Thread: The economy and two money-losing teams

[size=18pt]The economy and two money-losing teams[/size]
Posted by ESPN.com's Kevin Seifert

http://myespn.go.com/blogs/nfcnorth/0-7-157/The-economy-and-two-money-losing-teams.html

Guess which team is one of them.

Wow!
I knew it was bad, but not that bad!
D'oh!

The Vikings, for one, bring in the least gross revenues of any team in the NFL, according to Forbes magazine.

Dan!
How long can/will they sustain this loss without hope of a new stadium?
???

Also, it's only fair to point out that Forbes now considers the Vikings to be worth $839 million, or about 30 percent more than the $600 million Wilf paid for it. If and when he sells, Wilf likely will get all of his money back -- and then some.

This is a good sign!

"marstc09" wrote:

Also, it's only fair to point out that Forbes now considers the Vikings to be worth $839 million, or about 30 percent more than the $600 million Wilf paid for it. If and when he sells, Wilf likely will get all of his money back -- and then some.

This is a good sign!

Yes, that is a good sign...it's also a 40% increase in value.

"VikingMike" wrote:

"marstc09" wrote:

Also, it's only fair to point out that Forbes now considers the Vikings to be worth $839 million, or about 30 percent more than the $600 million Wilf paid for it. If and when he sells, Wilf likely will get all of his money back -- and then some.

This is a good sign!

Yes, that is a good sign...it's also a 40% increase in value.

I caught that too lol

"Mr" wrote:

"VikingMike" wrote:

"marstc09" wrote:

Also, it's only fair to point out that Forbes now considers the Vikings to be worth $839 million, or about 30 percent more than the $600 million Wilf paid for it. If and when he sells, Wilf likely will get all of his money back -- and then some.

This is a good sign!

Yes, that is a good sign...it's also a 40% increase in value.

I caught that too lol

The guy must have divided it by 839 instead of 600.

Yes but think of how much this team would be worth with a brand new, $800M stadium in freaking Los Angeles. Wilf would be ROLLING in it if he moved the team.

We are in a dire situation Vikings fans...

"Ltrey" wrote:

Yes but think of how much this team would be worth with a brand new, $800M stadium in freaking Los Angeles. Wilf would be ROLLING in it if he moved the team.

We are in a dire situation Vikings fans...

the latest news is that the Chargers are going to L.A so we are safe

"Ltrey" wrote:

Yes but think of how much this team would be worth with a brand new, $800M stadium in freaking Los Angeles. Wilf would be ROLLING in it if he moved the team.

We are in a dire situation Vikings fans...

Good point. We should hurry up and buy Wilf a stadium so he can roll in his money here.
I hope LA isn't planning on any state funding, it seems they are having there own money problems.
http://www.mercurynews.com/breakingnews/ci_11567631
[size=16pt]Counting on your California tax refund? Don't hold your breath[/size]
By Mike Zapler


Mercury News

Posted: 01/27/2009 06:17:21 PM PST

Starting in February, state Controller John Chiang plans to suspend some $3.7 billion in scheduled payments for at least 30 days. Among those not getting paid: taxpayers who file early awaiting their refunds, programs that help the poor and disabled and college students who rely on grants for tuition, housing and textbooks.

If the impasse stretches into March, Chiang would have to delay another, presumably larger batch of payments. Sometime after that � Chiang and others aren't ready to predict when � the state may have to issue IOUs to vendors, taxpayers and other recipients of state funds. And should the standoff last until May or June, even payments to schools and holders of state debt, which receive a higher priority because they're mandated by law, could be put at risk.

"VikingMike" wrote:

"marstc09" wrote:

Also, it's only fair to point out that Forbes now considers the Vikings to be worth $839 million, or about 30 percent more than the $600 million Wilf paid for it. If and when he sells, Wilf likely will get all of his money back -- and then some.

This is a good sign!

Yes, that is a good sign...it's also a 40% increase in value.

It is a horrible sign.
Negative yearly revenue with an increase in net worth means that Wilf would do much better to sell the Vikings than keep them.
How do you consider that
a good sign?

Think of it this way.
Let's say you buy a house for $300k in 2006.
In the past three years, you have sunk an additional $25k into it for upkeep, remodeling, etc.
The net value of the house is currently $419k.
Does that mean that you have an extra $119k lying around?
Nope, you are still in the red for the $25k.
You will NOT recoup that money unless you sell the house.


This is where Wilf is at.
He can't continue to pump additional capitol into the Vikings indefinately.
Eventually the organization will have to become self supporting or he will be forced to sell the team.
The way to get the team to a self supporting state is to build a new stadium.
Whether done privately or publicly, it needs to be done or the team will move.