Kings new minority ownership?

Tetsujin

Tetsujin

The Game Thread Dude
#3
#3
Matina isn’t an owner as far as I know, just someone who happens to come from the most powerful family in Sacramento who wound up becoming the consigliere for Vivek.
 
kb02

kb02

All-Star
#4
#4
The 5% could be from one owner or a number of owners. Depends on how they structured the deal.

Doubt Shaq owns more than 1% and I vaguely remember Carmichael Dave implying he got those shares at a deep discount. Could be mis-remembering or it may have come from someone else and not CD.

As for the owner who sold? My bet, Mastrov. Pandemic hit his businesses pretty hard.
 
pdxKingsFan

pdxKingsFan

So Ordinary That It's Truly Quite Extraordinary
Staff member
#10
#10
If you're a minority owner with no controlling interest not sure if there would be a conflict any more than owning stock in all the oil companies would? Although it is certainly a weird spot to be in, I could see though maybe someone who ultimately wanted to own a team one day would buy up small shares of ownership while they wait their turn for a team to hit the market?
 
Telemachus

Telemachus

Starter
#11
#11
pdxKingsFan said:
If you're a minority owner with no controlling interest not sure if there would be a conflict any more than owning stock in all the oil companies would? Although it is certainly a weird spot to be in, I could see though maybe someone who ultimately wanted to own a team one day would buy up small shares of ownership while they wait their turn for a team to hit the market?
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Yeah, just seemed odd to me.
 
pdxKingsFan

pdxKingsFan

So Ordinary That It's Truly Quite Extraordinary
Staff member
#12
#12
Telemachus said:
Yeah, just seemed odd to me.
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It is a little. I thought it was against the bylaws at one time but I am guessing these super crazy valuations teams get these days can only continue if they allow stuff like this, especially if it is some "waiting list" kind of thing.
 
kb02

kb02

All-Star
#13
#13
pdxKingsFan said:
If you're a minority owner with no controlling interest not sure if there would be a conflict any more than owning stock in all the oil companies would? Although it is certainly a weird spot to be in, I could see though maybe someone who ultimately wanted to own a team one day would buy up small shares of ownership while they wait their turn for a team to hit the market?
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Controlling interest would likely create a conflict of interest. If you had controlling interest in say the Kings, you could, in theory, get an exception from minority owners to own both the Kings and say the Suns. But they’d likely force you to sell your shares in the Suns, especially if you assumed managing partner duties.

As for this venture owning the Kings and Suns, it’s likely a buy low opportunity. I did a quick glance of their philosophy and it looks like they’re heavy on the debt side, so they likely already own a ton of debt tied to the NBA and various teams in the NBA. This is a venture into the equity side, so it looks like they’re diversifying their play.
 
Section 101

Section 101

All-Star
#14
#14
OK was beat from the heat yesterday. Re read the article. It sounds like they are starting an investment company that is investing in other company's who own the shares. So their company doesn't actually own the shares.
 
kb02

kb02

All-Star
#15
#15
Section 101 said:
OK was beat from the heat yesterday. Re read the article. It sounds like they are starting an investment company that is investing in other company's who own the shares. So their company doesn't actually own the shares.
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Ownership would pierce through, so they would own the shares. Anyway, the key level is 10%. If any company/person ever acquires more than 10%, they're likely making a long term play for Vivek's control.
 
Section 101

Section 101

All-Star
#16
#16
kb02 said:
Ownership would pierce through, so they would own the shares. Anyway, the key level is 10%. If any company/person ever acquires more than 10%, they're likely making a long term play for Vivek's control.
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They wouldn't have any controlling interest. Let's say Mastrov's shares were under 24 hour fitness' corporation. They would be investing in 24 hour fitness.
 
kb02

kb02

All-Star
#17
#17
Section 101 said:
They wouldn't have any controlling interest. Let's say Mastrov's shares were under 24 hour fitness' corporation. They would be investing in 24 hour fitness.
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Ownership will pierce through regardless of the holding company (24 hour fitness in your example). Right now, it’s just exposure for them. If they own more than 10%, would be considered an insider, which brings a number of restrictions that they would want to avoid unless they were intent on taking control (likely in steps unless Vivek was in cahoots).
 
Section 101

Section 101

All-Star
#21
#21
whozit said:
At least with the Kings it doesn't. I could imagine a situation where the ownership is set up with majority rules. Wasn't there something about the Maloofs owning just over 50% and that fact was pertinent?
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I believe vivek is well under 50%. And not all shares have voting rights.
 
S

SactownShaq

G-League
#23
#23
kb02 said:
The 5% could be from one owner or a number of owners. Depends on how they structured the deal.

Doubt Shaq owns more than 1% and I vaguely remember Carmichael Dave implying he got those shares at a deep discount. Could be mis-remembering or it may have come from someone else and not CD.

As for the owner who sold? My bet, Mastrov. Pandemic hit his businesses pretty hard.
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I think Shaqs owns like 2% or something. It was more about having his name behind it lol
 
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