Re: Kevin Durant Has Increased Interest In Owning NBA Team

Moderators: bwgood77, Domejandro

RealGM Wiretap
RealGM
Posts: 102,541
And1: 293
Joined: Mar 19, 2013

Kevin Durant Has Increased Interest In Owning NBA Team 

Post#1 » by RealGM Wiretap » Mon Jan 15, 2018 3:09 pm

Kevin Durant's desire to eventually own an NBA team has increased since joining the Golden State Warriors.


Durant and his business partner Rich Kleiman have taken numerous meetings with existing owners and tech CEOs to gather information about the endeavor.


One source says "this is a genuine goal of his after he retires, to add another African-American in the position of majority ownership."


LeBron James also has interest in owning an NBA franchise while Michael Jordan is the only current African-American majority owner of an NBA team.


"MJ was the first big Nike athlete, the biggest star of his time, but if you don't have the trajectory, that path, that journey, it's going to be hard to do what he did," Durant said. "But you can still affect the NBA and the game of basketball in a different way. You don't have to be an owner. I think it should be more guys in the positions of power like general managers and scouts and coaches. Anything that involves the day-to-day operations of these franchises. I think more players and more experienced players should be in those positions."


Durant has investments in Rubrik (a cloud computing startup), Overtime (a sports technology media startup), the pizza chain Pieology, the app Acorns, Postmates (an on-demand delivery service), and Skydio (an autonomous drone startup).


"We're paid for what we can do on the basketball court and most players know these paychecks are not going to come on the first and 15th for the rest of our lives," he said. "If we get a big sum of money, why not try to help it grow? That's what entrepreneurs and Fortune-500 CEOs do. They get a crop of money and they try to grow it. They get a product and they try to grow it. We're our own business. Why not try to control that and why not try to leverage that to provide a better life after you're done playing? That's what it's about."

Via Chris Haynes/ESPN

broseph13
Senior
Posts: 622
And1: 170
Joined: Jun 11, 2015

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#2 » by broseph13 » Mon Jan 15, 2018 3:33 pm

Nice goal to have, but unlikely to happen...at least not as a majority owner. By the time he retires, pretty much every team will be going for like $2+ billion, so unless he's able to get his net worth to like $3 billion or so, it's unlikely. Of course, he can always be a minority owner like many other celebs are.
IWishIWasHarden
Sixth Man
Posts: 1,567
And1: 159
Joined: Nov 25, 2013

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#3 » by IWishIWasHarden » Mon Jan 15, 2018 3:54 pm

Um because that's called greed. You can do that if you want but put your Bible away. You don't know anything about it.

Very rarely is someone creating something in tech for money Kevin. They create it because they have a passion for doing something that just so happens to make money as well, and a very small percentage of them manage to get wealthy from it.

If it didn't make money then they wouldn't be doing it during the time they're supposed to be at a job. But very rarely is it about the money.
mastermixer
Starter
Posts: 2,220
And1: 2,949
Joined: Oct 29, 2012
 

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#4 » by mastermixer » Mon Jan 15, 2018 5:36 pm

IWishIWasHarden wrote:Um because that's called greed. You can do that if you want but put your Bible away. You don't know anything about it.

Very rarely is someone creating something in tech for money Kevin. They create it because they have a passion for doing something that just so happens to make money as well, and a very small percentage of them manage to get wealthy from it.

If it didn't make money then they wouldn't be doing it during the time they're supposed to be at a job. But very rarely is it about the money.


I don’t even... Nevermind
"Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that." -Martin Luther King Jr
GHOSTofSIKMA
RealGM
Posts: 21,701
And1: 8,006
Joined: Jan 21, 2007
Location: NC
     

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#5 » by GHOSTofSIKMA » Mon Jan 15, 2018 5:50 pm

broseph13 wrote:Nice goal to have, but unlikely to happen...at least not as a majority owner. By the time he retires, pretty much every team will be going for like $2+ billion, so unless he's able to get his net worth to like $3 billion or so, it's unlikely. Of course, he can always be a minority owner like many other celebs are.


Durant doesn't strike me as the type of guy who would want to be a majority owner. too much stress and responsibility. makes more sense for him to have the accountability of a minority owner.
PerfectJab
Veteran
Posts: 2,683
And1: 1,357
Joined: Apr 20, 2009
 

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#6 » by PerfectJab » Mon Jan 15, 2018 6:12 pm

Durant stating the captain obvious of financial planning.

I think he'd be hard pressed to own an NBA franchise like Michael Jordan but do see a minority ownership possibility if he can connect with the right people.
dc
Head Coach
Posts: 7,388
And1: 8,597
Joined: Aug 11, 2001

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#7 » by dc » Mon Jan 15, 2018 6:36 pm

If he continues to invest his money and those investments turn out well, then a minority stake is certainly possibility down the road.

It's similar to Curry wanting to own the Panthers. No way he could own one himself outright, but I could easily see him as part of an ownership group and the group puts him out as a frontman (due to his name recognition).

That's pretty much how MJ got started with the Hornbobs.
Brian Geltzeiler: You see Mark Jackson getting a head coaching job as early as next year?

Adrian Wojnarowski: Not if people make calls on him. Not if an organization is doing their homework and knows all the things he brings with him.
User avatar
macNcheese3
RealGM
Posts: 11,213
And1: 6,915
Joined: Jul 04, 2015
Location: Las Vegas, Nevada.
   

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#8 » by macNcheese3 » Mon Jan 15, 2018 7:19 pm

cool, good for you KD
User avatar
Harry Garris
Forum Mod
Forum Mod
Posts: 7,984
And1: 13,567
Joined: Jul 12, 2017
     

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#9 » by Harry Garris » Mon Jan 15, 2018 7:22 pm

I don't know about Majority owner. KD never struck me as the business savvy type so I don't see him making a ton of money after his playing career is over. But if he wants to help form an ownership group to bring a team back to Seattle I'm for it.
Image
CelticsWin5
Senior
Posts: 579
And1: 377
Joined: Nov 16, 2017

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#10 » by CelticsWin5 » Mon Jan 15, 2018 7:59 pm

He would have to give away all his money just to be a minority owner. The fact that he doesn’t understand that part shows a lack of business saviness. He’s a joke. Would get swindled hard by real owners. And he would lose a large percentage of his money as it’s a bad investment to invest in a team at these all time high prices
CobraCommander
RealGM
Posts: 22,279
And1: 13,916
Joined: May 01, 2014
       

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#11 » by CobraCommander » Mon Jan 15, 2018 8:20 pm

So do I....

My logo

Image
User avatar
ccvle
Head Coach
Posts: 6,337
And1: 1,714
Joined: Aug 03, 2002

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#12 » by ccvle » Mon Jan 15, 2018 8:53 pm

CelticsWin5 wrote:He would have to give away all his money just to be a minority owner. The fact that he doesn’t understand that part shows a lack of business saviness. He’s a joke. Would get swindled hard by real owners. And he would lose a large percentage of his money as it’s a bad investment to invest in a team at these all time high prices


Jeter is calling himself an owner with just $25m in investment...
colaroaster
Sixth Man
Posts: 1,700
And1: 796
Joined: Jul 18, 2013
Location: jp morgan, rockefellers, rothschild, vanderbilt, danny ainge
   

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#13 » by colaroaster » Mon Jan 15, 2018 9:23 pm

momma durrant would run a tight ship
dc
Head Coach
Posts: 7,388
And1: 8,597
Joined: Aug 11, 2001

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#14 » by dc » Mon Jan 15, 2018 9:48 pm

CelticsWin5 wrote:He would have to give away all his money just to be a minority owner. The fact that he doesn’t understand that part shows a lack of business saviness. He’s a joke. Would get swindled hard by real owners. And he would lose a large percentage of his money as it’s a bad investment to invest in a team at these all time high prices


I'm pretty sure he understands that. He has several investments going on, and I don't think anyone of them involve nightclubs. Most A-List athletes know that getting their foot into the door of ownership involves using their name recognition to be a frontman of an ownership group. That's pretty much how MJ got started in ownership.

And I know it's not apples to apples, but the guy who just bought the Rockets didn't have anywhere in the neighborhood of $2.2B in cash, but he's the owner of the Houston Rockets now. Remember the old saying: rich people didn't get rich by spending their own money.
Brian Geltzeiler: You see Mark Jackson getting a head coaching job as early as next year?

Adrian Wojnarowski: Not if people make calls on him. Not if an organization is doing their homework and knows all the things he brings with him.
dc
Head Coach
Posts: 7,388
And1: 8,597
Joined: Aug 11, 2001

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#15 » by dc » Mon Jan 15, 2018 9:50 pm

ccvle wrote:
Jeter is calling himself an owner with just $25m in investment...


Yep, and that's what most of these athletes would be interested in: Spending a small amount for partial ownership, using their name recognition to be a front man, and leveraging that to be able to call shots in the organization.

No doubt in my mind Lebron will be looking to do something like this within 2-3 years of retiring.
Brian Geltzeiler: You see Mark Jackson getting a head coaching job as early as next year?

Adrian Wojnarowski: Not if people make calls on him. Not if an organization is doing their homework and knows all the things he brings with him.
Sam195
Analyst
Posts: 3,306
And1: 310
Joined: May 18, 2013

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#16 » by Sam195 » Mon Jan 15, 2018 10:55 pm

dc wrote:
CelticsWin5 wrote:He would have to give away all his money just to be a minority owner. The fact that he doesn’t understand that part shows a lack of business saviness. He’s a joke. Would get swindled hard by real owners. And he would lose a large percentage of his money as it’s a bad investment to invest in a team at these all time high prices


I'm pretty sure he understands that. He has several investments going on, and I don't think anyone of them involve nightclubs. Most A-List athletes know that getting their foot into the door of ownership involves using their name recognition to be a frontman of an ownership group. That's pretty much how MJ got started in ownership.

And I know it's not apples to apples, but the guy who just bought the Rockets didn't have anywhere in the neighborhood of $2.2B in cash, but he's the owner of the Houston Rockets now. Remember the old saying: rich people didn't get rich by spending their own money.


Rockets new owner is worth 3.3B and his family includes other billionaires
CelticsWin5
Senior
Posts: 579
And1: 377
Joined: Nov 16, 2017

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#17 » by CelticsWin5 » Mon Jan 15, 2018 11:43 pm

ccvle wrote:
CelticsWin5 wrote:He would have to give away all his money just to be a minority owner. The fact that he doesn’t understand that part shows a lack of business saviness. He’s a joke. Would get swindled hard by real owners. And he would lose a large percentage of his money as it’s a bad investment to invest in a team at these all time high prices


Jeter is calling himself an owner with just $25m in investment...

I don’t get the point of your reply and mention of jeter. Durant says he wants to be the sole owner of a team. You and me both agree Jeter isn’t a real owner, he paid $25 mill to be symbolic owner of a tiny percentage of a real ownership investment group and basically paid to be GM. Doesn’t matter what he calls himself , he’s fake owner.

So what’s the point of your post? I can call myself Superman. It doesn’t make me him
CelticsWin5
Senior
Posts: 579
And1: 377
Joined: Nov 16, 2017

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#18 » by CelticsWin5 » Mon Jan 15, 2018 11:49 pm

dc wrote:
CelticsWin5 wrote:He would have to give away all his money just to be a minority owner. The fact that he doesn’t understand that part shows a lack of business saviness. He’s a joke. Would get swindled hard by real owners. And he would lose a large percentage of his money as it’s a bad investment to invest in a team at these all time high prices


I'm pretty sure he understands that. He has several investments going on, and I don't think anyone of them involve nightclubs. Most A-List athletes know that getting their foot into the door of ownership involves using their name recognition to be a frontman of an ownership group. That's pretty much how MJ got started in ownership.

And I know it's not apples to apples, but the guy who just bought the Rockets didn't have anywhere in the neighborhood of $2.2B in cash, but he's the owner of the Houston Rockets now. Remember the old saying: rich people didn't get rich by spending their own money.

You’re wrong about virtually ever You hunt you said. Its like you know nothing yet decided to chime in with your wrong statements anyways. Tilman is worth upwards of $3 billion. So you’re super wrong there like you didn’t know anything about the subject you’re discussing.
Also who cares if Durant has investment la. So do most Americans with a brain. What’s your point? Many of them will flop and be worthless. I have a cfa and series 7 license. Willing to put money that you don’t know what either of these are
User avatar
BarneyGumble
Lead Assistant
Posts: 5,053
And1: 2,210
Joined: Sep 06, 2008

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#19 » by BarneyGumble » Tue Jan 16, 2018 12:04 am

Sorry, Kevin, but you have to be competitive to succeed in business.
User avatar
ccvle
Head Coach
Posts: 6,337
And1: 1,714
Joined: Aug 03, 2002

Re: Kevin Durant Has Increased Interest In Owning NBA Team 

Post#20 » by ccvle » Tue Jan 16, 2018 12:51 am

CelticsWin5 wrote:
ccvle wrote:
CelticsWin5 wrote:He would have to give away all his money just to be a minority owner. The fact that he doesn’t understand that part shows a lack of business saviness. He’s a joke. Would get swindled hard by real owners. And he would lose a large percentage of his money as it’s a bad investment to invest in a team at these all time high prices


Jeter is calling himself an owner with just $25m in investment...

I don’t get the point of your reply and mention of jeter. Durant says he wants to be the sole owner of a team. You and me both agree Jeter isn’t a real owner, he paid $25 mill to be symbolic owner of a tiny percentage of a real ownership investment group and basically paid to be GM. Doesn’t matter what he calls himself , he’s fake owner.

So what’s the point of your post? I can call myself Superman. It doesn’t make me him


The point was you said he would have to give away all his money just to be a minority owner. I Point out Jeter as an example. If it is a minor interest then a small investment is enough. And jeters 4% stake is not fake, other than sherman, most of the other investors own single digit investment, just like jeter. If jeter is fake, then half of marlins have fake interest as well. Second, go in the article and find where it says durant wants to be the sole owner. Go ahead.

Return to Wiretap Discussion