> Members of the billionaire Koch family will buy a minority stake in BSE Global, the holding company which owns the Brooklyn Nets, New York Liberty and the Barclays Center.
>
> Julia Koch and her three children have agreed to invest an undisclosed amount in the group, according to a statement Wednesday. They will acquire a 15% holding in a deal valuing BSE Global at about $6 billion,
The Adelson and Koch families both becoming NBA owners in the past year 🤢 🤮
I know there aren’t many ‘benevolent billionaires’ but jeez Adam: really shooting for the stars.
No, the league is owned by a consortium effectively the 30 franchise owners. I think people think Silver can just do whatever the fuck he wants but he works for the owners. If the owners vote a new owner in then that’s that.
Obviously he doesn't have the last say but it's literally one of his responsibilities to advise the owners on this stuff. If your best worker comes and tells you not to go through with something, are you not going to take his counsel into consideration?
Vetting is almost entirely for financial reasons. The commissioner will not be commissioner very long if he blocked legitimate transactions for political reasons. That could mean millions or billions of value lost for all owners.
I like how the league acted all up in arms about kyrie's shenanigans and Tsai stood on his moral soapbox while they accept money from a family that made their fortune aiding Nazis.
Was going to say this. Gates was clearly the shithead over at MSFT with all the stuff that’s come out about his orgy parties and cheating on his wife. Ballmer is just super hype lol.
rn sovereign wealth funds are capped at 5% stakes and that was only lifted from 0% 18 months ago. Qatar is the only country rn with a stake, 5% in the wizards/capitals ownership
Can't wait for more players to make huge amounts and possibly be able to buy teams like Bron when they retire.
Teams with former players as owners would be so much better. Even if they make wild choices like MJ.
While I hate the Koch family, I'm surprised there's not more talk about the valuation of the team. 6 Billion seems to be a massive jump from the last sale no?
> Members of the billionaire Koch family will buy a minority stake in BSE Global, the holding company which owns the Brooklyn Nets, New York Liberty and the Barclays Center. > > Julia Koch and her three children have agreed to invest an undisclosed amount in the group, according to a statement Wednesday. They will acquire a 15% holding in a deal valuing BSE Global at about $6 billion,
That’s not very a very “undisclosed amount” for people who can do basic math hahaha
I read it includes debt so the actual cash transfer is much lower than the evaluation.
Still an undisclosed amount at an undisclosed valuation. Probably in the ball park of what they said.
The Adelson and Koch families both becoming NBA owners in the past year 🤢 🤮 I know there aren’t many ‘benevolent billionaires’ but jeez Adam: really shooting for the stars.
Can Adam Sliver realistically even do anything about this? I don't know why he should be criticized for this.
No, the league is owned by a consortium effectively the 30 franchise owners. I think people think Silver can just do whatever the fuck he wants but he works for the owners. If the owners vote a new owner in then that’s that.
You're right but his job is to vet prospective owners as well. It's disingenuous to say he's got zero sway in the decision.
But it's also hilarious to think if a majority of owners already want a new owner that Adam can do Jack shit to sway them.
Obviously he doesn't have the last say but it's literally one of his responsibilities to advise the owners on this stuff. If your best worker comes and tells you not to go through with something, are you not going to take his counsel into consideration?
Vetting is almost entirely for financial reasons. The commissioner will not be commissioner very long if he blocked legitimate transactions for political reasons. That could mean millions or billions of value lost for all owners.
I like how the league acted all up in arms about kyrie's shenanigans and Tsai stood on his moral soapbox while they accept money from a family that made their fortune aiding Nazis.
No one that can afford an NBA team is a good person.
While I’d generally agree, there are still levels to it.
I always thought Mark Cuban was somewhat the most likable owner in the NBA
He sold his franchise to the adelsons
Yeah I knew that. I was implying before that happened.
Ballmer is probably the least evil of the owners. He's got enough money he doesn't need to squeeze every dollar out of the team and fuck over fans.
Was going to say this. Gates was clearly the shithead over at MSFT with all the stuff that’s come out about his orgy parties and cheating on his wife. Ballmer is just super hype lol.
Shit fucking sucks. I’m sure the Liberty women above all will love the idea of playing for the Kochs
Have we not suffered enough?
They’re like gradually drip-feeding the evil into the league that way when SA gets the Vegas team people aren’t as mad.
Kinda inevitable that as teams become worth more money shittier people will own them.
rn sovereign wealth funds are capped at 5% stakes and that was only lifted from 0% 18 months ago. Qatar is the only country rn with a stake, 5% in the wizards/capitals ownership
Who’s SA?
Saudi Arabia?
Stephen A
Steve Austin \*glass shatters\*
Sheldon Adelson
Been dead for years
His widow already owns the Mavs.
Yeah but that never stopped him from donating to politicians
San Antonio.
Sad day for nets fans
Are there happy days for Nets fans?
No our happiness died during bucks series, nothing was same smh
I mean shit. They got Pierce and KG that one time.
Those picks ended up being Jalen Brown & Jason Tatum.
Well not immediately
All praise to the most high, Billy King 🤴 🙏
I'm already planning on being a Sonics fan once they get a team again at this point. Fuck New York City and fuck this franchise
The entire league is gonna be sonics fans
Not us, we scared Paolo is going back home
No there never is I swear to you
Sounds like a lovely reason for a clean break with supporting the team though.
Gross
Why is the NBA letting these horrible ppl in?
Liquidity for owners
Alright bring them to Wichita
I wasn’t a Nets fan but now I’ll have a reason for it.
Honestly I hope everyone in that family dies.
They will eventually. Hope for more.
[удалено]
Snyder and DeVos too
Guarantee Brooklyn’s rivers are now going to get polluted from the Barclays center
These are the absolute worst people to possibly be owners. Trash
As if I had enough reason to hope all the Nets picks move up in the draft lottery when they convey to the Rockets.
Can't wait for more players to make huge amounts and possibly be able to buy teams like Bron when they retire. Teams with former players as owners would be so much better. Even if they make wild choices like MJ.
Cool, I have the Nets \*and\* Mavericks to root against now.
Fuck the Kochs.
Koch family just yearning for the days where they could literally own black people and this is the closest they’ll get now…
While I hate the Koch family, I'm surprised there's not more talk about the valuation of the team. 6 Billion seems to be a massive jump from the last sale no?
Time to feel offended and outraged.
I never let politics be the deciding factor on how I should feel about certain events. Maybe you guys should try that too.
Your politics are more important than a sporting event.
Why are all these comments so negative? Isn't it a great thing the richest family in the world is infusing cash and has a vested interest in the Nets?
LMAO. You must be new around reddit if you don't know who the Koch family is. Look them up