The NBA is moving away from the term "owner"

[Wings]

Millionaires being paid by Billionaires. They're all :censored:ing wealthy. Next. 

[The_Admiral]

9 hours ago, Cosmic said:

I would just always staple the word "team" in front of "owner". It's simple, it's backwards compatible with people who are used to "owner", and it still avoids a lot of the context that makes it sound like super rich white men actually own less rich young black men.

 

Not woke-capitalist enough. Think of how well they can applaud themselves for renaming themselves "partners." Our interests are definitely not opposed to yours at all, players! We're partners!

[Kramerica Industries]

10 hours ago, DG_Now said:

 

There are a whole lot of snowflakes who complain about other people they think are snowflakes. We need a term for it.

 

Pretty sure the word you're looking for is "hypocrite".

[WSU151]

The weird thing is a lot of these millionaire players also are owners/part owners of companies in other ventures...and yes, they use the term "owner" for themselves. 

 

Look at this "insensitive" headline by <checks website> Variety magazine:

 

https://variety.com/video/maverick-carter-lebron-james-nba-nfl-owner/

 

The NBA's own guide (a league publication) continues to use the word owner for about half the teams. "Chairman" seems to be the most popular alternative.

 

It's almost as if the players/people who are upset by the term "owner" are thinking about it outside the proper context on purpose. 

[DG_ThenNowForever]

2 hours ago, Kramerica Industries said:

 

Pretty sure the word you're looking for is "hypocrite".

 

What's the term for reverse virtue signaling? Because the NBA does a great job of surfacing that too.

 

(credit to @Digby)

[OnWis97]

A couple comments about some themes I'm seeing:

• "Is this really a pressing issue?"  Well, no, but stop acting like it's taking Silver and the league away from addressing pressing issues.  Reminds me of when a bad team changes uniforms and people in the newspaper comment section say "why would you focus on the uniforms when you have such a terrible pitching staff?"  One really has nothing to do with the other.  Do people really buy into this?
• "Race relations are NOT at an all-time low."  OK, maybe you are correct, but they're trending the wrong way, rapidly, so the point is apt. (and I'd argue they're deteriorating at a record pace).
• I guess I have to be careful with word-choice here, but all credit to those (people with some label) who have co-opted terms like "offended," "snowflake," "triggered," etc. to only apply to (people with some other label).  It's worked out brilliantly.
• Words matter...it never occured to me that "owner" was problematic.  I guess that's a luxury I have.

[WSU151]

On 6/25/2019 at 9:03 PM, BringBackTheVet said:

Also - why are pro sports the only area where the term "owner" is used at all?  You don't hear about the "owner" of Staples, the "owner" of PetSmart, etc. (intentionally selected private companies.)  Is it because it's a "franchise" deal? 

 

 

Small business owners are in the news constantly. Restaurant owners are everywhere. 

 

 

[BBTV]

6 minutes ago, WSU151 said:

 

Small business owners are in the news constantly. Restaurant owners are everywhere. 

 

 

 

But mostly if it’s a sole proprietorship, right?  What pro sports team owner in the

current era bought his team with a personal check?

 

hell, people refer to Derek Jeter as “owner” of the Marlins, when he really just has a small stake in it. He’s more like a vocal partner or something. 

 

FWIW, since the early 80s the Phillies have not had an “owner”, or anyone referred to by that title. They have been a limited partnership with a “managing partner” that switches whenever one dies or says something stupid and is voted out (Bill Giles). It was something like 12 people (guys and their wives) and is now down to... 8? It’s why they have memorial patches seemingly every year. 

 

The current managing partner is the wealthiest of all of them and the closest thing they’ve had to an “owner” in my lifetime. 

[WSU151]

34 minutes ago, BringBackTheVet said:

 

But mostly if it’s a sole proprietorship, right?  What pro sports team owner in the

current era bought his team with a personal check?

 

For starters:

Robert Kraft

Jerry Jones

Arthur Blank

Dan Snyder

Malcolm Glazer (RIP)

Paul Allen (RIP)

Arte Moreno

Henry Samueli 

Stan Kroenke (Colorado teams)

Steve Ballmer

Mickey Arison

Jim Crane

John Fisher

 

 

 

 

[Gothamite]

5 hours ago, Kramerica Industries said:

Pretty sure the word you're looking for is "hypocrite".

 

Which is the word that fits almost everyone who uses the epithet “snowflake” seriously. 

[BBTV]

58 minutes ago, WSU151 said:

 

For starters:

Robert Kraft

Jerry Jones

Arthur Blank

Dan Snyder

Malcolm Glazer (RIP)

Paul Allen (RIP)

Arte Moreno

Henry Samueli 

Stan Kroenke (Colorado teams)

Steve Ballmer

Mickey Arison

Jim Crane

John Fisher

 

 

 

 

 

I didn’t realize that many. I just looked up Kraft and it’s an interesting story. 

 

I guess moving forward, since you can’t get a team for less than $1B, that list will dwindle and dwindle as franchises are sold to ownership groups made up of 15 or more people. I don’t think many Of those were bought for anywhere close to today’s selling prices.  I know Ballmer - assuming Clippers - was. 

 

https://www.inc.com/jeff-haden/how-robert-kraft-bought-new-england-patriots-built-franchise-worth-38-billion.html

[sky1324]

5 hours ago, WSU151 said:

 

For starters:

Robert Kraft

Jerry Jones

Arthur Blank

Dan Snyder

Malcolm Glazer (RIP)

Paul Allen (RIP)

Arte Moreno

Henry Samueli 

Stan Kroenke (Colorado teams)

Steve Ballmer

Mickey Arison

Jim Crane

John Fisher

 

 

 

 

David Tepper, of the Panthers.

[dfwabel]

6 hours ago, BringBackTheVet said:

 

I didn’t realize that many. I just looked up Kraft and it’s an interesting story. 

 

I guess moving forward, since you can’t get a team for less than $1B, that list will dwindle and dwindle as franchises are sold to ownership groups made up of 15 or more people. I don’t think many Of those were bought for anywhere close to today’s selling prices.  I know Ballmer - assuming Clippers - was. 

 

https://www.inc.com/jeff-haden/how-robert-kraft-bought-new-england-patriots-built-franchise-worth-38-billion.html

As @QueenCitySwarm mentioned, Dave Tepper paid cash for the Panthers last year.  His bid was third highest, but he won because they NFL knew of his liquidity via his share of the Steelers and he was paying cash.

 

NFL controlling owners must have a minimum of 30% equity in a team, and there are firm debt limits in place, up to $350M, unless given a waiver*.  Limited partners are not allowed to finance their share in the NFL. NBA is at $325M, NHL is half the team's value

 

Investment banks that met with the league were PJT Partners, Inner Circle Sports and Allen & Co. work with leagues regarding prospective owners as does law firm Proskauer Rose. who somewhat specializes in sports law.

 

*-Falcons received a waiver for Mercedes Benz Stadium totaling $800M and last spring the Rams got one for Inglewood for wait for it...$2.4B.

[dfwabel]

As for the word, "owner", Gayle Benson has her own thoughts:

Quote

For now, Benson said she will stick with the status quo, though as someone who sees herself less an “owner” and more “a caretaker of incredible assets”, she plans to address the issue at the league’s upcoming summer meetings in order to be as inclusive as possible.

 

“As with any word, phrase or expression, interpretations can be perceived differently,” she said in a statement. “That is in many ways why diversity, inclusion and openness is so important to companies and society. As with any expression, my intention and the intentions of the organization I am responsible for is never to be insensitive or insulting.

 

“I truly believe daily actions speak very loudly, and it is my sincere hope that the players and staff know how much I care for them and their families. I sincerely hope no term that attempts to define my corporate standing would in any negative way suggest a lack of caring, respect or admiration for that they accomplish every day – leaders, teammates, colleagues, parents, mentors, citizens.”

 

“I have said over and over I don’t see myself so much as an owner but more of a caretaker to the incredible assets that I have been so fortunate to lead,” she said in the statement. “My intention has and continues to be building on my husband’s legacy, making the assets better and creating a better community for our employees, fans and citizens.”

 

[rmc523]

What about "steward"?  They're a steward of the brand/team while they own it?

 

oun

 

1. 1.

   a person who looks after the passengers on a ship, aircraft, or train and brings them meals.

   synonyms:

   flight attendant, cabin attendant, member of the cabin staff; More

2. 2.

   a person responsible for supplies of food to a college, club, or other institution.

   synonyms:

   major-domo, seneschal, manciple;  butler "the steward of the household"

verb

 

1. 1.

   (of an official) supervise arrangements or keep order at (a large public event).

   "the event was organized and stewarded properly"
2. 2.

   manage or look after (another's property).

  

[Digby]

I have avoided this thread, since I don't give a hoot about this development and figured the replies here would be too close to a newspaper comment section for my liking.

 

But now that I'm here, a searing hot take incoming: on the surface this looks like a nice/smart/overdue thing to fix the optics, given our country's fraught history ... but the side benefit for the suits is that a term like "steward" or "caretaker" or "partner" is also a convenient way to paint the teams as public trusts of their cities and fans, obscuring the fact that the actual owners coast on that goodwill to generate absurd profits for shockingly few people (and not the players). 

[IceCap]

29 minutes ago, Digby said:

But now that I'm here, a searing hot take incoming: on the surface this looks like a nice/smart/overdue thing to fix the optics, given our country's fraught history ... but the side benefit for the suits is that a term like "steward" or "caretaker" or "partner" is also a convenient way to paint the teams as public trusts of their cities and fans, obscuring the fact that the actual owners coast on that goodwill to generate absurd profits for shockingly few people (and not the players).  

The problem is that "owner" can be just as benign. Its meaning is incredibly broad. It has the slavery connotations, which is obviously what the NBA is trying to get away from. It could also mean "business owner," which can be spun as a "small business owner," who everyone wants to appeal to. Of course you'd be an idiot to try and insist a NBA team is a local small business, but if you're committed to twisting words to fit a desired image? It's no less difficult than trying to sell "steward" or "managing partner."

[BBTV]

Are all major teams either organized as LLCs, owned by corporations, or otherwise incorporated?  I know the Eagles are LLC.

 

I looked up what the head of an LLC is called and it came up with this.  Obviously "founder" and "consultant" don't work (except maybe "founder" for newer teams) but President and CEO are fine.

 

I think any arguments against this are much ado about nothing.  It's not like they're legislating it, just not using it.  If Steve Ballmer refers to himself as "owner", he's not going to be suspended or get slapped with a fine and have to issue an apology.  If anything, the article just stated that it's just the league office that's removing the word from its lexicon - it didn't say that the teams have to do anything they don't want to do.  Obviously the media can continue to use "owner" and in many instances not be wrong.  I would imagine that most "owners" would follow suit (pretty sure no team in Phila has used the term "owner" for a very long time, for myriad reasons, not even for Ed Snider in the post-Comcast era) if they haven't already anyway, and they're probably asking ESPN and their other media partners to comply, but it's still not a "law".  It's harmless.

 

Eagles "owner" has been "Chairman and CEO" for a long time.  THey also have a separate "president" too.

Flyers... well I dont even know who runs the Flyers since Ed Snider died.

Sixers current "owner" has always been "managing partner"

Phillies have that bizarre situation I described earlier so just have a managing partner and a bunch of silent partners.

president

 

Common Managing Member Titles

In addition to "president" and "CEO," common titles used by LLC chief executives are "principal," "founder," "consultant" and "owner." Along with being correct and true, these titles accurately represent your position in the company.

[Digby]

I think it's typically an LLC if it's an investment group specific to the team, though on the other hand I'm not sure of the legalese for teams that are like corporate departments, like how Delaware North owns the Bruins. And I assume the Major League Soccer model is more like each team's owner is actually an investor in one single league LLC, but MLS is a big mystery to me honestly.

[The_Admiral]

7 hours ago, BringBackTheVet said:

Flyers... well I dont even know who runs the Flyers since Ed Snider died.

 

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