I wonder if they got something wrong too... hmmm http://www.sbnation.com/nba/2011/7/6...-profitability
I hope this closes the book on owners selling teams for a profit. They took a $50M hit according to the INDEPENDENT Forbes
Re: 76ers deal at $280M, Forbes value them at $330M
I thought the guy/group bought 90% of the team (and left the 10% to the old ownership). Which based on that value would $297 million, so I wouldn't be surprised if the lockout lowered the team's value and the economy made the owner lower his price.
Re: 76ers deal at $280M, Forbes value them at $330M
It also says the deal doesn't include the Stadium ($73M), which Forbes included in their value estimate of the team. Had the Stadium been included, the price would probably have been right around $330M.
Also, it states the team was purchased for $125M in 1996, and valued at $330M in 2011. That's a $205M profit over 15 years, or ~13.5M a year. Obviously that number needs to be adjusted for inflation, but it shows that owning the 76ers over the past 15 years was a profitable investment.
Re: 76ers deal at $280M, Forbes value them at $330M
The reason why the guy didn't purchase the stadium leaves a lot of dust unsettled. I mean he's going to have to pay to rent that place now... he might have intentions of moving, who knows at this point.
Re: 76ers deal at $280M, Forbes value them at $330M
Quote:
Originally Posted by purplch0de
The reason why the guy didn't purchase the stadium leaves a lot of dust unsettled. I mean he's going to have to pay to rent that place now... he might have intentions of moving, who knows at this point.
I thought about that too, but I read as of right now there are zero plans to move the team. Moving a historic team like the 76ers could end up being worse than the whole Sonics thing.
Re: 76ers deal at $280M, Forbes value them at $330M
So basically this new guy paid $20 million more than they were actually worth minus the stadium, and that was only for 90% of the team. Wow Forbes really undervalued them alot.
Re: 76ers deal at $280M, Forbes value them at $330M
Quote:
Originally Posted by MeLO MvP 15
I thought about that too, but I read as of right now there are zero plans to move the team. Moving a historic team like the 76ers could end up being worse than the whole Sonics thing.
philly fans would make a big deal out of it.. it can't happen.
Re: 76ers deal at $280M, Forbes value them at $330M
Quote:
Originally Posted by MeLO MvP 15
I thought about that too, but I read as of right now there are zero plans to move the team. Moving a historic team like the 76ers could end up being worse than the whole Sonics thing.
Worse for Sixers fans maybe. Sonics were only in seattle 4 years later than the sixers were in philly.
It's all a matter of perspective. East coast people don't care about Seattle. West coast people don't care about Philadelphia.
Re: 76ers deal at $280M, Forbes value them at $330M
Quote:
Originally Posted by purplch0de
The reason why the guy didn't purchase the stadium leaves a lot of dust unsettled. I mean he's going to have to pay to rent that place now... he might have intentions of moving, who knows at this point.
He didn't purchase it because the same guy that used to own the Sixers still owns the Flyers, who play in that building. Ed Snider wasn't going to sell the arena with the Sixers and then have to find a new home for his Flyers.
Part of the sale was that the Sixers have to stay in the same arena for the foreseeable future.
Re: 76ers deal at $280M, Forbes value them at $330M
Quote:
Originally Posted by bdreason
It also says the deal doesn't include the Stadium ($73M), which Forbes included in their value estimate of the team. Had the Stadium been included, the price would probably have been right around $330M.
Also, it states the team was purchased for $125M in 1996, and valued at $330M in 2011. That's a $205M profit over 15 years, or ~13.5M a year. Obviously that number needs to be adjusted for inflation, but it shows that owning the 76ers over the past 15 years was a profitable investment.
The fact that the team was purchased for 125m and sold for almost double. I don't see the problem.
Re: 76ers deal at $280M, Forbes value them at $330M
Quote:
Originally Posted by purplch0de
The reason why the guy didn't purchase the stadium leaves a lot of dust unsettled. I mean he's going to have to pay to rent that place now... he might have intentions of moving, who knows at this point.
Re: 76ers deal at $280M, Forbes value them at $330M
Yeah the Sixers shouldn't go anywhere. They're in a reasonably sized market and they've managed to stay off the red and actually made some money. It's just these past few years when the team lost its identity when they traded away AI and went with Brand.
What would have happened if they just blew up the team when AI left? Instead they tried to compete (which is the right thing IMO) and after a few years they still don't know where they are going.
I wonder if they got something wrong too... hmmm http://www.sbnation.com/nba/2011/7/6...-profitability
I hope this closes the book on owners selling teams for a profit. They took a $50M hit according to the INDEPENDENT Forbes
76ers deal at $280M, Forbes value them at $330M
