[Zach Harper]" There have been whispers and rumors within the last year that the Suns [ownership] might not have money. Ishbia might not have cash."

[TM101]

If he really broke then buying an NBA team to flip it is an insane comeu

 

[Thavoiceofthevoiceless]

The brother just agreed to buy another team. How can they not have cash

Doesn't necessarily mean anything if MLB's rules on ownership isn't as stringent as others.

 

[Rigby.]

Not really. He’s basically spent the maximum amount of money he could spend on this team. But if he’s willing to spend this recklessly to produce a mediocre product, that’s probably how he runs his finances in general.

The point was that if he been didn't have the money and was knowledgeable at the time that the amount of money he being quoted at was schadenfreude, it makes sense to just say fukk it and get what you can out of it ASAP

 

[duckbutta]

Doesn't the league do a deep dive into finances before even approving a sale? And don't you have to have a certain amount of money requirements to even begin negotiations to buy a team?

You just have to make it look like you have the money there at the time they check. And even then who knows what it really needs to look like.

At the same time Fertitta bought the Rockets he was getting sued by employees saying he was to broke to pay them

 

[Collateral]

I HAD ENOUGH OF BROKE BOIIIIIIS I CAN’T TALK TO BROKE BOIS

 

[Ribbs]

 

[David_TheMan]

You just have to make it look like you have the money there at the time they check. And even then who knows what it really needs to look like.

At the same time Fertitta bought the Rockets he was getting sued by employees saying he was to broke to pay them

The NFL had problems with owners early on they have a clause where they require a certain percentage of liquidity if I remeember correctly.
Its also why in the NFL only the rich teams pay guaranteed salaries, because they have to but the full amount of player guaranteed salary in escrow.

Some of the owners are trying to get that removed, but I think stories like this will probably have guys like Jerry and etc keeping it in place.

 

[lib123]

Doesn't the league do a deep dive into finances before even approving a sale? And don't you have to have a certain amount of money requirements to even begin negotiations to buy a team?

Yes they do
If he is broke then he might have lost everything in his other bussinesses.

This is what happened to the maloofs in Sacramento if I remember correctly.

Happened to a NFL owner as well i believe the glazer family was severely cashs trapped for a while after their acquisition of man United.

Then we all know the Bengals largely were cash strapped and ran like a ghetto until Marvin Lewis cleaned them up

He’s probably getting crushed by the Suns almost $200 million per year in luxury tax. It doesn’t seem like the NBA takes into account if the potential owners can afford to pay exorbitant luxury taxes. Ishbia had to pledge all his shares in his company worth $4.6 billion to get a loan to buy 57% of the Suns at a $4 billion valuation, so his stake is worth $2.3 billion. His company’s shares have declined by 25% this year and with those types of loans when the shares fall below a certain value a margin call can kick in where he has to pledge more money or collateral. He might not have it after paying the luxury tax.

 

[I AM WARHOL]

Doesn't the league do a deep dive into finances before even approving a sale? And don't you have to have a certain amount of money requirements to even begin negotiations to buy a team?

It seems they didn’t do their due diligence this time around. Major screw up on their part if true. They should even be aware of this being a risk

 

[ALonelyDad]

This guy is not afraid to spend, his brother is also buying a team soon. Unless they are careless this is hard to believe

 

[who_better_than_me]

Doesn't the league do a deep dive into finances before even approving a sale? And don't you have to have a certain amount of money requirements to even begin negotiations to buy a team?

If so, They must’ve made an exception when they allowed the sale of the Houston to Fertitta because he was not caked up like that

 

[David_TheMan]

He’s probably getting crushed by the Suns almost $200 million per year in luxury tax. It doesn’t seem like the NBA takes into account if the potential owners can afford to pay exorbitant luxury taxes. Ishbia had to pledge all his shares in his company worth $4.6 billion to get a loan to buy 57% of the Suns at a $4 billion valuation, so his stake is worth $2.3 billion. His company’s shares have declined by 25% this year and with those types of loans when the shares fall below a certain value a margin call can kick in where he has to pledge more money or collateral. He might not have it after paying the luxury tax.

I doubt it. the suns as an organization is highly profitable and could eat that itself. I don't know why you would even think a corporate expense would be paid for by one of the owners.

It seems they didn’t do their due diligence this time around. Major screw up on their part if true. They should even be aware of this being a risk

I think they did their due diligence, the market changed.

 

[FukkaPaidEmail]

Now that I think about it I bet the “NBA sources” is someone close to Dan Gilbert.

Feels like a hit .

 

[David_TheMan]

Now that I think about it I bet the “NBA sources” is someone close to Dan Gilbert.

Feels like a hit .

What reason would he have to spread that?
I think the most likely source was that in stock circles UWM crashed hard last Monday and Pablo is just parroting that

I haven't t seen any lawsuits regarding vendors or employees not being paid, that's usually the red flag.

 

[FukkaPaidEmail]

What reason would he have to spread that?
I think the most likely source was that in stock circles UWM crashed hard last Monday and Pablo is just parroting that

I haven't t seen any lawsuits regarding vendors or employees not being paid, that's usually the red flag.

They don’t fukk with each other in the slightest

Both Spartans,Both trying to be the person that runs that school,Both trying to get a foothold in Detroit,Both in the same industry.

UWM has been in a slow crash over the past year though..but that just seems too random for a stock guy to be a source but it is possible