Tillman Fertitta - Laughingstock of NBA Ownership!

As far as net worth, Tilman did move up.

The other thing is some teams are own by a group so they're likely not counted (not enough shares, or too poor) to be on the list. As a NBA team become more expensive; the pool for a singular owner might trend downwards. It might shift more to a group ownership situation. The trend is slow, since NBA team ownership don't change too frequently.

As rich as a Lebron is; he's looking for a group to try to buy a Las Vegas NBA team; not pay it all himself. Tilman has past businesses he used as collateral. Lebron might have a portfolio, but he likely don't have the physical assets. A Lebron's nike shoe deal or gatorade fee is not something he could put down as collateral.

GSW's Joe Lacob's net worth is 1.8b; he just happens to be large shareholder of his group... Even through he's seen as the face of the ownership group. Between GSW's large salaries, lux tax situations, and the expensive San Fran location, Lacob has the perception of appearing richer (relative to the other owners) but is likely below average in actual net worth.

 

Because they didn't give Ariza that 3 year 20 mill max contract for a 34 year old 1 dimensional player

 

Poor guy. (I've been married 32 years and we are just a few months beyond a billion seconds together.)

 

It was never a 3 year deal. It was a measly one year deal. And Yeah he’s still an idiot and worst owner in the league. Said that since the summer of 2018 and every year it’s no different

and instead he scrapped the bottom of the barrel for scrubs like mcw and a washed melo. Both giving bottom barrel production and cf’s laughably loved each acquisition.

 

How tall is Tilman?

 

5'10....growing and shrinking by the day. Give or take.

 

So he's a legit 6 footer with shoes.

 

Billion resources to make himself look taller as well.

 

A lot has changed from COVID to post COVID, a lot of people who I am close to who are his competitors and run a similar play book in hospitality were close to losing it all, hospitality involves a lot of leverage and a COVID scenario is never forecasted even in a base case scenario for an investment, it was the end of the world for them and they were rescued. The Rockets are a big piece of his net worth, they have nearly doubled in value since he purchased them. He could literally sell 50% of the team and get all of his money back and pay down whatever loans he took out for the team, not that he would do that, but just an interesting scenario if he ever needed liquidity where he could essentially own 50% of the Rockets for free in a matter of a few years, or in other words he could sell a non-controlling minority of close to 49% and get close to the $2B he paid for the team. This is likely the best investment he has ever made from an IRR prospective.

 

He doesn't have $7B, that is not what net worth is. I have mentioned this in depth in other posts regarding how hospitality works, you are constantly leveraged and are often cash poor (he likely has under $50M in cash, and maybe a couple hundred million in relatively liquid securities, the rest of the assets are usually not liquid). Someone like Tilman typically has a relatively minimal amount of cash since most of it will be put to work, his net worth increases over the past 3 years are tied to existing asset appreciation and from developing something that was just land to a revenue generating entity, it doesnt necessarily mean it is a cash flowing entity yet, but the value of his assets or what someone else would be willing to pay for it has increased significantly, it doesnt really mean he is necessarily swimming in excess cash. Once you have the value of say a hotel increase once it is stabilized and cash flowing (usually around year 3 after opening), you refinance at a higher valuation and pull out your cash equity and roll that equity into your next deal, so you constantly remain leveraged and almost always cash poor, debt service is an Operating expense so it decreases your taxes, so there is benefit to refinancing for that reason as well.

A big piece of his net worth is tied to the valuation of the Rockets, he bought them for ~$2B. I think the Rockets are worth ~$4B today, so it is reasonable to say his net worth has gone up by that much, it doesnt mean the Rockets are going to bring in any type of multiple of additional cash flow related to the added $2B in valuation, just means the market value of the team has gone up. The Hornets were sold this year at a $3B valuation (smaller market, and likely one of the lowest valued franchises), the Suns were sold for $4B ( I think Houston would be valued the same or more than the Suns). Also, NBA teams historically have been mostly close to break even, with the top 10 teams making a little bit of money, and most of that money is tied to TV and branding deals, a lot has changed with new deals so maybe a championship can generate enough money to pay for the added costs, but not sure on this as its not easily available info. Either way, they are not all cash flowing hundreds of millions a year, I can guarantee that much.

 

He should sell the team.

 

i inserted prime mergady to the hornets in 2k and beat the rockets by 102 points.

 

So Prime Brandon Miller is pulling a gun and to threaten the Rox to not move.

 

the rox shoulda moved tho. mexico city rockets has a nice ring to it

 

The Tijuana Cartels.

 

“The Mexico City Yayo”

 

The Mexican Cheap Liquors and Boobies.

 

the mexico city aliens, for when they cross borders