broke
2
Posted on 6/16/23 at 8:14 pm to DownSouthCrawfish
quote:
Lebron will be a better owner
Lebron can’t read
Posted on 6/16/23 at 8:20 pm to WestCoastAg
I have personally watched him in a casino......it was jaw dropping watching the money he was playing with.....3 hands of blackjack at the time. 2001 was the year I believe, but I did the numbers at the time I was shocked how little it was basis his known income at the time.
Posted on 6/16/23 at 8:25 pm to sparkinator
Barkley was right.
Posted on 6/16/23 at 8:31 pm to sparkinator
His portion of the 3 billion valuation is about 1.7 billion.
Jordan GameStop Short
Jordan got killed in the game stop squeeze a couple a years ago. Lost almost 500 million.
He isn't cash poor as his Nike deal paid out 256 million in 2022 alone.
The cash flow from Nike allows him to gamble and be aggressive with his investments, but he got raped during the GameStop squeeze.
Jordan GameStop Short
Jordan got killed in the game stop squeeze a couple a years ago. Lost almost 500 million.
He isn't cash poor as his Nike deal paid out 256 million in 2022 alone.
The cash flow from Nike allows him to gamble and be aggressive with his investments, but he got raped during the GameStop squeeze.
Posted on 6/16/23 at 8:32 pm to funnystuff
quote:
$3 billon dollar valuation, not $3 billion dollars. How much he makes depends on what percent of the franchise he owns. If he owns 90%, yea, that’s one hell of a return. If he owns 10%, that’s not much better than a basic treasury bond
He’s majority owner. I don’t know if that means he actually owns a majority as in 51% or if it just means he’s not a minority owner. But either way, I’m guessing he just made a shite ton.
Posted on 6/16/23 at 8:43 pm to Strannix
quote:
Word is he has gambled all the Nike money off
Like word is the vaxx kills half the people that get it?
This post was edited on 6/16/23 at 8:43 pm
Posted on 6/16/23 at 8:47 pm to Big Scrub TX
quote:and? doesnt take a genius to know that owning a fricking NBA franchise is a good investment
And yet 10-20X on his investment.
Posted on 6/16/23 at 8:57 pm to PeteRose
quote:I don't get this take. I don't bet on sports because I need more money.
You know you have a disease when you have that much money and still feel the need to gamble.
Posted on 6/16/23 at 9:03 pm to WestCoastAg
quote:I guess it depends on what we think "worst owners" are.
and? doesnt take a genius to know that owning a fricking NBA franchise is a good investment
Posted on 6/16/23 at 9:14 pm to tigersmanager
nm
This post was edited on 6/16/23 at 9:17 pm
Posted on 6/16/23 at 9:16 pm to tigersmanager
There is zero chance the Hornets are worth $3 billion.Forbes has 'em at a little over half that much
quote:
The Hornets are worth an estimated $1.7 billion, per Forbes. The team did not disclose the sale price in its announcement.
Charlotte Observer
Posted on 6/16/23 at 9:41 pm to BhamDore
quote:
ordan got killed in the game stop squeeze a couple a years ago. Lost almost 500 million.
That's not what that article said. You are making some big assumptions there.
Posted on 6/16/23 at 9:44 pm to BHTiger
quote:
it was jaw dropping watching the money he was playing with
quote:Huh?
I was shocked how little it was basis his known income at the time.
Posted on 6/16/23 at 9:48 pm to Big Scrub TX
quote:Ones that get involved in player evaluation and team building decisions when they have no clue what’s going on on a basketball court in the modern game.
I guess it depends on what we think "worst owners" are
So, Jordan.
This post was edited on 6/16/23 at 11:46 pm
Posted on 6/16/23 at 9:51 pm to BHTiger
quote:
hands of blackjack at the time. 2001 was the year I believe, but I did the numbers at the time I was shocked how little it was basis his known income at the time.
Well how much was he playing??
Posted on 6/16/23 at 10:38 pm to RD Dawg
I am not sure which is the proper valuation I am seeing on this thread, however, MJ will make bank either way.
If $3B value- 55% (Ownership Stake) = $1.65B (Equity Value) - $275M (Investment) = $1.38B Profit
If $1.7B value- 55% = $935M - $275M = $660M Profit
Even if lessor value, he still makes $660M in 10 years or $66M per year. Not too shabby
Not sure about taxes but North Carolina does not have capital gains but a small flat tax, so he will come out very nice on either scenario.
If $3B value- 55% (Ownership Stake) = $1.65B (Equity Value) - $275M (Investment) = $1.38B Profit
If $1.7B value- 55% = $935M - $275M = $660M Profit
Even if lessor value, he still makes $660M in 10 years or $66M per year. Not too shabby
Not sure about taxes but North Carolina does not have capital gains but a small flat tax, so he will come out very nice on either scenario.
Posted on 6/16/23 at 11:19 pm to Strannix
quote:
Word is he has gambled all the Nike money off
Do people in this thread m really believe Jordan is hurting for money? Is this a serious conversation? The money that pours in from Nike annually alone is enough for him to gamble damn near whatever he wants. He’s probably just tired of doing a shitty job as an owner and owning a shitty franchise
Michael Jordan is certainly not hurting for money and will never be hurting for money. And he will make a killing on this sale too
This post was edited on 6/16/23 at 11:24 pm
Posted on 6/16/23 at 11:38 pm to WestCoastAg
quote:
and? doesnt take a genius to know that owning a fricking NBA franchise is a good investment
Plenty of people had the same money as him and didn't make as fortunate of an investment. Maybe it's dumb luck. But it paid off
Posted on 6/17/23 at 1:08 am to baldona
He's selling about 65% while still maintaining a minority ownership. I think about 5%. He previously a minority stake a few years ago when the team had a 1.7 billion valuation. All in all, this is a damn good ROI.
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