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Thread: BET Founder makes offer for Hornets

  1. #1

    BET Founder makes offer for Hornets

    Uh-oh. Looks like Pack was right again.

    Let's see Stern and Company stiff arm a prominant African American business man with an impeccable reputation and more bank than George and Ray put together.

  2. #2

  3. #3
    So even though Shinn turned him down this will be something for the owners to chew on. I'm sure the offer was for $200 million plus.

    I think the odds just went back to 50/50.

  4. #4
    In Time Out say-what-x's Avatar
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    Big news, whoop-de-f'ing-do. Here's the prime quote:

    He [Shinn]told me himself personally that the team is not for sale, Johnson said in a telephone interview with The Observer. I figured that making an offer and putting it in writing to him, he has the right to say no. But I wanted him to know that if he ever became a willing seller, Im definitely a willing buyer and am able to move very quickly.

    If a team is not for sale, the NBA cannot do anything about it. Keep dreaming. Johnson would do better making an offer to buy the Magic - they are for sale - rather than try to come in on what Charlotte hopes is a fire sale.

  5. #5
    Every team in the NBA is for sale. All you need is the right amount of money.

  6. #6
    Charter Member Contributor PELICANSFAN's Avatar
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    If this was the "mystery buyer" it looks like it is over for Charlotte.

  7. #7
    Originally posted by HORNETSFAN
    If this was the "mystery buyer" it looks like it is over for Charlotte.
    I would tend to think just the opposite. Who do you think it would take then?

  8. #8
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    Originally posted by izzydean
    Every team in the NBA is for sale. All you need is the right amount of money.
    Actually, you can offer all the money in the world and if the owner says no, tuff sh**. You people in CLT have said it enough, you hate Shinn and Shinn hates you, so why would he even want to sell to someone who would keep the team in CLT and make you happy?

  9. #9
    The NBA owners can't make him sell but they can sure as heck make him stay.

    Like I said, 50/50.

  10. #10
    Originally posted by HORNETSFAN
    If this was the "mystery buyer" it looks like it is over for Charlotte.
    Exactly what I was thinking. The hopes of CLT rested on Shinn and Wooldridge willingly selling the team. Johnson's efforts were done only to make a qualifying offer (and hope the NBA rejects the relocation application) and not to "bowl" over the Hornets owners in an effort to convince them to sell the team. This was the wrong approach to take but the only one that any sensible businessman would take. No one is going to pay the amount that it would take to get Shinn and Wooldridge to sell. IMHO, it's over. I'd like to hear some CLT poster's reactions on this.

  11. #11
    Originally posted by say-what


    Actually, you can offer all the money in the world and if the owner says no, tuff sh**. You people in CLT have said it enough, you hate Shinn and Shinn hates you, so why would he even want to sell to someone who would keep the team in CLT and make you happy?
    All I'm saying is that you can never say a team is not for sale. Even Shinn has said that a long time ago. He also said the team would be staying in CLT. So, just because he said he wouldn't sell, its not written in stone.

  12. #12
    Charter Member Contributor PELICANSFAN's Avatar
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    Originally posted by izzydean


    I would tend to think just the opposite. Who do you think it would take then?
    Did you not read that Shinn turned him down? Do you think the NBA is going to jump in now and say "no Shinn you have to sell and we are going to make you"? Uh, NO! Unless they want a nasty lawsuit.

  13. #13
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    Originally posted by gumbomunky
    The NBA owners can't make him sell but they can sure as heck make him stay.

    Like I said, 50/50.
    Not going to happen if the city won't deal with the owner. The NBA has stated they won't do anything to alienate their owners.

  14. #14
    Originally posted by spongey

    Exactly what I was thinking. The hopes of CLT rested on Shinn and Wooldridge willingly selling the team. Johnson's efforts were done only to make a qualifying offer (and hope the NBA rejects the relocation application) and not to "bowl" over the Hornets owners in an effort to convince them to sell the team. This was the wrong approach to take but the only one that any sensible businessman would take. No one is going to pay the amount that it would take to get Shinn and Wooldridge to sell. IMHO, it's over. I'd like to hear some CLT poster's reactions on this.
    Only a NO fan would criticize someone for making an offer to buy the Hornets. Of course that isnt suprising at all. I don't think any of this was unexpected. We will just have to wait and see how it plays out.

  15. #15
    Originally posted by HORNETSFAN


    Did you not read that Shinn turned him down? Do you think the NBA is going to jump in now and say "no Shinn you have to sell and we are going to make you"? Uh, NO! Unless they want a nasty lawsuit.
    The NBA isnt going to force anyone to sell. I never said they would. Who said that that offer was the only offer that will be made? Whether or not the relocation is denied or not is another question. Unless you personally know the relocation committee, I don't think you can speak for them. This just adds another thing to the list for the relocation commitee to look at.

  16. #16
    Originally posted by izzydean


    Only a NO fan would criticize someone for making an offer to buy the Hornets. Of course that isnt suprising at all. I don't think any of this was unexpected. We will just have to wait and see how it plays out.
    I wasn't criticizing him making an offer. I criticized his methods. It's clear that he only made the offer (which is surely in excess of $200 million) to satisfy one part of the "3 things Charlotte must do". He did not make an offer to blow the Hornets owners away with the amount. I don't blame him for this because no sensible businessman would do that. But it's clear that this offer is nothing more than an offer to keep CLT in the race and hope the NBA turns down the application.

  17. #17
    Yeah, I wouldn't put a whole lot of faith in anything Shinn says about anything. He is a proven liar.

    As far as the strategy of making a qualifying offer, I don't see the flaws? It's been stated by the NBA that for the committee to recommend a "No" vote that an arena plan had to be in place and there had to be a fair market value offer to Shinnridge.

    By my count, both of those things have happened.

    Plus you have Johnson's stature as a respected businessman versus the questionable character of Shinn.

    Johnson = Great PR for the NBA

    Shinn = PR nightmare

    Is it over? Not by a long shot. Has it gotten better for Charlotte? I think so.

  18. #18
    Originally posted by spongey

    I wasn't criticizing him making an offer. I criticized his methods. It's clear that he only made the offer (which is surely in excess of $200 million) to satisfy one part of the "3 things Charlotte must do". He did not make an offer to blow the Hornets owners away with the amount. I don't blame him for this because no sensible businessman would do that. But it's clear that this offer is nothing more than an offer to keep CLT in the race and hope the NBA turns down the application.
    How do you personally know this spongey? Do you claim to know the details of this deal based on this small article.

  19. #19
    In Time Out say-what-x's Avatar
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    Originally posted by izzydean


    Only a NO fan would criticize someone for making an offer to buy the Hornets. Of course that isnt suprising at all. I don't think any of this was unexpected. We will just have to wait and see how it plays out.
    He's not criticizing the man for making an offer, he is criticizing Charlotte on its approach. Rather than fight to keep their team by authorizing the construction of an arena no strings attached, they pin their hopes at saving the team by alienating the other NBA owners with their misguided attempt to force Shinn & Wooldridge to sell unwillingly (a forced sale never occurs at fair market value) and then run them out of town. Way to go Charlotte - good try, but too little, too late.

  20. #20
    Originally posted by say-what


    He's not criticizing the man for making an offer, he is criticizing Charlotte on its approach. Rather than fight to keep their team by authorizing the construction of an arena no strings attached, they pin their hopes at saving the team by alienating the other NBA owners with their misguided attempt to force Shinn & Wooldridge to sell unwillingly (a forced sale never occurs at fair market value) and then run them out of town. Way to go Charlotte - good try, but too little, too late.
    Why are you blaming Charlotte for this? Maybe the man decided to make an offer on his own. You NO posters are so good at trying to make everthing that may hurt your chances look bad.

  21. #21
    Charter Member Adam the Legend's Avatar
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    This move has been a done deal since the Charlotte leadership put that stupid "no deal without new ownership" clause in the arena package. They said they'd remove it, the league said don't bother. No way do the other owners want to let that precedent be set. This offer for the team and any others that may come after it are just window dressing so the city can try and save face.
    the Legend has spoken!

  22. #22
    Originally posted by Adam the Legend
    This move has been a done deal since the Charlotte leadership put that stupid "no deal without new ownership" clause in the arena package. They said they'd remove it, the league said don't bother. No way do the other owners want to let that precedent be set. This offer for the team and any others that may come after it are just window dressing so the city can try and save face.
    Why even bother selling tickets season tickets in NO. The move has obviously been already approved then.

  23. #23
    Charter Member Adam the Legend's Avatar
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    Hey, we still have to do our part, but your mayor and city council killed Charlotte's chances weeks ago.

  24. #24
    All-Star Ellis Hugh's Avatar
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    Originally posted by izzydean


    Why even bother selling tickets season tickets in NO. The move has obviously been already approved then.
    Um, because we are buying tickets for our new basketball team? Because people buy tickets to support a team? Now I see why they are leaving. Charlottans think you DON'T buy tickets if you have a team.


    YOU GOTTA SAY IT OUT LOUD - "ELLIS HUGH! ELLIS HUGH! ELLIS HUGH! TIGERS!"

  25. #25
    Originally posted by Adam the Legend
    Hey, we still have to do our part, but your mayor and city council killed Charlotte's chances weeks ago.
    How you know this to be true is beyond me. And from the looks of things NO isn't exactly blowing away the competition.

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