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re: Will we ever see a publicly traded franchise in a major American sport?
Posted on 3/17/15 at 11:10 am to TigerintheNO
Posted on 3/17/15 at 11:10 am to TigerintheNO
The reason to go public is to access the capital debt market. None of these leagues have debt or issues with capital on hand. If a team/owner does get in trouble the franchise is just sold to many of the potential buyers waiting in the wings.
1
Posted on 3/17/15 at 11:43 am to WalkingTurtles
quote:
None of these leagues have debt or issues with capital on hand
That's not true, there have been a lot of NHL teams that had to file bankruptcy in the past 20 years. NBA had to take over the Hornets, and the Bobcats were in even worse shape when Jordan bought their debt. MLB had to take over the Dodgers & the Rangers filed to bankruptcy, both in the past ten years.
I have no idea why the Celtics went public, but one of the guys, I knew who owned the stock said it was great deal. They paid dividends which he said over the years equaled what he paid for the stock. When the current owners bought the team, they bought all the stocks back.
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