Hudlin Entertainment Forum

Sports => Sports Talk => Topic started by: zulu801 on October 26, 2006, 03:34:45 pm

Title: Will Smith as Co Owner of 76ers
Post by: zulu801 on October 26, 2006, 03:34:45 pm
This will be a great opportunity for Will:




Will Smith Involved In Potential Philadelphia 76ers Purchase
By Chris Richburg
Date: 10/26/2006 8:45 am




Actor/rapper Will Smith could be the latest entertainer to hold a stake in a professional basketball team.

The Philadelphian is among a set of investors interested in purchasing the Philadelphia 76ers from Comcast-Spectacor, according to The Philadelphia Daily News.

The group, which was assembled by basketball legend Julius "Dr. J" Erving, would like to have a meeting with officials from Comcast in the near future, a source told the newspaper.

Erving played 11 of his 15 professional seasons with the 76ers before being inducted into the Naismith Memorial Basketball Hall of Fame in 1993.

The collective faces competition from another group that met with Comcast last month and has since held informal discussions.

In addition to signing nondisclosure agreements, those looking to buy the team are advised to contact Galatioto Sports Partners, a New York-based sports investment firm hired by Comcast.

Recent speculation suggests that owners could ask for as much as $450 million for the Sixers, the Daily News reports, adding that the amount would represent the largest price in league history.

Despite the interest, current owners emphasize that "no decision has been made to sell the 76ers."

"We have been approached by multiple parties interested in purchasing the Philadelphia 76ers, particularly in the wake of recent speculation," said chairman Ed Snider in a statement released in August. "While this is not the first time we have received some inquiries, we have decided to engage the services of Galatioto Sports Partners, an industry-leading sports-investment firm, to help us evaluate our strategic alternatives, including a sale or a new partnership."

If a deal is struck, Smith will join fellow rappers Jay-Z and Nelly and R&B singer Usher as co-owners of an NBA franchise.
Title: Re: Will Smith as Co Owner of 76ers
Post by: Hypestyle on October 26, 2006, 04:13:30 pm
neat--

hmm.. "Gettin' Jiggy Wit' It" becomes the team theme song..

jeff gets brought in to create some funkier interlude music..

 :)
Title: Re: Will Smith as Co Owner of 76ers
Post by: Mastrmynd on October 26, 2006, 07:21:54 pm
dj jazzy jeff spinning thru out the game.

some one scores, jeff spins!
some one misses or fouls, then jeff scratches a record.
Title: Re: Will Smith as Co Owner of 76ers
Post by: KamiKaZee on October 26, 2006, 07:59:19 pm


Will Smith is wise to parlay and diversify his assets.  More ppl should do that.


Title: Re: Will Smith as Co Owner of 76ers
Post by: Rockscissorspaper on October 27, 2006, 02:02:57 pm
hmm.. "Gettin' Jiggy Wit' It" becomes the team theme song..

That would be pure HELL  :'(
Title: Re: Will Smith as Co Owner of 76ers
Post by: bluezulu on October 28, 2006, 06:20:14 pm
some of yall folks with money break it down for me. call me jaded but what does it mean when you own 5% or 10% of a sports team? to me it looks like you are just a token owner. bob johnson is the only majority owner in major pro sports, with the charlotte bobcats. that is impressive. he also looks like he is playing his cards right with his draft picks. look at dan snyder and jerry jones. when it is said and done the bobcats as a business may be bigger then what bet was for him.
Title: Re: Will Smith as Co Owner of 76ers
Post by: KamiKaZee on October 28, 2006, 11:23:34 pm


It's not token at all.  If you own 5-10% of the team that means you receive 5-10% of the payout/earnings.
Even after expenses and taxes that should be a hefty chunkochange.  And you gets that on the regular.


Title: Re: Will Smith as Co Owner of 76ers
Post by: Curtis Metcalf on October 30, 2006, 08:28:45 am
Kami is right about the return on investment.  However, in terms of control of the operation, I think blue's concerns are on target.  I wouldn't characterize it as tokenism though.  It is a significant investment holding.  I don't know if Mr. Smith would necessarily want to be the majority owner at this point in his career.
Title: Re: Will Smith as Co Owner of 76ers
Post by: bluezulu on October 30, 2006, 05:07:49 pm
yea i remember pat croche who is a tv commentator was a minority owner of the 76ers (started out as the teams trainer) but they liked his vision of the team and was made acting president meaning he called the shots in the organization. but of course ai and larry brown pressured him out so when the star in the coach make more loot then the "minority owner" then you are fighting a losing battle i guess.