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re: Okay, About Ownership
Posted on 3/2/11 at 10:25 am to SlowFlowPro
Posted on 3/2/11 at 10:25 am to SlowFlowPro
quote:
assuming the debt payoff was included in the $300M, i don't really think it makes a difference
hell, buying the team with the debtload would mean he'd be directly involved in negotiating the debt down, so it may have been better to buy with the debt
It certainly could have been done, but most intelligent people don't buy a ship (since we're talking Chouest) that has a gaping hole in the hull and is sinking. Shinn was losing a lot of money and wanted out from under it. If it was that easy to sell, he would have.
Like, I said, it isn't a used car. You can't just decide you're done with it and expect to have a deal in place by the end of the week.
1
Posted on 3/2/11 at 5:00 pm to Jester
You say most intelligent people wouldn't take on the debt load but we are talking about 5 years previous to the NBA buyout. An intelligent far-sighted potential buyer say ,from Oklahoma City may well have jumped at the chance to take on whatevever the current debt was ,squeeze a desperate city for what they could and hauled arse back to Okie in 4or5 seasons. Say someone in a little better financial position then Shinn was. I think I have a rough idea of the difference in an NBA franchise and a used car and why can't you say your just done with it and start the wheels in motion to unload the franchise? Because you say so?
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