RonRon wrote:umm he also invested in 1billion or more in The Barclays center
Add the loss they had last season as tax offenders and this year, it isn't as great as it sounds
Umm.........Glad RainRain not my advisor!
Dude would be a fool to not listen.
Team is estimated to be worth 1.7Bil. He owns 80% which he paid 2.23million for. Even with his losses he makes out HUGE! He lost 144mil last year.
Lost 12mil the year before He is on the hook for 80%, or 132mil.
Lets do some simple for RainRain math:
$1.7x80%=
$1.36billion-
-$223million (what he paid)
-$132million (two years of losses)
_____________________________________
$1,005,000,000 Thats over a billion profit.
THe arena is worth about 1.1 billion to which he owns 45% of. The arena is one of the busiest in the country!
No way he loses money on that deal. The building likely went up in value.
He wins off the court BIG.
On the court is a different story. The Clippers sale threw it all in a different light. With interest rates so low taking on Debt to buy a team is also driving up prices.
The Costs of borrowing is very low.
So, Ummmm, how that not great as it sounds RainRain?
