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  1. #1
    COJOMAY is offline Jersey Retired
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    Wilf losing big bucks????

    And it's not because of the bad stadium. It's because of his shopping centers going broke.
    In a piece today by CBS news, they said the following:
    (CBS/AP) Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the housing market.

    Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to default on their mortgages.

    That pace is expected to quicken. The number of late payments and defaults will double, if not triple, by the end of next year, according to analysts from Fitch Ratings Ltd., which evaluates companies' credit.

    "We're probably in the first inning of the commercial mortgage problem," said Scott Tross, a real estate lawyer with Herrick Feinstein in New Jersey.

    That's bad news for more than just property owners. When businesses go dark, employees lose jobs. Towns lose tax revenue. School budgets and social services feel the pinch.
    http://www.cbsnews.com/stories/2008/11/28/business/main4637008.shtml

    It doesn't look like Wilf will have extra money to spend on free agents this year like he did last year.
    Kentucky Vikes Fan

    When you require nothing, you get nothing; when you expect nothing, you will find nothing; when you embrace nothing, all you will have is nothing.

  2. #2
    jargomcfargo's Avatar
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    Re: Wilf losing big bucks????

    Wilf losing big bucks ????
    It doesn't look like Wilf will have extra money to spend on free agents this year like he did last year.

    Sorry but I must have missed that part in the article.
    I guess it could be true, but I didn't even see Zygi mentioned once.
    If we enter a depression, NFL football isn't going to be very important to most of us , anyway.
    I shall remain hopeful.
    “What takes a quarterback to the next level is not arm strength or mobility or any of that stuff. It’s the ability to play on critical downs. Manage third downs, or red zones or four-minute or two-minute situations"
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  3. #3
    COJOMAY is offline Jersey Retired
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    Re: Wilf losing big bucks????

    "jargomcfargo" wrote:
    Wilf losing big bucks ????
    It doesn't look like Wilf will have extra money to spend on free agents this year like he did last year.

    Sorry but I must have missed that part in the article.
    I guess it could be true, but I didn't even see Zygi mentioned once.
    If we enter a depression, NFL football isn't going to be very important to most of us , anyway.
    I shall remain hopeful.
    No, Wilf is not mentioned, but he is one of the biggest commerical real estate and shopping center developers in the country. So I just put two and two together.
    Kentucky Vikes Fan

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  4. #4
    ultravikingfan's Avatar
    ultravikingfan is offline Administrator
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    Re: Wilf losing big bucks????

    "COJOMAY" wrote:
    "jargomcfargo" wrote:
    Wilf losing big bucks ????
    It doesn't look like Wilf will have extra money to spend on free agents this year like he did last year.

    Sorry but I must have missed that part in the article.
    I guess it could be true, but I didn't even see Zygi mentioned once.
    If we enter a depression, NFL football isn't going to be very important to most of us , anyway.
    I shall remain hopeful.
    No, Wilf is not mentioned, but he is one of the biggest commerical real estate and shopping center developers in the country. So I just put two and two together.
    How does retail selling really affect a a developer?

  5. #5
    LincolnVike is offline Rookie
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    Re: Wilf losing big bucks????

    "ultravikingfan" wrote:
    "COJOMAY" wrote:
    "jargomcfargo" wrote:
    Wilf losing big bucks ????
    It doesn't look like Wilf will have extra money to spend on free agents this year like he did last year.

    Sorry but I must have missed that part in the article.
    I guess it could be true, but I didn't even see Zygi mentioned once.
    If we enter a depression, NFL football isn't going to be very important to most of us , anyway.
    I shall remain hopeful.
    No, Wilf is not mentioned, but he is one of the biggest commerical real estate and shopping center developers in the country. So I just put two and two together.
    How does retail selling really affect a a developer?
    It depends on who owns said shopping center.
    If it's the development corporation that manages it and the stores close, the developer high and dry by not making any money on occupation fees and other fees.

    As for this topic, I don't know how many stores Mr. Wilf owns, but he's got such a vast market out there that even if half of them closed, he's still likely making bank.
    As long as retail centers are even only half full, developers and property managers still make a profit.

  6. #6
    Articnv's Avatar
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    Re: Wilf losing big bucks????

    The money from his retail
    is seprate from the
    incoem the vikinsg generate.
    So he may lso emoney but it wont effect the vikings losing money

  7. #7
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    Re: Wilf losing big bucks????

    "Articnv" wrote:
    The money from his retail
    is seprate from the

    incoem the vikinsg generate.

    So he may lso emoney but it wont effect the vikings losing money
    While they are separate entities, it's still his money as a whole. If i have money for groceries, and money for gas, it's still ultimately all my money, but going to different things. At least, that's the way i think about it.
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  8. #8
    i_bleed_purple's Avatar
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    Re: Wilf losing big bucks????

    "STCLOUDSAYSGOVIKES" wrote:
    "Articnv" wrote:
    The money from his retail
    is seprate from the

    incoem the vikinsg generate.

    So he may lso emoney but it wont effect the vikings losing money
    While they are separate entities, it's still his money as a whole. If i have money for groceries, and money for gas, it's still ultimately all my money, but going to different things. At least, that's the way i think about it.
    true, he uses money out of his own pocket to pay some of the players (Allen)
    The vikings don't have that kind of money to throw around, so he takes a hit, hoping to boost revenue for the team and make it back.

  9. #9
    COJOMAY is offline Jersey Retired
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    Re: Wilf losing big bucks????

    And remember he put the "hit" on his partners last year for some extra cash. They came through, but how often that will happen now remains to be seen.
    Kentucky Vikes Fan

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  10. #10
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    Re: Wilf losing big bucks????

    What people fail to realize, is that Wilf is not the sole owner of the team.

    There are other silent partners including Reggie Fowler.

    I don't recall the number of silent partners, but I believe it was around 4-6.

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