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leor_77
Franchise Player
Joined: 23 Mar 2012
Posts: 21920
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 Posted: Mon Apr 27, 2020 9:47 am Post subject: |
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| LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
It is disappointing, but I'm pretty sure we aren't the only NBA team who did this. Wondering how it leaked, it should be private. |
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PayasoLoco
Franchise Player
Joined: 07 Jul 2001
Posts: 16663
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| Posted: Mon Apr 27, 2020 9:52 am Post subject: |
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| LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
In the sports ownership world we are a mom and pop shop and ran like one |
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yinoma2001
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Joined: 19 Jun 2010
Posts: 119487
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| Posted: Mon Apr 27, 2020 10:08 am Post subject: |
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Yeah. This is why Ballmer is trying to make inroads in LA, however futile that may appear. Buss family simply cannot compete with his multi billions. But we've known this for a while.
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LakerSD
Franchise Player
Joined: 10 Nov 2016
Posts: 23804
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| Posted: Mon Apr 27, 2020 10:16 am Post subject: |
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| PayasoLoco wrote: | | LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
In the sports ownership world we are a mom and pop shop and ran like one |
No doubt, which is actually concerning moving forward.
Even being the biggest cash cow along with the Knicks, the Buss family has an uphill battle against the richest owners like Ballmer. It’s the non-salary cap operations and resources that take a hit imo.
They should also stop playing nice. It’s pretty clear the crap for the past few years is coming from Ballmer’s organization as he desperately tries to find love in LA. |
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venturalakersfan
Retired Number
Joined: 14 Apr 2001
Posts: 144551
Location: The Gold Coast
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| Posted: Mon Apr 27, 2020 11:53 am Post subject: |
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| leor_77 wrote: | | LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
It is disappointing, but I'm pretty sure we aren't the only NBA team who did this. Wondering how it leaked, it should be private. |
No, it should be very public. I have already sworn off spending money that I earn on the Lakers, now I have added Ruth Chris and Shake Shack to the list. I am happy to see the Lakers return the money. I don’t own a small business so I am not sure how PPP works but from friends who do, I know that you have to apply through your bank. I’m curious who in the Laker organization thought that would be a good idea.
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RIP mom. 11-21-1933 to 6-14-2023. |
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activeverb
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Joined: 17 Jun 2006
Posts: 37470
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| Posted: Mon Apr 27, 2020 12:11 pm Post subject: |
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| leor_77 wrote: | | LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
It is disappointing, but I'm pretty sure we aren't the only NBA team who did this. Wondering how it leaked, it should be private. |
I don't think it should be private. There should be a publically available list of every company that receives money. That's the only way you can be sure the system is not being abused. |
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leor_77
Franchise Player
Joined: 23 Mar 2012
Posts: 21920
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| Posted: Mon Apr 27, 2020 12:28 pm Post subject: |
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| activeverb wrote: | | leor_77 wrote: | | LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
It is disappointing, but I'm pretty sure we aren't the only NBA team who did this. Wondering how it leaked, it should be private. |
I don't think it should be private. There should be a publically available list of every company that receives money. That's the only way you can be sure the system is not being abused. |
Yeah, fair enough...Especially after thinking about it some more.
They're going to lose way more than the $4 million with the negative publicity to come from this. |
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PayasoLoco
Franchise Player
Joined: 07 Jul 2001
Posts: 16663
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| Posted: Mon Apr 27, 2020 12:36 pm Post subject: |
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| leor_77 wrote: | | activeverb wrote: | | leor_77 wrote: | | LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
It is disappointing, but I'm pretty sure we aren't the only NBA team who did this. Wondering how it leaked, it should be private. |
I don't think it should be private. There should be a publically available list of every company that receives money. That's the only way you can be sure the system is not being abused. |
Yeah, fair enough...Especially after thinking about it some more.
They're going to lose way more than the $4 million with the negative publicity to come from this. |
Buss kids need to sell the team if we are hoping of continuing the legacy of the lakers. Really embarrassing how ballmer embarrassing our front office and owners currently |
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Laker's Fan
Franchise Player
Joined: 27 Jun 2002
Posts: 12904
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| Posted: Mon Apr 27, 2020 12:40 pm Post subject: |
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| yinoma2001 wrote: | | Yeah. This is why Ballmer is trying to make inroads in LA, however futile that may appear. Buss family simply cannot compete with his multi billions. But we've known this for a while. |
I think there are greater chances Jeanie sells in the not too distant future than most believe. Their financial incentives are to do so with interest moving to the younger siblings as heirs pass. That was apparently complicated by interest held by her mother, who passed not too long ago. You also don't want to wait until Ballmer has a mega-facility in Inglewood. |
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venturalakersfan
Retired Number
Joined: 14 Apr 2001
Posts: 144551
Location: The Gold Coast
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| Posted: Mon Apr 27, 2020 1:24 pm Post subject: |
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Jeanie can’t sell, she needs other members of the family to agree with her. I can see Joey and Jesse not wanting to sell, they haven’t had their time at the helm.
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RIP mom. 11-21-1933 to 6-14-2023. |
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activeverb
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Joined: 17 Jun 2006
Posts: 37470
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| Posted: Mon Apr 27, 2020 1:44 pm Post subject: |
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| PayasoLoco wrote: | | leor_77 wrote: | | activeverb wrote: | | leor_77 wrote: | | LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
It is disappointing, but I'm pretty sure we aren't the only NBA team who did this. Wondering how it leaked, it should be private. |
I don't think it should be private. There should be a publically available list of every company that receives money. That's the only way you can be sure the system is not being abused. |
Yeah, fair enough...Especially after thinking about it some more.
They're going to lose way more than the $4 million with the negative publicity to come from this. |
Buss kids need to sell the team if we are hoping of continuing the legacy of the lakers. Really embarrassing how ballmer embarrassing our front office and owners currently |
I don't think the loan is going to be a big deal. The Lakers didn't do anything illegal. The loan program was just set up poorly. I doubt many NBA fans will care that much.
On the other point, my guess is 10 years from now, they will still be fans on Lakerground saying the Buss family has no choice but to sell the team immediately, just like fans were doing 10 years ago. |
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PayasoLoco
Franchise Player
Joined: 07 Jul 2001
Posts: 16663
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| Posted: Mon Apr 27, 2020 3:50 pm Post subject: |
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| activeverb wrote: | | PayasoLoco wrote: | | leor_77 wrote: | | activeverb wrote: | | leor_77 wrote: | | LakerSD wrote: | https://twitter.com/kevinarnovitz/status/1254798082329329664?s=21
| Quote: | | "The @Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic" |
Yikes, not a good look. |
It is disappointing, but I'm pretty sure we aren't the only NBA team who did this. Wondering how it leaked, it should be private. |
I don't think it should be private. There should be a publically available list of every company that receives money. That's the only way you can be sure the system is not being abused. |
Yeah, fair enough...Especially after thinking about it some more.
They're going to lose way more than the $4 million with the negative publicity to come from this. |
Buss kids need to sell the team if we are hoping of continuing the legacy of the lakers. Really embarrassing how ballmer embarrassing our front office and owners currently |
I don't think the loan is going to be a big deal. The Lakers didn't do anything illegal. The loan program was just set up poorly. I doubt many NBA fans will care that much.
On the other point, my guess is 10 years from now, they will still be fans on Lakerground saying the Buss family has no choice but to sell the team immediately, just like fans were doing 10 years ago. |
10 years ago there wasnt one of the worlds richest man making moves that make the lakers look like an obsolete franchise. Times are changing and the mom and pop shop wont be able to keep up. |
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activeverb
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Joined: 17 Jun 2006
Posts: 37470
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| Posted: Mon Apr 27, 2020 4:14 pm Post subject: |
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| PayasoLoco wrote: |
10 years ago there wasnt one of the worlds richest man making moves that make the lakers look like an obsolete franchise. Times are changing and the mom and pop shop wont be able to keep up. |
People have been saying the Busses can't afford to stay in the league long before Ballmer bought the Clippers. And yet when the season was put on hold, we had two of the biggest stars in the NBA and the best record in the west. So forgive me if I don't worry much about the dooms-day predictions I've been hearing for decades. |
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2019
Franchise Player
Joined: 03 Dec 2014
Posts: 10890
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| Posted: Mon Apr 27, 2020 4:59 pm Post subject: |
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| activeverb wrote: | | PayasoLoco wrote: |
10 years ago there wasnt one of the worlds richest man making moves that make the lakers look like an obsolete franchise. Times are changing and the mom and pop shop wont be able to keep up. |
People have been saying the Busses can't afford to stay in the league long before Ballmer bought the Clippers. And yet when the season was put on hold, we had two of the biggest stars in the NBA and the best record in the west. So forgive me if I don't worry much about the dooms-day predictions I've been hearing for decades. |
We've got a weak FO and IMO our ownership group does think small minded, but end of the day, what you said is 100% correct and why if I were them I would feel great about where they stand amongst owners/management... even if that is shortsighted. |
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Laker's Fan
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Joined: 27 Jun 2002
Posts: 12904
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| Posted: Mon Apr 27, 2020 9:12 pm Post subject: |
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| venturalakersfan wrote: | | Jeanie can’t sell, she needs other members of the family to agree with her. I can see Joey and Jesse not wanting to sell, they haven’t had their time at the helm. |
I understood it was majority rules, meaning you need four to sell. Jim and Johnny sign off. Janie has gone on record that she will follow Jeanie’s lead (and commented on her kids getting nothing because of the succession in the trust). Jeanie holds the cards. |
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RI Laker
Star Player
Joined: 27 Jun 2005
Posts: 7192
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| Posted: Tue Apr 28, 2020 6:21 am Post subject: |
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| Anyone else have a feeling there is a "small" chance that DeRozan makes a play to come here. The combo of one of our guys opting out and the salary cap going up to 116 is enough to get it done salary wise. DeRozan has an option. Maybe he tells the Spurs to trade him to us or he will opt out. What would Pop do? He does like DG and Kuz (they would have to be part of the trade). Throw in our 1st and Cook. |
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Harlemlakerfan
Star Player
Joined: 19 Mar 2014
Posts: 2716
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| Posted: Tue Apr 28, 2020 7:49 am Post subject: |
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| RI Laker wrote: | | Anyone else have a feeling there is a "small" chance that DeRozan makes a play to come here. The combo of one of our guys opting out and the salary cap going up to 116 is enough to get it done salary wise. DeRozan has an option. Maybe he tells the Spurs to trade him to us or he will opt out. What would Pop do? He does like DG and Kuz (they would have to be part of the trade). Throw in our 1st and Cook. |
I have been saying this for months. I just have a funny feeling that he will be a Laker |
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venturalakersfan
Retired Number
Joined: 14 Apr 2001
Posts: 144551
Location: The Gold Coast
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| Posted: Tue Apr 28, 2020 8:01 am Post subject: |
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| RI Laker wrote: | | Anyone else have a feeling there is a "small" chance that DeRozan makes a play to come here. The combo of one of our guys opting out and the salary cap going up to 116 is enough to get it done salary wise. DeRozan has an option. Maybe he tells the Spurs to trade him to us or he will opt out. What would Pop do? He does like DG and Kuz (they would have to be part of the trade). Throw in our 1st and Cook. |
The chances of the salary cap dropping are much more likely than going up. The question is how far will it drop?
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RIP mom. 11-21-1933 to 6-14-2023. |
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RI Laker
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Joined: 27 Jun 2005
Posts: 7192
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venturalakersfan
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Joined: 14 Apr 2001
Posts: 144551
Location: The Gold Coast
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| Posted: Tue Apr 28, 2020 9:31 am Post subject: |
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| RI Laker wrote: | | I thought (I could be wrong) the league already announced the cap increase (the losses in China were not as significant as first reported). The salary cap will be less than what was previously projected but still higher than this year. |
They won’t know until after June 30, that is the reason for the moratorium, to do the end of season accounting. They did have an estimate for next season but that was before they lost at least 2 months of the season. And an estimated $500 mil from China. I would be surprised if the networks don’t ask for money back due to their loss of revenue. As with the giant revenue increase in 2016, the question will be if they take the cap hit in 2021 or smooth it over several seasons. That is why AD might be better off extending his current contract instead of opting out, he could potentially make more by extending. Eric wrote a great article on the potential cap issues that is stickied here.
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RI Laker
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Posts: 7192
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| Posted: Tue Apr 28, 2020 9:34 am Post subject: |
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| Thanks! |
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yinoma2001
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Joined: 19 Jun 2010
Posts: 119487
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| Posted: Tue Apr 28, 2020 9:35 am Post subject: |
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At some point, the Buss family will just get offers that are too good to turn down. How much do they get a year?
How much would they get if they sold the team?
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venturalakersfan
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Joined: 14 Apr 2001
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Location: The Gold Coast
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| Posted: Tue Apr 28, 2020 9:41 am Post subject: |
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I think that they could get $3-4 billion. Not an accountant but I think capital gain tax would be based on the value of the team when Dr. Buss passed. It sounds like it would be split 6 ways with the passing of Jerry’s ex but there could be provisions for that.
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LakerSD
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Joined: 10 Nov 2016
Posts: 23804
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| Posted: Tue Apr 28, 2020 10:09 am Post subject: |
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| yinoma2001 wrote: | At some point, the Buss family will just get offers that are too good to turn down. How much do they get a year?
How much would they get if they sold the team? |
I would say close to $4 Billion.
If AEG doesn’t bite, I hope someone like Bezos buys the team.
Rumors are he is interested in owning an NFL team, but the Lakers operate like a top 3 valuation NFL team. Might be better than buying a middle of the road NFL team. |
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2019
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Joined: 03 Dec 2014
Posts: 10890
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| Posted: Tue Apr 28, 2020 7:07 pm Post subject: |
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| LakerSD wrote: | | yinoma2001 wrote: | At some point, the Buss family will just get offers that are too good to turn down. How much do they get a year?
How much would they get if they sold the team? |
I would say close to $4 Billion.
If AEG doesn’t bite, I hope someone like Bezos buys the team.
Rumors are he is interested in owning an NFL team, but the Lakers operate like a top 3 valuation NFL team. Might be better than buying a middle of the road NFL team. |
Over $4B. Lakers are such a novelty/trophy brand that it would be a feeding frenzy amongst the world's wealthiest. Owning the Lakers sounds infinitely more gratifying than owning the Rockets, Clippers or Warriors, for example. |
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