In a testament to the financial strength of the NBA, the recent purchase of a 2.5% stake in the Memphis Grizzlies by Joshua Kushner valued the team at $1.32 billion
In a separate deal, Kushner's former classmate at Harvard, Brandon Arrindell, also bought a small piece of the Grizzlies. My sources did not know Arrindell's stake or valuation of former classmates at Harvard, though they are believed to be comparable to Kushner's. For both the Kushner and Arrindell deals my sources did not know who the sellers were.
Typically, the small pieces of sports teams are sold at discounts— anywhere from 20% to 30%—to what a controlling interest would fetch because limited partners usually have no say in how the team is run, yet may have to make capital calls. The size of the discount depends on how profitable the team is, how much faith the LPs have in the general partner, what, if any dividends investors could expect, and the team's financial prospects.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Memphis Grizzlies Minority Sale To Kushner Values Team At $1.32 Billion
Weiterlesen »
Touting lifestyle changes, Johnny Manziel believes he will rebound with Memphis AAF teamNew AAF Memphis Express quarterback Johnny Manziel told reporters Tuesday that he's still got what it takes to succeed at the pro level.
Weiterlesen »
Boeing has lost $40 billion-plus in market value since Ethiopia crashBoeing is having a horrible month.
Weiterlesen »
Levi Strauss valued at $6.6 billion as IPO prices above targetLevi Strauss & Co is coming back to the stock market after more than three decades with a valuation of $6.6 billion $LEVI
Weiterlesen »
Levi Strauss, Valued At $6.6 Billion, Is Making A Comeback As A Public CompanyThe 165-year-old company that invented blue jeans still makes most of its money from men’s pants, but that's changing.
Weiterlesen »
Biogen scraps Alzheimer drug trials, wiping $17 billion off its market valueReuters - Biogen and partner Eisai Co Ltd are ending two late-stage trials for t...
Weiterlesen »
Biogen scraps two Alzheimer drug trials, wipes $18 billion from market valueBiogen Inc and partner Eisai Co Ltd are ending two late-stage trials of their ex...
Weiterlesen »
CVS Health CEO on reducing costs: Billions in value opportunity is 'in front of us'Jim Cramer talks with CVS CEO Larry Merlo, who says reducing medical costs with the Aetna merger will unlock billions of dollars in value for the company.
Weiterlesen »
Makeup brand Glossier valued at over $1 billion in latest funding roundGlossier Inc, the online cosmetics company with a cult following among millennia...
Weiterlesen »
Glossier started as a beauty blog and is now valued at $1 billionGlossier is now a unicorn. The New York-based beauty brand is valued at $1.2 billion following its latest funding round, a source says
Weiterlesen »