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DocHolliday
06-29-2010, 03:31 PM
I was reading an article about the Hornets being bought by a Louisiana billionaire and the article said there are 8 other billionaire owners of NBA teams. Who are they?


New Orleans Hornets sale to billionaire Gary Chouest should get quick NBA approval

The sale of the New Orleans Hornets to billionaire Louisiana businessman Gary Chouest is expected to receive quick approval from the NBA because Chouest's background and resources were vetted by the league before he became a minority owner in 2007 when he purchased 25 percent of the club from George Shinn.

Chouest's precise net worth is not known because his company, Edison Chouest Offshore, is not a publicly traded concern.

However, many sources in the New Orleans area have indicated that Chouest's financial resources are vast, easily in the 10-figure range, and that for the first time in the franchise's history, money concerns would not be the primary focus of coaching or player transactions.

According to already published figures, the NBA has just eight other owners who are billionaires.

Source: http://www.nola.com/hornets/index.ssf/2010/05/new_orleans_hornets_sale_agree.html

pizza guy
06-29-2010, 03:34 PM
Cuban, I would guess is one of them. Maybe Jerry Buss? I know that these guys were all probably billionaires before they bought their team, so their team's success isn't the only thing to base the guess off of. But, I would think that Buss' team's success couldn't hurt his chances.

--pizza

travmil
06-29-2010, 03:36 PM
Paul Allen, The Russian guy who just bought the Nets. ANd I would also guess Dolan of the Knicks.

Unclebuck
06-29-2010, 03:37 PM
I don't think it is Buss - I've heard he is one of the poorer owners.

The new guy who owns the Nets. The guy who owns the Blazers. Cuban.....not sure on the others

graphic-er
06-29-2010, 03:38 PM
Jerry Buss, Herb Simon, Russian Guy,

travmil
06-29-2010, 03:39 PM
Simon's a Billionaire too. Easy to forget that.

travmil
06-29-2010, 03:43 PM
So our list so far,

Hornets - unknown Louisiana billionaire
Pacers - Herb Simon
Knicks - Dolan
Blazers - Paul Allen
Nets - Russian oil tycoon
Mavericks - Mark Cuban

Two more, and I'm guessing on Dolan.

Sollozzo
06-29-2010, 03:44 PM
Herb Simon is a billionaire. So was Mel.

http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Melvin-Simon_UIA0.html

pizza guy
06-29-2010, 03:48 PM
Hard to remember that our owner is that rich when all we hear about is the team struggling financially. I know they're separate, but it seems contradictory. You're right though.

I'm surprised to hear that Buss is one of the poorer owners (as if the word "poor" applies to any of them). Of course, in California, everyone is broke these days. I'm worried that our poster, Los Angeles, is going to be forced to change his avatar from the cool, sunglass-wearing cheeseburger to a McDouble. ;)

--pizza

(PS-I have no idea about LA's financial situation and assume he's doing fine cuz he's a clever guy)

binarysolo
06-29-2010, 03:50 PM
the Maloofs?

pizza guy
06-29-2010, 03:50 PM
I think you're right, binary

travmil
06-29-2010, 03:51 PM
I bet Sterling of the Clippers is a billionaire since he has barely spent a dime on his team in the last 20 years.

d_c
06-29-2010, 03:52 PM
the Maloofs?

About 5 years ago, sure. Not anymore.

binarysolo
06-29-2010, 03:56 PM
Here they are, from USATODAY.com :

Owner

Team

Net worth
Paul Allen

Portland

$20 billion

Micky Arison

Miami

$5.3 billion

Rich DeVos

Orlando

$3 billion

William Davidson

Detroit

$2.8 billion

Glen Taylor

Minnesota

$1.8 billion

Melvin Simon

Indiana

$1.6 billion

E. Stanley Kroenke

Denver

$1.4 billion

Mark Cuban

Dallas

$1.3 billion


http://www.usatoday.com/sports/basketball/nba/2005-salary-owners.htm

ok well that's from 2004-2005 so there may have been sales or fluctuations

DocHolliday
06-29-2010, 04:01 PM
There's 9 in that list and the Hornets are listed as still owned by non-billionaire Shinn. Hmm...


Here they are, from USATODAY.com :

Owner

Team

Net worth
Paul Allen

Portland

$20 billion

Micky Arison

Miami

$5.3 billion

Rich DeVos

Orlando

$3 billion

William Davidson

Detroit

$2.8 billion

Glen Taylor

Minnesota

$1.8 billion

Melvin Simon

Indiana

$1.6 billion

E. Stanley Kroenke

Denver

$1.4 billion

Mark Cuban

Dallas

$1.3 billion


http://www.usatoday.com/sports/basketball/nba/2005-salary-owners.htm

ok well that's from 2004-2005 so there may have been sales or fluctuations

Unclebuck
06-29-2010, 04:14 PM
Poor Peter Holt and Leslie Alexander - they are so poor

binarysolo
06-29-2010, 04:17 PM
There's 9 in that list and the Hornets are listed as still owned by non-billionaire Shinn. Hmm...


9, but Herb and Mel are counted separately.

binarysolo
06-29-2010, 04:19 PM
Poor Peter Holt and Leslie Alexander - they are so poor

maybe we should start a charity for them or something. I have a hard time sleeping at night, worrying about them :)

AlexAustin
06-29-2010, 05:36 PM
Memphis' owner
http://www.forbes.com/lists/2009/54/rich-list-09_Michael-E-Heisley-Sr_93KG.html

AlexAustin
06-29-2010, 05:39 PM
http://top--10.blogspot.com/2009/12/top-10-basketballs-billionaire-owners.html

OakMoses
06-29-2010, 06:29 PM
Hard to remember that our owner is that rich when all we hear about is the team struggling financially. I know they're separate, but it seems contradictory. You're right though.


The fact that Simon is a billionaire is one of the big reasons why he can afford to keep the team in Indiana. If he was a guy who couldn't afford to lose $10+ million a year, the Pacers would be gone.

Also, I wonder how much the Pacers losing money saves him in taxes.

pizza guy
06-29-2010, 06:52 PM
Good point, Melli. He probably does get a decent tax break, but I'm sure it's not enough to make losing $10mil worthwhile.

idioteque
06-29-2010, 07:28 PM
Herb Kohl who owns the Bucks is the richest U.S. Senator right now so I would guess that he is a billionaire.