Oh it’s fun for me

Is it not crazy to essentially start a life insurance company, take the payments, and pay them to LeBron in exchange for 5% profit someday paid for by future earnings..

Every celebrity should be mortgaging future likeness rights right now.

I’d be happy they face consequences even if my team gets the worst, it’s all pointless otherwise

This was me when Chauncey Billups got arrested.

Guess what - all billionaires are asshole pieces of shit.

It’s fun for me though.

It’s more fun being on this side of the weird finance fence.

I’m having a great time.

rubs hands together

For once I’m glad the team I like is irrelevant.

Maybe Pablo can avenge Magic getting the rebound in the 1991 WCF and intelligently tossing it to the other end of the court. Seeing that ball bouncing as the clock ticked down still haunts my dreams, and the refs even screwed up and stopped the clock while the ball was bouncing, giving the Blazers one extra Hail Mary chance when the game should have been over.

Yes I’m still bitter. 😭 

Super team

Someone needs to photoshop them on the LBJ Wade dunk photo

“Aspiration”

“What?”

“Aspiration”

“Oh hahahahaaa how did you know about that?”

“You’re Kawhi Leonard, we have to know”

I want them to swap wardrobes for a week

Did not expect to see Nardwuar to pop up in this thread.

Judging by some of the reactions he gets, I think that dude knows more about the person he’s interviewing than they know about themselves lmao.

Doot doot doot…. 

And we are with Ka- ____? Uh almost. You are ka-___? Kawhi, that’s right we’re here with Kawhi Leonard and right at the start we have a gift for you…

Imagine if r/NBA teamed up with r/hiphopheads 😎

Silver would veto the trade

Just regular rich people shit.

He’s always been in this. Magic and Mark Wlater have a financial relatilonship going back decades.

He is a billionaire so it doesn’t surprise me too much

What sham endorsement deal did Magic do?

Almost like it’s real journalism or something. Unfortunately, still ain’t gonna lead to consequences since the commissioners are employed by the owners (Ballmer’s literally negotiating with Silver on his own damn punishment)

What Pablo is reporting here is an extremely small tidbit in a massive financial story that hundreds of reporters are already covering way more in depth.

I get that nobody here ever reads actual news, but this continues to be discouraging to me. This component of the story is basically nothing compared to the full scale of Walter’s bullshit, but you have people in these comments acting like Pablo is putting his life in danger by reporting on it. Some of you sincerely need to broaden your horizons.

PT is the new boogeyman - don’t look under the bed

Riding “healthcare assets” all the way into being a billionaire. Shout out to profiting through the suffering of others, I suppose

Well, we already know LeBron twerked for China when they were brutalizing Hong Kong and rounding up Uyghurs in concentration camps. He put his economic interests first.

Mark Walter owns a giant fund which owns a bunch of insurance companies in addition to sports teams.

There are federal regulations that require insurance companies to report loans if they are “related party” meaning that if the same parent company owns both.

Mark Walter loaned money from some of his insurance companies to others, but funneled them through third parties in order to hide the source. Presumably this what to hide from the related party reporting requirements.

Mark Walter is now under investigation for these insurance loans and in addition to having to come up quickly with liquidity may face additional penalties.

Magic Johnson appears also to have an ownership interest in one of the affected insurance companies.

Magic Johnson was the Lakers president.

Magics business partner loaned LBJ 300mln.

LBJ joins the Lakers a few months later.

Business partner later buys the team owning the contract of a guy who owes him 300mln.

Turns out, all the money was fraudulent.

Owner sells team to collect on assets to repay fraud.

LBJs loan is based on future Nike earnings, what happens here?

Nike’s stock has been crashing.

What a world

Sterling was a slumlord in his main business and with the Clippers, if true it helped everyone except Sterling (nobody wanted Sterling to stay).

I actually like that theory. Balmer wanted a team, had PIs look into rumors about Sterling, found out about his mistress and the access she had to him and his dealings, gave her a few mil to set up and record him saying wild shit, then slipped a bag over to Silver and Sterling’s wife to move along a sell off , and the rest is history..

Magic is shooting jumpers on a superyacht, but Pablo is rowing behind him picking up the errant shot basketballs 

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Who was the second?

I think your username didn’t help your case. But walk your walk and talk your talk my brother.

Mark Walter is a dry life insurance regulation story. I’m not saying there aren’t real concerns, but it was real loan for real companies underpinned with real money. Far far away from Madoff and a ponzi scheme.

The real takeaways for this summer is how much the market nerds, money managers and PE have infected sports leagues. Teams are now an asset to be leverage and a synergy in a vertical stack.

Idk you got the Lebron $300 million loan before going to the Lakers…..

From the standpoint of an NBA fan? Sure.

From the standpoint of how fucked up the US is? This is a much bigger story.

The Aspiration thing is just a billionaire fucking over other billionaires using his billions.

This is fucking over regular Americans.

What he is doing is buying company’s via loans from his insurance businesses, where the insurance company gets a percentage return (dodgers sold its TV revenue, to a mark Walter insurance company for like 1.5b which was used to by the dodgers) based on the loans and the owners keep the business, this is how Warren buffet got so rich and how PE works by selling the assets (store fronts) to finance the purchase.

This video was very Torre-esque!