Guys (and gals), I don't post often, maybe once a year, but the financial markets have not been kind to our owner. I only know this by looking at his Forbes ranking, and the equity position he holds in FMD, First Marblehead, he owns something around 14.2 million shares (15% of total company). Now if my calculations are correct, he will have lost something around 600-700 million dollars, half of his net worth in the past two weeks. I only post this because we have heard rumors of the team being up for sale before, and although I am in no way trying to create rumors, this is a large loss.
Question is: how much are the Rockets worth as a team? If it's in the 300 million range, then our man Les is looking at some serious problems with his money. Burning half your remaining networth on an underachieving pro basketball team isn't exactly the best way to get back up. This might sound a little ignorant, but how in the blue world did Les lose that much in such a short amount?
Surely his loses couldn't approach that?? If true - Always appreciate any inside info, although this doesn't qualify, exactly. Anyway, hope this is wrong!
OMG!!! That is the only Christmas gift I've been asking for a new OWNER!!! No way a new owner would move this team its in the 5th largest market in the USA!
Wait is that true? I guess Jordan in Washington had some conflict. But I remember Laetner recently finding some loophole.
day-f'ing-yum! he's looking at 5 hundo in losses since it was at 40.60 3 months ago! granted, he's still got several hundred million left over and owns the 5th most valuable nba franchise, which he could turn into another couple hundred, so he'll still be able to put food on the table, but that hurts no matter who you are.
Yes, since Nov. 30, it would be 300 million, but since the begining of the year where FMD traded at over 50, the loss is well over 600 million.
