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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. kjayp

    kjayp Contributing Member

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    welp... if you cant run with the big dogs - maybe u oughtta stay on the porch with the puppies...


    lol
     
    DeBeards likes this.
  2. Carl Herrera

    Carl Herrera Contributing Member

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    Will the financiers shut up and listen to Tilman?
     
    MD_in_Training likes this.
  3. lnchan

    lnchan LeonardTX26
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    Last furniture store magnate that bought a team... it was the Comets. It didn't end well.
     
    REEKO_HTOWN and J Sizzle like this.
  4. donkeypunch

    donkeypunch Contributing Member

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    You trying to give us blue balls man? Why the hell didnt he offer to begin with when Less wanted to move to Florida? Why doesnt he just outright buy them now? So many questions man.

    Tech Billionaire(that actually knows what the hell hes doing) >>>>>>>>>>> tillman
     
    D-rock and lilbird20 like this.
  5. sirjesse

    sirjesse Member

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    Tell him to check with CJ McCollum. He has experience with all sorts of millionaires that need a cash infusion.
     
    pippendagimp and BigShasta like this.
  6. Deckard

    Deckard Blade Runner
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    Really? He's done an enormous amount of charitable work here in Austin, which he considers home. A genuine billionaire. Were it me, I wouldn't take less than a 51% stake in the Rockets, though. Regardless, I'd be happy if he was a major investor in the Rockets. I really admire the guy. One of our kids spent a week in intensive care at the Dell Children's Hospital, which wouldn't have existed without the man and his wife, who is also impressive and involved in charitable work. He would work to make the the Rockets a success if he owned the team, in my opinion. He would also do a lot for the city. Unlike Fertitta, cheap isn't his middle name. We could do a hell of a lot worse.

    As for Tilman turning down a billion dollars, he's likely angling for more and needs it.
     
    gatsby, D-rock, UTSA2step and 5 others like this.
  7. BallSoHarden

    BallSoHarden Member

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    I do not understand why people on this forum continually bring up Mattress Mac as a potential owner. Jim has a $75mm-300mm net worth. You guys really think that after a guy with a rumored $4b net worth cant handle owning the team he just bought, the NBA would be cool with a guy who has less than 5-10% of that and a history of gambling heavily on sports owning the team? Buying an NBA team is not like buying a new BMW where just about anyone can walk out with a new car with 0 money down.

    No lender will simply let you use the team as collateral, you've got to have real assets, some real liquidity. There are several individuals in Texas who have the ability to put together a group to purchase the team, similar to how the Astros were purchased, but a guy slinging Mattresses off the side of the freeway is not going to get financing for $2b on a trophy asset. If it got to the point where the team's valuation is crushed, which with COVID in my opinion it highly likely, you are looking at a 30-50% decline in what someone is willing to pay for an asset that does not generate anywhere near an acceptable amount of net income a similarly priced business would. The people who can easily afford the team use downturns like this to buy assets that generate solid returns, this is the time when wealth is generated, not when trophy assets are sold at a premium.

    He may have an opportunity to be a minority owner, maybe they let him throw up some mattress ads in Toyota center.
     
  8. donkeypunch

    donkeypunch Contributing Member

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    I just looked at his wiki and it says he donated 36mil to Harvey relief efforts. For me at least, that donation news went under the radar, which tells me he doesnt seek limelight. Unlike our current owner, whos ready to push anybody out the way to jump in front a camera any chance he gets.
     
    gatsby, D-rock, MrSabotage and 5 others like this.
  9. blackistan

    blackistan Member

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    Is there anyway the McNairs could be forced to sell the texans
     
  10. Mango

    Mango Contributing Member

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    Has anybody ran the numbers to see what Golden Nugget has to pay yearly just in interest on the debt/bonds?
     
  11. DaonlyLA

    DaonlyLA Member

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    There is such a thing a good debt people. When you're in debt to make money it's pretty much renting money. leveraging is how you can get RICH.. and debt is untaxable. He's far from broke but he's a successful business man for a reason. all facets of his empire was hit due to this pandemic. He'll bounce back but he's still a Billionaire..
     
    D-rock and BigShasta like this.
  12. daywalker02

    daywalker02 Easter Egg Hunter - Tell me why? نحن عائلة
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  13. JW86

    JW86 Member

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    Time to cheer for another team, go north!
     
  14. MD_in_Training

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    His business is restaurants, hotels, and casinos... he's done and likely won't be back to his previous wealth. COVID isn't just a temporary shock - this is a transformative phenomenon. There will be no quick recovery.
     
  15. Magicsaint

    Magicsaint Member

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    Another over-leveraged billionaire that tries to grow too fast with cheap money. This is a reality check for all American businesses that run their empire on large debts and overvalue their assets. It seems he can't even raise $250 million with his own assets which tells me it was overpriced from the beginning. Either that or his math probably shows temporary cash crunch which can be recovered quickly without selling any assets.
     
  16. daywalker02

    daywalker02 Easter Egg Hunter - Tell me why? نحن عائلة
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    Tourism, food service and catering industries would get hit the hardest and surely gambling.
     
  17. tinman

    tinman Contributing Member
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    Jeff Bezos can do that
    And not care cause he’s up 100 bill
     
    Hakeemtheking likes this.
  18. tinman

    tinman Contributing Member
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    @Reeko
    I heard Matress Mack has billions of dollars Stashed in his Serta Mattresses
     
    Jayzers_100 likes this.
  19. Mr.Scarface

    Mr.Scarface Member

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    NBA will not allow the Rockets to be moved.
     
  20. napalm06

    napalm06 Missed Three Pointer Enthusiast
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    Could Tilman get along with a sophisticated, more successful, able to spend partner? I doubt it. He has a major superiority complex.

    As for why Dell didn't buy the team, its likely that Tilman bought at an aggressive valuation just so he could own it. At the time it sounded like others found the price surprising.

    Its like a car up at auction - you know its worth 100k but some guy swoops in and bids 175k because he has to own it. Maybe you have more money than him but you're not gonna pull the trigger. Shut up and listen.
     
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