Bengals are lone vote against PE ownership of NFL teams.

[PatternMaster]

 

 

https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/private-equity-rule-passed-by-31-1-vote-with-only-the-bengals-opposed

 

 

[PatternMaster]

Per multiple reports, the Bengals cast the lone dissenting vote. Although Katie Blackburn technically pulled the “no” lever, it continues a trend started by her father, Mike Brown.

 

As one source with knowledge of the dynamics remarked, the Bengals consistently oppose anything that contributes to modernizing the league’s financial infrastructure.....

 

Given that each fund can own up to 10 percent of one team and that each fund can own pieces of up to six teams, there could be one fund (in theory) with the equivalent of 60 percent of one team. Which could make it easier for the league to justify an eventual push to allow institutional or corporate money to buy franchises that currently operate like family-owned food trucks

 

[PatternMaster]

Florida said the Bengals are run like a family owned food truck and he's not wrong 

[Homer_Rice]

1 hour ago, PatternMaster said:

Florida said the Bengals are run like a family owned food truck and he's not wrong 

If you are going to quote an article, please use quotation marks. Keeps the plagiarism down.

 

I presume you mean Florio. And yes, he is wrong. Wouldn't be the first time. Doubt it'll be the last.

 

From my perspective, I am just as proud of this vote cast by Blackburn as I am of the times the Bengals went to the Super Bowl. She gets it. I bet she could give us an earful on the difficulties introducing private equity funds into the finances of the NFL. I'm loving the nod to the old school here. Of course, I'm still the same guy who stirred up a lot of shit back in 1990, when I characterized Michael Milken's behavior at his sentencing as "Blubbering." Fun Days then. Sadly we are so far up the neoliberal river without a paddle that most people can't even put two and two together anymore.

 

Just my two bits.

 

A little more:

NFL wants a cut of private equity investment profits

 

[T-Dub]

42 minutes ago, Homer_Rice said:

If you are going to quote an article, please use quotation marks. Keeps the plagiarism down.

 

I presume you mean Florio. And yes, he is wrong. Wouldn't be the first time. Doubt it'll be the last.

 

From my perspective, I am just as proud of this vote cast by Blackburn as I am of the times the Bengals went to the Super Bowl. She gets it. I bet she could give us an earful on the difficulties introducing private equity funds into the finances of the NFL. I'm loving the nod to the old school here. Of course, I'm still the same guy who stirred up a lot of shit back in 1990, when I characterized Michael Milken's behavior at his sentencing as "Blubbering." Fun Days then. Sadly we are so far up the neoliberal river without a paddle that most people can't even put two and two together anymore.

 

Just my two bits.

 

A little more:

NFL wants a cut of private equity investment profits

 

 

Said as much in the other thread where this came up, but whenever people wonder why a solid brand we used to like suddenly went to shit the answer is usually PE investment.

 

They'd happily serve us sawdust if it meant an extra half cent in revenue. You'd think flying a profitable brand into the ground is bad business but it's all about the short term dividends. Wring out every cent of profit and on to the next.

 

Think the NFL product has been watered down now, just wait. 

[-GoBengals-]

i have a hard time understanding how any fan would be in favor. the FLorio's of the world make a living making the nfl happy and reporting on them, and arent in a place(or just are too stupid) to see how this can ONLY be bad..

 

if the league were suffering and having a hard time making profits or funding player care or something.. MAYBE you do this as a last straw. 

 

this is terrible. billionaires throwing away everything the nfl has built for a little bit more cash is pretty fucking gross.

[|Elflocko|]

Hope we finally win a SB or two before those parasites run the league, because once those monsters get their hooks in, the NFL as we know it is over. 

[fluhartz]

5 hours ago, GoBengals said:

i have a hard time understanding how any fan would be in favor. the FLorio's of the world make a living making the nfl happy and reporting on them, and arent in a place(or just are too stupid) to see how this can ONLY be bad..

 

if the league were suffering and having a hard time making profits or funding player care or something.. MAYBE you do this as a last straw. 

 

this is terrible. billionaires throwing away everything the nfl has built for a little bit more cash is pretty fucking gross.

Florio is such a fucking tool.

 

This is so freaking true. It sucks

[Le Tigre]

7 hours ago, T-Dub said:

Think the NFL product has been watered down now, just wait. 

I couldn’t detest the NFL more now. Not sure how that would increase 

[|BlackJesus|]

So instead of sending these rapacious parasites to the guillotine live on pay-per-view like they deserve, we are going to let them ruin the only reason to wake up on Sunday. 😡 

 

They already destroyed childhood nostalgia with what they did to Toys-R-Us ... Now these vultures want to sacrifice the 'golden calf' that is the NFL. 

[UncleEarl]

18 hours ago, PatternMaster said:

Per multiple reports, the Bengals cast the lone dissenting vote. Although Katie Blackburn technically pulled the “no” lever, it continues a trend started by her father, Mike Brown.

 

As one source with knowledge of the dynamics remarked, the Bengals consistently oppose anything that contributes to modernizing the league’s financial infrastructure.....

 

Given that each fund can own up to 10 percent of one team and that each fund can own pieces of up to six teams, there could be one fund (in theory) with the equivalent of 60 percent of one team. Which could make it easier for the league to justify an eventual push to allow institutional or corporate money to buy franchises that currently operate like family-owned food trucks

 

 

Yeah, that is not how I understood it would work.  The fact that multiple PE companies could own a controlling interest in a team is frightening.  Good for the Brown family. 

 

OTOH, it's entertainment, so if football went down the tubes we would just pivot to something else and many players brains would thank us.

[T-Dub]

10 hours ago, Le Tigre said:

I couldn’t detest the NFL more now. Not sure how that would increase 

 

Corporate logos plastered all over the uniforms & fields, "This 3rd & Goal brought to you by Skyline Chili!", cracking down on sites like this one for using unlicensed Youtube clips or "accounts of the game", eliminating perks for season ticket holders, raising prices on everything, only allowing licensed food & alcohol vendors at team-owned parking lots for tailgating, charging like a regular season game for public training camp days, post-practice autograph sessions are now ticketed events, making the postseason pay-per-view, 30 minutes straight of advertising at halftime instead of clip shows, tickets are now nontransferable...

 

All sorts of ways to wring a few extra bucks out of the cash cow if you don't really care about the product.

[Jamie_B]

8 hours ago, BlackJesus said:

So instead of sending these rapacious parasites to the guillotine live on pay-per-view like they deserve, we are going to let them ruin the only reason to wake up on Sunday. 😡 

 

They already destroyed childhood nostalgia with what they did to Toys-R-Us ... Now these vultures want to sacrifice the 'golden calf' that is the NFL. 

 

 

I'd pay Sunday ticket prices for guillotine live

[Cricket]

2 hours ago, T-Dub said:

 [snip]

All sorts of ways to wring a few extra bucks out of the cash cow if you don't really care about the product.

…or the customers.  
 

 

[|SF2|]

Not sure how a PE firm owning 10% of a team is throwing “everything away” or why they would want to destroy their investment.  Maybe somebody can explain.  And the Toys R Us example is a horrible one.  That company had not been profitable for years and was heading for bankruptcy anyways. 

[Homer_Rice]

2 hours ago, SF2 said:

Not sure how a PE firm owning 10% of a team is throwing “everything away” or why they would want to destroy their investment.  Maybe somebody can explain.  And the Toys R Us example is a horrible one.  That company had not been profitable for years and was heading for bankruptcy anyways. 

It's the modus operandi of a lot of these firms. Check out the history of Leveraged Buy Outs (LBOs), tons of example of how companies are bought, stripped of assets, loaded down by huge amounts of debt, and then, once these biggest bloodsuckers since Dracula have extracted all they can from their deliberate bust ups, they then dump the husk of what used to be a viable company.

 

In fact, this is precisely what happened to Toys R Us. When KKR and Bain bought them out back at the beginning of the century, they loaded the company down with so much debt that T-R-Us could not remain competitive due to their debt service obligations. Prevented them from investing in the company itself.

 

Now private equity has their fingers in a lot of pies and not all of their investments are "rip and run" projects. BUT, the role these companies played in turning our economy from a productive, let's build shit, foundation into a FIRE, let's be intermediate looters, economy is substantial.

 

If Charlie Manson showed up at your door, would you invite him in for a beer?

 

[|SF2|]

47 minutes ago, Homer_Rice said:

It's the modus operandi of a lot of these firms. Check out the history of Leveraged Buy Outs (LBOs), tons of example of how companies are bought, stripped of assets, loaded down by huge amounts of debt, and then, once these biggest bloodsuckers since Dracula have extracted all they can from their deliberate bust ups, they then dump the husk of what used to be a viable company.

 

In fact, this is precisely what happened to Toys R Us. When KKR and Bain bought them out back at the beginning of the century, they loaded the company down with so much debt that T-R-Us could not remain competitive due to their debt service obligations. Prevented them from investing in the company itself.

 

Now private equity has their fingers in a lot of pies and not all of their investments are "rip and run" projects. BUT, the role these companies played in turning our economy from a productive, let's build shit, foundation into a FIRE, let's be intermediate looters, economy is substantial.

 

If Charlie Manson showed up at your door, would you invite him in for a beer?

 

You are talking about publicly traded companies for one and with only 10% ownership they couldn’t do any of this scary stuff you are predicting.    
 

Also, there are plenty of quality private equity firms out there funding startups with PRIVATE not public capital.  Yeah, there are some Richard Gere type firms out there but I would think most owners wouldn’t do business with them.  
 

 

 

[Le Tigre]

1 hour ago, Homer_Rice said:

If Charlie Manson showed up at your door, would you invite him in for a beer?

Dennis Wilson did?

[Jamie_B]

These vampires are coming after youth sports too.

 

Private Equity Targets $30 Billion Youth Sports Industry - Bloomberg

[Jungletiger]

PE firms and the like, worst and best thing to happen.  I'm against it,

[Jungletiger]

3 hours ago, SF2 said:

You are talking about publicly traded companies for one and with only 10% ownership they couldn’t do any of this scary stuff you are predicting.    
 

Also, there are plenty of quality private equity firms out there funding startups with PRIVATE not public capital.  Yeah, there are some Richard Gere type firms out there but I would think most owners wouldn’t do business with them.  
 

 

 

 

Not completely correct, 10% is a lot of money and the threat of them pulling out of their investment will give them a lot of sway.

[Jamie_B]

4 hours ago, Homer_Rice said:

It's the modus operandi of a lot of these firms. Check out the history of Leveraged Buy Outs (LBOs), tons of example of how companies are bought, stripped of assets, loaded down by huge amounts of debt, and then, once these biggest bloodsuckers since Dracula have extracted all they can from their deliberate bust ups, they then dump the husk of what used to be a viable company.

 

In fact, this is precisely what happened to Toys R Us. When KKR and Bain bought them out back at the beginning of the century, they loaded the company down with so much debt that T-R-Us could not remain competitive due to their debt service obligations. Prevented them from investing in the company itself.

 

Now private equity has their fingers in a lot of pies and not all of their investments are "rip and run" projects. BUT, the role these companies played in turning our economy from a productive, let's build shit, foundation into a FIRE, let's be intermediate looters, economy is substantial.

 

If Charlie Manson showed up at your door, would you invite him in for a beer?

 

 

Similar happened to Red Lobster

[Jungletiger]

Sadkly, humans are adaptable.  If the money moves in, the game will change, the you ng will grow up with it, the old will die and dissent will go away.  It's already happening in other things in life.

[I_C_Deadpeople]

2 minutes ago, Jungletiger said:

 

Not completely correct, 10% is a lot of money and the threat of them pulling out of their investment will give them a lot of sway.

They would not be able to 'pull out thier money'. They would have to find a buyer for their 10% that is approved by the league. 

[Jungletiger]

Just now, I_C_Deadpeople said:

They would not be able to 'pull out thier money'. They would have to find a buyer for their 10% that is approved by the league. 

 

I doubt it will be that hard.