The Brooks extension is better than I thought it would be, I just don't think it will age well unless he's willing to drastically change his game.
He's at the apex of his career right now, and it's a 3-year contract that'll expire when he's 34. It's also yet to be disclosed if the final year will have some type of option.
He's not going to change his game, so I think your distaste for watching him play is clouding your assessment of the contract.
The Brooks extension is better than I thought it would be, I just don't think it will age well unless he's willing to drastically change his game.
He's at the apex of his career right now, and it's a 3-year contract that'll expire when he's 34. It's also yet to be disclosed if the final year will have some type of option.
He's not going to change his game, so I think your distaste for watching him play is clouding your assessment of the contract.
It's very good value for the Suns.
I don’t like watching him play but I acknowledged it’s good value. How it ages to me is less about him and more about the players we put around him. And if we’re committed to starting Bridges, Booker and Green, then Brooks digging in on his style of overdribbling into tough middies while his teammates stand around may net him 20 a game, but we won’t be successful as a team.
I think if he really leans into the defensive role, puts in a little more effort on the boards, and aims to finish more plays with catch and shoot 3s, it would go a really long way.
This is like really, really bad. Possible that Ish had to collateralize his Suns share, also possible that he wasn't allowed to by the NBA.
The causes this time were a huge loss after an interest-rate hedge blew up, the suspension of its dividend, and a $2 billion equity infusion from Oak Tree Capital Management, the largest distressed-debt investor in the world, and from the Ishbia family, at a price that’s going to dilute the bejesus out of the public shareholders. The Ishbia family still owns a controlling stake, so no problem pulling that off.
I wouldn’t call it Hope. Far from perfect, but at least he cares.
Besides, I think there is a rule regarding selling this team, that said you have to include a contending level roster ready to be dismantled for the buyer. So we are safe.
It sounds like Ishbia's UWM company stock is really cratering. It was worth 6.91 per share last September, but today it's at 1.28. It's lost over 80% of its value. I made a snide comment about selling, but seriously, Ishbia has lost billions of dollars of his net worth in the past year. It has to have a big impact on his finances and it might have a big impact on how he wants to run the team.
Nah, he's still worth billions, I don't think anything changes on his team front.
I hope you're right. I like our direction since the KD fiasco for the most part (I'm on record saying I wouldn't have pursued Bridges.) But I do know it really bothers me when my net worth dips even just 10% even though it shouldn't. I should be prepared for 50% market drops. 80%?! That would freak me the f out.
Nah, he's still worth billions, I don't think anything changes on his team front.
FWIW, Google AI says that Ishbia's net worth has dropped from around $9.1 billion to $5.8 billion. You might say, hey, almost 6 billion dollars is still great, I'd be happy to have that. And sure, of course. But a key fact here is that over $4 billion of Ishbia's current $5.8 billion net worth is the value of his ownership of the Suns and Mercury franchises. So that really means that he has a pretty small amount of actual other assets besides just owning this team, only around $1.7 billion if you combine all of his other assets. That is actually a pretty concerningly small number for an NBA owner. Just paying the Suns players' salaries each season costs over $160 million, to say nothing of all the other operating costs. He's down to an amount of money where he might think twice about signing players to big contracts or making other large investments in the team. Hopefully it doesn't do anything to make him a worse owner (such as enticing him to sell off future draft picks or trade players strictly for cash/cap savings).
Ishbia hasn't lost any actual income. He only lost theoretical value on stock he owns. For now, it just means that he can't leverage that stock as collateral for other moves. He was NOT planning to pay the Suns day-to-day expenses by selling off his mortgage company.
"Hey, Jane - get me off this crazy thing called love." - Charlie, but also Suns fans wishing we didn't have to watch more 4th quarter small ball but knowing we will tune in for the next game.
I don't really know how Ishbia does his day-to-day expenses such as paying out player salaries. But it has to matter that he has lost over 80% of his net worth outside of ownership of the team itself. You are right that it's just numbers in a computer, and that if the stock goes back up, so does his net worth. The loss is not "realized" unless he sells now. But still, being down over 80% is a real thing to be worried about if you had any need of that money anytime soon. What if your 401k plummeted by 80% and you were upset, and then I told you, don't worry, you didn't lose any actual income, only theoretical value? I don't think you'd find too much comfort in that.
