As a small business owner I am faced with a never ending list of decisions, some trivial and some that are critically defining.
No matter the size, one of the very reasons I love entrepreneurship, is the responsibility to make those decisions.
As stated in Wikipedia:
“Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure.“
Having said that, all of my decisions are rooted in growing my business, and as they say, “you win some and you loose some”, regardless, it’s still my business.
Generally speaking, there is no peanut gallery looking over my shoulder questioning those decisions.
Can you imagine what that would like?
Just ask Bruce Levenson.
Last week The Atlanta Journal Constitution reported that the Atlanta Hawks co-owner Bruce Levenson announced he would sell his controlling interest in the NBA team, citing an “inappropriate and offensive” e-mail he sent two years ago.
Do you remember what emails you sent two years ago?
Do you remember what emails you sent last week?
Well, let’s just say these are unique times.
Earlier this year Donald Sterling was forced to sell the Los Angeles Clippers as a result of racist comments he had made in the privacy of his home were made public.
Shortly thereafter,the Clippers were purchased by former Microsoft CEO Steve Ballmer for $2 billion in May, a record for any sports team without a stadium (MLB’s Los Angeles Dodgers were sold for $2 billion but that price includes the team’s stadium).
Please stop the madness.
For years the Clippers were the laughing stock of the NBA, as well as all professional sports, and now, because of some delusional comments by the owner, the result is a huge windfall.
As for the Hawks, in January they were valued at $425 million, 27th out of the league’s 30 teams.
Could the same thing happen here?
￼The value of NBA teams has been often less than what potential buyers are willing to pay for it.
Both teams that have exchanged hands this year have sold for greater than their Forbes value.
Team Sale Price/ Forbes
Bucks $550 million* $405 million
Clippers $2 billion* $575 million
Hawks TBD $425 million
*Sale set league record – ESPN Stats & Information
The Hawks have struggled for years to make an impact in a transient and racially integrated city with plenty of other professional sports teams trying to sell tickets.
They have no trouble selling out college football ( just try to get tickets to an Auburn vs Alabama game)
But, as the hubbub over Mr. Levenson’s email demonstrates, sports, like religion, can divide people as well as unite them.
I am sure that his comments were all based on trying to honestly access and grow his business.
One thing for sure, people care about winning, and regardless, the building would be full if that were the case.
So here we are again, an owner of a business, trying to either improve his standing, or sell his property, which he has tried to do in recent years, may hit the jackpot based on his comments.
Thanks Terry Kirby, and all the guys at USI, for the spirited dialogue during this past weeks workouts,
and for uncovering this potential profitable motive that nobody seems to be talking about.
And that’s what Nudelberg says!