Anonymous
Years ago
If Sydney Kings can give BOGUT 10% of a 10million dollar team value {1million dollars} why doesn't everyone else E.G Adelaide 36ers that the team value maybe 5 to 10million 5% to Childress and 5%to Motum.
Why does everyone who can post on a public forum think they have the smarts to be a CEO?
AD
Years ago
Because "equity" in an NBL team (except maybe the Cats) is worth Jack Shit.
When LK says he wants $10M for BB, he's not saying its worth $10M as an actual investment.
He's saying that if yu wnat to our an NBL team, you need to be so rich that $10M is pocket-change, and that he thinks $10M is a fair price to own your own team.
Most teams lose money on an operating basis, and require either the community backers, generous sponsors, or owners, to put in money every year.
What does 10% for Bogut mean? Maybe it means he gets a seat on the board of directors (if they have one)??
It won't give him any actual control, it certainly won't pay dividends, and I'd imagine that even if he found a sucker to buy it, he probably can't sell.
The kings supposedly lost 9 million in the last two years, if they keep going like this does Bogut owe them money.
NBL Fan
Years ago
Wow if that 9 million figure is true that's dire.
Exactly. It's worthless.
And if NBL clubs actually had equity and were worth something why would you be giving pieces away here there and everywhere to each signing. Eventually all your shares would be owned by ex-players. lol
LoveBroker
Years ago
Is it at all possible that if you keep giving away 10% you might be out of a job after the 6th player?
"why doesn't everyone else E.G Adelaide 36ers that the team value maybe 5 to 10million 5% to Childress and 5%to Motum."
hahahahhahaha. You're not too bright, are you?
Equity implies an asset of value that makes value ie. money. Bogut doesn't need $ so part ownership makes sense if he believes he can make said entity make money.
Childress maybe would be interested but he is no Bogut. Motum??? Really ?
AD
Years ago
"part ownership makes sense if he believes he can make said entity make money."
If Bogut, or anyone else, thinks the Kings are going to turn a profit, then they have been hit in the head more times than Matty Knight.
AD
Years ago
But this thread leads me to another train of thought.
Maybe, instead of actual equity, what they (could have) offered is a slice of revenue, or even a slice of any revenue increase.
Please educate yourself on players and information before suggestion number and or figures you have no understanding about. 9mill loss? Mate stop making up numbers.
Equity to Childress at 36? Equity to Motum? Nope and he'll nope
Bogut in seriously dumb if he thinks buying into the Kings franchise will make him money. Ogden wanted out.
Equity......may as well offer the players Magic Beans.
Michael Jordan owning NBA team, Bogut owning 10% of kings, about sums it up
Could be wrong but I seem to remember Jordan having to give up ownership in the Wizards when he made a comeback. The rules of the 2 leagues are obviously not the same but I would think the "no ownership while playing" rule in the NBA was there for a really good reason.
Conflicts of interest everywhere and can seriously undermine the coach and CEO/GM.
Matt
Years ago
Don't AEG own the La Lakers majority, and have full control of the sydney kings. Surely with such deep pockets, they could buy the kings an NBA coach eg get Brett Brown to sydney kings, or get a really good NBA player playing at the Kings or at least a 20-minuters per game role player but in his prime eg Shane Battier standard type player..... Or get an ageing Vince carter to come down and play a season at the Kings etc.. Or get ana geing Tony Parker to come to Kings or Ginobli. They have big pockets you'd think they'd invest big, and get a player better than where Bogut is at right now.. eg get an import who is playing 20 minutes per game in the NBA...
UseTaHoop
Years ago
Would an import be interested in owning a share of a team in Australia? Maybe in the old days of imports staying and making a life here, eg Davis, Grace, or Loggins. Even if they wanted to, there'd be issues with foreign ownership to complicate things.
Australian players based here wouldn’t earn enough. Even returning Aussies from Europe need to still earn money. Owning part of an NBL team is not a way to earn money.
Only returning longer-term NBA playing Australians are, therefore, in a position to part-own a team. Examples would be... Langley and Bogut. Funnily enough, the only 2 players wealthy enough to pursue this option.
Actually, Gaze May have been able to afford it. But his team folded.
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