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Wizards-Grizzlies postgame wrapup

By Gene Wang  |  February 25, 2010; 12:01 AM ET
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Next: Robert Pollin discusses Gilbert Arenas case


GENE WANG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Posted by: lilhollywood10 | February 25, 2010 12:36 AM | Report abuse

After further research, it is apparent that Ted Leonsis did not misspeak when he said he already owns a share in the Wizards and the Verizon Center. (44%)

And yes, to all that do not understand, WS&E LP is the holding company that Pollin set up that owns everything. Lincoln Holdings owned by Ted Leonsis bought into WS&E LP and has increased its share to the current 44%.

Included in that 44% is the outright ownership of the Capitals and the Mystics.

The fact that WS&E LP is the holding company that Lincoln Holdings has a 44% share means in fact that Ted already has a 44% stake in everything he dosen't already own outright.

The Wizards and the VZ could be valued as high as 4-5 hundred million of which Ted already has a 44% share.

By my calculations boys and girls, that means that the Pollins are owed about $280 mil for their 56% of the Wiz and the VZ plus any other entities like Ticketmaster and others that may be a part of WS&E LP.

Those of you that think I am pulling these numbers out of my royal behind, do the math based upon factual research and not what you think something is worth.


Posted by: LarryInClintonMD | February 25, 2010 3:13 AM | Report abuse

Furthermore, when the NBA/Professional sports and Forbes rank franchises the team and the facility is always considered together with operating expenses and everything thereto.

The Washington Redskins was the first professional franchise to be valued at $1 billion. They just may have been knocked out of the #1 slot with the new venue in Dallas Texas. Hate dem Cowboys.

However, until this year, for the last four years the #1 NBA franchise value was the New York Knicks. Surpassing them this year is the Los Angeles Lakers coming in around $600 million.

The Washington franchise this year comes in around $350 million. Keep in mind that these numbers include the team and the venue and operating incomes, pros and minuses.

Now when a team goes up for sale as is the case currently with the Wizs and the Bobcats, the sale price could be and often is different than the valued price set by the League and Forbes.

The valued price is what I have been referring to in my blogs. Folks think I am just making stink up, but I am not.

The Pollins are over a barrel because time will tell when the appraisal comes in that it is highly likely that Mr. Leonsis has already offered them more than a fair price.

In the Bobcats case, Mr. Johnson is going to take a loss on what he paid (around $300 mil) if the valued price is not exceeded by the buyer. For the valued price now for the Cats is less than what he paid for them.

He is willing to accept less, because the franchise is loosing millions. Michael Jordan or the guy from Houston will soon be, he hopes, the new purchaser of the Charlotte Bobcats.

The guy that keep saying that Ted will pay 2-3 hundred mil for the VZ is the really the one pulling schictz outa his computer.


Posted by: LarryInClintonMD | February 25, 2010 3:51 AM | Report abuse

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