[usa today] Les only worth $80 million - tied for "poorest" owners

They should rename this chart to pocket changes of NBA owners.

Never mind, there is a line in small fonts at the very top reads

A listing of the net worth of the NBA's owners...

 

Where have you been for the last 8 years or so, cave?

 

People with big money also incur big debts. Team owners may have a whole lot of debt (possibly not related to basketball).

-- droxford

 

I remember watching on TNT somewhere that Gund bought the team originally for like 60M or something, so he made a cool 250M.

 

Right amount of debt for right causes is a sign of health of wealth.

 

And he had areana name after him, while we are here shouting at each other about Yao's touches. sigh....

 

This was from the same article above----

The second-highest-paid player this season is the Houston Rockets' Dikembe Mutombo, who is getting $18.8 million. Houston is paying him $4.5 million, but he is getting an additional $14.3 million from the New Jersey Nets.

 

Yeah well, Portland is not your typical team that anybody care about... but you are right, I should have known better.

 

$80Mil - Lets take up a collection for the guy. How is any self respecting millionaire going to live on $80mil, Les's motto at the TC should be "How am going to feed my family".

 

Posted here two month ago in an ESPN article about most overpaid NBA players. Deke is the 3rd on the list. We certainly dont think so with 4.5 mil we contribute to him.

 

Yeah, but Paul Allen is pretty high profile. I am just messing with you, no hard feelings.

 

Analysis of Team Owners' Investment Return:

Disclaimer: I realize that PMT should not be 0 but should be in the net income of the team for each year but was too lazy to do it. So if you can do it congratulations, you have way too much time on your hands. Check the math. I may have made a dumb mistake somewhere but the overall picture should be unchanged.

PV FV N PMT IRR
LAL -20 510 26 0 13.27%
NY -300 494 8 0 6.43%
Dallas -280 374 5 0 5.96%
Houston -85 369 12 0 13.01%
Chicago -16 368 20 0 16.97%
Detroit -8 363 31 0 13.10%
Phoenix -401 356 1 0 -11.22%
Phili -125 342 9 0 11.83%
Boston -360 334 3 0 -2.47%
Sacramento -156 330 7 0 11.30%
SAS -75 324 12 0 12.97%
Indy -11 311 22 0 16.40%
Cleveland -20 298 22 0 13.06%
Toronto -125 297 7 0 13.16%
NJ -300 296 1 0 -1.33%
Minnie -89 291 10 0 12.58%
Miami -68 279 10 0 15.16%
DC -1 273 41 0 14.66%
Denver -202 268 5 0 5.82%
Your Most Hated Team (Utah, duh) -24 257 20 0 12.59%
Portland -70 247 17 0 7.70%
Memphis -160 238 5 0 8.27%
Atlanta -208 232 1 0 11.54%
GSW -119 228 10 0 6.72%
NO -33 225 17 0 11.95%
LAC -13 224 24 0 12.59%
Orlando -85 218 14 0 6.96%
Seattle -200 205 4 0 0.62%
Milwaukee -19 199 20 0 12.46%

Overall
Mean 9.38%
Median 11.95%

<=10 years
Mean 6.29%
Median 6.72%

> 10 years
Mean 12.69%
Median 12.99%

Adjusted > 10 years
Mean 13.59%
Median 13.04%

Look at this and what do you see? The average IRR is 9.38% mean, 11.95% median, so you might conclude that Les is a cheap b*stard and that you knew it all along.

However, break it down into analysis of over and under 10 years (in which Les is of the over 10 years group), you get over 10 year mean of 12.69% and 12.99%, showing that Les is "right on average," indicating that his higher than overall rate of return is more market conditions than anything else.

Throw out the statistical outliers Portland and Orlando (both of which are so far below the mean that I think it's safe to conclude Paul Allen and Richard DeVos as bad investors) you get mean of 13.59% and median of 13.04%, in which Les would actually be under.

So I don't want to hear another whimper about Les being cheap. If I do, y'all are gonna see this post again.

 

Considering Portland hemorages around 100 million a year, the 80 million Les is not much.

 

I think Paul Allen bought the blazers 6 or 7 years ago, not 17.
Look at Dallas, I think Cuban is best at selling and buying Yahoo stocks than being an NBA owner or doing a TV show.

 

You may be right, but I was only using this here which said he bought them in 1988. They could be wrong though.

http://www.forbes.com/finance/lists...ssListType=Misc&uniqueId=324837&datatype=Misc

 

so do we need to start the save the Les fund?

 

No, but kayman can stop with his Les is a cheap b*stard gimmick.

 

It has to be 1998, I think. Paul hadnt split with Gates by 88, so he couldnt have bought it then. I remember once he bailed out from Microntheft, he invested in a venture company that busted, bought etoy.com stock that tanked, and bought blazers that collapsed enventually. He's definitely not a savvy investor. But he still has too much money to squander, funding futuristic science projects, egaging in race to build longest yacht. Gates is business man, Paul is a rock star in disgusie.

 

Correct me if I am wrong, but you cannot calculate this type of gain when calculating net worth. Afterall, Les Alexander doesn't actually earn any of that money until he actually sells the team. So the difference in want he paid for it would not be figured in. Clearly, that must be the case unless Les has some gigantic debts somewhere else that offsets the gains from the Rockets. I doubt that.

 

how the hell is doc rivers making as much as van gundy.