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Originally Posted by DiracSpike
Yea.....that's how investing works. What a bizarre statement.
I'm sure he does this too. He probably looks at an oversaturated sports market, valuations approaching bubble levels, and an eroding building in a economically stagnant city with no solutions to either of those problems in sight.
Anyway, your original statement was that no one benefits from the team being sold. Clearly Edwards and the owners benefit. Not even debatable.
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He only benefits if that is the top price he can get Vs what the team is worth now.
My point is, I hardly think that Edwards or other billionaires measure their gains against what they originally invested to build their companies decades ago. They see what they currently have and try to maximise value and return.
You read the tea leaves and see tons of negativity in the market. That's fine, he may be similarly resided, but amid the negativity, he has given this terribly stagnate city a cap team locked in for years. And he has a city council coming to him to potentially make his business value shoot through the roof. Something tells me it's not as negative as you think.
But it presents an interesting question and I'll use hypothetical numbers. If Edwards sold his team for 400 million to a local buyer who had an arena built within a decade. The franchise is now worth 700 million and climbing. Did he benefit?
Anyhow, we've both spoken in pretty certain terms on a subject that actually has lots of room for debate. But the point I'm most convinced of in the flames relocation discussion is that the BOG will never let it happen.