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Rule preventing citizen ownership?
Posted on 12/6/10 at 1:32 am
Posted on 12/6/10 at 1:32 am
I know in the NFL ownership rules were limited to 32 owners per team with one owner owning a minimum of 30%. (The Packers were grandfathered in and they have 112,000 owners each holding at least 200$ in stock of the team.$
Do you think we could get this done for the Hornets, something similar to what the Packers have? Individuals would own non-profit, non-transferable stock in the team which would keep them here in New Orleans.
Or is there a similar NFL type rule preventing this from happening?
Do you think we could get this done for the Hornets, something similar to what the Packers have? Individuals would own non-profit, non-transferable stock in the team which would keep them here in New Orleans.
Or is there a similar NFL type rule preventing this from happening?
This post was edited on 12/6/10 at 1:35 am
4
Posted on 12/6/10 at 7:47 am to xXLSUXx
My thoughts exactly...I would buy shares to keep the Hornets in town.
Posted on 12/6/10 at 8:01 am to xXLSUXx
They can't even sell out the arena, they won't raise $300 million for a community owned team. Let's say you could get $100 million in big money investors, that still leaves $200 million for the "citizens" $200,000,000 divided by 17000 is $11,764. So if you had an arena full of hardcore fans, which the Hornets don't, there would be a one time charge of over 10 grand for the privilege of paying for season tickets.
Posted on 12/6/10 at 9:10 am to TigerinATL
quote:
TigerinATL
You don't have to limit one share per person. You could get a lot more than 17,000 people to each buy a share thus dropping the price considerably. Anywhere from 100-400$. It also depends on how much you let each individual buy. (You could cap it to prevent any one particular citizen from holding the majority of stock.).
While I'm not sure it would even work out financially, (We can't put 14k people in the stadium then it's probably bleeding in value, so I'm not saying it's a wise choice.) all I'm asking is if there IS a rule PREVENTING citizen ownership?
Posted on 12/6/10 at 9:16 am to xXLSUXx
Our city struggles to pay for trash pickup.
Posted on 12/6/10 at 9:23 am to Chad504boy
Don't confuse city ownership with citizen ownership.
Posted on 12/6/10 at 9:25 am to xXLSUXx
quote:
Don't confuse city ownership with citizen ownership.
You don't think that city gov't won't frick that up... Yeah... uh huh...
Posted on 12/6/10 at 7:22 pm to Chad504boy
quote:
You don't think that city gov't won't frick that up... Yeah... uh huh...
The city government controls what individual citizens can invest in? So that's why my 401k was shite a few years ago.
Reeding iss gud.
Posted on 12/6/10 at 7:26 pm to xXLSUXx
The Celtics were publicly traded on the NYSE at one point in time.
Posted on 12/6/10 at 10:27 pm to TulaneTigerFan
Wont happen... Hornets wont be here in 5 years
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