Phx-Suns.Net

We are even more due to win a Finals.

Charlie Smithy! wrote: ↑

Sat Feb 06, 2021 6:23 pm

Superbone wrote: ↑

Sat Feb 06, 2021 5:46 pm

Charlie Smithy! wrote: ↑

Sat Feb 06, 2021 5:41 pm

Coming up on the 30th anniversary of our last finals trip

We're past due for another one. The difference? Sarver.

With 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 selling

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.

Indy wrote: ↑

Sat Feb 06, 2021 8:20 pm

Charlie Smithy! wrote: ↑

Sat Feb 06, 2021 6:23 pm

Superbone wrote: ↑

Sat Feb 06, 2021 5:46 pm

Charlie Smithy! wrote: ↑

Sat Feb 06, 2021 5:41 pm

Coming up on the 30th anniversary of our last finals trip

We're past due for another one. The difference? Sarver.

With 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 selling

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.

I wish you would have let him know all this!!

He’s a well spoken young man, as one might say.

Charlie Smithy! wrote: ↑

Sat Feb 06, 2021 8:38 pm

Indy wrote: ↑

Sat Feb 06, 2021 8:20 pm

Charlie Smithy! wrote: ↑

Sat Feb 06, 2021 6:23 pm

Superbone wrote: ↑

Sat Feb 06, 2021 5:46 pm

Charlie Smithy! wrote: ↑

Sat Feb 06, 2021 5:41 pm

Coming up on the 30th anniversary of our last finals trip

We're past due for another one. The difference? Sarver.

With 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 selling

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.

I wish you would have let him know all this!!

still working on time travel Charlie. I will let your younger self know when I figure it out.

What good is a billion dollars to someone already wealthy who doesn’t have that much time left on Earth?

Nodack wrote: ↑

Mon Feb 08, 2021 9:15 am

What good is a billion dollars to someone already wealthy who doesn’t have that much time left on Earth?

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.

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.

The Bobster wrote: ↑

Mon Feb 08, 2021 11:00 am

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.

I forgot about that.

The Bobster wrote: ↑

Mon Feb 08, 2021 11:00 am

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.

Thank you for all of that info, bobster. I had no idea, especially that part.

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.