Thread: Zygi Wilf refinances his debt

i_bleed_purple wrote:

Marrdro wrote:

i_bleed_purple wrote:

Marrdro wrote:

jargomcfargo wrote:

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

Makes one wonder if he has the financial strength to be any kind of partner in a stadium venture.

Is he looking to hit the jackpot with public financing?

Makes one wonder how rich a rich man actually is....

My guess, as with most owners, very few of them can go ahead and finance a stadium out of pocket. Thats why they ask for help.

I get the impression he's not as rich as we would like to believe.

As much as it pains me, we need a guy like Jerry jones. He'd have this done.

Banish the thought. There are alot more owners (who don't act as the team GM) out there who need help with respect to stadium finances than those that don't (and act as the GM).

What we need is a bit of vision and for thought with respect to the MN leadership when it comes to bringing in businesses/keeping businesses in the state that are money producers instead of a drain on the taxpayers.

Alas, every effort to get this done has met with resistance all the way to the top of those leaders. The worst part, is the spin that is being put on it.

why? Jerry Jones has put a good team on the field for the last 5 years. I believe that their shortcomings started with TO, and now rest with the coaching staff. The Tuna did a good job getting what he had playing decently, Phillips isn't doing as good with IMO, a better roster.

Jones however, Went out and built the biggest sporting stadium in the world, with a screen that cost as much as their old stadium. If you need a guy to go get something done. JJ seems like the man for the job.

A "Good Team" yes, a "Great Team", well I think thier record bares witness to that.

This years team has clear issues at:
a. S
b. WR
c. T

With possible issues at:
a. RB
b. LB

In short, alot of things need to come together this year.

Marrdro wrote:

i_bleed_purple wrote:

Marrdro wrote:

i_bleed_purple wrote:

Marrdro wrote:

jargomcfargo wrote:

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

Makes one wonder if he has the financial strength to be any kind of partner in a stadium venture.

Is he looking to hit the jackpot with public financing?

Makes one wonder how rich a rich man actually is....

My guess, as with most owners, very few of them can go ahead and finance a stadium out of pocket. Thats why they ask for help.

I get the impression he's not as rich as we would like to believe.

As much as it pains me, we need a guy like Jerry jones. He'd have this done.

Banish the thought. There are alot more owners (who don't act as the team GM) out there who need help with respect to stadium finances than those that don't (and act as the GM).

What we need is a bit of vision and for thought with respect to the MN leadership when it comes to bringing in businesses/keeping businesses in the state that are money producers instead of a drain on the taxpayers.

Alas, every effort to get this done has met with resistance all the way to the top of those leaders. The worst part, is the spin that is being put on it.

why? Jerry Jones has put a good team on the field for the last 5 years. I believe that their shortcomings started with TO, and now rest with the coaching staff. The Tuna did a good job getting what he had playing decently, Phillips isn't doing as good with IMO, a better roster.

Jones however, Went out and built the biggest sporting stadium in the world, with a screen that cost as much as their old stadium. If you need a guy to go get something done. JJ seems like the man for the job.

A "Good Team" yes, a "Great Team", well I think thier record bares witness to that.

This years team has clear issues at:
a. S
b. WR
c. T

With possible issues at:
a. RB
b. LB

In short, alot of things need to come together this year.

He's put together a great group of players, who don't seem to be playing together as well as they shoudl be.

That lies with the coach.

RB: Choice, Barber, Jones, all have skill, and all can be very effective if used properly. I think their backfield is too crowded, and they try to give everyone some touches, so nobody can really get going as well.

LB: Maybe, I'm not as familiar with their LB depth, but hey have some pretty good starters, with Ware obviously being a star in the league.

OL: Yes, some issues there, some guys getting old/cut

S: No worse off than we are, and you seem to think we're fine.

WR: Depends on Austin really. If Austin can actually keep playing well, they could be set as long as Roy Williams can keep his ego in check. Crayton, Williams and Austin is a decent top three.

i_bleed_purple wrote:

Marrdro wrote:

jargomcfargo wrote:

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

Makes one wonder if he has the financial strength to be any kind of partner in a stadium venture.

Is he looking to hit the jackpot with public financing?

Makes one wonder how rich a rich man actually is....

My guess, as with most owners, very few of them can go ahead and finance a stadium out of pocket. Thats why they ask for help.

I get the impression he's not as rich as we would like to believe.

As much as it pains me, we need a guy like Jerry jones. He'd have this done.

Jones still recieved 325million in public money. Originally that was supposed to be 50% of the total cost. Jerry did pay the cost overruns.
Also it should be noted that Jones talked about a new [strike]stadium[/strike]deathstar since 1994. It took him 15 years to get it done.

LAvikings

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

What are you talking about?

He refinanced an existing debt. That means that over the past five years, he has paid down $40 million against the debt. That puts the original load to be right around a 20 year loan. It isn't like he had an existing $40 million lying around and didn't know what to do with it - he was making payments and decided to refinance the remaining debt, probably to save money in interest.

It kills me how so many people seem to think that rich means unlimited funds... Zygi made his money in real estate and commercial development. Hate to tell you guys, but that isn't exactly a strong sector to be in right now.

Marrdro wrote:

jargomcfargo wrote:

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

Makes one wonder if he has the financial strength to be any kind of partner in a stadium venture.

Is he looking to hit the jackpot with public financing?

Makes one wonder how rich a rich man actually is....

My guess, as with most owners, very few of them can go ahead and finance a stadium out of pocket. Thats why they ask for help.

Somebody gets it...

NodakPaul wrote:

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

What are you talking about?

He refinanced an existing debt. That means that over the past five years, he has paid down $40 million against the debt. That puts the original load to be right around a 20 year loan. It isn't like he had an existing $40 million lying around and didn't know what to do with it - he was making payments and decided to refinance the remaining debt, probably to save money in interest.

It kills me how so many people seem to think that rich means unlimited funds... Zygi made his money in real estate and commercial development. Hate to tell you guys, but that isn't exactly a strong sector to be in right now.

Your reading way to much into what I wrote.
Just saying we need a stadium, that is all.

If you read my follow up post I point out that it's probably just to save some interest, and a new loan will be made to finance a stadium(hopefully sooner rather than later).

PS. not sure about the 20 year thing, I would think he's on pace for a substantially shorter period. A 20 year loan is not normally 25% paid off in 5 years.

jmcdon00 wrote:

i_bleed_purple wrote:

Marrdro wrote:

jargomcfargo wrote:

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

Makes one wonder if he has the financial strength to be any kind of partner in a stadium venture.

Is he looking to hit the jackpot with public financing?

Makes one wonder how rich a rich man actually is....

My guess, as with most owners, very few of them can go ahead and finance a stadium out of pocket. Thats why they ask for help.

I get the impression he's not as rich as we would like to believe.

As much as it pains me, we need a guy like Jerry jones. He'd have this done.

Jones still recieved 325million in public money. Originally that was supposed to be 50% of the total cost. Jerry did pay the cost overruns.
Also it should be noted that Jones talked about a new [strike]stadium[/strike]deathstar since 1994. It took him 15 years to get it done.

yeah,imagine if we had a guy with his pockets for the past 10 years even. We Could have an awesome stadium, even 2/3s the size of the Cowboys Stadium and be set.

JJ WANTED (not needed) a new stadium. If they absolutely had to, They could play in the old one for a few more years. They aren't dead last in the league for revenue.

Funny how so much gets read into a simple statement like "zygi pays off $40M on a $175M note" including the referenced conjecture in the article by Florio.

There are a myriad of reasons why he may have paid off early, as there are a number of reasons why he may have taken the loan in the first place. Most wealthy people in this world are experts at dealing with debt leverage, I suspect Zygi knows a few things about this as well.

This guy is closer to reality than Florio.

EverybodyGotAIDS says:
June 21, 2010 12:37 PM
With those payments, the owners have a lot of leverage; without them, the pendulum swings decidedly toward the players.
______________

Nah, because even in a lockout, the franchises still hold a good chunk of value. You'll be able to find somebody who can float you the cash until the NFL gets going again. Everyone knows it's just a matter of time.

The players, on the other hand, spend their money on child support to their myriad of baby mommas and, of course, bling, so good luck to them if they have to make it without a paycheck for a year.

NodakPaul wrote:

Marrdro wrote:

jargomcfargo wrote:

jmcdon00 wrote:

Not sure what to make of this. Sure wish he was using the 40million as a downpayment for a new stadium.

Makes one wonder if he has the financial strength to be any kind of partner in a stadium venture.

Is he looking to hit the jackpot with public financing?

Makes one wonder how rich a rich man actually is....

My guess, as with most owners, very few of them can go ahead and finance a stadium out of pocket. Thats why they ask for help.

Somebody gets it...

You mean we actually agree on something or a change? :huh: