The Pollins - Will They Sell ? 4/29 Yes

hands11 · Post #1 » by **hands11** » Mon Apr 19, 2010 2:41 am

http://www.washingtonpost.com/wp-dyn/co ... 02597.html

I don't know. Reading this didn't give me the feeling of an family that was leaning toward selling.

verbal8 · Post #2 » by **verbal8** » Mon Apr 19, 2010 5:17 am

hands11 wrote:http://www.washingtonpost.com/wp-dyn/content/article/2010/04/17/AR2010041702597.html

I don't know. Reading this didn't give me the feeling of an family that was leaning toward selling.

90% of the article including quotes from Robert Pollin seem to indicate they are going to sell. But then the 2nd to last paragraph seems like he has reservations about selling. Maybe it ends up they keep a small non-controlling interest. Maybe they even have a deal where they get a shot at buying it back if Leonsis sells.

hands11 · Post #3 » by **hands11** » Mon Apr 19, 2010 12:41 pm

But it also likely served as the final time that Pollin's wife of 64 years, Irene, and his sons, Robert and Jim, would occupy this suite as the primary owners of the franchise.

Robert Pollin was asked if it felt strange that these gatherings -- for the franchise, and in a place that his father built -- may not happen again.

"Try not to think about it," he said behind an uncomfortable grin.

"That's separate from the Wizards and the Verizon Center in its own right. It's also integrated, obviously because the Wizards and the Verizon Center were a big part of my father's life, part of our lives."

When the two entered the agreement, Pollin anointed Leonsis, the former AOL vice chairman, as his heir. - Chalk one up for Ted

Our side, in my opinion, is certainly honoring Ted's rights in spirit and to the letter. I don't think of it as the team is for sale. We are certainly fulfilling everything that my father and Ted and his partners agreed to. And where it ends up, you never know in a negotiation until a negotiation is over."

Although several details need to be worked out, an agreement will likely leave the Pollin family without a role in a franchise that Abe Pollin purchased for $1.1 million in 1964.

- I would assume Ted had a pretty solid agreement but that is what lawyers do. They work the loop holes and drag things out until all options are exhausted. Once it's sold. It's sold. I see Robert dragging it out.

"Let's say it does end up that we don't own the team anymore by next season. It's a tremendous loss," Robert Pollin said. "My father bought the team when I was 13. He didn't buy it as business investment. He bought it for fun. He was a radical sports fan. And I am today. It's an integral part of my life and my relationship with my father. So if there is a big change and we aren't, that will be a difficult step, and we all take difficult steps. Certainly, it won't be as difficult as the loss of my father.

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90% ? That wasn't my take on the information in the article. Robert has been showing up a lot more on TV and now in the press. You can take that in different ways. One is that he introducing himself to the city and fans. While he has to follow the letter of the agreement between his father and Ted, it seems clear he is struggling with letting go of the team.

Remember,this is Abe's son. The same Abe that two timed MJ in their agreement. Robert loved his father and this team is a big part of their lives. With his father gone, I see him trying to hold onto the team because it would help him to hold onto his father. The team is an extension of his fathers life.

My take is he doesn't want to let the team go but he may have no choice. And if that is the case, it's going slower as they cross every T and dot every I. I think they will try to do what you said. They will try to retain some ownership and get a buy back written into the deal.

daSwami · Post #4 » by **daSwami** » Wed Apr 21, 2010 2:39 am

As a son, At what point do you take off the rose-colored glasses and say: "Sorry dad. I love ya, but you really sucked as an NBA franchise owner. If you really loved this city, you would've wanted its NBA franchise to be owned by someone who could do a better job than me."?

hands11 · Post #5 » by **hands11** » Thu Apr 29, 2010 5:42 am

Thank God the answer was yes.

http://www.bulletsforever.com/2010/4/27 ... es-deal-to

verbal8 · Post #6 » by **verbal8** » Thu Apr 29, 2010 11:10 am

hands11 wrote:Thank God the answer was yes.

http://www.bulletsforever.com/2010/4/27 ... es-deal-to

"What we really wanted today is to say we have basically reached an agreement with Ted," said Pollin. "I wanted to get it out to our employees. We just wanted to get it all out so we can plan for a transition that would be smooth, and for the employees to understand where we are."

In other words give time for EG to pack his stuff up

Donkey McDonkerton · Post #7 » by **Donkey McDonkerton** » Thu Apr 29, 2010 12:24 pm

verbal8 wrote:
hands11 wrote:Thank God the answer was yes.

http://www.bulletsforever.com/2010/4/27 ... es-deal-to

"What we really wanted today is to say we have basically reached an agreement with Ted," said Pollin. "I wanted to get it out to our employees. We just wanted to get it all out so we can plan for a transition that would be smooth, and for the employees to understand where we are."

In other words give time for EG to pack his stuff up

not so fast, heard he was staying