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re: Ballmer's bid for the Clippers: Investment, Trade or Expensive Toy?
Posted on 6/11/14 at 1:47 am to euphemus
Posted on 6/11/14 at 1:47 am to euphemus
Expensive toy. It makes him part of a small group of people in the world that own a pro franchise.
Pro teams only come up for sale every so often, especially ones in big markets. Ballmer isn't getting any younger and he is worth $20 BILLION.
Relatively speaking, buying the Clippers was not a super expensive purchase for the guy. He can hold on to it forever and the prices of sports franchises (goodwill predominantly) will continue to grow well after he dies.
In short, he has the money so why not? He needed to spend at least ~1.7BN to outbid the next closest guy and a few extra hundred million made sure he secured it.
Pro teams only come up for sale every so often, especially ones in big markets. Ballmer isn't getting any younger and he is worth $20 BILLION.
Relatively speaking, buying the Clippers was not a super expensive purchase for the guy. He can hold on to it forever and the prices of sports franchises (goodwill predominantly) will continue to grow well after he dies.
In short, he has the money so why not? He needed to spend at least ~1.7BN to outbid the next closest guy and a few extra hundred million made sure he secured it.
2
Posted on 6/11/14 at 6:59 am to lynxcat
quote:
Expensive toy. It makes him part of a small group of people in the world that own a pro franchise.
Pro teams only come up for sale every so often, especially ones in big markets. Ballmer isn't getting any younger and he is worth $20 BILLION.
Relatively speaking, buying the Clippers was not a super expensive purchase for the guy. He can hold on to it forever and the prices of sports franchises (goodwill predominantly) will continue to grow well after he dies.
In short, he has the money so why not? He needed to spend at least ~1.7BN to outbid the next closest guy and a few extra hundred million made sure he secured it.
I agree with all of this.
Posted on 6/11/14 at 9:08 am to lynxcat
quote:
Expensive toy.
Certainly not a great estate planning move. A 60 year old man just set the value of an estate asset at $2 billion.
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