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[NY post] Tilman not good at business

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by larsv8, Jan 4, 2021.

  1. larsv8

    larsv8 Contributing Member

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    Informative article

    https://nypost.com/2021/01/03/tilman-fertitta-struggling-with-golden-nugget-ipo-plans/amp/

    This dude is so ****ing broke.
     
  2. Jontro

    Jontro Member

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    i wanna be bad at business and still be able to buy an nba team
     
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  3. Swapshop

    Swapshop Member

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    James Harden gives Lil Baby a Honey Bun and Tilman swoops in like an eagle to snatch it.
     
  4. rimrocker

    rimrocker Contributing Member

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    And then you can sell it for less in a couple of years.
     
  5. daywalker02

    daywalker02 Easter Egg Hunter - Tell me why? نحن عائلة
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    Believe me, I am being serious.

    You want to own a pornhub bizness.
     
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  6. fattz

    fattz Member

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    It’s not like the Rockets will close; the league will step in when he can’t make payments and payroll anymore. The league took over in New Orleans and the Clippers, too. The players played got paid and all was well. Most of the time the franchise are a wreck and losing. We are just a wreck —> No other player in history can do what Harden does. He is keeping the Rockets relevant while the franchise is failing around him. I hope long term he get a percentage of the ownership of the franchise. I understand he wants out but please stay and make us the first championship league owed team. (just had a thought... it will never happen —> not a good look for the league, if we win while owned by the league. Maybe why the officiating always seems... also not a good look for the league if this owner wins, either). I’ll stop...
     
  7. Reeko

    Reeko Member
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    Fertitta’s woes come during a rocky period for him as owner of the Rockets. Tilman has reportedly weighed reducing the NBA team’s payroll as the pandemic continues to crush ticket sales — putting it on track to lose an estimated $100 million to $120 million if fans do not return this season, according to a sports banking source.

    Should we really expect Harden to attach his future to an owner who is drowning in debt? Would anyone be surprised if PJ or EG was traded this year, and not really for an upgrade, but to reduce costs?
     
  8. clutchdabear

    clutchdabear Member

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    since when did the nba or adam silver ever care about how they are perceived in terms of fairness and being a true competitive league? everyone and their mother knew that the lakers were gonna get gifted the championship last season, especially after kobe's death.

    if the league cared about how they look, then they wouldn't assign scott foster to officiate game 7 of the 2018 wcf, knowing full well that the league's darling child was about to get eliminated by the rockets. why is it that every single time a heavy favorite is losing momentum, scott foster is assigned that very next game in that series?

    if the league cared about how they look, they wouldn't have given the pelicans the no.1 pick in 2012 (anthony davis draft) while the league owned the pelicans... even though 3 other teams finished with a worse record than the pels that season. obviously the pels fetched a higher price on the market bc they were able to get AD.

    if tilman defaults and nba seizes ownership of the rockets... then if anything, the nba would probably want the rockets winning a championship to command a far higher value on the market and make the league a ton of money when it eventually sells to a new ownership. making money is all the nba cares about. it's why the nba doesn't give a **** that china is operating slave labor camps in nba-sponsored facilities in xinjiang bc they need that china money. the nba has never been about honest or fair competition, let's get that straight.
     
  9. fattz

    fattz Member

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    Let Tilman fold up shop and let’s win a championship!
     
  10. napalm06

    napalm06 Minister Of The McLemore
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    I was only about 14 at the time, but the infamous Lakers Kings series taught me early what the NBA was really about.
     
  11. napalm06

    napalm06 Minister Of The McLemore
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    The problem, sources explained, is that there appears to be little value in Golden Nugget beyond the debt, which stands at about $4 billion — much of it taken in 2017 to finance a $1.4 billion dividend to Fertitta so he could buy the Rockets for $2.2 billion.

    Ouch. But us Rocket fans know these numbers by now. For me its shocking that he has been able to hold on THIS long through the pandemic. When you leverage yourself this hard in one of the notoriously lowest margin businesses out there, you're always living on a knifes edge with investors. I doubt Tilman has an exit plan, the years since he has bought the Rockets have mostly been him eating the ship he is on to survive. At some point he is just gonna be free floating in the sea. Shut up and listen.
     
  12. TimDuncanDonaut

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    Tilman selling stakes at his failing businesses, few biters.

    If he puts the Rockets on the market, there will be suitors. My only request is don't move to another city.
     
  13. napalm06

    napalm06 Minister Of The McLemore
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    The risks and costs of anyone moving a franchise during the Covid economic climate makes it pretty much impossible.

    There is also no market currently without a team that can get anywhere near Houston on size. Aint happening in a million years. More likely that another buyer or consortium of buyers pulls the team from Tillman for a similar valuation that he bought at ($2B). But his massive amount of pride in his mediocre business practices ensures he will drag this out as long as possible. He doesn't want to be the guy who had to sell his hometown team.
     
  14. CHI

    CHI Contributing Member

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    I suspect Harden is being held hostage at the moment, in order to prop the value of the team up. Without him on the team, or with a bad trade - the value of the team plummets.
     
  15. BamBam

    BamBam Contributing Member

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    4 Billion in debt is no ha-ha me!!!

    With that type of debt and in the business that he’s in, I can’t see him lasting another year of COVID without selling something or declaring some form of bankruptcy...o_O

    .......
    .......
    .......
     
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  16. Amel

    Amel Contributing Member

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    I already wrote when he bought the Rockets that his business accomplishments are at the very least questionable...hes like a fake billionaire, a ponzi scheme waiting to happen...I hope he doesnt destroy the Rockets on his way wherever that is
     
  17. ElPigto

    ElPigto Member
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    Ugh, it sucks that our owner is not very wealthy. We all want him to sell, but is it going to happen?
     
  18. AroundTheWorld

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  19. RasaqBoi

    RasaqBoi Member

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    Rich Broke.
     
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  20. Nick

    Nick Contributing Member

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    I can't imagine the NBA or their fellow owners don't take notice and act soon enough if his entire net worth is merely propped up by the value of the Rockets.

    Honestly, should never have been approved as a prospective owner... but I understand that it was unforeseen what a pandemic would do to the sports/entertainment industry which is where all of his assets are tied up.

    That being said he was far from a fiscally sound owner when he bought the team...now that he's in even worse debt with no end in sight... it is not going to be sustainable.
     
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