Nah Nah Nah…Nah Nah Nah…Hey Hey Hey…GOODBYE CLOWNSHOES

[SoCalSkins]

1 minute ago, method man said:

@SoCalSkins You do realize that publicly available “net worths” of individuals are oftentimes incorrect right, especially for a guy like Harris who has interests in a lot of illiquid private entities?

 

I'm pretty sure he's taken a haircut recently like most people invested in various markets. 

3 minutes ago, BatteredFanSyndrome said:

Forbes does about as good of a job as possible with public information.  But nobody aside from the billionaire himself and his accountants and bankers know how much these people are really worth. 
 

Let SoCal tell it and there’s only one man in America that can truly afford to buy an NFL team.    So basically some broke ass is going to buy us, Bezos will buy the Seahawks and no team will ever be sold again from that point forward.  🤣

 

 

 

There are others in the Walton family who still don't have a team. Let's not look over those deprived souls.

[Est.1974]

14 minutes ago, SoCalSkins said:

 

Doesn't matter. The lead owner needs to pony up 30% hard cash of the purchase price. Those are NFL rules. They can waive them but requires 24 votes. 

Got to wonder if the interpretation of the 30% is correct. You have to have an owner with at least a 30% stake. And you also have to submit 30% cash upfront. Doesn’t say it’s from the same person ? Maybe it does....
 

 

NFL bylaws stipulate that at the time of the transaction, the new general partner (the individual who actively manages and exercises control over the team) must own at least a 30% stake in the team and use no more than $1 billion of debt against the team. 

[Skinsinparadise]

Interesting article. 

 

Uber athlete who competes in Marathons, went to Wharton and Harvard, wildly successful with outside business endeavors. 

 

And from what I've heard from some interviewed about him who knows him -- hires the best personnel people and stays out of their way and tries to do everything first class.

 

Rales I'd gather will be a major investor here, also known for being a brilliant investor who improves distressed companies.   With a background in art.  And supposed with good connections that might help land the stadium.

 

It all sounds very ominious.    

 

A closer look at Broncos ownership candidate Josh Harris

Josh Harris has competed in triathlons and marathons. He ran the 2010 New York City Marathon in a time of 3 hours, 53 minutes, 41 seconds – an impressive pace of 8 minutes, 54 seconds over the 26.2-mile course...Harris was also a high school wrestler

 

By all accounts... extremely competitive, well-educated and have a knack for taking calculated but successful risks.

 

 

...It was through Leon Black that Harris’ professional career took a major leap. Black was the founder of Apollo Global Management, a publicly-traded firm which invests primarily in distressed properties, in 1990. The firm is where Harris officially became a partner of Black’s to the point he was given the distinction of Apollo co-founder, and where Harris attained the bulk of his wealth. Harris’ net worth is listed at $7.6 billion by Bloomberg – up from $1.2 billion in 2011 when he bought the 76ers.

 

Here’s an example of Harris’ shrewd business acumen:  

Since 2008, Apollo had reportedly invested $2 billion into LyondellBasell, a chemical maker. Last November, Apollo sold billions of dollars of shares in LyondellBasell and came away with about $12 billion, an astonishing return. Harris, who is still involved in Apollo’s day-to-day decisions, reportedly earned $397 million from Apollo last year.

 

...It would appear Harris, 57, would like nothing better to join Stan Kroenke, who is the only owner of an NBA (Nuggets), NHL (Avalanche), NBA-NHL sports arena (Ball Arena), Premier League (Arsenal) and NFL (Rams) franchises. Kroenke's wife, Ann Walton, is the niece of Rob Walton.

 

Harris (1986)...are graduates of Penn, specifically its Wharton School. Harris later received his MBA from the Harvard Business School and soon thereafter hooked up with Black to help form Apollo. 

 

...Harris grew up in Chevy Chase, MD. He and his wife Marjorie and their five children reportedly moved from New York City to Miami during the pandemic in 2020.

 

In 2019, Josh and Marjorie gave a $10 million gift to the Penn’s Wharton School to establish an alternative investments program...Harris Philanthropies, also started by Josh and Marjorie, is a charitable foundation that helps underserved youth in high-need communities through sports and education.

 

https://www.mirror.co.uk/sport/football/news/who-crystal-palaces-new-billionaire-4528850

 

Jake Pavorsky, a journalist who covers the Philadelphia side, told MirrorFootball:

"I can say Harris is an extremely bright, forward thinking guy, who is going to find the smartest people in football to run the club.

"When he took over in Philadelphia, he hired Sam Hinkie to be 76ers general manager, a really bright guy with a strong background in analytics. I wouldn't be surprised if he brought in guys who could incorporate analytics into football. He's also going to put a ton of money to improve the club, and probably not just when it comes to making transfer moves.

 

"The Sixers have already laid the groundwork on a brand new $82 million practice facility on the waterfront in Camden, New Jersey.

"His goal is to make the team as marketable and nice to players as humanly possible to lure some of the best talent in the NBA to Philadelphia."

A man who is dedicated to improving the facilities and marketing the club well, 

 

Edited March 19, 2023 by Skinsinparadise

[NoCalMike]

The idea that just about any billionaire is going to be totally "clean" is a bit of wishful thinking, but there is "questionable business practices" and then there is Dan Snyder, and there's a lot of room in between. 

[Skinsinparadise]

7 minutes ago, BatteredFanSyndrome said:

Forbes does about as good of a job as possible with public information.  But nobody aside from the billionaire himself and his accountants and bankers know how much these people are really worth. 
 

Let SoCal tell it and there’s only one man in America that can truly afford to buy an NFL team.    So basically some broke ass is going to buy us, Bezos will buy the Seahawks and no team will ever be sold again from that point forward.  🤣

 

 

 

Yeah a bunch of the business reporters referenced that point.  Forbes is making an educated guess but they don't know.  

[Est.1974]

I’m sure Bezos is an arse too.

 

Can we just dispose of Dan.

[SoCalSkins]

Just now, Est.1974 said:

I’m sure Bezos is an arse too.

 

Can we just dispose of Dan.

 

They all are. But I prefer the dude who built the world's most expensive private yacht ever building our new stadium. 

[CapsSkins]

I used to run the family office of an A-list celebrity mogul-type who once got pissed about his ranking in the Forbes list and had me drop everything and reach out to the Forbes net worth people to argue about why he should be listed higher. Lol

 

The net worth things are all political. The main editor happened to ghost-write a book for one of the billionaires who got featured in the mag. All this **** is PR / marketing. 

[Skinsinparadise]

Harris as we know isn't doing this alone, if lets say Rales is buying 40%, I gather Harris has to come up with a billion give or take.

 

Keim has referenced this point a bunch of times, which is BOA has approved any buyer that is touring the facility so the implication is the money is available or will be at the time of the sale, Harris for example had to liquidate his Steelers minority ownership

[Est.1974]

3 minutes ago, SoCalSkins said:

 

They all are. But I prefer the dude who built the world's most expensive private yacht ever building our new stadium. 

Don’t disagree with what I’d prefer as well. The alternative isn’t the end of the world though.

[Andre The Giant]

 

[Panninho]

1 hour ago, Andre The Giant said:

JP Finlay was just on 106.7.  Said he still thinks it’s Harris and will be done by late-March / early-April. 
 

Thinks Bezos will be buying Seattle. 

I get the Seattle angle with him but Bezos is 59, Seahawks sale might not happen for another 10-20 years as we have learned.

If the obstacles with Snyder are insurmountable, sure, but if he really wants to have his own franchise I would think he'd want to have it soon.

But this discussion will luckily be over pretty soon anyways

[Koolblue13]

Harris is a first class owner and the absolute best possible person to turn this franchise around.

 

He will do everything the right way and stay out of the way of the football people. 

 

We will instantly become one of the best franchises in the league. He's done it in basketball and hockey. This will be no different. 

[COWBOY-KILLA-]

Let’s just stop Sullying what shouldn’t be sullied in the slightest just yet. Be open to what change the universe brings us. We are fortunate it will no longer be Snyder. Feeling grateful.

[Riggo#44]

24 minutes ago, Spaceman Spiff said:

Sure, even the Nats. Been downhill for them since the World Series. They need all the good stuff they can get. 

I mean same goes for the Orioles...

 

 

[bearrock]

32 minutes ago, SoCalSkins said:

He has to write a check for 2 billion. None of it debt. He doesn’t have the resources. It’s a house of cards. Just like Dan.

 

I believe you're conflating several different requirements.  The principal owner has to own at least 30% of the equity (certain family, trusts, and grandfathered in exceptions apply).  Debt limit for debt secured by team assets is 500 million, raisable up to 1.1 billion subject to restrictions.  All ownership bids are reviewed by financial committee to ensure that principal owner is not over leveraged and is investing sufficient equity.  The last requirement is pursuant to League resolution 2001 Resolution FC-4 and as far as I know has not undergone any changes from the original language since it was adopted in 2001.  That provision leaves what constitutes sufficient equity investment and over leveraging at the discretion of the financial committee.  There is no specified number or threshold.

 

This means several things for Harris:

 

- He has to own at least 30% of the team.

 

- the proposed purchase agreement cannot use the team or it's assets to collateralize more than 1.1 billion of the purchase price.

 

- Harris can personally borrow money against his own assets to come up with the purchase price for his share of the ownership stake.  This will be reviewed by the Finance Committee under provision 4 of League resolution 2001 Resolution FC-4 (the same language having been adopted in each subsequent Financial Committee resolution raising the debt limit): 

 

Quote

In connection with any acquisition of a member club or any controlling
interest therein, the principal and/or controlling owner shall be required to
invest equity (cash on hand or funds borrowed against other current or
determinable future assets of such owner) in a minimum amount to be
determined by the Finance Committee, and no acquisition transaction that
the Finance Committee finds to be excessively leveraged shall be
recommended by the Finance Committee for membership approval;

 

This means that Harris can leverage his assets to come up with parts of the 2 billion.

[Est.1974]

1 minute ago, bearrock said:

I believe you're conflating several different requirements. 

Agreed, thanks for posting the addition details.

[HIYA_Beach_Warpath]

I have missed the last 24 hours here. So i will try and summarize and correct me if I'm wrong. 

 

Gandhi, Putin, and Jeff Bezos walk into a Ledo's and yell, “Dan Snyder is a  @$$-hole.”
The little man at the end of the bar says” I object to that remark”.
The guys respond: “Why, are you  Dan Snyder ?”
“No, I’m an @$$-hole”, says the man.

Edited March 19, 2023 by HIYA_Beach_Warpath

[Skinsinparadise]

I was listening to Lavar Arrington on a podcast yesterday about Dan.

 

And before anyone jumps down my throat about it, I am not a fan of Lavar, the dude is a whining underachiever IMO.  But still it was interesting to listen to him because he was one of the players who had a personal relationship with Dan and knew him beyond the building.

 

In short, he said Dan was-is genuinely a die hard fan. But his personality was his downfall.

 

He met his parents multiple times including his dad who was also a die hard and his sister.  According to him they were super nice people except ultimately for Dan who was different than the rest of his clan.  I found that interesting because I shared my story about Dan that i got from someone years ago -- i was wearing a Redskins shirt at Disney and someone standing in line next to me shared the story of his friend was a limo driver who drove Dan and his mom to some event, and Dan was condesending to the driver and Dan's mom approached the driver after they dropped them off and apologized for Dan's behavior. 

 

I got no idea if its true but it would be weird for that dude to make it up.  And it fits other stories.  Lavar didn't say this part but I got the impression the way he told the story that Dan's personality got worse over the time he was there. 

 

Lavar went he was so arrogant and treated employees so poorly that it festered in that building and it became part of the culture.  And he felt that's what did him in. And knowing Dan, he believes him having to sell this team now is likely devastating.

 

Bringing that point here to the next owner.   The new owners personality matters to me.  I've seen Bezos' personality defended here in the past by some saying, all these billionaires are like that. IMO that's ridiculous.  How you treat people and your general demeanor isn't bad just bcause you are mega wealthy.  Plenty of really wealthy people like a Buffet or Richard Branson are known to be nice guys.

 

It actually reminds me some of the Dan defenders who back in the day would say, yeah some of these same behaviors are exhibited by other owners, too.  It's not a Dan exclusive thing.  They are rich owners, they all have skeletons, its just Dan is picked on because the media hates him.    I get the point, you got to be ruthless often to make a lot of money.  And most powerful owners have made powerful enemies.  And in the process of becoming successful, they've likely had to trample on some.  But their personalities aren't all the same.  Dan's specific behavior isn't captured the same way by every owner in the NFL. 

 

No not every billionaire is a douche.  Or a minimum they aren't all Dan like clones.   

 

And again I am in the camp of I'd love either Harris-Rales or Bezos.  But there is a reason why I prefer Harris-Rales.  That is, Harris has run a sports franchise and does it in a way that I like.  And I don't get the same personality red flags about Harris-Rales the way I do about Bezos. 

 

But Bezos would be cool because yeah the one thing I do agree with the Bezos or bust crowd, I do think he'd be the best to get the stadium.  The only wildcard he might have is he is politically polarizing so not sure if that impinges on DC getting the land.  But got no doubt he'd build something cool.  I do though have some faith in Harris-Rales on this count, too.  Supposedly they have strong political connections -- which is typically half the battle to get this done.

Edited March 19, 2023 by Skinsinparadise

[Long n Left]

1 hour ago, CapsSkins said:

All right guys, I'm getting to the bottom of this. I looked up Josh Harris in the Wharton alumni directory - gonna shoot him an email and see what's up. 😂

 

(Yes, it does actually list his email. No, I'm not actually going to do it)

 

 

Chicken!

[CapsSkins]

1 minute ago, Long n Left said:

Chicken!

 

What does Sam Howell's diet have to do with anything?

[NoCalMike]

17 minutes ago, Skinsinparadise said:

I was listening to Lavar Arrington on a podcast yesterday about Dan.

 

And before anyone jumps down my throat about it, I am not a fan of Lavar, the dude is a whining underachiever IMO.  But still it was interesting to listen to him because he was one of the players who had a personal relationship with Dan and knew him beyond the building.

 

In short, he said Dan was-is genuinely a die hard fan. But his personality was his downfall.

 

He met his parents multiple times including his dad who was also a die hard and his sister.  According to him they were super nice people except ultimately for Dan who was different than the rest of his clan.  I found that interesting because I shared my story about Dan that i got from someone years ago -- i was wearing a Redskins shirt at Disney and someone standing in line next to me shared the story of his friend was a limo driver who drove Dan and his mom to some event, and Dan was condesending to the driver and Dan's mom approached the driver after they dropped them off and apologized for Dan's behavior. 

 

I got no idea if its true but it would be weird for that dude to make it up.  And it fits other stories.  Lavar didn't say this part but I got the impression the way he told the story that Dan's personality got worse over the time he was there. 

 

Lavar went he was so arrogant and treated employees so poorly that it festered in that building and it became part of the culture.  And he felt that's what did him in. And knowing Dan, he believes him having to sell this team now is likely devastating.

 

Bringing that point here to the next owner.   The new owners personality matters to me.  I've seen Bezos' personality defended here in the past by some saying, all these billionaires are like that. IMO that's ridiculous.  How you treat people and your general demeanor isn't bad just bcause you are mega wealthy.  Plenty of really wealthy people like a Buffet or Richard Branson are known to be nice guys.

 

It actually reminds me some of the Dan defenders who back in the day would say, yeah some of these same behaviors are exhibited by other owners, too.  It's not a Dan exclusive thing.  They are rich owners, they all have skeletons, its just Dan is picked on because the media hates him.    I get the point, you got to be ruthless often to make a lot of money.  And most powerful owners have made powerful enemies.  And in the process of becoming successful, they've likely had to trample on some.  But their personalities aren't all the same.  Dan's specific behavior isn't captured the same way by every owner in the NFL. 

 

No not every billionaire is a douche.  Or a minimum they aren't all Dan like clones.   

 

And again I am in the camp of I'd love either Harris-Rales or Bezos.  But there is a reason why I prefer Harris-Rales.  That is, Harris has run a sports franchise and does it in a way that I like.  And I don't get the same personality red flags about Harris-Rales the way I do about Bezos. 

 

But Bezos would be cool because yeah the one thing I do agree with the Bezos or bust crowd, I do think he'd be the best to get the stadium.  The only wildcard he might have is he is politically polarizing so not sure if that impinges on DC getting the land.  But got no doubt he'd build something cool.  I do though have some faith in Harris-Rales on this count, too.  Supposedly they have strong political connections -- which is typically half the battle to get this done.

 

I mean to be honest I am not surprised that any player who was a Snyder-centric draft pick and had the "Dan Snyder privileges" while on the team is going to have more positive things to say about the guy than everyone else, but that is why a good personal relationship with someone isn't a good representation of the totality of the person necessarily. 

 

As far as new ownership goes, it is like any billionaire is going to come with some baggage because it's rare that anyone gets to billionaire status without having rubbed some people the wrong way (or worse) so that aside, I mainly want the new owner to be successful with current endeavors unrelated to the team so they won't be relying on the team itself to grow their person revenue.  Any profit they make off the team should be seen as a bonus to the revenue they are already generating with their other businesses.  This was a big turning point back in the day out here with the Maloofs when they owned the team. The Kings went from their toy, to their primary revenue source when they stupidly sold their beer distribution business and within a handful of years they were pushed out of ownership for those and related reasons.

[ntotoro]

1 hour ago, spjunkies said:

Isn't Harris building a new billion dollar arena in Philly? I'm sure he'll be happy about spending more for new Commanders facilities. 

 

 

Two-fer? 🤣

[HIYA_Beach_Warpath]

6 minutes ago, CapsSkins said:

 

What does Sam Howell's diet have to do with anything?

 

Edited March 19, 2023 by HIYA_Beach_Warpath

[Skinsinparadise]

6 minutes ago, NoCalMike said:

 

I mean to be honest I am not surprised that any player who was a Snyder-centric draft pick and had the "Dan Snyder privileges" while on the team is going to have more positive things to say about the guy than everyone else, but that is why a good personal relationship with someone isn't a good representation of the totality of the person necessarily. 

 

 

I didn’t find his point to be positive at all. It was essentially Dan had his own Shakespearean downfall because he was arrogant and a douche.

 

I got no issue with him complementing the personalities of other people in his family and basically depicting Dan as the rotten apple. To me that makes Dan look even worse and that’s how Lavar came off making the point 

Edited March 19, 2023 by Skinsinparadise