Walmart Buys Broncos

[Patrick Duffy]

4 minutes ago, Putin said:

I’m pretty sure most of the teams don’t have any financial issues either , except maybe the Raiders 

Lol, still can't understand with all the money Mark Davis has, that's the best haircut he comes up with

[DCofNC]

I would have been more excited if somebody from Costco bought it, it would have been great to get a $1.99 hotdog and soda, or a whole Pizza for the cost of a beer at most places.

 

Either way, I’m sure they will get sweet volume discounts on numerous goods. Maybe they can get a decent deal on a herd of QBs.

[djp14150]

In other news…Elway lost millions when I didn’t take an ownership stake before he retired because he was owed money

[Big Turk]

1 hour ago, Putin said:

I’m pretty sure most of the teams don’t have any financial issues either , except maybe the Raiders 

 

It's about signing bonuses and doing out large sims up front

[SMAKCruiser]

I thought Scorpio bought it for Homer...

[The Dean]

1 hour ago, SMAKCruiser said:

I thought Scorpio bought it for Homer...

 

😄  That actually aired earlier tonight

[Just Jack]

2 hours ago, SMAKCruiser said:

I thought Scorpio bought it for Homer...

[Milanos Milano]

8 hours ago, Big Turk said:

 

It absolutely is not. Because Walmart buying them would constitute decisions being made by the Board of Directors versus a single person and decisions made would reflect Walmart decisions. It's irrelevant how many shares they own of it, they are acting as their own entity having nothing to do with a Board of Directors from that company. Not to mention all of the ramifications legally and financially that are completely different if they were owned by a publicly traded company.

I’ve already said that Walmart the company is not buying the Broncos. But the owners of Walmart are. They have basically taken the profits over the years that Walmart yielded them to be able to do this. Hence why I said it’s technically Walmart money, not the company. 

[cba fan]

19 hours ago, Scott7975 said:

 

Do they even tear down their old buildings?  I thought most of them are just left to rot.

yes most of them. Gordmans moved into some. Then sadly died during Covid shutdown. 

In my area one was smartly remodeled into a Farm and Fleet. Sort of a Lowes or Menards geared for Farmers. W car repair garages too.

And Walmart execs in abandoning mode......take note...Farm and Fleet original building right next door was demolished and replaced with  Casey's convivence store and gas.  Also a bank.

 

I mean check out how sweet this redo is. https://www.google.com/maps/uv?pb=!1s0x88086bd3a539ea05%3A0xf38fac260fd3f277!3m1!7e115!4shttps%3A%2F%2Flh5.googleusercontent.com%2Fp%2FAF1QipP2fJArlqTBz1ZrlNy7Ck5nl3eegElZYJ_pkdMJ%3Dw240-h160-k-no!5sfarm and fleet freeport il - Google Search!15sCgIgAQ&imagekey=!1e10!2sAF1QipP2fJArlqTBz1ZrlNy7Ck5nl3eegElZYJ_pkdMJ&hl=en&sa=X&ved=2ahUKEwjZxJ3O_5z4AhWot4QIHc_qB-oQoip6BAhVEAM

[LVGrown]

13 hours ago, djp14150 said:

In other news…Elway lost millions when I didn’t take an ownership stake before he retired because he was owed money

900 million!! Damn!!!

[PromoTheRobot]

The $1.4B Terry Pegula paid seems like pocket change now.

[TBBills]

9 minutes ago, PromoTheRobot said:

The $1.4B Terry Pegula paid seems like pocket change now.

With the new stadium and a franchise QB his investment seems to be paying off.

[Shake_My_Head]

14 hours ago, ControllerOfPlanetX said:

Twin Fair to buy the Browns.

More like Dollar General.

 

 

[RoyBatty is alive]

1 hour ago, LVGrown said:

900 million!! Damn!!!

Here is more to that story.

 

 

Back in 1998, his final NFL season, team owner Pat Bowlen came to John with an offer. At the time, John was owed $21 million in deferred salary (à la Bobby Bonilla). Bowlen's offer was simple:

#1: John could buy 10% of the team for $15 million.

#2: John could have another 10% if he agreed to relinquish the $21 million deferred salary.

In other words, for a combined $36 million (with only $15 million of cash coming out of his bank on day one), John Elway could have bought 20% of the Broncos. At that level, Bowlen was offering 20% of the Broncos at a $180 million overall team valuation.

As if that offer wasn't generous enough, Pat gave John a 100% risk-free insurance policy. If after five years John wanted out, he could sell his stake back to Bowlen for his purchase price plus $5 million. So not only risk free, literally get paid $5 million if he changed his mind.

And in case you are wondering if Elway could have afforded $15 million down in 1998, at that point he had earned $50 million in NFL salary, around $20 million from endorsements AND just one year earlier had sold his John Elway Autos franchise for $82.5 million.

So $15 million for a risk-free opportunity to own 20% of an NFL team. What did John decide?

He declined. And today that officially became an absolutely horrendous decision…

As if that wasn't painful enough, there's more pain in this story for John Elway. Instead of buying 20% of the Broncos, John ended up taking that same down payment amount, $15 million, and invested it in what eventually proved to be a $150 million Ponzi scheme. Not only did John NOT make any return on the $15 million, he lost a bit more than half of his investment.

So in essence, instead of taking $15 million and turning it into $900 million, John took $15 million and turned it into $7 million 

[Bob Chandler's Hands]

11 hours ago, IronMaidenBills said:

I’ve already said that Walmart the company is not buying the Broncos. But the owners of Walmart are. They have basically taken the profits over the years that Walmart yielded them to be able to do this. Hence why I said it’s technically Walmart money, not the company. 

Your understanding of finance and legal entities and how corporations work is astoundingly incorrect, yet it doesn't stop you from continuing to double down on it. Impressive.  

[Scott7975]

1 hour ago, RoyBatty is alive said:

Here is more to that story.

 

 

Back in 1998, his final NFL season, team owner Pat Bowlen came to John with an offer. At the time, John was owed $21 million in deferred salary (à la Bobby Bonilla). Bowlen's offer was simple:

#1: John could buy 10% of the team for $15 million.

#2: John could have another 10% if he agreed to relinquish the $21 million deferred salary.

In other words, for a combined $36 million (with only $15 million of cash coming out of his bank on day one), John Elway could have bought 20% of the Broncos. At that level, Bowlen was offering 20% of the Broncos at a $180 million overall team valuation.

As if that offer wasn't generous enough, Pat gave John a 100% risk-free insurance policy. If after five years John wanted out, he could sell his stake back to Bowlen for his purchase price plus $5 million. So not only risk free, literally get paid $5 million if he changed his mind.

And in case you are wondering if Elway could have afforded $15 million down in 1998, at that point he had earned $50 million in NFL salary, around $20 million from endorsements AND just one year earlier had sold his John Elway Autos franchise for $82.5 million.

So $15 million for a risk-free opportunity to own 20% of an NFL team. What did John decide?

He declined. And today that officially became an absolutely horrendous decision…

As if that wasn't painful enough, there's more pain in this story for John Elway. Instead of buying 20% of the Broncos, John ended up taking that same down payment amount, $15 million, and invested it in what eventually proved to be a $150 million Ponzi scheme. Not only did John NOT make any return on the $15 million, he lost a bit more than half of his investment.

So in essence, instead of taking $15 million and turning it into $900 million, John took $15 million and turned it into $7 million 

 

Wow what a dumb ass.  Reminds me of when I was a kid and begged my parents to get Microsoft stock.  Sigh.

[WhoTom]

2 hours ago, RoyBatty is alive said:

So in essence, instead of taking $15 million and turning it into $900 million, John took $15 million and turned it into $7 million 

 

Maybe he'll take that $7M and invest in something smart, like cryptocurrency. 😁

[Milanos Milano]

2 hours ago, Bob Chandler's Hands said:

Your understanding of finance and legal entities and how corporations work is astoundingly incorrect, yet it doesn't stop you from continuing to double down on it. Impressive.  

Where do you think the Waltons got their money? From investing in Microsoft? Lol 

[WhoTom]

1 hour ago, IronMaidenBills said:

Where do you think the Waltons got their money? From investing in Microsoft? Lol 

 

 

Suppose Walmart was found liable for some heinous offense and had its assets frozen. Are the Broncos part of those assets? No. That's why business owners set up corporations - to separate their personal assets from those of the company. Money made via Walmart may have bought the team, but Walmart as an entity did not.

 

I assume most of your money came from your job. When you use some of that money to buy a car, would you say your employer bought the car for you?

 

 

 

[machine gun kelly]

No Walmart will not own the Broncos, the Walton family will own it just like ATL is not owned by Home Depot, it’s owned by Arthur Blank.

 

I do think it could be interesting how Walmart could provide concessions at Pennie’s on the dollar the team would still make an obscene profit with modest prices.

 

You want a single owner like the NFL wants to not have companies own a team.  It keeps things clean.  The other owners must be drueling they will be allowing their now richest owner by three fold dwarfing Kronke, Jones, Glazers, the Allen family, Tepper, etc.  Walton is one of the richest men in America.  That vote is a formality.  
 

Consider hell buy that team for $4.65 bil., and will spend probably another $5 bil. Ina SoFi type stadium.  Anyone up for a Denver SB in 2030?  Sounds like a great ski week with finishing off the Bills winning the SB!

 

Go Bills!