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View Diary: Mark Cuban...You So Crazy Boy! (36 comments)

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  •  Owners should force Sterling to sell (3+ / 0-)
    Recommended by:
    sukeyna, a2nite, Joes Steven

    They should have done it 15 years ago. They should have done it because Sterling is a shitty owner. They guy had a great run in the legal profession in the 70s and made enough money to buy up a whole ton of rental properties. Since then, he has simply been a rent collector. Not an innovator or a builder. And that's how he has run his team. In the age of free agency, he has refused to pay his players the going rate. That's why they all leave and that's why the Clippers have been basement dwellers for 30 years. Sterling has made plenty of money through the years but in the end, the Clippers brand value has never gone up with the rest of the league. He has basically run his team as a rent collector. He has been sucking off the teat of the NBA the whole time.


    Every time my iPhone battery gets down to 47%, I think of Mitt Romney.

    by bobinson on Wed Apr 30, 2014 at 01:40:50 PM PDT

    •  If/when he sells, he'll get at least 950M (1+ / 0-)
      Recommended by:
      nextstep

      So it's hard to argue that the value of the Clippers brand hasn't increased.

      Many professional sports owners have done as Sterling has.

      Spend as little as you can on operating expenses, and see your investment grow until you exit.

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. www.hamiltonproject.org

      by PatriciaVa on Wed Apr 30, 2014 at 01:53:34 PM PDT

      [ Parent ]

      •  it'll cost his kids about (2+ / 0-)
        Recommended by:
        VClib, nextstep

        $200 million in reduced inheritance.  He sells the team while he's alive, he owes capital gains.  He bequeaths the team and they sell, they get the stepped up basis.  It'll leave a dent.

        If every team owner operated like Sterling, the NBA wouldn't have as rich a multimedia deal.  To the owners, he's not just bad pr, he's dead weight.

        Difficult, difficult, lemon difficult.

        by Loge on Wed Apr 30, 2014 at 02:01:29 PM PDT

        [ Parent ]

        •  He's 80. He'll fight the sale in court (1+ / 0-)
          Recommended by:
          bobinson

          And if he dies before it's resolved, his daughter gets the stepped up basis.

          With respect to your comment regarding competitiveness, every league should operate as the NFL.  Parity increases viewer interest, and it's really all about TV.

          Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. www.hamiltonproject.org

          by PatriciaVa on Wed Apr 30, 2014 at 02:14:44 PM PDT

          [ Parent ]

          •  he can try (0+ / 0-)

            if he voluntarily signed a contract that says his ownership is terminated by a 3/4 vote of his owners, there's not much he can realistically do.  

            The NFL works the way it does because it's more of a team game than the NBA (which is all about maybe 12 players people want to see), but for once the Clippers are actually good (they have two of that 12).  The fact that NFL games are once a week means that national tv deal is more important than local tv would be.  Nobody's going to nationally broadcast 82 games per team, which gives an advantage to teams in big markets (even second-tier teams in big markets), but the national contracts are shared, and the NBA does have a soft salary cap and a provision for sharing some but not all revenue for teams that exceed it.  Parity isn't necessarily great for the players, also.

            Difficult, difficult, lemon difficult.

            by Loge on Wed Apr 30, 2014 at 02:29:25 PM PDT

            [ Parent ]

            •  His lawyers will argue that he has not failed to.. (0+ / 0-)

              ..."contractually fulfill" any of his obligations, so the 75% threshold does not apply.

              Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. www.hamiltonproject.org

              by PatriciaVa on Wed Apr 30, 2014 at 02:41:39 PM PDT

              [ Parent ]

              •  argue to whom (1+ / 0-)
                Recommended by:
                melfunction

                the other owners?  The NBA bylaws also say their verdict is binding as if in arbitration.  To block a sale, he has to both get a court to review an arbitration award on the merits AND after that, get a court to take away the power of whoever it is running the team now, and that won't happen as long as the NBA's interpretations are totally unreasonable.  In other words, he has to convince a court to ignore the Federal Arbitration Act, and prove that not only is retaining his ownership in the best interests of professional basketball, no reasonable person could conclude otherwise.  That's the commissioner, 29 other owners, and the NBAPA, all of them.

                If he didn't want to abide by the NBA's judgment, he could have started his own league.  Capital gains taxes aside, owning an NBA team has been pretty good for Sterling.  He paid $12 million, and the team could go for $1bn easy.  His kids get $800 million from this, alone, not to mention however else his slumlord business has benefited from owning an NBA team -- imagine how many deals you can close to take someone courtside and see Adrian Dantley and the Dallas Mavericks whale on the Clippers back in the 80s.  But you know more about this than Adam Silver, so what am I saying.

                Difficult, difficult, lemon difficult.

                by Loge on Wed Apr 30, 2014 at 03:01:04 PM PDT

                [ Parent ]

          •  Every league shold operate like the EPL (1+ / 0-)
            Recommended by:
            PatriciaVa

            In the English Premier League (soccer), the three last place teams get relegated to play the next season in the minor leagues. If an owner tries to put cut rate talent on the field, they end up in a cut rate league.

            I'm looking at you, Houston Astros.


            Every time my iPhone battery gets down to 47%, I think of Mitt Romney.

            by bobinson on Wed Apr 30, 2014 at 03:23:40 PM PDT

            [ Parent ]

      •  I sgree with you on that point. (1+ / 0-)
        Recommended by:
        PatriciaVa

        You may be able to force him to sell, but you can't force him to sell his team without getting fair market value for his it. So this could be a case of Brer fox throwing the rabbit into the briar patch.
        Will this keep him from suing the league to stop it? He certainly could. Sterling is the Al Davis of the NBA, and that's almost a literal comparison. He's a lawyer. What do lawyers do when they're backed into a corner? Just like a pit viper strikes, lawyers sue! Now don't get me wrong here, some of best friends are lawyers so I ain't hatin' on lawyers. I'm just pointing out that when the scorpion stings the frog half way across the river, should the frog really have been surprised? But you can't keep him from doing it.

        dc

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