You joke but more likely is the Saudi Sovereign Wealth fund that already owns teams like Newcastle United and entire Golf leagues. Get ready for our new mascot to be a bone saw.
LeBron has been talking about ownership for a while now so I'd assume (and I know what assuming does) that he's found a way to pool enough liquidity to put up 200-300M to own around 10% of a team and probably has a lot of investors lined up to make up the rest of the ~4B to make LeBron the face of an ownership group. Time will tell. I don't think LeBron will have anything to do with our team. I do think Silver again kicking the can on expansion has probably got something to do with him both wanting LeBron to be the face of ownership of a franchise (likely a Vegas franchise) and wanting LeBron to play at least one more year in the league. LeBron makes way more money for the league than his NBA salary... obviously they've given him the platform to become the billionaire that he is. That being said, I think it's very likely that LeBron or more likely LeBron's people have regular discussions with the league about expansion and what their plan to be involved in that would look like.
You have no idea about what you speak. You have no idea about anything about the new owners. Not a thing. “Best Blazers news ever”? You have no idea.
The ownership group just makes the model look different mostly for marketing reasons. They break down ownership into smaller pieces or agree that the majority owner isn't the controlling owner. I think having MJ at the head of the Hronets gave it some prestige and I think having LeBron as the figurehead would be a value add. Like I said, we'll see if it all comes to fruition at some point but probably not for a couple more years.
Did MJ make a bunch of money for the league owning the Hornets? I mean he is still a minority owner today. I guess I don't see how the Hornets are pulling in fistfulls of cash with MJ as a minority player. Sure - maybe your right and LBJ will be minority Vegas owner. However him being a 5-10% owner wouldn't give him any control of basketball operations, or insight to trades, or even a heads up that they are trading away a superstar player like Luka. It just means he could earn some cash or sell crap for the team like he sells shoes with Nike. MJ was totally different as he actually was the majority owner and decision maker. But MJ role today would be the same as LBJ - which is basically irrelevant. The real story would be whoever has control of the team and is or appoints the teams governor. Same as if Dame gets involved with some ownership group for the Blazers. Dame would have no power besides what any friend or employee or consultant has with a team. He could be shut out from all decisions or input at any time. So the only real thing to pay attention to is who is the big majority owner.
Yikes that sounds ominous from an employee of the team. Keeping my fingers crossed that your just talking about possibilities and not terrible inevitabilities.
It'd work until the next salary cap negotiation. Then that shit gets locked the fuck down by the owner's union.
MJ was the primary owner of the Hornets. LeBron wouldn't be that. LeBron would be what MJ is today for the Hornets - a complete afterthought. Maybe they stick his face on some television ads or sit him courtside but it would be the same as if they named him GM or coach or whatever. Just some position at the whims of the real owner that can be replaced at any time.
Lot of celebrities own sports franchises or minority stakes in them..Russel Crowe owns a Rugby team Elton John a soccer team, Bill Maher was a minority owner of the Mets, Magic Johnson had a piece of the Lakers...Shaq the Kings, I don't know why Lebron or Melo who have investment corporations in place already or Dame who has connections with Toyota, Adidas, the Rap community, Boxing community and basketball would be any different than a Mark Cuban buying a team with financial support. They need a solid line of credit as much as anything. All those guys apparently have at least that going on. At any rate, somebody will jump at the chance to buy this team. I expect it to be soon and no....although I like the idea, I don't think it's going to be Dame..I just thought his injury might make him rethink his job description moving forward.
Magic sold his Lakers shares in 2010. Shaq sold his Kings shares in 2022. NBA doesn't allow owners to finance team purchase with debt.
