Quote:
Originally Posted by powderjunkie
Beyond the dollars and cents, you have to factor the intrinsic value of owning a team - including the chance to have your name engraved on the cup, the guaranteed owner's box to every event, the rounds of golf with your best players, the competition/camaraderie you get to have with the other old white dude's that own teams, the envy you can relish from other rich dudes that aren't in this elite 123 member club in N.A., the way you can be both loved and hated by your fanbase.
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If we're talking about it as an investment, which Locke was doing, none of that matters a rat's arse. Of course there are non-monetary reasons to own a team – but as such, they do not affect the monetary calculation of whether the asset is appreciating or not.
If the asset value has topped out (as it may have done, as there is a distinctly limited appetite for teams at $500m+), then the expectation of future capital gains is not a reason to hold onto the team. The non-monetary reasons are still there, but they don't magically put money in your pocket.