Shelley Sterling reported to be negotiating sale of team

[PatsFan1283]

She wanted to maintain minority ownership, seems like thats why it was rebuffed. That was the string attached you speak of.

The main point is the team is going to move from point A to point B pretty swiftly it seems like, which is what many on this forum said the exact opposite of.

Who knows maybe Sterling will say fuck this and get all litigious at any moment but for now doesn't look like it.

 

[snoop]

Basically, where it stands now, Donald has caved in. He can't back track the rumors, maybe he can, no one knows what his next plan is....

Shelly wants to retain her interest of the Clippers, and the divorce option is still on the table.

 

[PatsFan1283]

Ehh I think he can definitely backtrack the rumors. It's just a report.

He could still say he DGAF and sue or whatever. I tend to doubt it though....

The team is worth so much on the open market, my guess is he just sells.

Like I've said on this board, what is even the point of going to court? Even if a judge lets you keep the team, the free market won't...

 

[snoop]

What is Clippers net income?

 

[PatsFan1283]

What is Clippers net income?

They aren't a public company so that isn't known, why?

Also they are getting a new local TV deal and new national TV deal within the next few years, so whatever that # is, it doesn't have much meaning.

 

[snoop]

I'm trying to understand why Shelly is so adamant of keeping the Clippers.

 

[PatsFan1283]

I'm trying to understand why Shelly is so adamant of keeping the Clippers.

A million reasons. There are tons of rich people in LA, but only 2 families can say they own NBA teams.

Being an owner of a sports team has a certain amount of cache that owning 400 million in real estate or owning a software company doesn't. This is a comfort she has known for over 30 years now. I feel pretty confident in saying this isn't about dollars and cents to her at all.

Sports teams never sell on pure valuation, the market value is usually just determined by what the going rate for a team is at that time rather than something like P/E or net income. Every team has a built in premium since it isn't a normal business and there is such a finite number of them.

 

[snoop]

Forbes values it @$575 million, yearly income is about $15 million. You're right, money probably is not an issue, she just wants to hang on to her favorite toy.

 

[Vlad the Impaler]

He should say publicly " give me 100 billion and the team is yours, if not fuck off, talk to my attorneys, fuck off again" and more words offered but I understand so am censored. I would have a field day if I were in his position. Why not sell Chris Paul to the Bucks? "You like living in Milwaueke Chris and not LA, am I still a bad guy Chris. Oh by the way, here is your 200k this week for getting us to the same place we would be without you. Thats it, Ron, take him to Pelican Bay"

 

[PatsFan1283]

Those Forbes valuations are long gone though. Clippers are worth atleast 1.5 billion. The Knicks are owned by public company MSG along with the Rangers and that company trades for around 3.5-4B valuation. They have other assets but Knicks are their main asset.

Bucks and Kings sold for almost the 575 #. A better number to look at is the Dodgers sold for 2 billion, although that was a legit overbid after the team was in the BK process.

Clipps up for sale will yield around 1.5, maybe 2 if enough heavy hitters get into the bidding.

 

[Vlad the Impaler]

What a sad world and great investment for the old timers who would buy a pro sports franchise back in the day for 5 million, now try buying one with less than 800 million. Even Mark Cuban paid less than 300 million and that was only 14 years ago. You want to boycott someone; try the entire NBA. I would not pay a single player over 120K? You know why; there is no place else in the world that an unintelligent person with no skills accept athleticism can make that $$. Pro sports franchises are only afraid from being labeled "racist". Why dont the owners when they negotiate the CBA get this? Honestly, Lebron James will prob. have a net worth of 700 million plus at the age of 38. Say "we will pay you 120K this season, Lebron if you feel that is unfair, PNC bank is currently hiring tellers". Imagine you have a career in only 1 industry which happens to have only 1 employer. What would happen?

 

[snoop]

Some crazy numbers there, Pat. Considering that paid $13 million for the Clippers, peanut butter comparing to what it is worth now. I would sell the team at a heartbeat if I were her.

But...I'm not Shelly.

 

[PatsFan1283]

What a sad world and great investment for the old timers who would buy a pro sports franchise back in the day for 5 million, now try buying one with less than 800 million. Even Mark Cuban paid less than 300 million and that was only 14 years ago. You want to boycott someone; try the entire NBA. I would not pay a single player over 120K? You know why; there is no place else in the world that an unintelligent person with no skills accept athleticism can make that $$. Pro sports franchises are only afraid from being labeled "racist". Why dont the owners when they negotiate the CBA get this? Honestly, Lebron James will prob. have a net worth of 700 million plus at the age of 38. Say "we will pay you 120K this season, Lebron if you feel that is unfair, PNC bank is currently hiring tellers". Imagine you have a career in only 1 industry which happens to have only 1 employer. What would happen?

lol

What would happen? The free market would happen

 

[Vlad the Impaler]

Exactly. Pat, you are starting an opposing company to the NBA. You cant afford to pay him 12 million a year. The NBA is the only business that can afford too. So realize that and give an ultimatum. Basketball, prison ( we have seen his mom), or PNC teller job.

 

[PatsFan1283]

Think you are underestimating the free market a bit.

Trust me, teams don't mind paying LeBron or Peyton Manning for the revenue they produce. It is a pretty nice deal.

 

[Vlad the Impaler]

And eventually the same will happen to college football. They basically get paid 40K a year maybe? I don't know; just going off scholarships. Most suck and have no impact on a single game and zero shot at the NFL yet are bitching they get a free education because these 3 guys who represent .00003% of scholar athletes are making the university which doesn't need most of these guys is making $$. Would Vince Young ever touch a college campus and have a legit although fixed chance to get a degree? We know I can name 500 guys just like him. Where would Jameis Winston be right now if he was 5'5" and not athletic but had his exact resume when applying to colleges? Not only do they get college paid for, they are the talk of the campus and get the pussy that goes with it.

 

[PatsFan1283]

Vlad you have serious issues with capitalism. I'm afraid you are in the wrong country man....

 

[HarryCaray]

lol

What would happen? The free market would happen

I don't think he is suggesting one owner take a rogue stance but rather they all band together and execute a massive free market "adjustment".

It's an interesting concept, I mean it's not like even the best players in the world would say no to 1M/yr if their other option was to fall back on their half of a degree in communicatinos.

 

[PatsFan1283]

I don't think he is suggesting one owner take a rogue stance but rather they all band together and execute a massive free market "adjustment".

It's an interesting concept, I mean it's not like even the best players in the world would say no to 1M/yr if their other option was to fall back on their half of a degree in communicatinos.

Then the world that we live in that is awash with capital waiting to be deployed on positive expectation investments would form a league that would put the NFL/NBA/MLB to shame.

You think these owners wouldn't pay people 1M instead of 25M in MLB if they could?

Free market is a lot stronger than you think. Sports is lucrative big business.

 

[Dafinch]

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