Mitch The Rock Richmond

L

LWP777

Guest
#6
I wonder how many millions he still has left. While he made some good cash playing that was back before the mega ridiculous contracts. Sounds like he's been pretty smart about his finances.
 

Mr. S£im Citrus

Doryphore of KingsFans.com
Staff member
#7
Um, well... yeah? Last I heard of Rock, he had washed his hands of the Kings and Sacramento, self-identified as a Warrior, and was, in fact, working for the Warriors organization. For the benefit of those of us non-locals, what's led to this resurgence of Richmond love?
 
#8
Um, well... yeah? Last I heard of Rock, he had washed his hands of the Kings and Sacramento, self-identified as a Warrior, and was, in fact, working for the Warriors organization. For the benefit of those of us non-locals, what's led to this resurgence of Richmond love?
Sac mayor Kevin Johnson announced that Richmond was among 20 investors bidding on Bob Cook's 7% of the team that is being auctioned due to bankruptcy.

The Rock is investing in the Kings to help them stay in Sacramento.
 

Mr. S£im Citrus

Doryphore of KingsFans.com
Staff member
#9
Sac mayor Kevin Johnson announced that Richmond was among 20 investors bidding on Bob Cook's 7% of the team that is being auctioned due to bankruptcy.

The Rock is investing in the Kings to help them stay in Sacramento.
Good lookin' out. I smell what the Rock is cookin'!
 
#10
Sac mayor Kevin Johnson announced that Richmond was among 20 investors bidding on Bob Cook's 7% of the team that is being auctioned due to bankruptcy.

The Rock is investing in the Kings to help them stay in Sacramento.
Here's the question I have: 7% of $525 million is almost $37 million. Since each of these 20 is contributing $1 million each, where is the remaining $17 million coming from?
 

Capt. Factorial

This Is Why We Can't Have Nice Things
Staff member
#11
Here's the question I have: 7% of $525 million is almost $37 million. Since each of these 20 is contributing $1 million each, where is the remaining $17 million coming from?
I believe that each of the 20 has pledged at least $1M but I suppose some may go over. It's also possible though not certain (as has been discussed elsewhere) that the $525M valuation is an accounting trick - perhaps up to $100M of the $341M going to buy out the Maloofs may be going towards relocation/loan payoff before the sale is final. If the Maloofs' shares are truly worth $241M, then 7% of $371M (full team value) would be $26M. I'll stress again that we don't actually know that the $525M valuation is an accounting trick. Hansen may be planning to deal with the loan and relocation himself. But the possibility exists.
 
L

LWP777

Guest
#12
Here's the question I have: 7% of $525 million is almost $37 million. Since each of these 20 is contributing $1 million each, where is the remaining $17 million coming from?
Bricklayer sold his law firm and put in the extra $17M. He feels this will get him closer to the GM role someday.