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  1. #1
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    Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Limbaugh Buzz Aside, Rams May Not Even Be For Sale
    SportingNews
    Oct 13, 5:16 pm EDT

    Buzz up! 1 PrintThe following story was written by Daniel Kaplan of SportsBusiness Journal. It first appeared in SportsBusiness Daily's Closing Bell on Tuesday afternoon.


    Despite the uproar over Rush Limbaugh potentially buying the Rams, the team may not even be for sale.


    NFL Commissioner Roger Goodell said this afternoon that a Rams representative told the owners meeting in Boston that the investment banking process was at an early stage and that the Rosenbloom family had not even committed to sell. Chip Rosenbloom and his sister, Lucia Rodriguez, inherited the team from their mother last year when she died.




    Earlier this year the club hired Goldman Sachs to conduct a sales process. Six parties have expressed interest, including the one featuring Limbaugh and Blues owner David Checketts, the only public one to date. Limbaugh's controversial background has sparked heated debate and led some players to say they would not play for the Rams. But Rams President John Shaw said it was premature to discuss potential owners, Goodell said.


    Goodell for his part refused to comment on Limbaugh, other than to say he disagreed with the radio lightning rodís comments as an ESPN analyst in '03 that Eagles QB Donovan McNabb(notes) was treated leniently by the press because he was black.


    More: Colts owner Irsay says he would not approve Limbaugh


    More from Sporting News: NFL Owners Approve Fergie as Dolphins Investor

    :ramlogo:

  2. #2
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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Not for sale? So Chip and Lucia are going to pick $250 Mil off the money tree out back or what?
    "Before the gates of excellence the high gods have placed sweat; long is the road thereto and rough and steep at first; but when the heights are reached, then there is ease, though grievously hard in the winning." --- Hesiod

  3. #3
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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    John Shaw President ??? I thought he stepped down and is merely an advisor.

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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Quote Originally Posted by HUbison View Post
    Not for sale? So Chip and Lucia are going to pick $250 Mil off the money tree out back or what?
    They can always get a loan or an investor to pay that bill if they decide they want to keep a team. A smart strategy if they buy into the belief that this franchise can turn around and make some $$ in the end.

  5. #5
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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    If and when the Rams are for sale, it won't be to any group that includes Limbaugh, no way.

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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    The owners have the ability to stop the sale process if the bids aren't adequate. It's possible they could take on debt to achieve this but in this world, that's not as likely as it would have been 2 years ago.

    Just my guess but saying that is a way to counter people for making horribly low bids. Rumors are the bids are valuing the team $100 million less than Forbes valued them. Whatever that means in the real world.

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    supachump is offline Registered User
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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Quote Originally Posted by RebelYell View Post
    The owners have the ability to stop the sale process if the bids aren't adequate. It's possible they could take on debt to achieve this but in this world, that's not as likely as it would have been 2 years ago.
    On the contrary. I believe getting a $250 million loan wouldn't be that difficult if the franchise itself was the collateral. Sure, it wouldn't be as easy as 2-4 years ago. But, I think that would be a no brainer to a bank. They could easily get their money back on a default. Well, unless the Rams continue to lose for the next 10 years.

    My point is, I really feel that the issue is whether Chip and Sis want to take on the burden of the team or just wash their hands. If they want to keep the team, they could find a way to pay those taxes.
    Last edited by supachump; -10-14-2009 at 12:38 PM.

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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Quote Originally Posted by supachump View Post
    On the contrary. I believe getting a $250 million loan wouldn't be that difficult if the franchise itself was the collateral. Sure, it wouldn't be as easy as 2-4 years ago. But, I think that would be a no brainer to a bank. They could easily get their money back on a default. Well, unless the Rams continue to lose for the next 10 years.
    Except for the fact that there isn't a contract in place with their union. A stoppage is a real possibility in 2 years. Plus if they don't have a salary cap after the contract is agreed upon (as the players union says they will refuse to), that has to have an impact on valuations.

    Plus as collateral, how good is it if a third party has final say in who is allowed to buy the asset? That means a bank may be stuck with a money losing asset for 18 months to 2 years. Nobody wants that in this environment.

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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    On the contrary. I believe getting a $250 million loan wouldn't be that difficult if the franchise itself was the collateral.
    And you think the NFL would allow one of their member franchises to be put up as collateral?
    "Before the gates of excellence the high gods have placed sweat; long is the road thereto and rough and steep at first; but when the heights are reached, then there is ease, though grievously hard in the winning." --- Hesiod

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    supachump is offline Registered User
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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Quote Originally Posted by HUbison View Post
    And you think the NFL would allow one of their member franchises to be put up as collateral?
    Well that, I admit, know nothing about. If they can't do that, then they'd have to rely on an investor. Chip works in Hollywood. There are a lot of rich people around. If he really wanted to keep the team (a big if), he could probably find a way to get the money to pay the taxes.

    However, I know nothing about the NFL ownership rules and what they can and cannot do without permission.
    Last edited by supachump; -10-14-2009 at 01:14 PM.

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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Quote Originally Posted by HUbison View Post
    And you think the NFL would allow one of their member franchises to be put up as collateral?
    Good question. I think they allow it but they only allow something like 30% debt to value. Art Modell had a much higher debt figure and it was a factor in moving the team to Baltimore so the league changed the rules (if I remember correctly). Even though he owned an NFL franchise, the guy was basically broke by NFL standards. It would be interesting to know all the actual facts.

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    Re: Limbaugh Buzz Aside, Rams May Not Even Be For Sale

    Quote Originally Posted by supachump View Post
    They can always get a loan or an investor to pay that bill if they decide they want to keep a team. A smart strategy if they buy into the belief that this franchise can turn around and make some $$ in the end.
    For what it's worth the Forbes appraisal actually has this team being worth more than the Cubs and Wrigley combined.

    They can pull in a lot of coin by selling now, and I really wish they do sell. The Rams will not recover as a franchise until the Rosenblooms leave.

    Note...a $100 million less than the total value of the franchise is only $20 odd million less than the Cubs and Wrigley. $800 plus million.

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