Sam
Years ago

Potential Sixers Buyer Article in the paper today

Did anyone else notice the article on Ron Basset in the paper today in the business section?

From listening to ABC radio on the weekend it looks like this is the same guy that is trying to buy the Sixers, the one behind the MVP sports bid.

Sounds like the guy is very motivated and inovative and more importantly cashed up, lets hope he brings that to the Sixers if he gets it!

here is the link, what do you think? http://www.theadvertiser.news.com.au/common/story_page/0,5936,19451356%255E5003680,00.html

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Jerry Richards  
Years ago

Yeah i did see that, was wondering if its the same guy. I agree sounds like an inovative guy, and looks young which is going to be great for the team if he gets it. Belly should interview him on hoops, id love to hear what ideas he has about the team.

Reply #85180 | Report this post


Isaac  
Years ago

Yes, Ron is MVP's backer. He was the year above me at school and we've been chatting for almost a year since he got wind of a potential sale and started reading the forum. Also of significant importance to MVP's bid are Paul Bell (everyone knows him as a make-stuff-happen guy for SA basketball) and Justin Schueller who has good inroads into the next generation of players and fans through Bear Basketball.

I would not be unhappy at all to see these guys succeed with their bid - attached to the game, new ideas and a decent support cast when required. Perhaps a touch green when it comes to business, but you could make the argument that experienced business people haven't exactly taken basketball to extreme heights in recent years anyway.

Reply #85183 | Report this post


Anonymous  
Years ago

Sounds like the younger, fresher more enthusiastic version that has been lacking in recent years, very Mark Cuben like! bring on Ron Basset, Belly and the Bear!

Reply #85184 | Report this post


Lute  
Years ago

agreed, anyone with youth and money dont forget is going to be great for our team. hope these guys get it, will make basketball overall better.

Reply #85198 | Report this post


MS  
Years ago

Mark Cuban doesnt care about losing money...he has so much of it he can afford to throw a bit away!

Woud these new young guys be happy owning the team but not making any coin out of it? Or would they bail out?

Not trying to sound negative but there are a lot more things that need to be addressed to make sure that the future of the team is secured in the long term.

Reply #85201 | Report this post


Hoops Fan  
Years ago

From what i understand this guy is very well cashed up, more than you could imagine, and he is a true hoops fan from what Belly says so think he is infor the long hall dont think we need to worry bout him bailing. think he will be great for the sport!

Reply #85207 | Report this post


Isaac  
Years ago

Funny that Mark Cuban is mentioned. I emailed him the other week asking some questions about relationships between NBA clubs and foreign teams and ownership rules, etc, and mentioned that my local team was up for sale. I got a reply within about two minutes that said, in part, "Save your money". Haha.

Reply #85210 | Report this post


Anonymous  
Years ago

I believe this guy is buying a few businesses around Adelaide and the sixers will help those businesses build a profile.

Sort of like Eddy Groves from the Bullets with his ABC learning centres.

Reply #85217 | Report this post


XY  
Years ago


Eddie Groves is one of the richest men in Australia, with ABC the largest child care company in Australia with hundreds of locations(and now branching out to buying primary schools).

There is money and there is money. Sounds like Ron's business is going great guns, but there are always risks with a vastly expanding small business. If there was a profit downturn, well-meaning philanthropic works would likely be the first thing to go.

But I don't know enough to comment one way or another, just expressing a cautionary perspective.

Reply #85225 | Report this post


Anonymous  
Years ago

Reply #85234 | Report this post


HillBilly  
Years ago

Eddy is being ivestigated by asic is he not ?

Reply #85239 | Report this post


Statman  
Years ago

Hoopsfan...

seriously cashed up more than you could imagine? So where is the money coming from as for him to be as cashed up as you profess Id expect him to have more than a partnership in a company that turned over 2.8 million in the last 1/4.

While the figures are very very impressive for such a young company its hardly in the Eddie Groves league

Reply #85245 | Report this post


Anonymous  
Years ago

I think you will find that the 2.8M figure is closer to profit as there are only two of them running it.

So making 10M + per year isn't a bad thing, plus it looks like the business is growing in leaps and bounds as they are turning away new customers.

Reply #85247 | Report this post


billo  
Years ago

Anon 85247 - A turnover of 2.8m is nothing like a profit of 2.8m no matter how many (or few) people are running it.

What does his company do? How do they get their revenue?

Reply #85255 | Report this post


Anonymous  
Years ago

Annon 85247 is correct. As I am close to the company in question.

Reply #85266 | Report this post


wolly  
Years ago

would we be looking at relocating stadiums if he were to buy the sixers?

Reply #85275 | Report this post


master?  
Years ago

Isaac, I have heard a very stong rumour that if the Bell & Ron group succeed in purchasing the 36ers, they will not buy the Dome and in the 07-08 season they will have the team playing in the Ent.centre.

So if these guys are so cashed up why not buy the Dome? To buy the Dome for around 5-6 million is an absolute steal in any business sense.

My point to this story is that after having watched basketball games in nearly every venue in this country and many stadiums in the USA and Europe, the Dome would have to be the best stadium for its size to watch basketball and its atmosphere that I have been to.

To play out of the Ent.centre would be an absolute joke, I have seen 1 game played there, and all that I will say, is that my company for around the last 10 years have paid the 36ers around $16000+ per season for a box. This will cease straight away if the 36ers stop playing at the Dome.

I was hoping that Ron and the group can see this too, because we are not the only company that will pull out.

Or maybe they just want to build a new stadium similar to the dome for around $15-25 million!

Reply #85281 | Report this post


Isaac  
Years ago

I'd rather not comment on their intentions, but I wouldn't believe what you've heard, or assume the opposite either. I think it's safe to say that they are exploring many options which could explain that people could be hearing any number of things.

As for the Dome, it's worth remembering the following:

- high council rates
- high projected maintenance costs
- crippled by one or both of the government and council as to its use
- a depreciating asset

What makes you think that it would be a steal in any business sense? At a price it makes some sense, but it's not really much of a steal rather than a bit of a risk. Income would be mostly limited to Sixers games (assuming they keep playing from that venue), some social basketball, venue naming rights (not a huge amount, IMO), and what else?

Reply #85284 | Report this post


master?  
Years ago

I do agree to some extent Isaac, but i do believe that the government will loosen the stance on the use of the Dome for other than basketball if it is sold.

And dont forget this is about basketball and the spectators, this is where the money is and always was. My personal believe is that pro basketball will not suvive in adelaide in a growth capacity outside the Dome.

Reply #85286 | Report this post


billo  
Years ago

Anon 85266, can you tell me what the company does? Anon 85247 (can you not just make up alias to keep this simple!!) was suggesting that Statman's figure of 2.8m quarterly turnover was actually 2.8m profit, but profit and turnover are two completely different things.

If the company somehow manages to not pay any employee wages, not have any interest on bank loans to pay back and has no other costs such as rent, inventory, legal fees etc then I think I need to get into it myself!!

Reply #85289 | Report this post


Frosty  
Years ago

From reading the article it looks like its just him and another guy running it, so low employee costs, they dont need a shop front since its all online, so no rent legal costs would be an issue you would think but my point being i dont the there would be much expenditure in something like this, they probably do keep most of that turnover. i have heard that this guy has also bought a couple of other business as well, a coffee chain is one thing i heard. i guess as this goes on we will find out more about Ron Basset, but if the guy is passionate about he sport and with Belly and others along side, i think it will be a great move for the team in adelaide. another point i wanted to make is if they get the team it may not be upto them where they play, remember the Entertainment Centre is a government venue, so it wouldnt suprise me if the Gov didnt sell the dome to a different entity to recur more of the debt back, i read about a church in a different thread, it could happen.

Reply #85291 | Report this post


Statman  
Years ago

Billo....

you missed the #1 cost that a company has to take into account when comparing turnover to profit....TAX

If turnover is 2.8 million and running costs (rent/wages/etc etc) are taken as zero then the best possible after tax profit would be 70% of the 2.8mil ie 1.96 million

As I mentioned earlier this is sensational for this young comapny and the guys behind it and they look to be headed on the path to even greater financial success. But at this stage comparing them to a Cuban or an Eddy Groves is a bit of a stretch.

Reply #85292 | Report this post


Sector 7G  
Years ago

Seems to me that if it was MY money buying the team / stadium I'd be looking at the total financial ROI. The value of the Dome is related to the revenue it can generate. With the Planning constraints which limit the number of uses each year the revenue stream is severely restricted. Has the venue been used for its full quota of "extra" events in the past? Can't recall many concerts there.

Reply #85293 | Report this post


Wasn't the governement paying the Sixers not to have events in the dome that competed with the Entertainment Centre?

That could explain why it has not been used as much as possible in the past.

Reply #85295 | Report this post


Anonymous  
Years ago

They were but that runs out next year - the issue is with council restrictions, not the govt. City of Charles Sturt are very inflexible and one of the most bureaucratic councils going around.

Reply #85297 | Report this post


E-on line  
Years ago

I heard two American guys are extremely interested in buying the Adelaide 36ers, Kenneth Lay and Jeffrey Skilling will be relocating to Australia after making a small fortune from selling his energy stock portfolio. IIRC he worked for a small American company named Enron and wants to buy the Sixers?

Multi billionaires both of them.


I hope it works out as after reading about both guys they sound like they have a lot of integrity and are extremely ethical to there shareholders.


Reply #85303 | Report this post


Isaac  
Years ago

master?, as others have said, the council also has a say in what happens at the Dome once it's sold.

But I do agree, the Entertainment Centre has a lot of disadvantages for a Sixers move - no venue naming rights available, no corporate suites (all pre-sold for all events), probably differences in car parking and food and beverage revenue, plus suddenly the team are no longer training and playing on the same court, which has traditionally been seen as a strong advantage.

Reply #85307 | Report this post


Anonymous  
Years ago

The Dome will lose money whichever way you look at it. The council will not take the restriction off of no concerts.

The EC have added some features that would be great for basketball in the past few months.

Before and after games the Dome lacks an entertainment precent, out from of the EC there are plenty of places for a meal and drink, plus they are adding a cinema complex and shopping centre around 200 metres from the EC.

Many people who have never been to a basketball game don't even kow where the dome is.


Reply #85310 | Report this post


Kent Brockman  
Years ago

Ken and Jeff are great guys, convinced me to give them $4,400,2000 in USD for their new start up venture. The credit card coped a beating with that cash advance but hey, its a good deal.

They say that i am guaranteed to make 330% in 2 days.

They also said i can buy an Indian powerstation off them for $50 bucks....how good a deal is that???

Reply #85311 | Report this post


Anonymous  
Years ago

Lay & Skilling would have got out before BSA went bust or maybe they were working here, under a previous administration!

the might find buying the sixers a tad hard, getting into Australia with a criminal record and ownership from jail might be a problem.

but there best mate George W just might invest.

Reply #85312 | Report this post


Kent Brockman  
Years ago

And then we can get Arnie S in to run the show....god times ahead people....good times.

Reply #85317 | Report this post


E-on line  
Years ago

Kent,

I am using there broadband service now and it FREE, there is only one catch is that it coat you $4000 an hour for the electricity to turn on your computer.

With or without any criminal charges pending they are really nice honest guys. I hope the rumour is found to be correct and they do buy the Sixers because season ticket would be really cheap but a hot dog and coke would cost you $99.50.

Reply #85318 | Report this post


me  
Years ago

lololol
love your work kent,

i must say.. I never thought i would see the words " integrity", "ethical" and "Enron" in a single post!

Reply #85330 | Report this post


Nutwork  
Years ago

Interesting what you can find on Google. Try entering, Ron Bassett - fxig.
He is bidding for my beloved Adelaide 36ers?

Reply #85332 | Report this post


Anonymous  
Years ago

Nutwork - Don't believe everything you read, this poor guy is under an extorsion attempt.

Reply #85335 | Report this post


Anonymous  
Years ago

Think thats a different Ron Basset, the Sixers bidders name is only spelt with 1 T not 2

Reply #85344 | Report this post


Nutwork  
Years ago

sorry my typo, it should say: google Ron Basset - fxig.

Reply #85345 | Report this post


E-on line  
Years ago

Who is Rich Clark? Earn yourself a lay $1000 if you know who he is.


Enron >>>>> ETSA utilities

Reply #85347 | Report this post


Hoops Fan  
Years ago

yeah done a bit of a search looks like Rich Clarke is looking to extort money from him, i found something interesting on this website www.ronbasset.com, seems to explain it.
Be unfortunate if basketball people wouldnt support this guy and if he read some negative feed back to deter from his efforts to get the team.

Reply #85349 | Report this post


Nutwork  
Years ago

I am just curious as to what FXIG actually does(it seems to be an investment co. offering massive returns). Who runs it? Why can't Australians use it? Why are their so many disparaging remarks about it on the web (not only Rich Clark)? What is Ron Basset's core business?

Reply #85351 | Report this post


Todd  
Years ago

Nutwork, For anything bad said about FXIG there are 100 good comments. Don't believe everything you read.

i believe Ron's company did the website design and helps with IT stuff.

FXIG is a company based in Spain, it is now closed to members so as I see it, it is a mute point.

Reply #85353 | Report this post


Justin Schueller  
Years ago

It is good to see positive talk on this thread about the sale as i can not begin to tell how many hours of effort it has been so far. In reading the bits about Ron Basset our investor i can say that this guy truly has the game at heart and a real passion for the team. he has invested a lot of mony into the companies MVP and Bear Basketball, and i can ensure you he is here for the long haul as in my time knowing him he has proven to be inovative, enthusiastic and willing to do anything for the better of the game. There has been a person trying to extort him for some time but Ron has ensured that this guy hasnt succeded. If you do go to the link that shows the article in yesterdays paper you can see his core business, he has also invested in Resteraunts, Franchises and our companies to continue to grow his profile and wealth.
If we are succesful in our bid Ron hopes to inovate basketball and make it the greatest source of entertainment in adelaide along with his consortium of investors which includes some big hitters.

Reply #85354 | Report this post


Ron Basset  
Years ago

Hello Everyone,

I have been told that my name has been mentioned here so I thought I would stop by and clear a couple of things up.

I read this forum from time to time but don't usually post.

My core business is my website management business which can be found at www.bassetwm.com . My company designs and maintains websites for over 100 sites worldwide.

In the past few months there has been a person going by the name of Rich Clark who has been holding me to Ransom. He wanted $20,000 or he would post messages on the internet about me and one of the sites I do work for. I refused to pay this as it would be the start of many more attempts. That site is now closed to new members and as such is a private group and we don't believe his threats can harm us. For more info about this, please look at my website www.ronbasset.com

My other business interests include real estate developing in Queensland, a coffee shop franchise and of course my basketball business interests. That includes being the major owner of MVP (a sports management company) and the owner of Bear Basketball.

I love basketball; I play on a social basis and of course follow the Sixers. I believe in the past 12 months since I showed interest in buying the 36ers with the ex CEO that I have positioned myself well. If we get the team, everything we are doing now (except player management) can be rebranded in the 36ers name (Such as Bear Basketball becomes Sixers in Schools). I will be part of a consortium of 3-4 other people that are very passionate about the sport.

If anyone has any questions for me now please contact me via www.ronbasset.com Even if we are successful in getting the 36ers, I will always make myself accessible to all 36er fans.

Thanks for taking the time to read this.

Ron

Reply #85357 | Report this post


Bonz  
Years ago

Justin....I, along with many of the SA Basketball public hope that your consortium is successful and steer the 36ers and Lightning successfully for many years to come. It's great that the terms "Long haul" and "Inovative" have been used.

I believe you all have a vision that will see our clubs become the envy of the rest of the country.

Good luck!

Reply #85358 | Report this post


Kent Brockman  
Years ago

Did Enron invest in fxig?

Sorry had to be done.

Lets hope who ever ends up with the sixers and lightning do the best thing for basketball in this state.



Reply #85361 | Report this post


Nutwork  
Years ago

May the best bidder win!

Reply #85365 | Report this post


E-on line  
Years ago

If Ron Basset and his consortium of business people buy the Adelaide 36ers hopefully this would see a major increase in how they used the World wide web as a communication tool with there fan base.

With the increase and availability of broadband usage hopefully they redesign there web site like the south dragons and make it as interactive as the cost would allow.


Reply #85367 | Report this post


Fiji  
Years ago

Great post Ron, nice to actually hear from the "sauce".

May also be worthwhile sponsoring some spelling lessons for Justin.

Reply #85372 | Report this post


E-on line  
Years ago

As apposed to the tomato 'source'?

Fiji

Reply #85375 | Report this post


Anonymous  
Years ago

spelling lessons now that would be innovative

Reply #85377 | Report this post


Bo Hamburger  
Years ago

Mark Cuban, Isaac (#85210)? How very interesting. I'm surprised no-one else has asked you about this since you mentioned it.

Was it a veiled-type email asking whether the Mavs/Cuban could look at adding the Sixers to their (ie Mavs') "portfolio" (for lack of a better word)? Did he have anything else to say? Do you think he'd lend me $5?

Actually, I'm kind of impressed with Cuban based on Isaac's comments: here's a guy worth squillions, whose team is going deep into the NBA playoffs, who takes the time to email back someone he doesn't know on the other side of the world.

Maybe Isaac put "NBA refs suck" in the subject heading - that would have got Cuban on side from the start. :)

Reply #85378 | Report this post


Isaac  
Years ago

I was asking him about foreign ownership of teams - whether any NBA clubs owned teams outside of the US, or whether there was any foreign ownership of NBA teams.

But my main question was whether there were any benefits for an NBA club to have a "brother team" in a foreign league (the advantages for the foreign team are obvious - send some staff and players over to see how things are done, bring an NBA benchie out for a tour of Australia, etc).

Unfortunately, his response was to the foreign ownership question and the remark already mentioned, but still - like you said, he's busy and a reply at all is more than many manage sometimes.

Reply #85379 | Report this post


Anonymous  
Years ago

I emailed Ron and he replied to me the next day. Seems like a good guy, let's hope he gets a chance to put some of his ideas into practice.

Reply #86993 | Report this post




 

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