Trojan 24
Veteran
There are billionaire's hoping to get in, Diddy has no chance
Puffy trying to become majority owner of a NFL team
- Thread starter 5StarElite
- Start date
Jordan was worth over 300 million and he bought the Cats for something like 175M.
Trojan 24
Veteran
Honestly the only "new" money that has a chance would have to be one of these .com billionaires
This nikka said that 10 years ago..Stern hit him with the "you're not in the desired economic bracket"
Knicks don't return P. Diddy's calls
Updated: February 13, 2004, 6:49 PM ET
By Darren Rovell | ESPN.com
LOS ANGELES -- P. Diddy insists he will one day run some NBA city. But don't expect it to be New York.
Hip-hop artist and businessman Sean "P. Diddy" Combs is a frequent courtside presence at New York Knicks games but told ESPN.com on Friday the team hasn't returned his inquiring calls about ownership. That's because no stake in the team is for sale, according to Steve Mills, president of Madison Square Garden Sports.
"Other teams should take me seriously," said Combs, whose net worth was estimated at about $100 million, according to the July 2003 issue of Forbes magazine. "I never give up on my dreams, and I will do this."
Last summer Combs expressed interest in buying the Knicks. Now he said he hopes fellow artist Jay-Z's small stake in the new New Jersey Nets ownership group will help make his goal of owning a team "a little bit more of a reality."
Combs said that the chances he will own at least a piece of an NBA franchise within the next 10 years are 100 percent.
"I'm actively looking," said Combs, after speaking on a panel at the NBA's All-Star Technology Summit in Los Angeles. "My biggest dream is to own an NBA team."
When told of Combs' prediction, NBA commissioner David Stern said, "I hope he's saving his money because the price of buying a team is going to continue to rise."
Combs is founder and CEO of Bad Boy Worldwide Entertainment, which includes arms for recording, music publishing, artist management and television and film production. The company's recording business has claimed averages of over $100 million in annual sales since the company was founded in 1994.
Combs also has his own label, Sean John Clothing, which is geared to urban men. In November, he raised $2 million for children's charities by running the New York Marathon.
He went from $100mil worth then the $580 mil now NUMB NUTS.
Give him another 5 years he might be at a billi.
Damn yall some underacheiving hating ass negros
He might get a team in 10 years when he's worth 1, 1.5 or 2bil
Yall some dumb ass nikkas on this board. It's pretty pathetic.
You don't just up and buy a team, it's a strategic, long endeavour.
Mr. Somebody
Friend Of A Friend
It's happened before (John Spano and Frank McCourt in MLB and NHL). He ain't just spewing bullshyt, but it won't happen in the NFL. They go
on folks finances and background. Diddy won't make it past the NFL background check.
It's happened before (John Spano and Frank McCourt in MLB and NHL). He ain't just spewing bullshyt, but it won't happen in the NFL. They go
You don't think if diddy is SAYING this that he hasn't already inquired about what it takes with his team"?
Trust me, diddy's financial / business team knows more than this entire board combined, your dumb ass and my smart ass included.
Diddy is 20 years removed from any bullshyt..... oh, somebody shot up a club while he was there to protect him? How is that on him?
If Jay-Z can campaign for Obama to get elected and Obama not catch flack, Diddy can own an NFL team
There is no CBA in the Music industry.... There is in Football...
Next idiot up? Lets get it.... Its fun hittin yall across the head, this like whack-a-mole(idiot)
This is true. Diddy's team will structure it to where he's a 50.1% owner but he'll be backed by various investment groups. Diddy's total investment probably wouldn't be as much as you think.
One of the first tenets of private equity is to use as much institutional debt and other peoples' money as possible to make your total outlay smaller. As time goes on, you pay them down, and get the returns on exit.