Team sale Progressing and how that may impact moves

[Ghost of Kleine]

https://sportsnaut.com/phoenix-suns-progressing-search-for-new-team-owner/

Phoenix Suns progressing in search for new team owner

Andrew Buller-Russ

According to the Sports Business Journal, a “handful of bidding groups” have reached the second round of examining their qualifications for purchasing the Suns.

Sarver, who owns 35% of the Suns, does have the power to sell the team in full. He also owns the rights to the WNBA’s Phoenix Mercury, which he’s also looking to sell, likely as part of the deal.

Bidding groups?!?!??
Does that mean there are currently no solitary wealthy billionaire owners currently involved in the process? I really hope that we don't get stuck with another fiscally inept meddling investment group with financial constraints and that might not be able to agree on important decisions.

[lilfishi22]

I don't think group necessarily it's a group sale but rather "multiple parties". Nobody shows up by themselves with an offer

[lilfishi22]

I don't think group necessarily it's a group sale but rather "multiple parties". Nobody shows up by themselves with an offer

[RaisingArizona]

I don't think group necessarily it's a group sale but rather "multiple parties". Nobody shows up by themselves with an offer

[Bogyo]

Well I dont think anybody shows up by themselves with an offer. It's probably not a group sale, but rather "multiple parties".

[JDJ26]

https://sportsnaut.com/phoenix-suns-progressing-search-for-new-team-owner/

Phoenix Suns progressing in search for new team owner

Andrew Buller-Russ

According to the Sports Business Journal, a “handful of bidding groups” have reached the second round of examining their qualifications for purchasing the Suns.

Sarver, who owns 35% of the Suns, does have the power to sell the team in full. He also owns the rights to the WNBA’s Phoenix Mercury, which he’s also looking to sell, likely as part of the deal.

Bidding groups?!?!??
Does that mean there are currently no solitary wealthy billionaire owners currently involved in the process? I really hope that we don't get stuck with another fiscally inept meddling investment group with financial constraints and that might not be able to agree on important decisions.

One of the bidding groups has a familiar face.

Spoiler:

[Ghost of Kleine]

https://sportsnaut.com/phoenix-suns-progressing-search-for-new-team-owner/

Phoenix Suns progressing in search for new team owner

Andrew Buller-Russ

According to the Sports Business Journal, a “handful of bidding groups” have reached the second round of examining their qualifications for purchasing the Suns.

Sarver, who owns 35% of the Suns, does have the power to sell the team in full. He also owns the rights to the WNBA’s Phoenix Mercury, which he’s also looking to sell, likely as part of the deal.

Bidding groups?!?!??
Does that mean there are currently no solitary wealthy billionaire owners currently involved in the process? I really hope that we don't get stuck with another fiscally inept meddling investment group with financial constraints and that might not be able to agree on important decisions.

One of the bidding groups has a familiar face.

Spoiler:

Seriously man!!! that would be ...................................

[JDJ26]

Read on Twitter

I guess Sarver is going to be petty about selling the Suns.

[bwgood77]

Peter Thiel is a co founder or PayPal and was CEO untl it's sale to eBay for $1.5 billion. He was also a securities lawyer, hedge and derivatives funds owner, one of first big investors in Facebook, acquiring over 10% of it in 2004 for $500K and sold most of them in 2012 for over $1 billion, bankrupted Gawker after they outed him as being gay, is a libertarian conservative who has contributing a lot of money to right wing causes and figures.

Funds non profits doing work in AI, Life extension and Seasteds.

He is Chairman of Palantir Technologies, which does Data Mining to help stop terrorism and works with the government on unintrusive and traceable data mining. This has the financial backing of Q-Tel, a venture capital arm of the CIA.

Worth over $7 billion.

All from wikipedia.

[bwgood77]

Shasta

Founders -

ROB CONEYBEER
Managing Director

Rob is a co-founder of Shasta Ventures and a 24-year veteran of the venture capital industry. He focuses on investing in emerging platforms – Robotics, Space, Connected Hardware, and Transportation. His current Shasta investments include Doctor on Demand, Fetch Robotics, LawVu, Spire Global, Starship Technologies, Survios, Tonal, and Turo. Rob earned a Master of Science in mechanical engineering from the Georgia Institute of Technology and a Bachelor of Science in mechanical engineering from the University of Virginia. He also holds an MBA from the Wharton School at the University of Pennsylvania, where he was named a Palmer Scholar.

RAVI MOHAN
Managing Director

Ravi’s entire career has been focused exclusively on software businesses. He continues to work with passionate entrepreneurs who possess unique product and market perspectives that result in high growth companies. His areas of expertise include data and analytics, SaaS applications, infrastructure management. Ravi is a co-founder of Shasta and led the firm’s investments in and currently serves on the Boards of Lucidworks, Highspot, SendBird, LeanData, CommerceIQ, vFunction, Lightbend, Resilinc, Suplari and previously Anaplan, Apptio, Appsheet, Zenprise and Volometrix. Prior to Shasta, Ravi was a general partner at Battery Ventures and a member of the executive committee. He led eight investments and served on the boards of 12 software and technology-enabled service companies.

Rest of the team https://www.shasta.vc/team/

[MrMiyagi]

Peter Thiel is a co founder or PayPal and was CEO untl it's sale to eBay for $1.5 billion. He was also a securities lawyer, hedge and derivatives funds owner, one of first big investors in Facebook, acquiring over 10% of it in 2004 for $500K and sold most of them in 2012 for over $1 billion, bankrupted Gawker after they outed him as being gay, is a libertarian conservative who has contributing a lot of money to right wing causes and figures.

Funds non profits doing work in AI, Life extension and Seasteds.

He is Chairman of Palantir Technologies, which does Data Mining to help top terrorism and works with the government on unintrusive and traceable data mining. This has the financial backing of Q-Tel, a venture capital arm of the CIA.

Worth over $7 billion.

All from wikipedia.

So, better than Sarver?

[Bogyo]

So whats the net worth of this group? I hope over 10-15 billion, and they take it seriously enough... Where its a sizeable investment for them, but not a matter of life and death as it was with Sarver. That way they focus on it, want it to be successful but not necessarily get too much involved in the day-to-day. The IT / data mining stuff might help as well...

Oh, and are they the buyers? Or front runners? Or one of the 1-2-3 groups who are serious about the deal?

[lilfishi22]

So whats the net worth of this group? I hope over 10-15 billion, and they take it seriously enough... Where its a sizeable investment for them, but not a matter of life and death as it was with Sarver. That way they focus on it, want it to be successful but not necessarily get too much involved in the day-to-day. The IT / data mining stuff might help as well...

Oh, and are they the buyers? Or front runners? Or one of the 1-2-3 groups who are serious about the deal?

For a few minutes, I thought you meant the member of this Suns forum

I think we have the collective net worth to purchase a WNBA team lol

[grumpysaddle]

So whats the net worth of this group? I hope over 10-15 billion, and they take it seriously enough... Where its a sizeable investment for them, but not a matter of life and death as it was with Sarver. That way they focus on it, want it to be successful but not necessarily get too much involved in the day-to-day. The IT / data mining stuff might help as well...

Oh, and are they the buyers? Or front runners? Or one of the 1-2-3 groups who are serious about the deal?

For a few minutes, I thought you meant the member of this Suns forum

I think we have the collective net worth to purchase a WNBA team lol

That's probably pushing it. Maybe 10% of 10% of a WNBA team.

[lilfishi22]

So whats the net worth of this group? I hope over 10-15 billion, and they take it seriously enough... Where its a sizeable investment for them, but not a matter of life and death as it was with Sarver. That way they focus on it, want it to be successful but not necessarily get too much involved in the day-to-day. The IT / data mining stuff might help as well...

Oh, and are they the buyers? Or front runners? Or one of the 1-2-3 groups who are serious about the deal?

For a few minutes, I thought you meant the member of this Suns forum

I think we have the collective net worth to purchase a WNBA team lol

That's probably pushing it. Maybe 10% of 10% of a WNBA team.

https://www.sportsbusinessjournal.com/Journal/Issues/2022/10/03/Opinion/Opinion.aspx

Numbers for the WNBA have been harder to pin down. In a story from The Athletic, Commissioner Cathy Engelbert’s math placed the average WNBA team value at more than $43.75 million.

Assuming low end might be in the ~$20m, I think the combined net worth of all members of this Suns forum is probably above that. I have nothing to back that up but just a feeling....

[Slim Charless]

For a few minutes, I thought you meant the member of this Suns forum

I think we have the collective net worth to purchase a WNBA team lol

That's probably pushing it. Maybe 10% of 10% of a WNBA team.

https://www.sportsbusinessjournal.com/Journal/Issues/2022/10/03/Opinion/Opinion.aspx

Numbers for the WNBA have been harder to pin down. In a story from The Athletic, Commissioner Cathy Engelbert’s math placed the average WNBA team value at more than $43.75 million.

Assuming low end might be in the ~$20m, I think the combined net worth of all members of this Suns forum is probably above that. I have nothing to back that up but just a feeling....

Does Griner's return make the team value go up? LIke for every gun that Bout sells part of the proceeds go to increase the value of the Mercury.......

[garrick]

Peter Thiel is a co founder or PayPal and was CEO untl it's sale to eBay for $1.5 billion. He was also a securities lawyer, hedge and derivatives funds owner, one of first big investors in Facebook, acquiring over 10% of it in 2004 for $500K and sold most of them in 2012 for over $1 billion, bankrupted Gawker after they outed him as being gay, is a libertarian conservative who has contributing a lot of money to right wing causes and figures.

Funds non profits doing work in AI, Life extension and Seasteds.

He is Chairman of Palantir Technologies, which does Data Mining to help stop terrorism and works with the government on unintrusive and traceable data mining. This has the financial backing of Q-Tel, a venture capital arm of the CIA.

Worth over $7 billion.

All from wikipedia.

If Peter Thiel buys the Suns it will be worse than having Sarver continuing to own the Suns.

Peter Thiel is part of the paypal mafia who are ultra right wing conservatives that back Trump and other MAGA republicans that fanatics like Josh Hawley or Blake Masters. Hard pass on these guys owning the Suns.

https://www.theguardian.com/technology/2022/may/30/peter-thiel-republican-midterms-trump-paypal-mafia

[darmani]

Sarver is a saint compared to Thiel and the Qataris.

[bwgood77]

Peter Thiel is a co founder or PayPal and was CEO untl it's sale to eBay for $1.5 billion. He was also a securities lawyer, hedge and derivatives funds owner, one of first big investors in Facebook, acquiring over 10% of it in 2004 for $500K and sold most of them in 2012 for over $1 billion, bankrupted Gawker after they outed him as being gay, is a libertarian conservative who has contributing a lot of money to right wing causes and figures.

Funds non profits doing work in AI, Life extension and Seasteds.

He is Chairman of Palantir Technologies, which does Data Mining to help stop terrorism and works with the government on unintrusive and traceable data mining. This has the financial backing of Q-Tel, a venture capital arm of the CIA.

Worth over $7 billion.

All from wikipedia.

If Peter Thiel buys the Suns it will be worse than having Sarver continuing to own the Suns.

Peter Thiel is part of the paypal mafia who are ultra right wing conservatives that back Trump and other MAGA republicans that fanatics like Josh Hawley or Blake Masters. Hard pass on these guys owning the Suns.

https://www.theguardian.com/technology/2022/may/30/peter-thiel-republican-midterms-trump-paypal-mafia

I agree...I do not want him to buy it, though he may allow us to spend money, etc.

But yes, that other stuff bothers me along with the data mining for the CEO (to stop terrorists or so they say)...it sounds like looking through social media and racial profiling to me, etc.

That is why I looked into this stuff and posted it.

Who knows if they'd get approved by other owners.

I generally don't like the idea of a venture capital fund buying the team anyway. I guess the only positive would be they will want their fund to do well and investors to know, etc, but typically all NBA team values rise fast.

[LV-Suns]

As much as I don't like Thiel and the Qatari's, we would be one of the most well funded team if they purchase the team. The Qatari Sports Investment bought a nearly bankrupt Paris Saint-Germain soccer team back in 2010, bankrolled a ton a money, and they are currently a powerhouse in Europe. They were able to bring in Messi, Neymar, and Mbappe and won 8 of the last 10 championships in the French league.