Forbes: Hawks now valued at 825 million (22nd in NBA) expected to sell for 1B

[Admin]

On mobile so only posting Hawks part.

http://www.forbes.com/sites/kurtbadenhausen/2015/01/21/average-nba-team-worth-record-1-1-billion-2/

The Atlanta Hawks and Brooklyn Nets are both on the market and will command hefty increases from what their current owners paid. A group led by Bruce Levenson and Michael Gearon bought the Hawks for $189 million in 2004 (Levenson was also caught making racially charged comments last year, which fueled the team going up for bid). The Hawks lost money five straight years before turning a profit last season thanks to a nearly $20 million revenue sharing check. We value the Hawks at an enterprise value of $825 million, 22nd overall in the NBA. Don’t be surprised if you see a reported sale price closer to $1 billion if you include $124 million of bonds tied to the municipally owned arena. A true enterprise value excludes that debt.

[WraithSentinel]

This got me thinking whenever the sale is completed. You should dig up Bruce old account here. Whether it was him actually posting here or someone from his PR Staff posting as him. We should celebrate by banning that account.

[macdaddy]

Damn.  I'm going to mismanage a business, sue my partners, betray my customers, and send a racist email to see if it can net me a few million.

[capstone21]

Man that tv deal has changed everything

[MCVicious]

Interesting video by Forbes on the shopping of the Nets. What I found most interesting was how Balmer didn't even look at the financials of the Clippers before he bought them (what a baller). I hope the potential sale of the Nets at the same time doesn't stymie our chances of getting a decent ownership especially with Brooklyn being a prime market. Or if Mikhail wants an instant winner with no added work he can look our way. 

 

Edited January 21, 2015 by MCVicious

[Guest]

Well T.I. not interested in buying the Hawks:

 

“The thing about owning a NBA franchise is you’ll never get bigger than the NBA,” he calmly stated. “So whatever it is that do, it will be controlled by a bunch of other people who probably have more money than you and have been involved with the organization for longer than you, so you won’t be able to do a lot of things that you want to do. So I’m not interested.”

[Admin]

Well T.I. not interested in buying the Hawks:

“The thing about owning a NBA franchise is you’ll never get bigger than the NBA,” he calmly stated. “So whatever it is that do, it will be controlled by a bunch of other people who probably have more money than you and have been involved with the organization for longer than you, so you won’t be able to do a lot of things that you want to do. So I’m not interested.”

Darn! How many million (singular) is he worth anyway?

[nitte]

When should we start to get nervous due to the fact that we haven't heard any rumors regarding the sale recently.

[Guest]

Well we know they're not going to Seattle:

Mayor Ed Murray says a recent visit with NBA commissioner Adam Silver has him doubting that Seattle can land a team within the next few years. And that has Murray worried no team will arrive before the November 2017 expiration of a Sodo arena funding agreement between the city, King County and entrepreneur Chris Hansen. A memorandum of understanding (MOU) between them states an NBA team must be acquired for Hansen to receive up to $200 million in city and county bond funding for the proposed venue. Seattle Times - See more at: http://hoopshype.com/rumors.htm#sthash.uFbsSR2y.dpuf