I was determined to be bad, but I went straight to the Basketball Hall of Fame

Chapter 245 Five million crickets

The Clippers recently conducted a financial audit during the offseason, and the accounting firm issued a financial report.

The report shows that the Clippers' financial situation is good, and they turned losses into profits in the 2009-2010 season, and even made a profit of more than 500 million US dollars!

The market value has increased by 6000 million to 3 million yuan.

No wonder Rosser called Min Congda very excitedly after the financial report came out, saying that he wanted to report good news.

Hearing the word "good news", Min Congda's head was about to explode, and then he looked at the financial report sent in the mailbox:
$500 million profit!

A profit of $500 million is not a lot for a team that has always had a market value of more than $3 million.

But the background of the current American economy is depression. Last year, the total losses of NBA teams reached 4 million US dollars.

It is equivalent to an average loss of 1300 million per team. Under such circumstances, the Clippers were able to go against the market and make a profit of 500 million US dollars, which is already very remarkable.

Moreover, the Clippers not only made a profit, but also made the playoffs, which is a great benefit to the team's valuation.

Because excellent players are the best assets of the team, which will guarantee ticket sales and increase ratings in the future.

Coupled with the fact that the entire NBA is gradually repairing their losses, the market value of the Clippers has increased by as much as 6000 million.

The $500 million also played a role in increasing the valuation. It proved the Clippers' profitability to the capital market and was a weather vane.

Although Min Congda already knew that the market value of the Clippers had increased by 6000 million when the system settled the market value dividend at the end of the season.

But after actually seeing the financial report, Min Congda still felt hurt.

Min Congda evaluated the investment projects he made last season:

The documentary "Basketball and Base" has an investment of 1000 million, and the current actual income is 3000 million. There are also invisible goodwill and traffic bonuses. It is unknown what benefits it will bring in the future.

Fiasco.

The "Red Boots" restaurant attracted Anschutz's investment, and the loan of 50 US dollars was fully settled.

Not only that, but the bank also added a $2000 million working capital line of credit to the Clippers, which can be loaned at any time.

Now the Red Head Boots restaurant has become the star restaurant of Staples, and the revenue is constant, because Staples has too many games.

Fiasco.

The "Three Treasures Project" is currently being enthusiastically implemented. According to Fan Chen's report, a youth basketball game in Shanghai has been organized in August.

However, no talented basketball teenagers have been found so far, let alone entering the NBA, the CBA is enough.

Cash flow shredders in the next five years, but the plan is implemented late and has not yet entered the loss-making stage.

It takes persistence.

The "Siku Project" is not considered an investment project, because there is no capital cost, and it all depends on Min Congda's mouth.

The core purpose is to use NBA-Batman to attack the Clippers' goodwill, but the effect is mediocre at present.

And the private messages from the backstage who want to come to advertise and cooperate every day are about to explode.

Min Congda felt a pain in the head just by looking at it.

But he still insists on updating, as a great joy of life.

Neither fail nor succeed.

"Afang Palace Project", long-term investment, the No. [-] ultimate weapon of the Clippers' destruction plan.

Everything is still under consideration. According to several exchanges with Anschutz, he believes that if he wants to build a new arena, he should consider buying the Great Western Forum first.

Because of the entire Los Angeles area, the vicinity of the Great Western Forum is the most suitable for a new arena.

It can complement the Great Western Forum and become a new sports and entertainment center in Los Angeles in the future.

For this idea, Min Congda is actively promoting it, but it will not be possible for a while.

Because if you want to buy it, people are not willing to sell it. Buying an arena depends on the timing.

In the bud, Min Congda's hope lies.

These plans are currently either being implemented and cannot reflect the effect.

Either it has been a fiasco, and Min Congda has not been able to end them
It is said that investing to make money is not easy, why does Min Congda think it is not easy to invest in prodigals?

In addition to investment, Min Congda raised the ticket price of the team, and as a result, the box office revenue was very good last season.

This season has not yet started, season ticket renewals have reached 120%, more than last season.

That is to say, the season has not yet started, and the Clippers have already obtained tens of millions of liquidity!

This made Min Congda very desperate. Could it be possible to increase the salary of the Clippers employees?
No, the same trick system is no longer allowed. It is obviously not in line with the law of the market that you continue to increase.

Give players better hotels and better transportation during summer league?
It doesn't work, it doesn't cost much at all, and the cost of tens or hundreds of thousands of dollars is not enough in the face of tens of millions of funds.

Seeing that there will be more and more income, but there will be less and less places to spend money.

Either it can't be spent, or it can't be spent at the moment, or it can be spent and get back more.

Min Congda was in a hurry at home, not in the mood to cook, and ordered takeaway every day.

The profit of this 500 million US dollars is really eye-catching, the cricket is 500 million, is there no way to defeat it?

The Clippers are currently in an embarrassing period in terms of capital expenditure, because the team's biggest expense is actually the luxury tax.

For example, the Cleveland Cavaliers still lost money last season while sitting on the ticket-selling artifact of LeBron James.

It's not because their income is not high enough, but because they spend too much on player salaries and pay too much luxury tax.

Over the past four years, the Cavaliers have paid $7100 million in luxury taxes in order to build a championship lineup for James.

The average annual tax payment alone is close to 2000 million, and the profit is all used to pay taxes, so there is no leftover.

The Clippers are different. Their salary situation was very healthy last season.

This season, Min Congda's two big contracts have locked up the space.

In the future, players such as Curry, Harden, and Gasol are facing contract extensions, and they must be super cap picks.

At that time, it is certain that the team's total salary will exceed the luxury tax line, and it will be necessary to pay the luxury tax to the league.

For every dollar above that, there is a dollar of tax paid.

When the luxury tax rules were just implemented in the 2002-2003 season, the Portland Trail Blazers paid a luxury tax of US$5200 million!
The salary cap that year was only 4700 million U.S. dollars. It can only be said that the boss of the Blazers is really rich and willful.

When the Clippers' various contract renewals come, Min Congda will definitely let the Clippers' luxury tax explode!
At that time, Min Congda does not believe that the Clippers will not lose money or go bankrupt.

The problem is, from the point of view of Curry's contract renewal, let alone wait until 2012, there are still two years left.

For the past two years, Min Congda couldn't just do nothing and wait, right?
The 500 million US dollars is so eye-catching, how can we think of a way to get rid of it?

While Min Congda was thinking hard, the alliance office called him.

They informed Min Congda that after selection by the judges, he successfully won this year's James Walter Kennedy Citizenship Award.

Let him go to New York to accept the award!

Min Congda almost forgot all about it, he only remembered the $[-] donation that made his heart ache!
He was scared, and asked David Stern on the phone: "I'm just going to accept the award? Do you want to donate?"

Stern said: "I just came to accept the award. The foundation has started to operate normally. If you want to donate, we will not stop you."

No, I don't want to, I'd better support the development of our Chinese youth and children's basketball.

Now that the headquarters has issued an invitation, Min Congda, who has been sitting at home thinking about investment, can only go downstairs for a walk.

He asked the system on a whim: "Can I donate the team's 500 million profits to the African Children's Basketball Development Foundation?"

【cannot. 】

"I am Gan Liliang! You have no love in this system."

(End of this chapter)