The Rumours and Speculation Thread #4
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05-10-2013, 11:25 AM
Join Date: Apr 2007
Originally Posted by
A lot of sports team owners aren't in in for the money though. Some do treat it like an investment and those teams tend to suffer (like the Dodgers under McCourt), but for many of them it's a prestige thing. Another shiny toy alongside their private jet and Mediterranean villa. If they happen to turn a profit, great. If not, they still get to tell all their friends they are part owners of a professional sports franchise and sit in the nice box seats.
It's both. Prestige and making money. If doesn't make money - tax write off. If grows a little -- keeps up with inflation so your investment /money doesn't depreciate. If grows a lot - profit.
Buying a sports team is akin to buying a house. A non-liquid asset that tends to beat inflation. Wealthy people are good at making money. There is a reason that wealthy men fall all over themselves to purchase one.
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