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[ruh-oh] Restaurateur Tilman Fertitta Desperately Seeks Cash Infusion For His Hospitality Empire

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by iJHolmes, Apr 9, 2020.

  1. iJHolmes

    iJHolmes Member

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    We already knew he was broke, but what does this mean for the Rockets?

    https://houston.eater.com/2020/4/9/...hjRhPMXA3r3eVtq9T0HeUqdevAQos4KUOTlDyUgIv5Rz8
     
  2. apollo33

    apollo33 Member

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    Please sell please sell
     
    Kornel87, Sadboy, seclusion and 15 others like this.
  3. bleedroxred79

    bleedroxred79 Member

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    Everybody knows he's broke AF. He's not gonna go down without a fight. Selling the Rox will be his last resort....unfortunately
     
  4. BigBum

    BigBum Member

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    It means offseason
    1, Trade Covington into first round pick to save 8 million a year,
    2, Dump Gordon salary to save 76 million dollars,
    3, Not giving Tucker extension to save 8 million dollars
    Two mvps Surrounded with all of the minimum salary guys or 10 day and 2 way contracts.

    Tilman needs to pay
    Property tax for all property
    7 types of insurance for hotel
    Maintenance
    Multiple 100 millions of dollars interest expense a year
     
    #4 BigBum, Apr 9, 2020
    Last edited: Apr 9, 2020
    amaru likes this.
  5. REEKO_HTOWN

    REEKO_HTOWN I'm Rich Biiiiaaatch!

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    Seattle Super Rockets
     
  6. vick

    vick Member

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    What about the Mattress Mac, Houston Rockets.
     
    gatsby and naldodiaz like this.
  7. Nook

    Nook Member

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    Very unlikely the Rockets are moved.

    In the Houston market the team is worth over two billion dollars. Someone buying a team to move it to Seattle is going to buy a small market team for less money and move it.
     
    D-rock, Pistol Pete and sammy like this.
  8. RKREBORN

    RKREBORN Member

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    As much as I HATE the city of Dallas, I would love for Mark Cuban to own our team
     
    Sadboy, seclusion, Tankeio and 6 others like this.
  9. Nook

    Nook Member

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    He doesn’t want to sell any of his entities or take on partners. Basically he isn’t willing to take a step back and secure the rest of his assets.

    There are plenty of investors that would take part ownership in exchange for a large investment. He has an excellent track record in the lending community. If he can take it week by week he will find lenders.

    He certainly knows his businesses better than I do but he has been playing with fire borrowing so much and counting on his purchases to always make enough money to pay lenders.

    I thought the Rockets were his attempt to get away from the falling entertainment and dinning industry but he has made numerous purchases since then.
     
    BigMaloe, D-rock, whiskeyred and 2 others like this.
  10. Blurr#7

    Blurr#7 Contributing Member

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    Not sure about that, Rockets are his biggest and most valuable asset. He would have offers almost immediately as opposed to his other ventures.
     
    tmoney1101 likes this.
  11. TilmanFinancialWindfall

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  12. rimrocker

    rimrocker Contributing Member

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    Hey Fritatta: Sell.
     
    gatsby, UTSA2step, Mathloom and 5 others like this.
  13. tmoney1101

    tmoney1101 Contributing Member

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    The rockets are also his rarest commodity. He could probably break even on the team but he’d still own all that interest since he didn’t buy them with cash. That’s a tough pill to swallow.
     
    Nook likes this.
  14. Nook

    Nook Member

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    He doesn’t have near the finances to buy the team. He could be a viable investor but TF doesn’t want an investor owning a percentage of the team.

    TF turned down an offer of 1 billion for a 50% stake in the team from Michael Dell.
     
    D-rock and REEKO_HTOWN like this.
  15. BigBum

    BigBum Member

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    Rockets revenue last two years are 326 million and 348 million. I guess Tilman makes 80 million to 120 million a year.
     
  16. AroundTheWorld

    AroundTheWorld ಠ_ರೃ
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    He is highly leveraged. He will somehow get out of it.
    But the hubris and arrogance of publishing a book titled "Shut up and listen" when he really isn't a very educated or classy person is interesting.
     
    payaso, CometsWin, gatsby and 10 others like this.
  17. Sean Dr34ms

    Sean Dr34ms Member

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    Should let Deke’s group buy.
     
    juanm34 likes this.
  18. BigBum

    BigBum Member

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    When?
    Dell assets is equal to 8 Tilmans last year.
     
  19. Nook

    Nook Member

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    No he isn’t. He has made a lot of money but There is nothing admirable about him as a person.

    Pre COVID19.

    Yes, Dell is worth nearly 40 billion dollars and is relatively young.
     
    D-rock and Wulaw Horn like this.
  20. napalm06

    napalm06 Missed Three Pointer Enthusiast
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    With every day that passes I think his chances of "getting out of it" dwindle.

    And he won't accept a partnership structure because he's deluded himself into believing his own greatness. His business model is buying distressed restaurant groups, firing the management and running it himself using small margin economies of scale.

    He truly believes he doesn't need anyone else helping him run something. And he thinks massive leverage and debt make him well positioned. This is the exact kind of crisis that will break someone like that.
     
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