Suns News: Week 7 2/1-2/7
Re: Suns News: Week 7 2/1-2/7
We are even more due to win a Finals.
Re: Suns News: Week 7 2/1-2/7
If he would have known he would live another 15 years and if could have sold for a billion dollars, he probably would have kept them.Charlie Smithy! wrote: ↑Sat Feb 06, 2021 6:23 pmWith the benefit of lots of hindsight, I do wonder how Jerry feels about selling the team. Or if he's ever made any comments regarding sellingSuperbone wrote: ↑Sat Feb 06, 2021 5:46 pmWe're past due for another one. The difference? Sarver.Charlie Smithy! wrote: ↑Sat Feb 06, 2021 5:41 pmComing up on the 30th anniversary of our last finals trip
- Charlie Smithy!
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Re: Suns News: Week 7 2/1-2/7
I wish you would have let him know all this!!Indy wrote: ↑Sat Feb 06, 2021 8:20 pmIf he would have known he would live another 15 years and if could have sold for a billion dollars, he probably would have kept them.Charlie Smithy! wrote: ↑Sat Feb 06, 2021 6:23 pmWith the benefit of lots of hindsight, I do wonder how Jerry feels about selling the team. Or if he's ever made any comments regarding sellingSuperbone wrote: ↑Sat Feb 06, 2021 5:46 pmWe're past due for another one. The difference? Sarver.Charlie Smithy! wrote: ↑Sat Feb 06, 2021 5:41 pmComing up on the 30th anniversary of our last finals trip
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Re: Suns News: Week 7 2/1-2/7
SUNS Fan from the Land of Sun, Sea and Sand
Re: Suns News: Week 7 2/1-2/7
still working on time travel Charlie. I will let your younger self know when I figure it out.Charlie Smithy! wrote: ↑Sat Feb 06, 2021 8:38 pmI wish you would have let him know all this!!Indy wrote: ↑Sat Feb 06, 2021 8:20 pmIf he would have known he would live another 15 years and if could have sold for a billion dollars, he probably would have kept them.Charlie Smithy! wrote: ↑Sat Feb 06, 2021 6:23 pmWith the benefit of lots of hindsight, I do wonder how Jerry feels about selling the team. Or if he's ever made any comments regarding sellingSuperbone wrote: ↑Sat Feb 06, 2021 5:46 pmWe're past due for another one. The difference? Sarver.Charlie Smithy! wrote: ↑Sat Feb 06, 2021 5:41 pmComing up on the 30th anniversary of our last finals trip
Re: Suns News: Week 7 2/1-2/7
What good is a billion dollars to someone already wealthy who doesn’t have that much time left on Earth?
Re: Suns News: Week 7 2/1-2/7
Part of it is that you can pass on that wealth to your children and family. Also more wealth allows you to do bigger things like start foundations, charitable giving, buy more toys, etc.
- The Bobster
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Re: Suns News: Week 7 2/1-2/7
Well, Jerry just sold the team because he had a serious health scare and wanted to take care of his financial affairs.
If he had known he would live this much longer I'm sure he would have very seriously considered holding on to the team.
But then again, maybe he would have still made the same decision.
Also - Jerry didn't own majority interest in the team, he was just controlling shareholder (much like he was with the Diamondbacks). I don't recall off the top of my head what that percentage was, but I'm pretty sure it was less than a quarter. So perhaps it was his partners that wanted to make the move at that time too.
If he had known he would live this much longer I'm sure he would have very seriously considered holding on to the team.
But then again, maybe he would have still made the same decision.
Also - Jerry didn't own majority interest in the team, he was just controlling shareholder (much like he was with the Diamondbacks). I don't recall off the top of my head what that percentage was, but I'm pretty sure it was less than a quarter. So perhaps it was his partners that wanted to make the move at that time too.
Author of The Basketball Draft Fact Book: A History of Professional Basketball's College Drafts
Available from Scarecrow Press at - https://rowman.com/ISBN/9780810890695
Available from Scarecrow Press at - https://rowman.com/ISBN/9780810890695
Re: Suns News: Week 7 2/1-2/7
I forgot about that.The Bobster wrote: ↑Mon Feb 08, 2021 11:00 amWell, Jerry just sold the team because he had a serious health scare and wanted to take care of his financial affairs.
If he had known he would live this much longer I'm sure he would have very seriously considered holding on to the team.
But then again, maybe he would have still made the same decision.
Also - Jerry didn't own majority interest in the team, he was just controlling shareholder (much like he was with the Diamondbacks). I don't recall off the top of my head what that percentage was, but I'm pretty sure it was less than a quarter. So perhaps it was his partners that wanted to make the move at that time too.
- Charlie Smithy!
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Re: Suns News: Week 7 2/1-2/7
Thank you for all of that info, bobster. I had no idea, especially that part.The Bobster wrote: ↑Mon Feb 08, 2021 11:00 amWell, Jerry just sold the team because he had a serious health scare and wanted to take care of his financial affairs.
If he had known he would live this much longer I'm sure he would have very seriously considered holding on to the team.
But then again, maybe he would have still made the same decision.
Also - Jerry didn't own majority interest in the team, he was just controlling shareholder (much like he was with the Diamondbacks). I don't recall off the top of my head what that percentage was, but I'm pretty sure it was less than a quarter. So perhaps it was his partners that wanted to make the move at that time too.
- The Bobster
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Re: Suns News: Week 7 2/1-2/7
Here's what I have in my notes -
12Oct87 - The Phoenix franchise is purchased by Phoenix Suns Limited Partnership, general partners JDM Sports [Jerry J. Colangelo, Edwin C. Lynch, David Eaton, Ross N. Farnsworth and Mel L. Shultz] and limited partners the Dial Corporation, the Greyhound Corporation, the El Dorado Investment Company, the Pinnacle West Capital Corporation, Dick Van Arsdale, Bloch, Diamond and Pitt for $44.5 million and the assumption of $10 million in debt.
6Jan97 - JDM Sports, Inc. [a group of investors headed by Colangelo] purchases the 26% share of the Phoenix franchise held by Viad Corp. [Formerly the Greyhound Corporation] for $31.5 million, giving JDM Sports 36% ownership.
12Oct87 - The Phoenix franchise is purchased by Phoenix Suns Limited Partnership, general partners JDM Sports [Jerry J. Colangelo, Edwin C. Lynch, David Eaton, Ross N. Farnsworth and Mel L. Shultz] and limited partners the Dial Corporation, the Greyhound Corporation, the El Dorado Investment Company, the Pinnacle West Capital Corporation, Dick Van Arsdale, Bloch, Diamond and Pitt for $44.5 million and the assumption of $10 million in debt.
6Jan97 - JDM Sports, Inc. [a group of investors headed by Colangelo] purchases the 26% share of the Phoenix franchise held by Viad Corp. [Formerly the Greyhound Corporation] for $31.5 million, giving JDM Sports 36% ownership.
Author of The Basketball Draft Fact Book: A History of Professional Basketball's College Drafts
Available from Scarecrow Press at - https://rowman.com/ISBN/9780810890695
Available from Scarecrow Press at - https://rowman.com/ISBN/9780810890695