LOL @ this threads. Technically, he's not BUYING anything. He's parking his money for larger returns than a bank would give him. The franchise made $244 million last year. So in essence, he just got more than 10% annually. Also, keep this in mind...this deal took less than 3 months to complete. That means he reached into his own pocket and pulled out a fortune BY HIMSELF. No other investors that we know of. It would take 3 months just to put a group with that kind of jack together. Guy drops over $2B (with a f'g B gentlemen for those that do not know, that's $2,200 Million) and some think he's broke. You have no concept about money even if he has only $1 million left after the fact still richer than more than 70% of Americans and he would have $244 million by years end. Let that sink in. When all is said and done, he's still worth more than $3 BILLION. It's just not liquid. LOL @ this thread
Not so fast! I'm still trying to figure out what clever permutation of his name CFers will use to signify how cheap he is after he fails to overpay some hack free agent. "Le$$" was perfect in its simplicity.
If I get a boardwalk season pass, will that allow me to go to Rockets games in addition to kemah/pleasure pier?
That's Tilman with two L's. TWO L's!! Otherwise, I agree. I've heard that they are both loaded (I certainly hope so, in Codman's case). Wait, are you talking about money? (look out for heypartner. He's on a spellcheck mission)
My crusade of spelling everyone's name correctly (even practicing what I preach on my own accuracy of spelling BBS monikers correctly) all started when we got Juwan Howard, and many ppl started misspelling Olajuwan to match. It should have been the other way around; ie., misspell Juwon to match Olajuwon...grrrr... That kept me up at night.
Well, a "till" is a money drawer. So maybe the Tillman misspelling is enough ... the man who guards the Till. Or, something like Tillbox or Tillmoney
I'm 99% sure he's financing the Rockets. The dude is worth around $2.8-3.1 billion and bought the team for $2.2 billion which is about 70% of his net worth, there is no way in hell the NBA would approve this purchase if they knew Tillman was some sort of financial risk, the last thing the NBA needs is another NO Hornets situation. He was however worth more than Les before the purchase and probabaly will be worth more after, I just hope he's in it for the long haul and is not going to flake out after 3-5 years. I do think he will start selling off his Casinos and possibly his whole restaurant empire for a good penny so that he can focus on the Rockets and being them back to the finals.
What financial risk? The TV contracts are paying all the salaries. There is pretty much 0 risk with sports teams. Even if you go bankrupt you will still make a ton of money. For example take the dogers old owner.
Is the Mafia in ever financial trouble? Has Don Corelone or Scarface ever had to file for Chapter 11?
It's so great to have the Rockets owned by the Foreign State department and Exxon Mobil! So much money (oil and taxpayers) to support our Rockets
I dont see that happening, not all of it. Mark Cuban is one of the most involved owners, and he's still all over the place with business ventures. - Tilman and Cuban have basically the same net worth. Though of course Cuban paid 10 times LESS buying price for Mavs than Tilman for Rockets, so Cuban has more gross money after operating costs.
