The last owner that we'll learn about today is Herb Kohl of the Milwaukee Bucks. As of 2005, Mister Kohl had a net worth of $279 million. He inherited his wealth and ownership of the Kohl's corporation from his father, the founder of the Kohl's brand stores. In 1988 Mister Kohl spent more than $5 million of his own money to campaign for the of seat of outgoing Wisconsin Senator William Proxmire. Proxmire had spent just $145.10 campaigning for the same seat six years before. Mister Kohl has spent $20 million of his own money in subsequent campaigns.
Get to know an NBA owner!
- Thread starter r_u_s_t_b_u_c_k_e_t
- Start date
Please review my posts. I never said that, or anything like that. I have noticed that a lot of people here are cheering for the owners to win their lockout battle with the players. I did a little research and found a lot of interesting information about their heroes (the owners). Enjoy!
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Bravo! (sincerely)
//r00t 4 Jazz
Well-Known Member
This thread has been helpful, it reminded me that when money is involved people and governments can become real a-holes and it increases the higher the money involved gets.
green
Well-Known Member
I am really liking this thread. I enjoy random facts.
Also, I think it is funny the attitude of Americans (particularly the left). I love how tax breaks "cost" the federal government money. NO THEY DON'T. It was never their money to begin with. Instead of saying, "tax breaks cost the government x amount of dollars every year" it should read, "because they pay taxes, and employ thousands of people, who then pay taxes, *insert company* provides millions of dollars to the government to help the government function and provide basic life support to those in need."
Until EVERYONE pays taxes, corporations are not the enemy.
*steps down off soap box, realizing he might have just killed a great thread*
Also, I think it is funny the attitude of Americans (particularly the left). I love how tax breaks "cost" the federal government money. NO THEY DON'T. It was never their money to begin with. Instead of saying, "tax breaks cost the government x amount of dollars every year" it should read, "because they pay taxes, and employ thousands of people, who then pay taxes, *insert company* provides millions of dollars to the government to help the government function and provide basic life support to those in need."
Until EVERYONE pays taxes, corporations are not the enemy.
*steps down off soap box, realizing he might have just killed a great thread*
Poeple don't buy sports teams to make profits (or if they do, they run the team like Sterling).
jazzfan1971
Well-Known Member
This helps to illustrate how much easier it is going to be for the owners to withstand a work stoppage than the players.
Stifle Tower
Punch Bowl Re-Filler
They don't?
While a major part of the purchase is ego-driven, the profit potential cannot be overlooked. Most of the profit is made on the appreciation of the frnachise over the ownership period. So the goal by most owners, especially those who may not have a huge cash flow from other businesses would be to run the team at as close to break even as possible in terms of yearly operating revenue/expenses.
And apparently that isn't happening right now for the smaller market teams. I'm not championing their cause, but I certainly want a fairer system as a fan. Baseball has been ruined by every team basically being a farm club for the Yankees and Red Sox and to a lesser extent, teams like Philadelphia or Texas willing to really up their payrolls. The only thing left to cheer for is the occasional run by an underdog - but that's usually followed by the break up of the team in free agency.
I don't mind the thread. Just stay on point. Kroenke doesn't work for Wal-Mart. You can't really blame him for Wal-Mart's impact on state and local governments because he is married to Ann Walton (who probably doesn't work for Wal-Mart either). And when you're finished with the owners you can start on the players.
Of course the people with "more net worth" are going to be able to withstand the lockout better. However, most players have endorsement deals and other business ventures as well to soften the blow. I would say that unless you're in the top 20 percent in the league, you're probably hurting pretty bad in this lockout. Fringe retirement players suffer the worst (you're not getting any younger). However, if these players saw this coming a few years back and didn't "plan for this" than it really is their own fault. The ones I feel the worst for are 2nd round/undrafted rookie caliber players who likely won't get a fair shot this year.
Joe Bagadonuts
Well-Known Member
Spot on. Repped.
Our first owner of today is: Ted Leonsis of the Washington Wizards. Mister Leonsis amassed his estimated $1 billion fortune while working as an executive at AOL and then AOL Time Warner from 1993 to 2006. AOL Time Warner's investors were not as fortunate as Mister Leonsis. The market cap value of Time Warner stock declined by approximately 80% during the AOL era costing investors hundreds of billions of dollars. Mister Leonsis lives in a 20,000 square-foot estate in Potomac, Maryland that was once the summer home of Franklin Delano Roosevelt. It has 8 bedrooms, 11 bathrooms, parking for ten cars, and is said to be haunted.
DutchJazzer
Banned
what about second and third year players. who are still on rookie contract. according to the rookie scale(not counting top 10 rookies) they made something like 1.5 million.
so substract tax
moving cost(moving to another city) maybe byuing a house. etc etc. maybe mortage/lease. those guys might not last 6 months without a paycheck. same goes for 3rd year players
freakazoid
Well-Known Member
You need to do some more research and find out who truly benefits if the players were to get their way. The RICHEST of owners would have an advantage over teams like Utah. Siding with either the owners or players is completely shortsighted.
This thread is quite ironic, actually.
I never said Kroenke worked for Wal-Mart. He is clearly working very closely with Wal-Mart:
https://www.denverpost.com/null/ci_6318716
Most of the threads around here have a title that is irrelevant to its content. I am trying something different: I stated the purpose of the thread in the title.
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I rang the phone at his Park City golf course residence. Now we're just clearing some time on our schedules for a sit-down interview.
fargon_sneaky_bastage
Well-Known Member
I find this meatloaf to be both shallow and pedantic.