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#1 |
Playmaker
Join Date: Feb 2004
Posts: 4,575
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Re: Josh Harris = New Owner!?
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#2 | |
A Dude
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 44
Posts: 12,416
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Re: Josh Harris = New Owner!?
Quote:
1) $6B is still a record for the most an organization has ever sold for 2) it didn't sell for more because of two very important and very real reasons: a) interest rates have increased significantly in the last year, increasing the cost of borrowing by lots. Just like in the housing market, when mortgage rates go up the home price decreases. b) prices of these franchises have reached levels where there are only 50 people in the world who have enough liquidity just laying around to make the NFL's 30% minimum equity threshold. And people beyond those 50 who have assets they could liquidate, generally don't want to liquidate assets to purchase a franchise. They would rather add to their empire. All this is to say: the NFL's rules for minimum equity threshold are archaic, they were written in a time when franchises sold for a handful of millions and the number of people liquid enough to buy in was a lot higher than 50. 3) Harris has already been vetted by the NFL, presumably this was the structure he almost won with last year when bidding on the Broncos, before the Waltons swooped in with a higher offer. and finally 4) The owners want Dan Snyder gone and if they can get a fair price rather than a great price, they'll flex on rules because of the ROI they'll reap on having an owner in the Washington market who can bring it back. The entire NFL wants our attendance to go up, our merchandise to sell, and a new stadium. They all stand to pick up returns on seeing Snyder out. Any deal that's good enough is good enough.
__________________
God made certain people to play football. He was one of them. |
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#3 |
\m/
![]() Join Date: Feb 2004
Location: NY
Age: 51
Posts: 99,427
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Re: Josh Harris = New Owner!?
Brian Davis talks about his bid for the Commanders
The mistake that everyone covering this story seems to be making is overlooking the fact that, regardless of where the rest of the money comes from, Davis needs to buy 30 percent of the team on his own. He needs to have $2.1 billion, on his own without loans or investments. Of the various stories that have emerged in recent days, none have indicated that Davis has $2.1 billion, in liquid cash, along with enough other resources to step in and run the team. |
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#4 | |
Playmaker
Join Date: Feb 2004
Posts: 4,575
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Re: Josh Harris = New Owner!?
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#5 | |
A Dude
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 44
Posts: 12,416
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Re: Josh Harris = New Owner!?
Quote:
__________________
God made certain people to play football. He was one of them. |
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#6 |
\m/
![]() Join Date: Feb 2004
Location: NY
Age: 51
Posts: 99,427
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Re: Josh Harris = New Owner!?
aka not even worth talking about, it's disappointing that some in the media have been reporting on this as if it's remotely legit
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#7 | |
A Dude
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 44
Posts: 12,416
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Re: Josh Harris = New Owner!?
Quote:
There's 1) what you know you know, 2) what you know you don't know, and 3) what you don't know you don't know. With those media members you're referencing they don't have a very big #2, but they have a very big #3. Knowing what you don't know is entirely in your control and it's lazy to not think about it. If they were thinking about it, they'd know they're not experts on financing and the NFL's equity requirements, and they'd ask somebody who is. That's why I keep coming back to credibility. Guys like Schefter, Keim, Standig etc know what they don't know, and they ask others before they report it. Others just run with it and end up looking like an idiot. There's a reason the phrase "I know enough to be dangerous" exists.
__________________
God made certain people to play football. He was one of them. |
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#8 |
Playmaker
Join Date: Feb 2004
Posts: 4,575
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Re: Josh Harris = New Owner!?
Based on this morning's interview BD said today he's sending Bank of America a signed affidavit that shows he has the money he says he has and its from legit sources. Maybe this is a new BoA vetting process or a continuation of the old one but according to BD he's still being vetted.
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#9 | |
\m/
![]() Join Date: Feb 2004
Location: NY
Age: 51
Posts: 99,427
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Re: Josh Harris = New Owner!?
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#10 |
Playmaker
Join Date: Feb 2004
Posts: 4,575
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Re: Josh Harris = New Owner!?
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#11 |
From a Land Down Under
![]() Join Date: Aug 2012
Location: toms river, nj
Age: 52
Posts: 23,063
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Josh Harris = New Owner!?
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#12 | |
Playmaker
Join Date: Feb 2004
Posts: 4,575
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Re: Josh Harris = New Owner!?
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#13 |
Living Legend
Join Date: Sep 2010
Location: Hanahan, South Carolina
Age: 41
Posts: 19,466
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Re: Josh Harris = New Owner!?
May 22nd cannot get here soon enough. Cannot wait for this thing to cross the finish line. I'm going to buy a Josh Harris poster when this is all said and done.
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Turkish: What's happening with them sausages, Charlie? Sausage Charlie: Five minutes, Turkish. Turkish: It was two minutes five minutes ago. |
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#14 |
\m/
![]() Join Date: Feb 2004
Location: NY
Age: 51
Posts: 99,427
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Re: Josh Harris = New Owner!?
Davis won't even get by the BoA vetting process to be formally rejected by the league. He's not even going to get a foot in the door to have a leg to stand on with a lawsuit.
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#15 | |
From a Land Down Under
![]() Join Date: Aug 2012
Location: toms river, nj
Age: 52
Posts: 23,063
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Re: Josh Harris = New Owner!?
Quote:
This is all just publicity for him. Good publicity because nobody knew who he was before it. Bad publicity because everyone knows he is a con artist now. |
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