The NBA is trying to force a sale of the Los Angeles Clippers after banning owner Donald Sterling for life. So the real question is how much with the NBA franchise get?
Dallas Mavericks owner Mark Cuban is not only familiar with the NBA and sports ownership, but a very intelligent business man and in an interview with CNN’s Christine Romans Tuesday Cuban said he think the franchise will sell for “far north” of $1 billion.
He also discussed how sports owner ship has transitioned from a wealthy person buying a team, to consortiums of people, or ownership groups, buying teams.
“Acquiring the franchise has gone from rich guys or women being able to write a check for a team, to it being a consortium where you have a lot of stakeholders,” Cuban said.
Cuban added: “This is a real business. It’s not a trophy asset. It has to make money.”
[h/t] Terez Owens