The fact that they are presenting an incentive filled contract based on just making the playoffs should be a red flag for next season. If you go from a #1, and #2 team the last two years, to even thinking of not making the playoffs next year, what is management thinking? If I were to guess, it would be that they are going to blow up a competitive team to save money, and expect D'Antoni to still be successful. This seems like a bit of a knee jerk for the second best team in the NBA. It really is insulting, without knowing who is going to be on the roster, knowing the entire team is available, and then to ask someone to sign a deal based on what other people (Tilman/Morey) do? It would be slightly more reasonable if they were sure of who was returning and making a few minor tweaks or promise to upgrade, but to provide no guaranteed direction of the roster, I would quit if I were D'Antoni.
Sarver 2.0? Tilman is on a whole diferent level of wealth the Sarver. Sarver isn't even a billionaire.
Billionaire Tilman Fertitta is nearing a deal to buy the 258-room Montage Laguna Beach resort for at least $650 million. https://therealdeal.com/la/2022/11/...man-fertitta-to-buy-montage-laguna-beach/amp/ @tinman @J.R. @Jontro @Snow Villiers bros trip soon. Landry’s seafood and beach vibes.
Tilman ain’t broke That’s just a Clutchfans joke He’s got all the restaurants That a fat person wants Clutchfans stirs up the drama Will start dancing once we get Webyama He’s got casinos in Vegas and Louisiana A little bit of this a little of that like Carlos Santana Now he might get the Washington football team He’s not Sengun , he’s in the paint like the Dream Is @Nook a snitch ? No, but we know for sure Tilman is rich @J.R. @Aruba77 @Os Trigonum @Reeko
It kind of is, to be honest. Tilman is not the type of guy who can write you a big check. Tilman buys a business with debt, the asset appreciates, allowing to further borrow against it, new asset, new appreciation, new debt, new appreciation. The tax laws are advantageous to this type of structure. He isn't particularly smart or innovative, far from it, he just has a proven model at a large scale. Worst type of owner to have.
I wish he can sell the team. He has money, but never hires a real coach, including shooting coach. In addition, Rockets have the worst practice facility in NBA.
billionaires play with very different set of rules when it comes to debt service. Tillman might have more money than we can ever anticipate, but he certainly isn’t broke. But I can confidently say I don’t believe he’s multiple sports teams wealthy…however if his casinos make good money, I’m sure a few banks wouldn’t mind coughing up what he’s asking for.
It sort of is. Essentially he is getting financing based on the perceived value in EXCESS of what he owes on his other businesses. So he could borrow 500 million for some property, and if in 3-4 years it is worth a billion dollars, then he has basically 500 million in equity, and if you do that enough, the amount he can borrow will increase. For example, lets look at the Rockets. He bought them for 2.2 billion dollars in 2017. There was SOME risk in that, because he theoretically could have defaulted on part of it. In fact, other wealthy people reached out trying to buy a portion of the team because Tilmman was so leveraged. Tillman passed and held onto the Rockets through COVID. The Milwaukee Bucks this morning were sold for 3.5 billion dollars, and the Suns were sold for right around 4 billion. The Rockets are a better market now and long term. The Rockets now have a worth of at least 5 billion and probably closer to 5.5 billion to 6 billion dollars. So, essentially if Tillman SOLD the Rockets, he could before taxes pocket 3 billion dollars. However, what it REALLY does is it allows Tillman to now get financing to buy MORE properties, interests, etc. on interest. So it is kind of a legal shell game, but he Tillman has been VERY successful at it, and short of the economy completely collapsing, he will likely be fine.
Does this mean he can afford to quit cutting corners in his restaurants and give better portions and pay for better ingredients so that I might actually be able to eat at one of them without having to buy a Sprite at Valero afterwards to belch away the aftertaste? LANDRY'S: AT LEAST WE'RE NOT RED LOBSTER ain't cuttin' it, hence, I don't go.
That is how he has made his fortune. Owning restaurants isn't enough to own a pro sports franchise. He has seen the value of his basketball team almost triple in 5 years. He really wants to own a pro football or baseball team as well. I expect he will eventually get the pro football team he wants, and if the Astros are ever sold, he will do what he can to get them as well.
He CAN, but he won't. The guy actually said that one of the things he is most proud of is making restaurants stop cutting lemons and limes from quarters, into segments of 8..... that it saved each restaurant something like 50 dollars a month....... so it is a mentality with Tillman.......like a lot of these guys.
