Full slideshow here:
http://www.forbes.com/pictures/mli45emhdf/20-utah-jazz/
Jazz are valued at $850 million, 20th in the league. Not bad for a team that hasn't had playoff success in the last 6-7 years.
Latest Forbes NBA Valuation
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How much did LHM buy the Jazz for?
"Miller became a co-owner of the Utah Jazz when he purchased a 50% interest in the team on April 11, 1985 for $9.5 million. On June 16, 1986, he purchased the remaining 50% from Sam Battistone for $17.3 million."
So 26.8 million is now 850 million in 30 years. That is a profit of 27.5 million every year or over 100% APR.
"Miller became a co-owner of the Utah Jazz when he purchased a 50% interest in the team on April 11, 1985 for $9.5 million. On June 16, 1986, he purchased the remaining 50% from Sam Battistone for $17.3 million."
So 26.8 million is now 850 million in 30 years. That is a profit of 27.5 million every year or over 100% APR.
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But they only realize that profit if they sell the team and get that amount.
Assuming they want to keep the Jazz in the family and not sell it, the more interesting number is the operating income, which Forbes lists at $33M for last season.
Not too shabby.
Assuming they want to keep the Jazz in the family and not sell it, the more interesting number is the operating income, which Forbes lists at $33M for last season.
Not too shabby.
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I hope they don't get greedy and sale the Jazz to buyers in Seattle, that would break my heart...
Ingles is cooked.
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Dry Fly wrote:How much did LHM buy the Jazz for?
"Miller became a co-owner of the Utah Jazz when he purchased a 50% interest in the team on April 11, 1985 for $9.5 million. On June 16, 1986, he purchased the remaining 50% from Sam Battistone for $17.3 million."
So 26.8 million is now 850 million in 30 years. That is a profit of 27.5 million every year or over 100% APR.
It was probably a risk at the time of purchasing, considered they were/are a small market. The league was definitely on the turnaround thanks to Bird and Magic, but clearly not the money generating machine it is now.He bought at the right time.
NickAnderson wrote:
How old are you, just curious.
by gomeziee on 21 Jul 2013 00:53
im 20, and i did grow up watching MJ play in the 90's.
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dautjazz wrote:Dry Fly wrote:How much did LHM buy the Jazz for?
"Miller became a co-owner of the Utah Jazz when he purchased a 50% interest in the team on April 11, 1985 for $9.5 million. On June 16, 1986, he purchased the remaining 50% from Sam Battistone for $17.3 million."
So 26.8 million is now 850 million in 30 years. That is a profit of 27.5 million every year or over 100% APR.
It was probably a risk at the time of purchasing, considered they were/are a small market. The league was definitely on the turnaround thanks to Bird and Magic, but clearly not the money generating machine it is now.He bought at the right time.
Yeah, some risk but less than 10 million to own half of a NBA franchise? I can't think of a better way to spend 10 million.
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Dry Fly wrote:dautjazz wrote:Dry Fly wrote:How much did LHM buy the Jazz for?
"Miller became a co-owner of the Utah Jazz when he purchased a 50% interest in the team on April 11, 1985 for $9.5 million. On June 16, 1986, he purchased the remaining 50% from Sam Battistone for $17.3 million."
So 26.8 million is now 850 million in 30 years. That is a profit of 27.5 million every year or over 100% APR.
It was probably a risk at the time of purchasing, considered they were/are a small market. The league was definitely on the turnaround thanks to Bird and Magic, but clearly not the money generating machine it is now.He bought at the right time.
Yeah, some risk but less than 10 million to own half of a NBA franchise? I can't think of a better way to spend 10 million.
Yeah, but remember that just 6 years before the league was in big danger.It's easy to look back, but it's like buying Hyundai Motor Comapany 20 years ago, most people would of cringed, but now they are the 5th largest auto manufacturer in the world.
NickAnderson wrote:
How old are you, just curious.
by gomeziee on 21 Jul 2013 00:53
im 20, and i did grow up watching MJ play in the 90's.