Fertitta sells interest in Texans

Discussion in 'Texans Talk' started by Ole Miss Texan, May 16, 2008.

  1. Ole Miss Texan

    Ole Miss Texan Hall of Fame

    Joined:
    May 8, 2006
    Messages:
    8,696
    Likes Received:
    685
    Just FYI... thought it was interesting.

    http://www.nfl.com/news/story?id=09000d5d8085c8c7&template=without-video&confirm=true

     
  2. Ole Miss Texan

    Ole Miss Texan Hall of Fame

    Joined:
    May 8, 2006
    Messages:
    8,696
    Likes Received:
    685
    I was kind of confused at first. You'd think now would be a bad time to sell your ownership interest because I see this as a team and organization on the up, as in only getting better and more valuable. However, sounds like he was forced to sell because of his relationship with the Golden Nugget, obviously a gambling-related business.

    My question is, if he's owned the Golden Nugget for three years why is he just now selling his interest in the Texans??? And if he bought his interest after owning the GN... why was he even allowed to buy in???
     
  3. TexansFanatic

    TexansFanatic Extremist

    Joined:
    Apr 29, 2004
    Messages:
    2,192
    Likes Received:
    188
    My thoughts precisely.
     
  4. ChampionTexan

    ChampionTexan Site Contributor

    Joined:
    Nov 25, 2007
    Messages:
    5,633
    Likes Received:
    762
    I'm virtually certain that Fertitta was one of the original minority owners, meaning that the gambling interest didn't exist at the time of his entry into NFL ownership.

    Why it took three years could be for several reasons. I doubt the NFL would require an owner to immediately liquidate, as a coerced sale of that nature would clearly make it difficult/impossible to obtain market value. It may be that there was some sort of time-frame built in, after which, the existing ownership group (which is who the article indicates bought him out) purchases at a defined amount. This is all speculation, but given the Texans FMV is probably north of $1 billion, it's not necessarily easy to sell even a minority interest. Minority interests can actually be harder to sell due to the limited control one has (As the esteemed John McMullen said in regard to being a minority owner in baseball "Nothing is more limited than being George Steinbrenner's limited partner"). And for the record, I'm not comparing McNair to Steinbrenner (or McMullen) in any way shape or form.

    It may also make a difference that I'm pretty sure Fertitta's interest in the GN was indirect thru his ownership in Landry's. Therefore there's some insulation between him and the gambling. This may have bought him some time, by making it a gray area and not immediately cut and dry that he would have to sell his interest.

    Also, The Golden Nugget's not just a gambling-related business, it's an NFL gambling related business. Don't forget that McNair himself owns and races horses, and while I don't think McNair has any business interest in the wagering part, folks have been known to bet a buck or two on that. Also, it's my understanding that while the Malouf brothers own both the Sacramento Kings and the Palms Casino, the sportsbook at the Casino doesn't take action on Kings games (or maybe it's the entire NBA - can't remember). This could have also been an action that the Golden Nugget was taking, or asked to take, and Fertitta just decided it wasn't worth it anymore.

    All of this is conjecture, and it could be 180 degrees off-base, but whatever the reason, 3 years may be pushing the boundary, but it's probably reasonable.
     
  5. TexansSeminole

    TexansSeminole Hall of Fame

    Joined:
    Apr 7, 2006
    Messages:
    8,824
    Likes Received:
    411
    Location:
    Orlando, FL
    I agree 1000% with this post. Yes, one thousand percent.

    Why sell your interest now, when the team is about to turn the corner?
     
  6. Carr Bombed

    Carr Bombed Hall of Fame

    Joined:
    Apr 29, 2004
    Messages:
    14,218
    Likes Received:
    1,053
    Location:
    Wherever the US govt. sends me
    Regardless if we were on the up and up or not......even through our worst years we still have been one of the most profitable organizations in the entire league...according to forbes list.

    (just checked it.....and infact we were #2 in the entire league)

    http://www.forbes.com/2006/08/29/06nfl_profitable_slide_2.html?thisSpeed=20000
     
  7. ObsiWan

    ObsiWan Site Contributor

    Joined:
    Jul 25, 2007
    Messages:
    18,894
    Likes Received:
    1,258
    Location:
    League City, Tx
  8. gary

    gary Hall of Fame

    Joined:
    Mar 12, 2006
    Messages:
    22,457
    Likes Received:
    848
    Location:
    Wheelchair
    I will be at a party with Tilman Fertitta tonight. I wll try to talk to him.
     


  9. Drew_Smoke

    Drew_Smoke @Drew_Smoke

    Joined:
    Dec 12, 2007
    Messages:
    1,433
    Likes Received:
    95
    Location:
    On My Perch In 117
    LOL...ask him why all of his establishments suck.

    It took so long to sell as they were appealling to the league to keep him around.

    Someone please tell Uncle Drayton that we don't want to see him behind the backstop anymore either.
     
  10. gary

    gary Hall of Fame

    Joined:
    Mar 12, 2006
    Messages:
    22,457
    Likes Received:
    848
    Location:
    Wheelchair
    I will.
     
  11. Drew_Smoke

    Drew_Smoke @Drew_Smoke

    Joined:
    Dec 12, 2007
    Messages:
    1,433
    Likes Received:
    95
    Location:
    On My Perch In 117

    Kewl...but do thank him for selling Joe's Crab Shacks. That was the best thing that could happen to them.
     
  12. Marcus

    Marcus Ruthless pragmatist

    Joined:
    Apr 30, 2004
    Messages:
    8,458
    Likes Received:
    741
    Location:
    Stafford, Texas
    Some of you guys are just effin ridiculous.
     
  13. Carr Bombed

    Carr Bombed Hall of Fame

    Joined:
    Apr 29, 2004
    Messages:
    14,218
    Likes Received:
    1,053
    Location:
    Wherever the US govt. sends me
  14. Drew_Smoke

    Drew_Smoke @Drew_Smoke

    Joined:
    Dec 12, 2007
    Messages:
    1,433
    Likes Received:
    95
    Location:
    On My Perch In 117
    I appreciate the compliment if you meant me. :dance3:

    Us Fifth Street homies don't fall too far from the tree...lol
     

Share This Page