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Its only fitting this thread get derailed into some light trolling
This is the world we live in when Cuban has effectively sold the team but not really though.
14x All-Star, 12x all-NBA, 1x MVP, 1x Finals MVP, 1 NBA Championship: Dirk Nowitzki, the man, the myth, the legend.
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Im curious what’s wrong with Milwaukee. Never been but I love Chicago, which is nearby.
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(12-07-2023, 03:13 PM)KillerLeft Wrote: Yeah, well...if you want a suggestion taken seriously, suggest something reasonable. Like merging with the Kings, maybe?
Utah is one of the worst places in America. Very backward, very corrupt, very racist. I wouldn't wish relocation to Utah on my worst enemy. If you had offered to RESCUE the Jazz personnel you liked by bringing them HERE, that would've been a funny, light-hearted conversation. Sending someone to Utah is like sending them to Hell. Nothing fun about that.
Years ago Dennis Rodman said Utah was a "great city."
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(12-08-2023, 03:31 AM)WildArkieBoy Wrote: Years ago Dennis Rodman said Utah was a "great city."
Of course, he also thought highly of North Korea. So there’s that.
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Landon Thomas (@sixfivelando)
What’s your thoughts on Mavs potentially opening their casino resort / arena in the city of Irving?
D Magazine reported there is about 108 acres in Irving that changed hands in July, which has Adelson family as the taxpayer.
City of Irving has TRE stations and DART Transit
https://www.dmagazine.com/sports/2023/12...in-dallas/
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12-08-2023, 06:19 PM
(This post was last modified: 12-08-2023, 06:39 PM by RGP1981.)
(12-08-2023, 12:33 AM)SleepingHero Wrote: Its only fitting this thread get derailed into some light trolling ![Tongue Tongue](https://www.mavsboard.com/images/smilies/tongue.png)
Correction, good SleepingHero... some light *but masterful and truthful* trawlin'.
F Gump Wrote:Another poster who has to "win" (and declares himself the winner, of course, no matter how inane the idea) when talking hoops with someone? Ugh.
Totes! I win, you lose. And you don't even get a controlling interest like Cuban did. Nyaah!
92 secs into the video gets you to where the small violin plays.
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(12-08-2023, 04:35 PM)SleepingHero Wrote: Landon Thomas (@sixfivelando)
What’s your thoughts on Mavs potentially opening their casino resort / arena in the city of Irving?
D Magazine reported there is about 108 acres in Irving that changed hands in July, which has Adelson family as the taxpayer.
City of Irving has TRE stations and DART Transit
https://www.dmagazine.com/sports/2023/12...in-dallas/
Spokesman for the Sands confirmed the purchase
https://archive.is/sigFE
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12-09-2023, 12:23 PM
(This post was last modified: 12-09-2023, 06:13 PM by BoredAssistant.)
I guess I was getting way ahead of everything with the idea of having a casino on I35 before Winstar. Was hoping for some Tangiers/Scorsese type of intrigue. Cuban having to hire some gaming commissioner's stupid nephew. Mysterious dug up holes around the border. Santoro wont leave and ruins everything.
But yeah Irving. That's cool I guess.
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(12-09-2023, 08:19 AM)MFFL Wrote: Spokesman for the Sands confirmed the purchase
https://archive.is/sigFE “Reese said Sands is clear in its desire to build an integrated resort property in D-FW. He also said the purchase is unrelated to the Adelson family’s deal with the Mavs, noting they’re two separate entities and that the land purchase happened “well in advance.”
Thought this “well in advance” line was pretty funny from the article. How close to the acquisition did it have to be? Talks about Cuban selling to the Adelsons reportedly started last year didn’t they?
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The size of the purchase is double the acreage previously reported - 259 acres
https://archive.is/3gt0k
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https://www.msn.com/en-us/sports/nba/mav...d=msedgntp&cvid=c360ef2982f34adeacd3d50cb88c53b3&ei=34
Cuban to retain 25% stake and forevermore control.
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(12-14-2023, 04:55 PM)HoosierDaddyKid Wrote: https://www.msn.com/en-us/sports/nba/mav...d=msedgntp&cvid=c360ef2982f34adeacd3d50cb88c53b3&ei=34
Cuban to retain 25% stake and forevermore control.
Interesting (and somewhat clarifying) numbers in that article.
1 Cuban sold about 75%. The Adelson's will be the majority owner and the NBA Governor of the team.
2 The total valuation of the franchise at the time of sale was deemed to be 4.03B. But ...
3 Extrapolated, the Adelson's only paid about $2.625B for their 75% share (even though 75% of $4.03B is $3.023B). The "$3.5B valuation" number we keep seeing is what it would have cost the Adelsons to buy 100% at that price per share.
4 But the pricing was skewed because Cuban was keeping 'control of the basketball team' and being designated 'alternate NBA Governor,' whatever those things mean. We do know that Cuban essentially paid about 400K (the difference in price for the 75% being sold) in order to have those things.
5 This does imply that Cuban will make basketball decisions - but it doesn't tell us who sets the financial limits in acquiring players and staff. I presume the A's will hold those reins.
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So are you saying Cuban bought out the other owners shares? Unless that’s the case, he couldn’t have sold 75% and retain 25%.
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(12-14-2023, 06:35 PM)ItsGoTime Wrote: So are you saying Cuban bought out the other owners shares? Unless that’s the case, he couldn’t have sold 75% and retain 25%.
Yes all the minority owners sold out as part of the transaction. Cuban (with ~25%) and Adelson (with ~75%) are the only owners going forward.
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(12-14-2023, 06:27 PM)F Gump Wrote: Interesting (and somewhat clarifying) numbers in that article.
1 Cuban sold about 75%. The Adelson's will be the majority owner and the NBA Governor of the team.
2 The total valuation of the franchise at the time of sale was deemed to be 4.03B. But ...
3 Extrapolated, the Adelson's only paid about $2.625B for their 75% share (even though 75% of $4.03B is $3.023B). The "$3.5B valuation" number we keep seeing is what it would have cost the Adelsons to buy 100% at that price per share.
4 But the pricing was skewed because Cuban was keeping 'control of the basketball team' and being designated 'alternate NBA Governor,' whatever those things mean. We do know that Cuban essentially paid about 400K (the difference in price for the 75% being sold) in order to have those things.
5 This does imply that Cuban will make basketball decisions - but it doesn't tell us who sets the financial limits in acquiring players and staff. I presume the A's will hold those reins.
Dynamite explanation. Thanks a million.
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(12-14-2023, 07:31 PM)F Gump Wrote: Yes all the minority owners sold out as part of the transaction. Cuban (with ~25%) and Adelson (with ~75%) are the only owners going forward. I did understand that all minority owners sold out in this deal. What’s confusing to me is you said Cuban sold 75% of his shares to the A’s and then calculate the amount he should have received based on the valuation of the team. Cuban had somewhere around 85% shares as I read somewhere. If he sells 75% of those he would only have 10% left. Since it’s reported that he retained 25%, that, to me means he sold less than 75% to the A’s. Where am I wrong?
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12-14-2023, 08:56 PM
(This post was last modified: 12-14-2023, 09:05 PM by F Gump.)
(12-14-2023, 08:29 PM)ItsGoTime Wrote: I did understand that all minority owners sold out in this deal. What’s confusing to me is you said Cuban sold 75% of his shares to the A’s and then calculate the amount he should have received based on the valuation of the team. Cuban had somewhere around 85% shares as I read somewhere. If he sells 75% of those he would only have 10% left. Since it’s reported that he retained 25%, that, to me means he sold less than 75% to the A’s. Where am I wrong?
Maybe I just worded it poorly.
THE BIG PICTURE FACTS
Using your numbers, before the sale, The Mavs Franchise (inclusive) was previously owned by Cuban (85%) and others (15%), and 0% by Adelson.
75% of The Mavs Franchise (inclusive) will now be owned by Adelson. 25% of The Mavs Franchise (inclusive) will now be owned by Cuban. 0% of The Mavs Franchise (inclusive) will now be owned by others.
The A's would have paid a total of $2.625B (75% of $3.5B) for what they bought.
THE DETAILS OF HOW THEY GOT THERE? SOME FACTS, SOME GUESSES, SOME UNKNOWNS
If Cuban owned 85% and others owned 15%, then we know that ultimately Cuban sold 60 (of his 85) and the others sold their 15.
To get to that end result, the minority owners sold all of their shares. Did they sell to Cuban or to Adelson as part of a separate transaction? I doubt it, as none of the 3 parties would have been fully protected if the rest of the deal didn't close. But that niggling point is not specifically addressed.
My educated guess -- It was a transactional closing in which a huge hunk of the Mavs were being sold, Adelson paid a huge amount of money, and then both Cuban and the minority owners received their designated share from the closing. (Whether they both received the same price per share, who knows?) And then "summary" numbers are leaked.
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12-15-2023, 03:13 AM
(This post was last modified: 12-15-2023, 03:14 AM by khaled1987.)
(12-14-2023, 08:56 PM)F Gump Wrote: Maybe I just worded it poorly.
THE BIG PICTURE FACTS
Using your numbers, before the sale, The Mavs Franchise (inclusive) was previously owned by Cuban (85%) and others (15%), and 0% by Adelson.
75% of The Mavs Franchise (inclusive) will now be owned by Adelson. 25% of The Mavs Franchise (inclusive) will now be owned by Cuban. 0% of The Mavs Franchise (inclusive) will now be owned by others.
The A's would have paid a total of $2.625B (75% of $3.5B) for what they bought.
THE DETAILS OF HOW THEY GOT THERE? SOME FACTS, SOME GUESSES, SOME UNKNOWNS
If Cuban owned 85% and others owned 15%, then we know that ultimately Cuban sold 60 (of his 85) and the others sold their 15.
To get to that end result, the minority owners sold all of their shares. Did they sell to Cuban or to Adelson as part of a separate transaction? I doubt it, as none of the 3 parties would have been fully protected if the rest of the deal didn't close. But that niggling point is not specifically addressed.
My educated guess -- It was a transactional closing in which a huge hunk of the Mavs were being sold, Adelson paid a huge amount of money, and then both Cuban and the minority owners received their designated share from the closing. (Whether they both received the same price per share, who knows?) And then "summary" numbers are leaked.
Is there is a confirmation about minority owners selling their part? I don't remember reading that but I missed a lot of news lately.
If not, then maybe Cuban actually only sold 61% of the Mavs (he owned 86%) and the 2.625B was paid for him?
The reports mistaken the valuation of the team and Cuban actually got the Mavs valued at 4.3B which sounds about the right price?
https://www.forbes.com/sites/mikeozanian...0c71f209d7
Forbes valued the Mavs at 4.5B and 7th most valuable Franchise in NBA, and in most cases the NBA teams were sold higher than Forbes estimates rather than lower.
I mean looking at the Math, Cuban and Adelson can't force minority owners to accept to sell their stake at 1B less valuation , that is 140M loss. And if Cuban cover for it from his share, that is 0.75B loss? For what? To control Basketball operations? I know he loves the Mavs but he doesn't love it as much.
Something is simply miss reported, either about minority stake, the numbers or a separate deal for something else that cover for such numbers (the whole casino stuff)
One last question I've, I know in many countries, 25% is the exact needed amount for a "veto right" but is that the case in USA? Because if it is then it is interesting number for him to keep
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(12-15-2023, 03:13 AM)khaled1987 Wrote: Is there is a confirmation about minority owners selling their part? I don't remember reading that but I missed a lot of news lately.
If not, then maybe Cuban actually only sold 61% of the Mavs (he owned 86%) and the 2.625B was paid for him?
The reports mistaken the valuation of the team and Cuban actually got the Mavs valued at 4.3B which sounds about the right price?
https://www.forbes.com/sites/mikeozanian...0c71f209d7
Forbes valued the Mavs at 4.5B and 7th most valuable Franchise in NBA, and in most cases the NBA teams were sold higher than Forbes estimates rather than lower.
I mean looking at the Math, Cuban and Adelson can't force minority owners to accept to sell their stake at 1B less valuation , that is 140M loss. And if Cuban cover for it from his share, that is 0.75B loss? For what? To control Basketball operations? I know he loves the Mavs but he doesn't love it as much.
Something is simply miss reported, either about minority stake, the numbers or a separate deal for something else that cover for such numbers (the whole casino stuff)
One last question I've, I know in many countries, 25% is the exact needed amount for a "veto right" but is that the case in USA? Because if it is then it is interesting number for him to keep
Yes the minority owners sold. They own 0% now.
I have explained how the numbers worked, both early on, and now after this latest article, and it's all ending up in the same concept and numbers. The numbers are the numbers. Franchise is valued at 4.03B, but Adelson's are paying 75% of $3.5B for their 75% share. The 'Why would Cuban sell for cheaper' has already been explained too (he wants to retain basketball control, and paid extra to make that happen).
What did the minority owners net? We don't know.
I'll speculate answers to your speculated issues. I would guess they got 15% of the 4.03B value for their shares. Yes, that would mean Cuban's extra cost being paid to retain basketball control is a bit higher than my prior calculation that glossed over the fuzziness of missing details and fine points. Keep in mind that your numbers were about 85 and about 15, which adds more fuzziness we are glossing over.
But we don't have precise info to answer such questions.
If you believe in round numbers, maybe the franchise was formally appraised for 4.03B, the MO's were given 604,500,000 for their 15%, Cuban was given a flat 2B for his 60% (which matches the reported $2B liquidation by the A's), and that gave the A's the "approx" sale valuation of 3.5B which is how it has been reported (with those as the numbers, it would land at 3,472,665,798).
Finally let's note none of this is a real issue. Cuban sold willingly. So he was agreeable to what he had to 'pay' for retaining control of the team, even if it looks "too big" to our tastes. And the minority owners sold willingly. So they were agreeable to how their share price was determined, even if it was calculated in a different way than we would have suggested. That's all that really matters.
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NBA starts process of approving Dallas Mavericks sale to Miriam Adelson today
https://archive.is/h3aRa
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