NFL Merry-Go-Round: Relocation Roundelay

[Cosmic]

Does P.F. Chang's have a buffet?

Jefferson City has I think four different Chinese buffets on the same road. I've been to all of them.

And I'm sure you're better off for it. I love Chinese food. Buffets are almost never as high quality as regular Chinese restaurants, but I can never choose and want a little of everything. So I'll trade better egg rolls so I can have some General Tso, egg foo young, seafood delight, crab Rangoon, and maybe even a slight of cheese pizza because what the hell.

I've never been, but it seems like Mr. Chang's serves the same Americanized Chinese takeout food at two or three times the price.

[The_Admiral]

More or less, but it's a much nicer atmosphere than the fluorescent lights and acoustical tiles of your average Chinese joint.

[Gothamite]

Was this mentioned before? Kroenke finally satisfied the cross-ownership rules.

http://www.latimes.com/sports/la-sp-sn-nfl-owners-meetings-los-angeles-2013-20151007-story.html

The cross-ownership complications of St. Louis Rams owner Stan Kroenke are over.

NFL owners on Wednesday approved Kroenkes plan, which allows him to retain ownership of the Rams, and transfers ownership of the Denver Nuggets and Colorado Avalanche to his wife, Ann Walton Kroenke. She is a Wal-Mart heiress, who, according to Forbes, is worth an estimated $4.6 billion.

The Nuggets and the Avalanche will be run by the Kroenkes' son, Josh.

Under league rules, an owner cannot own an NFL team in one city and another pro sports franchise in another NFL city (or potential NFL city, such as Los Angeles). The reason is, the league doesnt want NFL owners competing with each other for sports/entertainment dollars in the same city.

For those reading tea leaves on the L.A. situation, the fact that Kroenke got a thumbs-up is noteworthy because his cross-ownership situation had been viewed as an irritant among some owners. With that behind him, it removes one of the hurdles in his path to a potential relocation to L.A.

I don't know if it will really impact relocation at all. But if this franchise-transfer seems like a fig leaf, remember that NFL "rules" are made to be bent, broken, given lip service or outright ignored when they feel like it.

[Gothamite]

Jason Cole ‏@JasonColeBR · 7h7 hours ago

#Raiders owner Mark Davis just said he's willing to take on a partner in Los Angeles. "Whatever it takes to make something happen," he said

Jason Cole ‏@JasonColeBR · 6h6 hours ago

And by "partner," #Raiders owner Mark Davis meant another part-owner to assuage fears of other team owners about ability to succeed in LA

Jason Cole ‏@JasonColeBR · 3h3 hours ago

Source: Deal by #Raiders owner Mark Davis to sell part of team to LA investor could be coming soon in hopes of moving team. #NFL

Isn't Davis already down to a minority ownership stake? I thought he had control of 50+% but actually owned less than that. Which would make an LA partner tricky, since that partner isn't going to hand over cash without also becoming an active owner.

[STL FANATIC]

Jason Cole ‏@JasonColeBR · 7h7 hours ago

#Raiders owner Mark Davis just said he's willing to take on a partner in Los Angeles. "Whatever it takes to make something happen," he said

Jason Cole ‏@JasonColeBR · 6h6 hours ago

And by "partner," #Raiders owner Mark Davis meant another part-owner to assuage fears of other team owners about ability to succeed in LA

Jason Cole ‏@JasonColeBR · 3h3 hours ago

Source: Deal by #Raiders owner Mark Davis to sell part of team to LA investor could be coming soon in hopes of moving team. #NFL

Isn't Davis already down to a minority ownership stake? I thought he had control of 50+% but actually owned less than that. Which would make an LA partner tricky, since that partner isn't going to hand over cash without also becoming an active owner.

My impression is the latter is exactly what Davis is talking about agreeing to. Not sure if that's been expressly stated, but that's how I interpreted "partner."

[Gothamite]

I looked it up - Davis and his mother currently own 47% of the team. Even so, they maintain a controlling interest based on how the ownership shares were structured with the other original investors (some sort of Preferred Stock?).

Mark Davis being willing to sell off some of that special stock is one thing, but how much can he afford to give up and still maintain his controlling interest?

The NFL requires that a single person owns 30% of a team, so theoretically the Davis family could sell up to 17%. But that would almost certainly involve giving up a measure of control; it would be one thing if they had a clear track record of good stewardship, but no incoming investor is going to look at this train wreck and say "Yeah, keep on keepin' on."

[dfwabel]

I looked it up - Davis and his mother currently own 47% of the team. Even so, they maintain a controlling interest based on how the ownership shares were structured with the other original investors (some sort of Preferred Stock?).

Mark Davis being willing to sell off some of that special stock is one thing, but how much can he afford to give up and still maintain his controlling interest?

The NFL requires that a single person owns 30% of a team, so theoretically the Davis family could sell up to 17%. But that would almost certainly involve giving up a measure of control; it would be one thing if they had a clear track record of good stewardship, but no incoming investor is going to look at this train wreck and say "Yeah, keep on keepin' on."

Correct. While we discussed it earlier this summer, here is the link from Sports Business Journal regarding the changes in ownership rules.

Since yesterday was the 4th year anniversary of the death of Al Davis, I will link with a story which I am unsure we have every posted.

It is from the San Diego Union Tribune in 2009. It briefly some two of the long standing equity holders in the Raiders.

The woman who gave a brief quote was 99 and in assisted living then, so who knows if she and the others who did not go on the record are still alive and what happened to their shares.

[cubsfan2015]

Does P.F. Chang's have a buffet?

Jefferson City has I think four different Chinese buffets on the same road. I've been to all of them.

And I'm sure you're better off for it. I love Chinese food. Buffets are almost never as high quality as regular Chinese restaurants, but I can never choose and want a little of everything. So I'll trade better egg rolls so I can have some General Tso, egg foo young, seafood delight, crab Rangoon, and maybe even a slight of cheese pizza because what the hell.

I've never been, but it seems like Mr. Chang's serves the same Americanized Chinese takeout food at two or three times the price.

Why the are we talking about Chinese food?

I think the Raiders will move to LA bc Oakland's staidum is becoming the old man,so JUST LEAVE.

(insert Shia LeBouf quote)

[rams80]

Does P.F. Chang's have a buffet?

Jefferson City has I think four different Chinese buffets on the same road. I've been to all of them.

And I'm sure you're better off for it. I love Chinese food. Buffets are almost never as high quality as regular Chinese restaurants, but I can never choose and want a little of everything. So I'll trade better egg rolls so I can have some General Tso, egg foo young, seafood delight, crab Rangoon, and maybe even a slight of cheese pizza because what the hell.

I've never been, but it seems like Mr. Chang's serves the same Americanized Chinese takeout food at two or three times the price.

Why the are we talking about Chinese food?

I think the Raiders will move to LA bc Oakland's staidum is becoming the old man,so JUST LEAVE.

(insert Shia LeBouf quote)

Do you talk to your mother with that mouth?

[STL FANATIC]

Details slowly emerging about what the city of St. Louis is being asked to finance. There is going to be a lot going on here in the next couple weeks, I think.

http://www.bizjournals.com/stlouis/news/2015/10/09/comptroller-city-taxes-would-rise-under-stadium.html?ana=twt

[Gothamite]

Ouch.

[bosrs1]

This might be an unpopular opinion, but PF Chang's blows. However, that $12.99 all-you-can-eat Hooters wings deal would be life altering. I love their wings, but go maybe once every few years because I don't want to be that guy. Still, if they had that deal by me, I would go every Tuesday night until I ate myself to the point of being bed-ridden. Buffalo Wild Wings has better sauces, but the wings aren't even close.

Don't see how it could be an unpopular opinion. PF Changs blows. I mean it's overpriced pseudo-Asian food presented as some sort of fusion revolution when it's really just greasy crap that's worse than you'll find at any real Asian restaurant for half the price.

[dfwabel]

This might be an unpopular opinion, but PF Chang's blows. However, that $12.99 all-you-can-eat Hooters wings deal would be life altering. I love their wings, but go maybe once every few years because I don't want to be that guy. Still, if they had that deal by me, I would go every Tuesday night until I ate myself to the point of being bed-ridden. Buffalo Wild Wings has better sauces, but the wings aren't even close.

Don't see how it could be an unpopular opinion. PF Changs blows. I mean it's overpriced pseudo-Asian food presented as some sort of fusion revolution when it's really just greasy crap that's worse than you'll find at any real Asian restaurant for half the price.

Bottom line is that if Mark Davis had PF Chang's lower priced sister restaurant, Pei Wei, within daily driving distance from/to the Alameda HQ, he would eat there.

[The_Admiral]

Pei Wei! I eat there when I have to eat at airports!

[cubsfan2015]

RIP St. Louis Football

You were good,but then you were bad as the Bobcats that one year.

[colortv]

Question: How would the Raiders afford the relocation fee?

Mark Davis said they have $500 million to put into an Oakland stadium "Inclusive of the G-4 loan"

Meaning they would only be putting $300 million of their own money into one.

So how could they possible afford the relocation fee on top of what they would put into the LA stadium?

[dfwabel]

Question: How would the Raiders afford the relocation fee?

Mark Davis said they have $500 million to put into an Oakland stadium "Inclusive of the G-4 loan"

Meaning they would only be putting $300 million of their own money into one.

So how could they possible afford the relocation fee on top of what they would put into the LA stadium?

The ability to afford the fee is because the franchise value goes up dramatically and other equity shares are cashed out.

[Gothamite]

Franchise value is paper profit alone; it doesn't give the owners a single extra dollar until they sell.

It's possible that relocation fees could be wrapped into the financing from Goldman Sachs, to be paid back out of the increased revenues from the new stadium.

It's another reason why the Raiders can't make the move by themselves. I would expect the relocation fee for one team to be significantly higher than what two teams would pay.

[Mac the Knife]

Alternately, the relocation fee can be deducted from television rights fees over several years. The relocation fee's not an obstacle.

[DustDevil61]

In another Mark Davis-Kathy Geiss parallel, it looks like he may need some outside help to move to LA:

Raiders Least Likely to Move to Los Angeles

It substantiates rumors of the Davises looking outside the box for an outside investor to help with the move.