I don't think he is in with Red Bull's group unless I'm reading things incorrectly. Seems like they're competition
LeBron James Is Expected To Make A Bid For Projected $7B Expansion Team In Las Vegas
- Thread starter Big Boss
- Start date
UpAndComing
Veteran
No one ever buys a Sports team outright singularly by themselves anyway
Not even billionaires do that, they almost always use an ownership group, bank loans, and future payment contingencies
It would take an Ownership group spearheaded by LeBron to get the deal done
He can eventually become the majority owner if he puts in the deal that he wants to buy more equity in increments year by year
The NBA wants more Steve Ballmer level wealthy mfers owning teams. Look at that Clippers stadium
Trojan 24
Veteran
For some reason I thought they would set a price of like 4 Billy and award the group they voted which would give Bron a shot. But I guess they would instantly hand that group a 100% gain on investment, so that don't make sense. So Bron gonna be more Magic part owner of the Redskins type deal it seems
ahomeplateslugger
Superstar
i remember bill simmons talking about the expansion teams and Bron wanting to be involved in the Vegas team. it'll be interesting to see what happens because the optics of Bron being an owner of a team would be a good look.
red bull makes a lot of sense from a business stand point. they have a large presence in markets the NBA hasn't really tapped in and are involved in a bunch of other sports already.
red bull makes a lot of sense from a business stand point. they have a large presence in markets the NBA hasn't really tapped in and are involved in a bunch of other sports already.
Trojan 24
Veteran
The NBA wants more Steve Ballmer level wealthy mfers owning teams. Look at that Clippers stadium
It's the best option for all leagues if they can get em, dudes that can just build they own stadiums without public funding and all that
There are wealthy people on this planet who don't need a group to purchase a team. The "group" angle is PR for the figure head athlete that is being looped into the deal for optics.
Jeff Bezos doesn't need a group to buy the Celtics, just like Ballmer didn't need a group to buy the Clippers.
Facts. Bezos might end up doing the group shyt though, looks like he working with Tom Brady
ITS BULLshyt THOUGH
BECAUSE A LOT OF THESE TEAMS
WERE BOUGHT FOR 1000% LESS
NOT TOO LONG AGO
AND NOW THEYRE TRYING
TO MAKE SURE THEY PRICE nikkaS OUT.
CELTICS WERE SOLD FOR 360 MILLION
IN 2002.
NOW THEY MIGHT SELL FOR 4-5 BILLION.
360 MILLION IN 2002
IS 629 MILLION IN 2024.
ONCE nikkaS STARTED GETTING MONEY
THE PRICES OF THESE TEAMS SHOT
THROUGH THE ROOF TO PREVENT OWNERSHIP.
beenz
Rap Guerilla
was jordan really one of us?????
also, from what I heard, jordan got in so much gambling debt and didn't have the cash to pay it off, he was essentially forced to sell the hornets just for the liquidity.
BUCKS SOLD FOR 550 MILLION
IN 2014
WIZARDS 550 MILLION IN 2010
KINGS 534 MILLION IN 2013
GOLDEN STATE 450 MILLION
IN 2010
GRIZZLIES 350 MILLION
IN 2012
AND THE LIST GOES ON.
ITS ABSOLUTE BULLshyt
So much of that can be funded though since it’s an expansion team and not buying a team.
Bron could get the money financed from a huge firm and get it done. Buying a team is so much different than starting one because there’s no one to buy out.
was jordan really one of us?????
also, from what I heard, jordan got in so much gambling debt and didn't have the cash to pay it off, he was essentially forced to sell the hornets just for the liquidity.
MJ's had tons of black execs when he was with the Hornets
UpAndComing
Veteran
You live in a fairytale land if you think ANYONE buys something worth a $Billion outright with no loan, no payment plan, no contingencies, etc etc
Here's How Mat Ishbia Bought the Phoenix Suns
"Mat Ishbia, the new owner of the Phoenix Suns, pledged more than half of mortgage giant UWM Holdings Corp.’s outstanding shares to secure loans before buying the NBA team for a record $4 billion," said author Tom Maloney.
"Ishbia, UWM’s chairman and chief executive officer, pledged stock he controls currently worth about $4.6 billion to back two loans that were finalized days before his purchase of the Suns was approved.
"He holds his stake through SFS Holding Corp., which owns 94% of UWM’s outstanding stock and pledged the shares, according to the firm’s 2023 proxy statement. Other investors in SFS include his brother Justin, managing partner of Shore Capital who bought a stake in the team alongside Mat.
"SFS pledged 805 million shares to secure the two loans, slightly more than half of UWM’s outstanding stock. JPMorgan Chase & Co. was the lender on both deals, according to public records. The loan sizes weren’t disclosed."
The Coli is really something else. The fact that this has to be explained
