Thats Racist ! (Rich old man in LA buys and sells black folks)

Alex

Alex

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Two billion is quite a bit higher than I was expecting, but the Clippers aren't the third rate team they used to be. They are very close to a champion caliber team. Plus they're in LA. Blake Griffin and CP3 alone are such marketable players. How many fucking commercials are those two in?
 
Adebisi

Adebisi

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Weaponsfree_sl said:
Didn't see this posted.

Stephen A. Smith Rants on Mark Cubans Comments on Race - YouTube

I thought this was interesting.
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I just thought of a skit:

Mark Cuban walking down the street. He notices some thuggy thugs walking towards him so he casually turns and heads to the other side of the street. Walking. He notices a group of menacing looking skinheads headed his way. He crosses again. Few steps later it's an Australian biker gang. Heads to the other side. Drag queens with nunchuks. Then Zombie Mormon Missionaries. Arab skateboarders. Japanese LARPers. Black republicans.

I think it's a solid skit.
 
Eomer

Eomer

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Alex_sl said:
Two billion is quite a bit higher than I was expecting, but the Clippers aren't the third rate team they used to be. They are very close to a champion caliber team. Plus they're in LA. Blake Griffin and CP3 alone are such marketable players. How many fucking commercials are those two in?
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Is it possible that there's real estate or something involved as well? Full control of the arena they play in? Seems crazy that the team is selling for over double what people figured it was worth a month ago.
 
Mist

Mist

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Ambiturner_sl said:
I'm sure he overpayed a bit, but a championship caliber team in the second largest market will probably never be on sale again so it's a definitely a unique situation.
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I hope he stands around courtside, flailing his sweaty arms around like he used to do at developer conferences.
 
O

Ortega

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Wow checkthisout. Forbes puts the team value at 575 million in January of this year. Even more insane is that Sterling bought the clippers in 1981 for 12 million! That's a great deal for the Sterling family, but at the same time I don't fault Ballmer. America's obsession with sports the franchise will only continue to increase in value. You are literally buying a money printing press. At a certain point it's all funny money and what are the odds a team goes on sales in one of the largest cities in the country again?
 
Falstaff

Falstaff

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Eomer_sl said:
Is it possible that there's real estate or something involved as well? Full control of the arena they play in? Seems crazy that the team is selling for over double what people figured it was worth a month ago.
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The LA Arena Company and AEG own the Staples Center so it wasn't part of the deal.

I really think it was just... I'm Steve Ballmer, I just left Microsoft with $20 Billion in cash, I can do whatever the fuck I want. Their operating income is only $15 million a year so it isn't exactly a money printing press for someone with that much money.
 
jooka

jooka

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I heard somewhere today that it will take 20 years to make the $2 billion back at the Clippers current rate of profit per year(think I heard $30 million per year).
 
O

Ortega

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jooka_sl said:
I heard somewhere today that it will take 20 years to make the $2 billion back at the Clippers current rate of profit per year(think I heard $30 million per year).
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Twenty years sounds good to me man, although your math is majorly off (20 x 30 million doesn't = 2 billion). Think of all the plebs out there with 15-30 year mortgages on a second house with the intent of renting it out for generations to come?

The projection of 20 years is assuming all else stays the same. Obviously Ballmer intends to improve the franchise, and I think he's much more competent than Sterling is. This isn't factoring in that the franchise will probably be worth 10 billion dollars in twenty years after he's made all of his money back.
 
jooka

jooka

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Ya, I was only going off of memory from what I heard on the radio.
 
Ambiturner

Ambiturner

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Ortega_sl said:
Twenty years sounds good to me man, although your math is majorly off (20 x 30 million doesn't = 2 billion). Think of all the plebs out there with 15-30 year mortgages on a second house with the intent of renting it out for generations to come?

The projection of 20 years is assuming all else stays the same. Obviously Ballmer intends to improve the franchise, and I think he's much more competent than Sterling is. This isn't factoring in that the franchise will probably be worth 10 billion dollars in twenty years after he's made all of his money back.
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It's also at the point where people buying teams are already loaded as fuck and aren't buying them as investments.
 
Big Phoenix

Big Phoenix

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exactly, sports teams for the 1%ers are just things to fuck around with and brag to other 1%ers about. You know, kinda like a normal person may have a truck/car they fix up on the weekend to dick around in at the track? Thats what a basketball team is for the people who own them.
 
BrutulTM

BrutulTM

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Just like the house, it's not like you have to get your money back from profits. He's making 30M a year and he still has the team to sell if he needs a big wad of cash. It might not bring what he paid for it, but it might bring more a few years down the road.
 
Royal

Royal

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Deathwing_sl said:
So how exactly is Sterling 'incapacitated'?
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Reportedly his wife had him examined by multiple doctors and he's suffering from Alzheimer's and has been for some time. That's lends credence to the reports that he had arranged the recordings of his conversations himself because he was having trouble remembering things.
 
jooka

jooka

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While Sterling seems clearly bat shit insane at this point, is he like a .1%'er now?
 
iannis

iannis

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Isn't anyone who holds a majority share in a sports franchise pretty much by default a 1%er?

I'm sure there are people richer. Oprah is disdainful of his poor-person antics. But I mean c'mon. He owns a fuggin sports team.
 
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