What will Portland's NBA franchise sell for?
Au contraire, JC. That Suns sale hurts the chances of a near-term Blazers sale
Ishiba is not paying $4 billion. $4 billion is the enterprise valuation of the Suns & Merc (meaning, the value of 100% of the company). Ishbia is paying $2.4 billion for 60% of the Suns, which (crucially) includes the voting shares which are part of the 35% owned by Sarver
Point is, $2.4 billion was the price for control of the Suns
I don’t know what the Blazers ownership structure looks like, but if we are to trust your reporting (and I do), then 100% of Allen’s shares in the Blazers must be sold and donated to charity. (Side note: How mad must Allen’s former “contractors” be? All that time spent on his boats and all they got was payment for services rendered…)
If Allen owned 100% of the Blazers, that makes the buyer’s ask a lot tougher. It would be hard to see the team selling for even $2.5 billion, given what you reported about a team in a bigger market with more revenue effectively selling for $2.4 billion to Ishbia
Bottom line: There will be buyers willing to pay what Knight offered (and maybe a shade more), and on the other side will be Allen’s sister trying to sell for $3 billion+. It’s hard to see either side giving in to make a sale happen
John, I am no Twit, and my Face has never been Booked. How to I submit Mailbag Q's??
Imagine paying 4 billion for a NBA team and being forced to take the WNBA team too.
Boy do I miss the days of the run and gun with Clyde, Terry, mercy mercy Jerome Kersey, and crew! I hope it comes back with the new owners someday!
Now we can see that Phil Knight’s offer was insultingly low. You don’t offer the seller $300,000 for a house which is worth $500,000 and just chalk it up to being a starting point. So in retrospect Jody Allen’s cold shoulder isn’t too surprising.
I really hope 100% of the team is sold very soon, as the Blazers need to get Bert Kolde completely away from the franchise. The longer he’s around (especially with Paul gone now), more inept decisions and damage will occur.
I also feel like it will end up being someone who is not Phil Knight that buys the team.
Blazers will end up in Las Vegas.
Dame will end up at Golden State.
Bert and Jody just need to ride off into the Sunset...lets move on here
Well, when you have a rare commodity and elite $$$$billionaires who like new toys, all reason and rationale goes out the window. I don't believe these people go into a deal like this looking for near time profit. My question is why an offer from Knight would be entertained if the current owners have an emotional attachment. Wouldn't a buyer that is not on their way to 90 year sold be more acceptable. A younger guy who is not on their proverbial last leg? And the price could be a lot higher than any of us can fathom. What are the Seahawks worth? How much premium will a multi billionaire go? The sad thing is the fans are considered last in the pecking order, I recall buying tickets to the Sonics for $6 in 1977, we had a great time in the nose bleed section. I couldn't afford the price of a beer now. I hope the Portland area has someone who can step and keep the team local, you saw what happened to the Sonics when the coffee guru sold them.
Is there any “timeline” stipulation in the Allen Trust or could lack of sale drag on for umpteen years?
John, do you know if the Trail Blazers own both Moda Center and Veterans Memorial Coliseum? I read that the Rose Quarter itself is jointly owned by Vulcan and The City of Portland. A huge part of the valuation would be those thirty acres that the two facilities sit on. Development of the whole space into an LA Live type neighborhood would change the nature of the entire area with a mix of retail, condominiums, office space and dining venues. If Vulcan does own that land, it may have been wise to hold off taking the $2 billion offer from Phil Knight when commercial real estate values are depressed owing to the social unrest, pandemic and homeless situation in PDX currently. It's hard to envision Trail Blazers to be worth north of $3 million in the environment given the sale of the Brooklyn Nets two years ago to Joe Tsai for $2.35B.
I realize the Blazers are and always have been a business, but the more the billions begin to grow, the less connected I feel to the team. How is it even possible to feel connected to players who make more in one night than most people do in a year? The NFL is heading in a similar direction for me. Money poisons everything.
Does Smolinsky do the smart thing and find a face for the deal who's twenty years younger and less prone to take their grievances to the New York Post?
I'm struggling to pay energy bills for the first time in my life. That kind of money in the world we live in...Guess I truly am a have not!