Dude doesn't have 3 billion dollars for a franchise. Unless he bought lots of TESLA stock back in the day.
Tillman should sell the Rockets and buy the Wolves. He can actually afford the wolves and he can move them here. Fastest rebuild ever.
This is interesting, and I think shows that the players...don't get it. In Thursday's post, Garnett fumed that his contributions to the franchise -- 10 All-Star nods and the aforementioned MVP in 12 seasons -- didn't seem to amount to much in his ownership pursuit. "Crazy that some of these special players that helped build these fuxin Franchises like a home but can never own them, only rent them.. GTFOH ISHHH IS A JOKE... your loss.." Yes, Kevin, that's exactly right. What you did as a player in no way impacts an owner's decision to sell, or not to sell, and to you and your group. That's all business. You act as if the owner OWES you selling you his franchise. That's....just ridiculous. You were well rewarded for playing, as you should have been, and that's what you were 'owed'. Turning that into something more is ON YOU. That you act this way here indicates you were never a good fit for ownership...you don't have the maturity or perspective for it. You'd have let emotions drive your decisions, and what do we all criticize owners for doing, across all sports? Just exactly that...getting emotionally involved with players, etc, and not making sound business decisions. Yes, your experience there as a player COULD have been a plus in being involved in ownership, but you needed to have marketed that, and that's on YOU. It also in no way indicates that the current owner should just bow down to you and sell, to you or to anyone. That's his decision. That you got all butt hurt about it indicates that you probably weren't fit for that role anyway. Too much of a sense of privilege (something else owners get knocked for when they have it).
$1.5B seems like a significant decrease for a NBA franchise. For prospective the Clippers were sold in 2014 for $2B, the Rockets were sold in 2017 for $2.2B. The Clippers are probably worth about 25%-35% more than the Rockets at any given time due to their market. I would say the Timberwolves are comparable to the Rockets as far as their franchise value goes. Franchise valuation often takes into account if there are legitimate max players signed, and the T-Wolves do have Towns and a legitimate up and coming star in AE. This really puts into prospective what a post pandemic franchise is worth. So it looks like Tilman has lost about $700M in value in 3.5 years. If he took out a loan for nearly the full value of the franchise (I believe the cash portion of the Rockets purchase came from taking out loans on the Golden Nugget), I believe this deal was highly levered from what it seems, the Rockets would need to be sold soon. There is also a chance that he took out additional loans to continue operations or that he was not paying down enough interest and letting more interest accrue, so it may be that he owes even more than the $2.2B purchase price. I do not think Tilman has that type of liquidity to make up the difference, and I think that there is an outside chance that Les could end up owning the team again (this is purely speculation on my part). It was my belief from the beginning that the team was owner financed and sold at the top because Les knew Tilman had a high probability of failure, and approved a loan on an asset he wanted to own. You see KKR do this all the time, approve a loan on an asset you know you'll get a chance to own for pennies on the dollar. Les has done well in both timing real estate as well as the stock market, I don't think this is too far fetched. He kept those trophies for a reason.
Is it due to the size of the city, or do we still have international exposure through China? Did we get back any of the Chinese sponsorships after Morey's tweet incident? I was thinking the Rockets today are closer to the T-Wolves in value than they would be the Clippers, and that is the reason I assumed there was a significant decrease in the value of NBA teams in this tier based on this sale. That tier being a second tier below NY/LA markets. The Rockets were sold for the highest amount in the history of the league in a very bullish market, I feel as though sports teams are off of that peak value. Edit: I guess you are correct, it seems as though the T-Wolves were valued around $1.4B earlier this year when the Rockets were valued at $2.5B. I guess Tilly is in the money on this one after all.
When I think Minnesota, I think A-Rod. When I think basketball, I think A-Rod. When I think of a guy getting caught cheat for using PED twice, and later sued the MLB / MLB players for character defamation, until later admitting guilty when more evidence came out.... He lost a bid for the Mets. MLB said no, NBA says yes.
Even if the fee to move to Las Vegas or Seattle is 500 million, arguable 2 billion to have a team in the market of Seattle and possibly vegas would be a great move. Not to mention, instead of all the new franchise cost and rebuilding you start out with KAT, Edwards, Russel and some talent that is ‘good enough’. That and silver seems more open than stern who was really strict on not wanting to lose franchises and old cities. All in all, having glen taylor out is a good thing, I’m sure the Minnesota coaches won’t miss the owner sitting right next to the damn bench while they work.
The Rockets come with a very friendly 25yr lease to operate the Toyota Center all year. The Timberwolves get nothing, as the city leases to AEG for operations. Not sure what the revenue stream is for essentially owning all the revenue from an arena in a major downtown (incl naming rigths), but willing to bet that’s a significant part of the difference in franchise value.
He and I have something in common. I know the name, that's about it. BBall gets a big ol' lifetime MEH from me.
A-rod being engaged to J-Lo kinda puts him into the pop culture category as well, most people would know who he is. When he was on the Yankees he dated numerous celebrities, and also had two of the largest contracts ever at that time. He literally was given contracts with career earnings that would be enough to have bought one of the teams he played for at the time. $500M guaranteed in career earnings 20 years ago is crazy. Kinda surprised that AE doesn't know who he is, as he famously claimed to be the best at every sport.
When your A1 from day1, you don’t have time to look around what else others are doing. This kid is hilarious, NBATV is missing out on a huge opportunity to make some type of reality show following around his kid whiles still an ‘innocent’ goofy rookie
