Heard something through the grapevine...Supposedly needs/wants the liquidity... Maybe there's nothing to it.
Highly doubtful. 10 Richest NBA Owners Steve Ballmer, Los Angeles Clippers, $142 Billion. Dan Gilbert, Cleveland Cavaliers, $25 Billion. ... Stan Kroenke, Denver Nuggets, $17.6 Billion. ... Micky Arison, Miami Heat, $12.8 Billion. ... Tom Gores, Detroit Pistons, $11.3 Billion. ... Tilman Fertitta, Houston Rockets, $11.2 Billion. ...
He just bought retail property worth 450M a couple months ago. Doesnt scream illiquid to me... https://www.google.com/amp/s/www.fo...-buys-river-oaks-district-for-450-million.amp
He's in the process of trying to acquire 2 more teams for Houston, a WNBA franchise and an NHL franchise....I highly doubt he's even considering selling.
If he didn't sell through covid when all his businesses were struggling I doubt he will sell now. Maybe a stake, but he would maintain majority control. Just my thoughts on it without any sauces.
I assume if he wanted some cash, he could just do what Tsai did and sell a minority stake (from my understanding of that deal).
Heard through the grapevine that @DaDakota is looking into buying the team . In the short term, he will take over day-to-day management of basketball operations from Patrick Fertitta.
Wealth != liquidity. It's very possible to be profitable but insolvent if you're leveraged to the hilt. Not arguing in support of OP, though.
I doubt Tillman is looking to sell but soon-ish might not be a bad time to cash out if you own an NBA team as an investment. The tv ratings aren’t great and I’m somewhat perplexed at the massive media deal this go round. It wouldn’t shock me if there’s a correction with the next one.
He will likely be forced between owning the gambling in Houston when it's legal within the next 5 years or owning the Rockets. Cuban chose the unknown. I believe Tilman will too.
