Thread: Bids end on Star Tribune's land - Vikings the likeliest buyer

"seaniemck7" wrote:

"Mr" wrote:

"Zeus" wrote:

"singersp" wrote:

Well once that's sold, kiss the idea of a new downtown stadium in that area goodbye. Wilf needed that area to build the new stadium & with the lack of funds, he is unable to purchase it now.

What lack of funds?
Where's the documentation of this?
It wasn't in that article.

What was in that article is that the STrib's parent company is asking twice the assessed value of the land for the purchase, which, in today's market, is just plain silly.

He should sell one of his malls here in Jersey, I think he owns "The Short Hills Mall" in Short Hills, NJ, like 20 minutes from my house. He owns a ton of property in NJ, all of which could sell for big bucks, so I doubt there's a shortage of funds.

Well he did have to put a call into his investors to pay JA his $15M signing bonus...

Standard move in the NFL.
And totally separate from anything to do with the money for this transaction, as far as I can tell.

=Z=

"seaniemck7" wrote:

"Mr" wrote:

"Zeus" wrote:

"singersp" wrote:

Well once that's sold, kiss the idea of a new downtown stadium in that area goodbye. Wilf needed that area to build the new stadium & with the lack of funds, he is unable to purchase it now.

What lack of funds?
Where's the documentation of this?
It wasn't in that article.

What was in that article is that the STrib's parent company is asking twice the assessed value of the land for the purchase, which, in today's market, is just plain silly.

=Z=

He should sell one of his malls here in Jersey, I think he owns "The Short Hills Mall" in Short Hills, NJ, like 20 minutes from my house. He owns a ton of property in NJ, all of which could sell for big bucks, so I doubt there's a shortage of funds.

Well he did have to put a call into his investors to pay JA his $15M signing bonus...

3 of his investors are his brothers Mark, Jeffery, and Leonard. The other two are Reggie Fowler, Art Landis, and David Mandlebaum.

He's not the sole owner of the team, he just owns the most of it, so he gets the official title of "Owner", the other guys have to do their part as well.

"seaniemck7" wrote:

"Mr" wrote:

"Zeus" wrote:

"singersp" wrote:

Well once that's sold, kiss the idea of a new downtown stadium in that area goodbye. Wilf needed that area to build the new stadium & with the lack of funds, he is unable to purchase it now.

What lack of funds?
Where's the documentation of this?
It wasn't in that article.

What was in that article is that the STrib's parent company is asking twice the assessed value of the land for the purchase, which, in today's market, is just plain silly.

=Z=

He should sell one of his malls here in Jersey, I think he owns "The Short Hills Mall" in Short Hills, NJ, like 20 minutes from my house. He owns a ton of property in NJ, all of which could sell for big bucks, so I doubt there's a shortage of funds.

Well he did have to put a call into his investors to pay JA his $15M signing bonus...

The Vikings organization needed additional funds.
Zygi Wilf, as a corporate entity, is not in any financial hardships as far as I know.
I would assume that he is putting a bid in for the land, but who knows what it will go for.

The only way that land is valuable is if a Vikings stadium is built, which poses a quandary for outside investors.
If they pay too much for the land in hopes of reselling it to the Vikings for the stadium, they could push prices too high to make it viable, and Wilf goes to another part of the metro.
If they pay too little for it, they devalue the land.

Hello L.A.

"Zeus" wrote:

"Marrdro" wrote:

Maybe the Trib wouldn't be in such financial trouble if they had some decent reporters.

I read the entire STrib every day, and that comment is ludicrous.

=Z=

From who's perspective?
I just barley read thier sports stuff these days.
Nothing spectacular coming out of those boys of late.

Hell, when was the last time any of thier sports reporters actually reported anything of note that they dug up on thier own?

"Marrdro" wrote:

"Zeus" wrote:

"Marrdro" wrote:

Maybe the Trib wouldn't be in such financial trouble if they had some decent reporters.

I read the entire STrib every day, and that comment is ludicrous.

From who's perspective?
I just barley read thier sports stuff these days.
Nothing spectacular coming out of those boys of late.

Hell, when was the last time any of thier sports reporters actually reported anything of note that they dug up on thier own?

By your own admittance, you barely read the sports section.
So, you have no idea if their political, local or any other reporters are any good, yes?

So using that brush to paint all of them as hacks simply because of a bias you have towards Judd Zulgad and Kevin Seifert (the Vikings beat guys) does them a disservice.

Michael Russo is a GREAT hockey writer.
I love his work and he has broken MANY stories on the Wild.
Jaques Lemieux's return for the 2008-09 season, for example, just the past weekend.

=Z=

"NodakPaul" wrote:

"seaniemck7" wrote:

"Mr" wrote:

"Zeus" wrote:

"singersp" wrote:

Well once that's sold, kiss the idea of a new downtown stadium in that area goodbye. Wilf needed that area to build the new stadium & with the lack of funds, he is unable to purchase it now.

What lack of funds?
Where's the documentation of this?
It wasn't in that article.

What was in that article is that the STrib's parent company is asking twice the assessed value of the land for the purchase, which, in today's market, is just plain silly.

=Z=

He should sell one of his malls here in Jersey, I think he owns "The Short Hills Mall" in Short Hills, NJ, like 20 minutes from my house. He owns a ton of property in NJ, all of which could sell for big bucks, so I doubt there's a shortage of funds.

Well he did have to put a call into his investors to pay JA his $15M signing bonus...

The Vikings organization needed additional funds.
Zygi Wilf, as a corporate entity, is not in any financial hardships as far as I know.
I would assume that he is putting a bid in for the land, but who knows what it will go for.

The only way that land is valuable is if a Vikings stadium is built, which poses a quandary for outside investors.
If they pay too much for the land in hopes of reselling it to the Vikings for the stadium, they could push prices too high to make it viable, and Wilf goes to another part of the metro.
If they pay too little for it, they devalue the land.

The money paid for Allen was from the Vikings orginazation, ehich has no positive cash flow.....hence the need for a new stadium.
The money paid for the star trib land could come from Zigy himself, his business, or the pockets of the ownership group.
Just because he needed to call for bonus money does not mean he does not have the flow for some land.........especially since he is a land developer to begin with. :

"A2-D8" wrote:

"NodakPaul" wrote:

"seaniemck7" wrote:

"Mr" wrote:

"Zeus" wrote:

[quote author=singersp link=topic=44920.msg778324#msg778324 date=1210676728]
Well once that's sold, kiss the idea of a new downtown stadium in that area goodbye. Wilf needed that area to build the new stadium & with the lack of funds, he is unable to purchase it now.

What lack of funds?
Where's the documentation of this?
It wasn't in that article.

What was in that article is that the STrib's parent company is asking twice the assessed value of the land for the purchase, which, in today's market, is just plain silly.

=Z=

He should sell one of his malls here in Jersey, I think he owns "The Short Hills Mall" in Short Hills, NJ, like 20 minutes from my house. He owns a ton of property in NJ, all of which could sell for big bucks, so I doubt there's a shortage of funds.

Well he did have to put a call into his investors to pay JA his $15M signing bonus...

The Vikings organization needed additional funds.
Zygi Wilf, as a corporate entity, is not in any financial hardships as far as I know.
I would assume that he is putting a bid in for the land, but who knows what it will go for.

The only way that land is valuable is if a Vikings stadium is built, which poses a quandary for outside investors.
If they pay too much for the land in hopes of reselling it to the Vikings for the stadium, they could push prices too high to make it viable, and Wilf goes to another part of the metro.
If they pay too little for it, they devalue the land.

The money paid for Allen was from the Vikings orginazation, ehich has no positive cash flow.....hence the need for a new stadium.
The money paid for the star trib land could come from Zigy himself, his business, or the pockets of the ownership group.
Just because he needed to call for bonus money does not mean he does not have the flow for some land.........especially since he is a land developer to begin with. :
[/quote]

Do you know that to be true?

Vikings Owner Literally Couldn't Afford Jared Allen

To ensure cash flow in light of Allen's historic $74 million contract, owner Zygi Wilf issued a capital call for just under $20 million to his investment partners, according to people with knowledge of the situation.

If he had to call on the investors to acquire Allen, what makes everyone so sure he has enough money to buy the Trib land that will sell for 3 to 4 times Allen's signing bonus?

"singersp" wrote:

"A2-D8" wrote:

"NodakPaul" wrote:

"seaniemck7" wrote:

"Mr" wrote:

[quote author=Zeus link=topic=44920.msg778370#msg778370 date=1210685514]
[quote author=singersp link=topic=44920.msg778324#msg778324 date=1210676728]
Well once that's sold, kiss the idea of a new downtown stadium in that area goodbye. Wilf needed that area to build the new stadium & with the lack of funds, he is unable to purchase it now.

What lack of funds?
Where's the documentation of this?
It wasn't in that article.

What was in that article is that the STrib's parent company is asking twice the assessed value of the land for the purchase, which, in today's market, is just plain silly.

=Z=

He should sell one of his malls here in Jersey, I think he owns "The Short Hills Mall" in Short Hills, NJ, like 20 minutes from my house. He owns a ton of property in NJ, all of which could sell for big bucks, so I doubt there's a shortage of funds.

Well he did have to put a call into his investors to pay JA his $15M signing bonus...

The Vikings organization needed additional funds.
Zygi Wilf, as a corporate entity, is not in any financial hardships as far as I know.
I would assume that he is putting a bid in for the land, but who knows what it will go for.

The only way that land is valuable is if a Vikings stadium is built, which poses a quandary for outside investors.
If they pay too much for the land in hopes of reselling it to the Vikings for the stadium, they could push prices too high to make it viable, and Wilf goes to another part of the metro.
If they pay too little for it, they devalue the land.

The money paid for Allen was from the Vikings orginazation, ehich has no positive cash flow.....hence the need for a new stadium.
The money paid for the star trib land could come from Zigy himself, his business, or the pockets of the ownership group.
Just because he needed to call for bonus money does not mean he does not have the flow for some land.........especially since he is a land developer to begin with. :
[/quote]

Do you know that to be true?

Vikings Owner Literally Couldn't Afford Jared Allen

To ensure cash flow in light of Allen's historic $74 million contract, owner Zygi Wilf issued a capital call for just under $20 million to his investment partners, according to people with knowledge of the situation.

If he had to call on the investors to acquire Allen, what makes everyone so sure he has enough money to buy the Trib land that will sell for 3 to 4 times Allen's signing bonus?
[/quote]

The assumption is based on the fact that the Vikings organization is not a subsidiary or even solvent company of any of Wilf's land development companies.
Last year Wilf was buying the land as a development interest, not through the Vikings organization itself.
Most likely it would be the same this year.

Plus, the fact that Wilf was able to get a capital call for just under $20 million shows that there is obviously some capital available from his other investment partners.
I highly doubt they would have issued all, or even a significant portion, of their liquid assets in bonuses.

"singersp" wrote:

"A2-D8" wrote:

"NodakPaul" wrote:

"seaniemck7" wrote:

"Mr" wrote:

[quote author=Zeus link=topic=44920.msg778370#msg778370 date=1210685514]
[quote author=singersp link=topic=44920.msg778324#msg778324 date=1210676728]
Well once that's sold, kiss the idea of a new downtown stadium in that area goodbye. Wilf needed that area to build the new stadium & with the lack of funds, he is unable to purchase it now.

What lack of funds?
Where's the documentation of this?
It wasn't in that article.

What was in that article is that the STrib's parent company is asking twice the assessed value of the land for the purchase, which, in today's market, is just plain silly.

=Z=

He should sell one of his malls here in Jersey, I think he owns "The Short Hills Mall" in Short Hills, NJ, like 20 minutes from my house. He owns a ton of property in NJ, all of which could sell for big bucks, so I doubt there's a shortage of funds.

Well he did have to put a call into his investors to pay JA his $15M signing bonus...

The Vikings organization needed additional funds.
Zygi Wilf, as a corporate entity, is not in any financial hardships as far as I know.
I would assume that he is putting a bid in for the land, but who knows what it will go for.

The only way that land is valuable is if a Vikings stadium is built, which poses a quandary for outside investors.
If they pay too much for the land in hopes of reselling it to the Vikings for the stadium, they could push prices too high to make it viable, and Wilf goes to another part of the metro.
If they pay too little for it, they devalue the land.

The money paid for Allen was from the Vikings orginazation, ehich has no positive cash flow.....hence the need for a new stadium.
The money paid for the star trib land could come from Zigy himself, his business, or the pockets of the ownership group.
Just because he needed to call for bonus money does not mean he does not have the flow for some land.........especially since he is a land developer to begin with. :
[/quote]

Do you know that to be true?

Vikings Owner Literally Couldn't Afford Jared Allen

To ensure cash flow in light of Allen's historic $74 million contract, owner Zygi Wilf issued a capital call for just under $20 million to his investment partners, according to people with knowledge of the situation.

If he had to call on the investors to acquire Allen, what makes everyone so sure he has enough money to buy the Trib land that will sell for 3 to 4 times Allen's signing bonus?
[/quote]

Different pool of money.

=Z=