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Two SW basketball teams sold in one day?
Posted: Wed Feb 04, 2009 12:16 am
Anyone know the scoop?
In the Albuquerque Journal today it was reported that minority owner Sam Bregman has taken over the team, with no comment from David Kahn. In the article, Bregman also stated he was looking for investors for the T-birds.
Just saw the announcement that the Reno Bighorns have been taken over by the Reno Aces baseball club. Again, no comment from Kahn.
Thoughts or comments? Is this a cash flow or performance issue?
Posted: Wed Feb 04, 2009 5:44 pm
From what I know (and that is very little), David Kahn had been looking at selling his teams for a while now. Not for any reason, just to get out. So its not a cost cutting issue, or performance.
I did hear that Sam did take over the Albuquerque team. If I had investment money, I would invest.
I think these sales will be better for both teams.
Posted: Wed Feb 04, 2009 6:32 pm
http://www.rgj.com/apps/pbcs.dll/articl ... ckcomments
...kind of suspicious that the Aces buy the team after asking Reno for money to help jump-start development around the ballpark construction. Price undisclosed... but I wonder if Kahn made a profit.
Can't find a Journal link. When someone "takes over a team" and immediately begs for investors, I do NOT get the warm fuzzies.
Overall, suspicious timing.
Posted: Thu Feb 05, 2009 3:36 pm
Posted: Wed Feb 11, 2009 4:55 am
If the teams can stay afloat short term the fact that they will have owners who are active in the community should help.... still wonder if there isn't more to it because it kinda seems like a quick sell.... I had heard for example that the Maloof family was interested in buying the team in Reno... I hope that all works out well for these teams....
Posted: Fri Feb 20, 2009 2:18 am
I think he got in to sell the teams later for a profit. Once he sold Tulsa to the Thunder and Reno to the Pacers for over 2 million on each sale it was the right time to get out. He most likely saw the Thunderbirds as a hard sell (to NBA owners) so he just turned over ownership to a local investor.