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chipc3

Robert Pera issued subpoena from SEC

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30 minutes ago, Dwash said:

Lets hope he is forced to sell everything he owns.

That's a bit harsh. A person is innocent until proven guilty. All that has happened so far is a formal announcement that an investigation is going on. There has been no indictment much less a verdict. 

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What do people want?? I don’t get the pera criticism. He spends a lot of money in a small market. Why do we care if he is here or not. We should have our front office to run the show

We have a high payroll and spend on players and facilities

My only criticism is who he trust to run the show

parsons for example is a success in terms of wanting to invest 94m - how that investment performs is on his management team in this case (Wallace Hollinger etc )

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12 minutes ago, VikingWarrior said:

What do people want?? I don’t get the pera criticism. He spends a lot of money in a small market. Why do we care if he is here or not. We should have our front office to run the show

We have a high payroll and spend on players and facilities

My only criticism is who he trust to run the show

parsons for example is a success in terms of wanting to invest 94m - how that investment performs is on his management team in this case (Wallace Hollinger etc )

I agree but since Wallace was put in place by Pera and hasn't been replaced despite numerous failings lately it does fall on Pera's shoulders to take heat for the state of the franchise. 

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1 hour ago, VikingWarrior said:

What do people want?? I don’t get the pera criticism. He spends a lot of money in a small market. Why do we care if he is here or not. We should have our front office to run the show

We have a high payroll and spend on players and facilities

My only criticism is who he trust to run the show

parsons for example is a success in terms of wanting to invest 94m - how that investment performs is on his management team in this case (Wallace Hollinger etc )

People will always complain no matter what. We could have 3 straight 70 win seasons with 3 straight championships and people would complain. 

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C'mon Chip don't kill my vibe......in all seriousness, this is just a formality. I don't think it will affect anything in the near future. I'm sure if they have solid evidence then that may influence Pera's decision on selling the team. 

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37 minutes ago, They Call Me Mr. Klondike said:

People will always complain no matter what. We could have 3 straight 70 win seasons with 3 straight championships and people would complain. 

Let it happen. I promise not to complain.

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2 hours ago, VikingWarrior said:

What do people want?? I don’t get the pera criticism. He spends a lot of money in a small market. Why do we care if he is here or not. We should have our front office to run the show

We have a high payroll and spend on players and facilities

My only criticism is who he trust to run the show

parsons for example is a success in terms of wanting to invest 94m - how that investment performs is on his management team in this case (Wallace Hollinger etc )

Uhhh yeah, you just said you dont understand the criticism then broke down what most people hate about him in the same post. He is the only person who can clean up the front office clown show.

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2 hours ago, They Call Me Mr. Klondike said:

People will always complain no matter what. We could have 3 straight 70 win seasons with 3 straight championships and people would complain. 

That’s not true at all.

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Anyone else getting a tad nervous with Seattle fixing it’s stadium issue about the time the Grizz lease becomes easier to get out of and ownership issues becoming less secure by the month?

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7 minutes ago, Back2Grizzness said:

Anyone else getting a tad nervous with Seattle fixing it’s stadium issue about the time the Grizz lease becomes easier to get out of and ownership issues becoming less secure by the month?

A little bit.

Ok, a lot.  

This DOES sound like the NBA equivalent of the movie Major League.

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3 hours ago, Back2Grizzness said:

Anyone else getting a tad nervous with Seattle fixing it’s stadium issue about the time the Grizz lease becomes easier to get out of and ownership issues becoming less secure by the month?

 

2 hours ago, ALT GRIND said:

A little bit.

Ok, a lot.  

This DOES sound like the NBA equivalent of the movie Major League.

a lil but being that the NBA is more focused on expanding I would like to hope they would be more interested in giving them a team instead of taking ours..w have had a terrible season in the smallest market in the NBA but there are still 3 teams (nets,pacers,hawksz) with worst attendance numbers than Memphis.

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4 hours ago, Back2Grizzness said:

Anyone else getting a tad nervous with Seattle fixing it’s stadium issue about the time the Grizz lease becomes easier to get out of and ownership issues becoming less secure by the month?

"Every day itsa getting closer; going faster than a roller coaster."

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10 hours ago, Back2Grizzness said:

Anyone else getting a tad nervous with Seattle fixing it’s stadium issue about the time the Grizz lease becomes easier to get out of and ownership issues becoming less secure by the month?

Nope

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59 minutes ago, MemphisX said:

Nope

When will people finally accept the fact that the Grizzlies are not leaving? I swear this city thinks so poorly of itself.

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20 hours ago, Back2Grizzness said:

Anyone else getting a tad nervous with Seattle fixing it’s stadium issue about the time the Grizz lease becomes easier to get out of and ownership issues becoming less secure by the month?

I don’t know about how less secure the lease is it’s the FedEx Forum. It’s pretty hard to break away for the foreseeable future. There is a clause in the contract that allows the local owners to buy out the team if the majority owner tries to move for the next five years at the original purchase price. 

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10 hours ago, Thomas said:

When will people finally accept the fact that the Grizzlies are not leaving? I swear this city thinks so poorly of itself.

Consistent Negativity is a huge part of the problem within this city.  

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2 hours ago, GrizzTigerFan said:

Consistent Negativity is a huge part of the problem within this city.  

Very true.

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5 hours ago, GrizzTigerFan said:

Consistent Negativity is a huge part of the problem within this city.  

Waiting for someone to say "NO IT ISN'T !" ... 

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I talkd to a minority owner today and he brought up a new angle on this story. It is possible that if Pera is in big trouble he’d turn to the minority owners to buy out his interest at book value. 

Its not likely but it is something to think about.

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4 hours ago, chipc3 said:

I talkd to a minority owner today and he brought up a new angle on this story. It is possible that if Pera is in big trouble he’d turn to the minority owners to buy out his interest at book value. 

Its not likely but it is something to think about.

The timing of these actions against Ubiquiti are really suspicious. I know little about the finances but its possible that the team will be taken over by some very devious characters.

Is there any info on the Kaplan/Straus buy/sell clause? Has it been triggered by one or both of them?

So, what? Now, we are in the negotiation period. My guess is that Pera is precluded from selling to anyone else at this time.

What is the book value?

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1 hour ago, tangogriz said:

The timing of these actions against Ubiquiti are really suspicious. I know little about the finances but its possible that the team will be taken over by some very devious characters.

Is there any info on the Kaplan/Straus buy/sell clause? Has it been triggered by one or both of them?

So, what? Now, we are in the negotiation period. My guess is that Pera is precluded from selling to anyone else at this time.

What is the book value?

The option has been exercised by either Strauss, Kaplan or both according to news reports. The owners are in, and very near the end of. The negotiation period but that can be extended if both sides agree. 

Pera can sell his interest but it is unlikely that would have any effect on the option to purchase those shares by Kaplan/Strauss. The risk would/should be reflected in the sales price.  

I don’t know the book value of the franchise but is would be far less than the negotiated sales price.

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