Tillman’s cheapness realized/explained, Rockets worth less than what Tillman paid for!

Honestly wish he would be forced to sell the team. He is going to cripple this team for a long time. He makes James Dolan look like a dream owner.

 

I thought he paid $2.2 billion.

https://www.nba.com/news/reports-houston-rockets-sold-tilman-fertitta-22-billion

 

Why is price paid showing 3.3 billion when Tilman purchased the Rockets for 2.2? 2.2 billion is what Forbes shows as the price paid when I click their Houston Rockets link.

this is what they said

“The Rockets underwent a colossal makeover trading away Russell Westbrook in December and James Harden six weeks later. Unloading the team's $82 million backcourt marks the beginning of a rebuild for a franchise with an NBA-best eight straight playoff appearances (the Raptors and Trail Blazers are next with seven). The team potentially has 10 first-round draft picks over the next four seasons to build back its roster. The restaurant, hotel and casino business of Rockets owner Tilman Fertitta was slammed by the coronavirus. He took out a $300 million loan at more than 10% interest in 2020 to help cover losses. Fertitta says he has no plans to sell any part of the Rockets.”

The one that stood out to me was BK. Tsai paid 3.3 billion, and the team is valued at 2.65 billion. I think he owns Barclays Center as well tho.

“The Nets have become must-see TV in 2020-21 with Kyrie Irving, the return of Kevin Durant from injury and trade for James Harden. Ratings on the YES Network are up 69% since the Harden deal. It is a good thing new owner and Alibaba cofounder Joseph Tsai has deep pockets, with a net worth of more than $12 billion. The Nets are headed for significant financial losses for the 2020-21 season with no fans and the second-highest payroll in the league at $167 million, including $114 million for its three stars. One plus: NBA owners agreed to slash luxury tax payments by the same proportion that Basketball Related Income falls. BRI will plummet with most teams playing in empty arenas.”

If the Nets had Tilman as their owner, he probably wouldn’t even sign off on the Harden trade because of finances.

 

$2.2B. Article is wrong.

Don't play with us by dangling Tilman bashing opportunities out there. We already have plenty!

 

Clutchfans waiting for accurate information from OP before insulting Tilman

 

Lol. You know that's right!

FYI @Clutch @Dr of Dunk may want to correct title

 

Ferntits Broke AF.

 

He turned a championship franchise into crap. Of course it’s worth less than what he paid for

 

Leslie Alexander was an absolute genius businessman for selling the team when he did. The team trades for Chris Paul and then he puts the team up for sale essentially 2-3 weeks later. Buy low sell high!

 

All of us old people know that Les Alexander was much cheaper than Tilman.

 

Les paid $85 million for the Rockets in 1993. If I were to say that he made out like a bandit on the deal, it would be a gross understatement.

The OP can edit the title. Maybe he should wake up from his nap and do it? As for Fertitta and the value of the Rockets, the increase in the team's value is marginal, in my opinion. He's pretty much treading water. Long term, the franchise will increase significantly in value, again in my opinion. NBA franchises generally do. Considering the huge amount Fertitta paid for his hobby, he would have to be in for quite the long haul to get the kind of return he likely hopes for when he does sell, and I think he'll sell someday. Sooner rather than later, please.

 

this explains the yacht

 

Me too. I'd love to be able to root for the Rockets again.

 

Funny enough he commissioned the yacht years ago and just took delivery of it. It's possible that he regrets that now.

 

$2.2 billion was the sale price.
https://www.nba.com/news/reports-houston-rockets-sold-tilman-fertitta-22-billion
https://www.nytimes.com/2017/09/05/sports/basketball/houston-rockets-sale-tilman-fertitta.html
https://www.forbes.com/sites/mauryb...rockets-is-a-wise-investment/?sh=190fa8d5176c
https://www.washingtonpost.com/news...-price-for-the-houston-rockets-isnt-so-crazy/

Also, the pathetic James Doolan Knicks are the 3rd most valuable sports franchise in the world. They are higher than any other NBA team.

Finally, the Rockets are worth more than 5 of the top 8 Western conference seeded teams and 6 of the 8 Eastern conference seeded teams.

Your evidence is seriously flawed.

 

YOU SEE THAT TILMAN .3 BILL PROFIT IN JUST 3 YEARS THATS SHRUDE INVESTING IF IVE EVER SEEN IT SALE SALE SALE WHILE ITS HOT

 

I don't agree with that one, he may say that, but it sounds like a typical tilman load of **** contradictions.



"
TM: A lot of people are looking at you and saying, this guy is worth $4 billion, whatever it is now. He’s got mansions and yachts and jets. Why can’t he afford to keep everyone on the payroll?

TF: You know the answer to that. It’s kind of insulting, okay? Do you think I wouldn’t go sell that stuff right now if I could?

TM: I don’t know. That’s why I’m asking.

TF: First off, I have $2 billion in equity in the Rockets that I can’t touch, because you can only borrow so much on a basketball team. Do you think there’s a buyer for jets or yachts right now? Absolutely not. Do you think there’s a buyer for a mansion right now? There’s nobody that’s not being affected.

TM: I hadn’t thought about that. You’re right.

TF: If you go find me a buyer for my yachts and my mansions and my jets, I’ll sell them tomorrow. Two billion dollars of my net worth is in the Rockets, 1.5 to 2 billion is in Landry’s and the Golden Nugget. And then I have a billion in other assets, from stocks to real estate to homes to everything else. But you can’t go spend that right now"

https://www.bloomberg.com/news/arti...perks-up-as-new-buyers-turn-to-private-flying


https://www.thetimes.co.uk/article/...eryacht-sales-blow-away-comparisons-529pbqhw2

https://www.businessinsider.com/bil...ring-the-pandemic-coronavirus-vaccines-2021-1



"
TM: What would you like to see in it?

TF: I don’t know. I really haven’t counted on the government. I’m not one of the largest companies in America and I’m not one of the smallest. When it’s all over with, you can write an article [saying] that I survived and I didn’t get any help from the government."



"here’s a reason that I made it through the ’87 financial crisis, and 2000, and the 2007 (recession), because I’ve always kept so much liquidity.

But he spent freely, and during the economic crash of the eighties, his companies managed to run up more than $10 million in debt. Twenty-five of his creditors sued him. Thanks to an aggressive team of lawyers led by Steve Scheinthal, who’s now the general counsel of Landry’s, Fertitta was able to restructure his debt without having to declare bankruptcy.

further more, tilman was in the red unable to pay loans when some of the banks he owed money to just folded in the crash, he got away wtih it.

This guy will say anything to anyone who still believes him, hes the reality show type, overselling showmanship

"Tilman Fertitta’s companies have furloughed about 70% of employees. He’s the sole owner of the Rockets and will not consider minority partners as a matter of pride."

 

I just watched the Knicks Clippers game today at Staples and there were probably twice as many Knicks fans as Clippers fans. It still blows my mind how a franchise that has been garbage for so long is still so popular just because it's from New York.

 

Its the history, for newer fans they may see our franchise and our generational star, CEO, Gm, Ass Gms, coach, associate head coach all want out of houston, our owner say bs on tv, and us have by far the worst record in the nba and think who would even be on a houston message board. But most of us I think aren't going anyhwere. I'm frustrated and terribly disappointed to say the least in the Fertitta Landry's Rockets tenure, but I ain't leaving houston and by design The rockets is who I follow first and foremost, however painful it is.