1B4IDie Posted October 21, 2010 Share Posted October 21, 2010 (edited) There haven't been any real talk between the NFL and Magic Johnson but PFT (yes they're horrible rumor mongers) says that Magic Johnson is getting his money together and would be interested in bringing an NFL team to LA. http://profootballtalk.nbcsports.com/2010/10/20/magic-johnson-wants-to-bring-an-nfl-team-back-to-la/ The reason this worries me is there hasn't been any realistic ownership groups out there that could put together more than 1 Billion dollars to buy the Bills and move them to LA (You have to think about 900 mil to buy the team then atleast 500 mil to build a stadium) But some people might not realize Magic is very successful business person, He runs Magic Johnson Enterprises, a company that has a net worth of $700 million. He owns his lines of movie theaters got into Starbucks early, has a food contracting business and has been able to build 100s of millions of dollars of net worth. According to the article he now has about 100 million liquid. 100 million in cash means you can get financed for much more. Buying an NFL team is a safe bet any big money investment group would help finance a purchase. Its as much a sure thing as any investment, but they're just not going to hand out money they want a successful Business person. Magic Johnson with 100 million in cash would be a realistic start of an owner ship group. http://en.wikipedia.org/wiki/Magic_Johnson#Media_figure_and_business_interests Daniel Snyder finacied most of his purchase of the Redskins and he was less successfull than Magic. In May 1999, Snyder purchased the Redskins and Jack Kent Cooke Stadium for $800 million following the death of previous owner Jack Kent Cooke[citation needed]. At the time, it was the most expensive transaction in sporting history[citation needed]. The deal was financed largely through borrowed money, including $340 million borrowed from Société Générale and $155 million debt assumed on the stadium[citation needed]. Annual loan servicing costs are an estimated $50 million http://en.wikipedia.org/wiki/Daniel_Snyder I know this early but this is scary. This could be the first real threat in the creation of the LA Bills, (I propose LA Quakes) Edited October 21, 2010 by Levitre + Wang = Wood Link to comment Share on other sites More sharing options...
erynthered Posted October 21, 2010 Share Posted October 21, 2010 I dont get it. Why worry about something you cant control? Link to comment Share on other sites More sharing options...
Dorkington Posted October 21, 2010 Share Posted October 21, 2010 Thought the stadium in LA was already being built? Link to comment Share on other sites More sharing options...
Doc Posted October 21, 2010 Share Posted October 21, 2010 The Jags will be the next team to move. Link to comment Share on other sites More sharing options...
DaBills51 Posted October 21, 2010 Share Posted October 21, 2010 Why do people continue to ignore the existence of Jeremy Jacobs?? Here is an excerpt from one of my previous posts regarding Jacobs: "I don't understand why so many people discredit Jeremy Jacobs as a potential buyer. Currently, his net worth would place him 4th highest among NFL owners, surpassing even Jerry Jones. While Jacobs hasn't been the most popular man in Boston, he has a proven track record of maximizing revenue as an owner, and from a purely investment standpoint, it wouldn't be a bad move on his part. While Delaware North is already the current concession vendor of the Buffalo Bills, as the owner of the Bills he would get a much greater return through concessions, and I'm sure he would be able to increase suite sales as well. The man has made a killing off the Boston Bruins, from his ownership of the team to the selling of concessions and his stake in the New England Sports Network, he has a proven track record of success though his investments in sports. Not to mention, the past couples of years have shown that Jacobs is investing more and more into new ventures, and is not one to merely rest on his laurels." Link to comment Share on other sites More sharing options...
DIE HARD 1967 Posted October 21, 2010 Share Posted October 21, 2010 (edited) I will never understand why so many fans worry about the Bills leaving Buffalo. It seems to me that every team that left a city was replaced by another owner or team. Cleveland,Oakland,Baltimore,St Louis,Houston,Al Davis moved back to Oakland. Why,no support for a losing football team in LA. If the Browns can lose a team, get one back,so can Buffalo I am telling you guys,"If" the Bills ever did move........ Jacksonville would move to Buffalo in a heartbeat.( Just my opinion) That's right, Trent Edwards could be the starter! Edited October 21, 2010 by DIE HARD 1967 Link to comment Share on other sites More sharing options...
zow2 Posted October 21, 2010 Share Posted October 21, 2010 I'm not even to going to get started in the "Bills moving to LA" talk again. I'll worry about it, if/when it seems like its a realistic possibility. Here's one thing i do know. If the Bills ever leave town, there will never be NFL football again in Buffalo...for a million different reasons. This isn't a Cleveland/Baltimore/Houston/St. Louis scenario. The fact is that you can't let this franchise leave, period. Link to comment Share on other sites More sharing options...
GOBILLS78 Posted October 21, 2010 Share Posted October 21, 2010 I dont get it. Why worry about something you cant control? Those are exactly the things you do worry about. Link to comment Share on other sites More sharing options...
SuperKillerRobots Posted October 21, 2010 Share Posted October 21, 2010 There haven't been any real talk between the NFL and Magic Johnson but PFT (yes they're horrible rumor mongers) says that Magic Johnson is getting his money together and would be interested in bringing an NFL team to LA. http://profootballtalk.nbcsports.com/2010/10/20/magic-johnson-wants-to-bring-an-nfl-team-back-to-la/ The reason this worries me is there hasn't been any realistic ownership groups out there that could put together more than 1 Billion dollars to buy the Bills and move them to LA (You have to think about 900 mil to buy the team then atleast 500 mil to build a stadium) But some people might not realize Magic is very successful business person, He runs Magic Johnson Enterprises, a company that has a net worth of $700 million. He owns his lines of movie theaters got into Starbucks early, has a food contracting business and has been able to build 100s of millions of dollars of net worth. According to the article he now has about 100 million liquid. 100 million in cash means you can get financed for much more. Buying an NFL team is a safe bet any big money investment group would help finance a purchase. Its as much a sure thing as any investment, but they're just not going to hand out money they want a successful Business person. Magic Johnson with 100 million in cash would be a realistic start of an owner ship group. http://en.wikipedia.org/wiki/Magic_Johnson#Media_figure_and_business_interests Daniel Snyder finacied most of his purchase of the Redskins and he was less successfull than Magic. In May 1999, Snyder purchased the Redskins and Jack Kent Cooke Stadium for $800 million following the death of previous owner Jack Kent Cooke[citation needed]. At the time, it was the most expensive transaction in sporting history[citation needed]. The deal was financed largely through borrowed money, including $340 million borrowed from Société Générale and $155 million debt assumed on the stadium[citation needed]. Annual loan servicing costs are an estimated $50 million http://en.wikipedia.org/wiki/Daniel_Snyder I know this early but this is scary. This could be the first real threat in the creation of the LA Bills, (I propose LA Quakes) No one can leverage $100mm into $1.5b, which is what it would take to buy the team, move them, and then build a stadium (at the least). An ownership team would need at least $500mm to get that loan. Not saying it can't happen, just that you'd need 5 Magic Johnson's to make that purchase. Link to comment Share on other sites More sharing options...
The Senator Posted October 21, 2010 Share Posted October 21, 2010 (edited) The reason this worries me is there hasn't been any realistic ownership groups out there that could put together more than 1 Billion dollars to buy the Bills and move them to LA (You have to think about 900 mil to buy the team then atleast 500 mil to build a stadium) I could be mistaken, but I think there's also an NFL-imposed 'franchise-relocation fee' on top of the purchase price and stadium costs (implemented to stop guys like Art Modell, Al Davis, etc., from moving a franchise for personal financial gain). But some people might not realize Magic is very successful business person, He runs Magic Johnson Enterprises, a company that has a net worth of $700 million. He owns his lines of movie theaters got into Starbucks early, has a food contracting business and has been able to build 100s of millions of dollars of net worth. According to the article he now has about 100 million liquid. Well hey, that only leaves him short about $1.5 billion - but what's a few shekels, eh? Worry not - the Bills will still be playing in Western New York long after Ralph Wilson Stadium lies in crumbled ruins. Edited October 21, 2010 by The Senator Link to comment Share on other sites More sharing options...
NyQuil Posted October 21, 2010 Share Posted October 21, 2010 Just stop with the LA business. They tried and failed. Twice. Link to comment Share on other sites More sharing options...
erynthered Posted October 21, 2010 Share Posted October 21, 2010 Those are exactly the things you do worry about. Then you must be a worrisome nervous wreck with what life has to offer you on a daily basis. It must be fun going through life like that. Link to comment Share on other sites More sharing options...
Van_phelaN1 Posted October 21, 2010 Share Posted October 21, 2010 It looks like Magic Johnson has no worries what so ever about living a long healthy life if he is going to invest in a football team. Link to comment Share on other sites More sharing options...
BEAST MODE BABY! Posted October 21, 2010 Share Posted October 21, 2010 The Jags will be the next team to move. +1,000,000 Why do you people keep on worrying about the Bills? If you want to worry, at least wait until after Jacksonville is moved. Oi. Link to comment Share on other sites More sharing options...
jr1 Posted October 21, 2010 Share Posted October 21, 2010 I think if the team moves it will be to Toronto. LA failed with the Chargers, Raiders & Rams. They don't have the stomach for football Link to comment Share on other sites More sharing options...
Mr. WEO Posted October 21, 2010 Share Posted October 21, 2010 There haven't been any real talk between the NFL and Magic Johnson but PFT (yes they're horrible rumor mongers) says that Magic Johnson is getting his money together and would be interested in bringing an NFL team to LA. http://profootballtalk.nbcsports.com/2010/10/20/magic-johnson-wants-to-bring-an-nfl-team-back-to-la/ The reason this worries me is there hasn't been any realistic ownership groups out there that could put together more than 1 Billion dollars to buy the Bills and move them to LA (You have to think about 900 mil to buy the team then atleast 500 mil to build a stadium) But some people might not realize Magic is very successful business person, He runs Magic Johnson Enterprises, a company that has a net worth of $700 million. He owns his lines of movie theaters got into Starbucks early, has a food contracting business and has been able to build 100s of millions of dollars of net worth. According to the article he now has about 100 million liquid. 100 million in cash means you can get financed for much more. Buying an NFL team is a safe bet any big money investment group would help finance a purchase. Its as much a sure thing as any investment, but they're just not going to hand out money they want a successful Business person. Magic Johnson with 100 million in cash would be a realistic start of an owner ship group. http://en.wikipedia.org/wiki/Magic_Johnson#Media_figure_and_business_interests Daniel Snyder finacied most of his purchase of the Redskins and he was less successfull than Magic. In May 1999, Snyder purchased the Redskins and Jack Kent Cooke Stadium for $800 million following the death of previous owner Jack Kent Cooke[citation needed]. At the time, it was the most expensive transaction in sporting history[citation needed]. The deal was financed largely through borrowed money, including $340 million borrowed from Société Générale and $155 million debt assumed on the stadium[citation needed]. Annual loan servicing costs are an estimated $50 million http://en.wikipedia.org/wiki/Daniel_Snyder I know this early but this is scary. This could be the first real threat in the creation of the LA Bills, (I propose LA Quakes) There is no LA stadium currently under construction. NFL stadiums cost more than $500 million. The majority owner must own 30% of the team. Johnson's not even close. Banks aren't excited to loan a billion+ to an idea that begins with "I'd like to bring an NFL to LA!". Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted October 21, 2010 Share Posted October 21, 2010 "...Jacksonville would move to Buffalo in a heartbeat..." Nice, this wouuld be much faster than rebuilding through the draft... Link to comment Share on other sites More sharing options...
Alphadawg7 Posted October 21, 2010 Share Posted October 21, 2010 No one can leverage $100mm into $1.5b, which is what it would take to buy the team, move them, and then build a stadium (at the least). An ownership team would need at least $500mm to get that loan. Not saying it can't happen, just that you'd need 5 Magic Johnson's to make that purchase. Why does everyone think he only has $100 million liquid to put into an NFL franchise? He got $102 million liquidated from his sale of his ownership in the Lakers and Starbucks, that does no mean thats all the cash he has to put into an NFL franchise. Magic is a very successful business man here in LA and I can assure you that if he decided to be part of an ownership group he could contribute significantly more than $100 million if he chose to. Link to comment Share on other sites More sharing options...
GOBILLS78 Posted October 21, 2010 Share Posted October 21, 2010 (edited) Then you must be a worrisome nervous wreck with what life has to offer you on a daily basis. It must be fun going through life like that. Well, it seems to me that if I were to worry, it would be about potential health issues, not whether or not my new vehicle is a piece of crap, for example. I might have no control over the first scenario, while I could easily just blame myself for the second. Follow? I guess "worry" is too strong a word for variables you can't control. But things you can control should be blamed on nobody but yourself. Edited October 21, 2010 by GOBILLS78 Link to comment Share on other sites More sharing options...
DanInUticaTampa Posted October 21, 2010 Share Posted October 21, 2010 Why do people continue to ignore the existence of Jeremy Jacobs?? Here is an excerpt from one of my previous posts regarding Jacobs: "I don't understand why so many people discredit Jeremy Jacobs as a potential buyer. Currently, his net worth would place him 4th highest among NFL owners, surpassing even Jerry Jones. While Jacobs hasn't been the most popular man in Boston, he has a proven track record of maximizing revenue as an owner, and from a purely investment standpoint, it wouldn't be a bad move on his part. While Delaware North is already the current concession vendor of the Buffalo Bills, as the owner of the Bills he would get a much greater return through concessions, and I'm sure he would be able to increase suite sales as well. The man has made a killing off the Boston Bruins, from his ownership of the team to the selling of concessions and his stake in the New England Sports Network, he has a proven track record of success though his investments in sports. Not to mention, the past couples of years have shown that Jacobs is investing more and more into new ventures, and is not one to merely rest on his laurels." I agree, but I think he would have to sell the Bruins if he wanted to by the bills. Both moneywise and league wise. Link to comment Share on other sites More sharing options...
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