Byron Allen plans on buying Broncos

[Tbe]

1 hour ago, Matthias said:

That's not an accurate net worth for him.  He's a billionaire.  He owns the Weather Channel and recently settled a lawsuit with Comcast and Charter Communications.  That net worth reading of 450 is likely old.  He will likely be a majority owner with no need for a group.

A bunch of articles are out about him today and they all cite that number.

He purchased the weather channel 3 years ago for $300 mil. It hasn’t doubled in worth in that time.

[Waldo]

Cool, do WTF and MIA next NFL. 

 

[SizzleBuzz]

9 hours ago, Tbe said:

So how is this going to work? 
 

Current rules state the majority owner must own at least 30% of a franchise.

If Byron liquidated everything he owns, he could only buy 22% (assuming a $2B price).

Edit: The team is worth $3B.

[Matthias]

3 hours ago, Tbe said:

A bunch of articles are out about him today and they all cite that number.

He purchased the weather channel 3 years ago for $300 mil. It hasn’t doubled in worth in that time.

The number itself is still old.  I can remember that number (or somewhere around it) on his net worth from 4-5 years ago.  If you look at Entertainment Studios, it's total assets are worth over a billion.  Add in the the assets of the Weather Channel and its safe to say Byron is well over the threshold.  He put up the 300 million cash in hand to purchase the Weather Channel.

For some reason, Allen has been able to hide his true wealth from the public media, or they for some other reason they don't want to report him as being a billionaire.

[Snake]

10 hours ago, Cam's New Arm said:

You're a troll so, not really taking you seriously but our new training facility is telling you to gfy.

Oh you young fugers will learn. 

[PanthersATL]

10 hours ago, Panther'sBigD said:

 and co-owns FoxSports. 

co-purchased 21 Regional Fox Sport networks and Fox College Sports. They've since been rebranded in 2021 as Bally Sports since the Fox name wasn't part of the deal.

Doesn't mean your point isn't valid about being able to use the network in some fashion, even as a minority owner of them. 

 

[SizzleBuzz]

4 hours ago, Matthias said:

He put up the 300 million cash in hand to purchase the Weather Channel.

Source?

[ForJimmy]

8 hours ago, SizzleBuzz said:

Source?

[Cam's New Arm]

With the way people think around here, I'm sure the NFL will let him pay what he can and then they'll chip in the rest and make him their permanent pin cushion for the league. amiright?

[Ja Rhule]

You guys do realize you don’t need cash on hand to buy a team?  Byron can just take out a loan.  I bet you NFL can even give him private loan (LA stadium) if approved by the owners.

Kroenke purchased Arsenal for $2B with zero cash.  He took out low interest loan and made the team pay it off over 10 years.  So he basically purchased $2B team for free.

The rich/elite qualify for completely different perks most of us regular folks do.  They do not need cash on hand to make money and make big purchases.

[WUnderhill]

13 minutes ago, Ja Rhule said:

You guys do realize you don’t need cash on hand to buy a team?  Byron can just take out a loan.  I bet you NFL can even give him private loan (LA stadium) if approved by the owners.

Kroenke purchased Arsenal for $2B with zero cash.  He took out low interest loan and made the team pay it off over 10 years.  So he basically purchased $2B team for free.

The rich/elite qualify for completely different perks most of us regular folks do.  They do not need cash on hand to make money and make big purchases.

You have the ability to borrow against your assets too, they just have much better assets