A Very American Coup By Michael – Louis Ingram, Editor-in-Chief...
Second African American Owner May Join NBA ‘CLUB’ It’s A Grizzlie Story
SECOND AFRICAN AMERICAN OWNER MAY JOIN NBA ‘CLUB’ IT’S A GRIZZLIE STORY
Well it’s about Time
how about long PAST Time
another NBA franchise may
“fall” to Black ownership
( we’re sounding like the white media )
The Memphis Grizzlies are definitely being sold soon. Their White majority owner is in serious financial straits. The only thing standing in the way of developer and former Duke University basketball star Brian Davis are the current “minority” owners White “minority” owners who own 30% of the team.
These guys headed by the founder of AutoZone have the right to match Davis’ offer within 60 days and take 100% ownership. This group led by J.R. Hyde is sounding like they will go with the flow, keep their 30% rather than grabbing it all. But there are no guarantees. What Brian Davis, 36, has going for him is a great reputation in the area, the support of fans and players, and the fact the “minority” partners are likely to do better if Davis gets the Majority.
In recent years out of Vogue ..
It appears once again the idea of a big time sports franchise as a vehicle for developing an area or an entire city is back in style. That is certainly Brian Davis’ larger motivation. What seems to have changed in the equation once again is greater sophistication on the part of would be owners in truly understanding how to leverage a sports asset for development purposes.
Inescapably intertwined is the ever growing interest of the Richer Half who like the idea of living near a major team’s arena. It certainly is increasing values of Division I college football colleges and and their area surrounding many of their football stadiums. NBA Basketball and a nearby team has an even greater appeal for some. The arenas are more compact, enclosed and accommodate smaller crowds while hosting far more games to attend than football schedules.
In addition …..
Big Time Sports franchises are power enhancers for their owners in ways large and small, and maybe best of all all but the worst of franchises – and even those – are appreciating assets in our world. It is literally GUARANTEED any professional franchise purchased can be sold for a BIG profit 10 years or far less in the Future.
Too bad more African Americans
can’t do the math
Brian Davis has and is. Plus he is Talking the Talk. In recent interviews castigated fellow successful African Americans especially those in Sports themselves, for not actively participating in the appeal of OWNING the types of teams they have played for and make more money for themselves while changing the ownership structure in Sports to Black & White.
As much as you can argue that the barriers to African American ownership are high in that so many if these deals are Inside Deals made secretly in the various Rich White Boys Clubs, rarely, make that almost never the fact is do African Americans Bid on available franchises.
There is no reason in the world they don’t do what so many White Bidders do form partnerships and collect the funds from various sources. And in many cases financing much of the purchase price with bank loans using the value of the team itself as Collateral. You don’t have to be a Rocket Scientist.
Now here is Brian Davis in his own words ….
“We want to elevate what is going on downtown,” Davis says. “To bring in more hotels … more retail and residential areas and fill in the dead spots. Regionally, Memphis has the opportunity to be the epicenter of the entertainment world. Hopefully, jobs will go up, pay will go up and that is the full cycle.”
Sports franchise ownership
hand in hand
more and more
in Black Hands
We can Hope
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BRIAN DAVIS IN MEMPHIS