Forbes: LeBron Can Purchase Part of Knicks

[OooSplendiforous]

Several months ago Cablevision spun the Knicks, Rangers, MSG itself any other sports related ventures into a separate publicly traded entity. Without violating the CBA LeBron can legally be an owner of the Knicks while also being one of our players. Essentially he could reap the financial benefits (increased ticket sales, jersey sales, concession stand sales, Knick sponsorships etc) the Knicks receive for himself. He would be responsible for his own destiny and could make more this way than in any other team.

http://blogs.forbes.com/sportsmoney/2010/05/the-new-york-knicks-will-get-lebron-james/

[OooSplendiforous]

and I'll address this before somebody trying to be a wise guy brings up this argument: "What if he goes to a different team, he could still purchase MSG stock just like anyone else, he'll own part of the Knicks and play for a different team". The answer is yes, HOWEVER he wouldn't reap the benefits of a skyrocketing stock price because he wouldn't be playing for us, therefore no buzz would be generated and probably no significant increases in market price. The stock currently trades at $22 a share, if played for the Knicks one could expect a price of $50 a share, he'd double his money immediately. However if he didn't play for us and purchased our stock, why would the $22 current price fluctuate much? Chris Bosh doesn't bring in sponsors...

[OooSplendiforous]

ohhh everyones quiet now, but when bad things are happening to us the vultures are out.... ok

[Donald Kaufman]

We need more LeBron threads.

[crzy]

I don't see how this gives the Knicks an advantage, as Lebron can also buy a portion of any other team he wants to go to.

[Sofia]

Maybe everyone is sick of the Lebron threads and will only 'discuss' all things related to Lebron in the lebron thread, where it is supposed to be done?

[dm17415]

I don't see how this gives the Knicks an advantage, as Lebron can also buy a portion of any other team he wants to go to.

Knicks are the only publicly listed team.

[OooSplendiforous]

I don't see how this gives the Knicks an advantage, as Lebron can also buy a portion of any other team he wants to go to.

the CBA prohibits a player from being an owner of their team at the same time. Since the Knicks are a publicly traded stock, LeBron could double his money in 1 day. He could purchase $100 million in Knick stock July 7th, sign July 8th and have made $200 million in 24 hours...legally.

[JackFinn]

mmmeccaaaaaaaa

[crzy]

I don't see how this gives the Knicks an advantage, as Lebron can also buy a portion of any other team he wants to go to.

the CBA prohibits a player from being an owner of their team at the same time. Since the Knicks are a publicly traded stock, LeBron could double his money in 1 day. He could purchase $100 million in Knick stock July 7th, sign July 8th and have made $200 million in 24 hours...legally.

So there can be no player-owners? That doesn't make sense.

If the CBA doesn't allow player owners, then the CBA would prohibit Lebron from purchasing Knick stock

[Nutty Nats Fan]

I don't see how this gives the Knicks an advantage, as Lebron can also buy a portion of any other team he wants to go to.

the CBA prohibits a player from being an owner of their team at the same time. Since the Knicks are a publicly traded stock, LeBron could double his money in 1 day. He could purchase $100 million in Knick stock July 7th, sign July 8th and have made $200 million in 24 hours...legally.

Then he goes to prison for insider trading?

[OooSplendiforous]

I don't see how this gives the Knicks an advantage, as Lebron can also buy a portion of any other team he wants to go to.

the CBA prohibits a player from being an owner of their team at the same time. Since the Knicks are a publicly traded stock, LeBron could double his money in 1 day. He could purchase $100 million in Knick stock July 7th, sign July 8th and have made $200 million in 24 hours...legally.

So there can be no player-owners? That doesn't make sense

Can't even be player-executives. Why do you think Michael Jordan had to give up his title and position with the Wizards before signing with them as a player.

[crzy]

I don't see how this gives the Knicks an advantage, as Lebron can also buy a portion of any other team he wants to go to.

the CBA prohibits a player from being an owner of their team at the same time. Since the Knicks are a publicly traded stock, LeBron could double his money in 1 day. He could purchase $100 million in Knick stock July 7th, sign July 8th and have made $200 million in 24 hours...legally.

Then he goes to prison for insider trading?

They'd never be able to prove insider trading

[crzy]

Can't even be player-executives. Why do you think Michael Jordan had to give up his title and position with the Wizards before signing with them as a player.

Can you give me proof of this, because I don't believe it.

[#1 pick]

Forbes doesn't know the CBA like they know the market.

[Nutty Nats Fan]

They'd never be able to prove insider trading

You never know. The circumstantial evidence would be overwhelming.

[OooSplendiforous]

Forbes doesn't know the CBA like they know the market.

The Knicks did this in january in anticipation for James. I'm sure our owner James Dolan, one of the richest guys in America made sure his execs did the research. Not only that, the person who wrote this article for Forbes, is their EDITOR. Editor's do not release a story before they check facts... This isn't Dime magazine, it's one of the most highly respected journals around the world, the proper research was done.

[OooSplendiforous]

They'd never be able to prove insider trading

You never know. The circumstantial evidence would be overwhelming.

And...what if he purchased the stock today? Signing July 8th. How could anyone say that he had his mind made up several months in advance? There are ways to get around it. Accept it guys...

[96 Til Infiniti]

IF this is true, it essentially ends all the doubt/questions/threads about where he's going to sign.

[alucryts]

ya i have serious doubts that this will be allowed. it is basically a way to give himself money under the table. i seriously doubt he is able to do this.