Richardson statue "gone for good"

[Moo Daeng]

On 6/13/2020 at 10:11 PM, RASTAN66 said:

You are wildly overstating the situation. 

Jerry's stake before expenses/taxes/fines was approx $675 million...

...you're off by a factor in excess of four.

He had a 48% stake. Forbes specifically mentions him coming away with a 10 figure check.

.48 * $2,300,000,000 =  $1,104,000,000 (10 figures)

Use a calculator if you must.

 

https://www.forbes.com/sites/kurtbadenhausen/2018/05/22/how-the-small-market-carolina-panthers-sold-for-a-record-2-3-billion/#223367221786

 

[RASTAN66]

10 hours ago, Moo Daeng said:

He had a 48% stake. Forbes specifically mentions him coming away with a 10 figure check.

.48 * $2,300,000,000 =  $1,104,000,000 (10 figures)

Use a calculator if you must.

Forbes are the last source you want to cite, they are awful! 

Details of any kind elude Forbes (sale price wasn't $2.3B), really just a financial TMZ at this point.  Let me take that back, the integrity of TMZ's reporting is far better than Forbes! 

Forbes are same group who told you Kylie Jenner was world's youngest billionaire which was a complete farce.

Richardson's personal stake was actually 35.503% (to be exact), other family members controlled  12.312%. 

.35503 * $2,250,000,000 = $776,316,371 (before expenses & taxes)

For the sake of simplicity let's assume there were no other frictional costs (investment banker fees, the $3M fine Jerry owed the NFL, etc) and ultimately Jerry collected the above funds minus taxes of 25%...

$776,316,371 * (1 - .25) = $582,249,487...

...not even close to the original "2.2 billions dollars" assertion.

NOTE: I edited my initial post above due to an error I found in a spreadsheet which was created when Deadspin leaked internal Panthers financial statements a few years back.  One of the Deadspin docs mistakenly listed Jerry's ownership stake in at 64% of the 90% of Panthers GP, LLC...my estimation is it was actually 74% which resulted in an understatement of his stake by about $100M.