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View Full Version : Time for some real news........Jordan may be the next owner of the Suns


NYCdog
03-08-2004, 07:17 PM
Info courtesy of my source at sportsbusinessdaily.com......

Suns Owner Jerry Colangelo has hired Lehman Bros. to find a buyer for the team, indicating that his preference would be to find someone who would first take a minority stake in the Suns and then assume full ownership over a six-to 10-year period.

Other sources indicated that the team is for sale and that a prospectus has been circulating a few for weeks. Colangelo is facing two onrushing issues: his own retirement and inheritance taxes as many family-owned teams, including the Falcons and Jets, have been sold in part because of estate-planning concerns. Lehman Bros. arranged the sale of the Nets earlier this year for $300M, an amount Lehman is sure to try to match, if not exceed with the Suns

Chicago Tribune columnist Sam Smith's report that indicated Michael Jordan is interested in buying the team.

In his column, Smith wrote, "The latest leaguewide rumor has the Suns cutting payroll for an eventual sale and Jordan moving in".

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This could be a big offseason for Phoenix. Tons of cap money, Kobe may end up playing here to go along with the current bright young nucleus thay already have and now this.............WOW!!!!!

Nash13
03-09-2004, 02:12 AM
I wouldn't want to sell the suns if i owned them. They have nothing but good things ahead of them. They got questionably the best small forward in Marion, a future MVP candidate in Stoudamire, possibly a future star in Jacobson, McDyess, and a ton of salary cap to sign a good point guard.

NYCdog
03-09-2004, 10:22 AM
Thats true Nash13, If I owned the Suns as well, I wouldnt sell them now.

But you have to put yourself in Colangelo's shoes to see his ulterior motive for selling........

What is known is that Colangelo wants to retire from the sports bizz soon. So selling the team will more then likely be his last big payday. So if this is going to be his last big payday, why not try to make it an even bigger one........go out with one last bang.

This is Colangelo's way at raising the value of the team before he sells full control of it. If he were to sell minority stake in the Suns to Jordan, the overall sale value of the team will sky-rocket due just having the presence of Jordan alone.

So when Colangelo goes to sell the remaining controlling interest he has in the team then, he stands at making one last huge profit out of the sale before he retires in the land of retirees, Phoenix.

To me, this is just one last ploy by Colangelo to get big bucks by increasing the value of the team and then selling.

But I have to admit, its a very smart plan.........and if he manages to get Jordan to take a stake in the team, it will payoff huge dividends in the end for Colangelo.