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John Mara tells STL Judge he doesn't know his net worth

OdellBeckhamJr : 10/13/2021 5:15 pm
this is part of the Rams relocation lawsuit

Quote:
John Mara has provided less financial info than Hunt, only documents showing that he owns Giants, their stadium, and is part of stadium partnership. He has not declared a net worth.


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NFL attorney argues that John Mara’s business is the Giants and that since the team hasn’t been sold in “forever” long he doesn’t know the worth of the team.


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St. Louis judge fines 4 NFL owners for not turning over financial information - ( New Window )
...  
broadbandz : 10/13/2021 5:26 pm : link
nobody in the entire org has any idea about anything.
i know we like to beat up Mara  
ECham : 10/13/2021 5:26 pm : link
but this is probably true, maybe he will put the team on the market and findout
RE: i know we like to beat up Mara  
bluewave : 10/13/2021 5:34 pm : link
In comment 15412527 ECham said:
Quote:
but this is probably true, maybe he will put the team on the market and findout


I literally don't understand why people want Mara to sell the team. I hope the Mara and Tisch families do sell. It won't be cheap and the only people that have enough money buying are the Daniel Snyders of thew world.

These will be people who are not "Football" people. If that's what you want that's what you are going to get! The grass is not always greener on the other side. Something OBJ figured out way to late in life!!!!

RE: RE: i know we like to beat up Mara  
MOOPS : 10/13/2021 5:45 pm : link
In comment 15412541 bluewave said:
Quote:
In comment 15412527 ECham said:


Quote:


but this is probably true, maybe he will put the team on the market and findout



I literally don't understand why people want Mara to sell the team. I hope the Mara and Tisch families do sell. It won't be cheap and the only people that have enough money buying are the Daniel Snyders of thew world.

These will be people who are not "Football" people. If that's what you want that's what you are going to get! The grass is not always greener on the other side. Something OBJ figured out way to late in life!!!!


A little bit of knowledge can be a dangerous thing.
RE: RE: i know we like to beat up Mara  
ajr2456 : 10/13/2021 5:49 pm : link
In comment 15412541 bluewave said:
Quote:
In comment 15412527 ECham said:


Quote:


but this is probably true, maybe he will put the team on the market and findout



I literally don't understand why people want Mara to sell the team. I hope the Mara and Tisch families do sell. It won't be cheap and the only people that have enough money buying are the Daniel Snyders of thew world.

These will be people who are not "Football" people. If that's what you want that's what you are going to get! The grass is not always greener on the other side. Something OBJ figured out way to late in life!!!!


What’s Odell got to do with this? He’s on a potential playoff team. Seems like he’s better off
No millionaire doesn't know what his prized possession  
Ten Ton Hammer : 10/13/2021 5:55 pm : link
Is worth. He's lying. All the NFL owners lie about the books.
RE: RE: i know we like to beat up Mara  
Jint Fan in Buc Land : 10/13/2021 7:00 pm : link
In comment 15412541 bluewave said:
Quote:
In comment 15412527 ECham said:


Quote:


but this is probably true, maybe he will put the team on the market and findout



I literally don't understand why people want Mara to sell the team. I hope the Mara and Tisch families do sell. It won't be cheap and the only people that have enough money buying are the Daniel Snyders of thew world.

These will be people who are not "Football" people. If that's what you want that's what you are going to get! The grass is not always greener on the other side. Something OBJ figured out way to late in life!!!!


Panthers are doing ok. Not all new owners would be bad and you could argue it would be hard to be worse as we have the worst cumulative record in the entire league over the last few years
Mara will NEVER sell.  
SFGFNCGiantsFan : 10/13/2021 7:02 pm : link
Never. Don't even bother entertaining it. 1) This franchise is in his DNA, 2) You're part of a select club & 3) See points 1 & 2.
Lost in this post  
pjcas18 : 10/13/2021 7:03 pm : link
is that this is actually a pretty wild story and I'm not a legal expert but I think there is a good shot as a result of the fact they have the NFL dead to rights, St Louis could wind up with an expansion team because of it.

Kraft, Jerry Jones, Mara, and I think Hunt are the owners named (and I think implicated).
Why is this surprising.?  
Mad Mike : 10/13/2021 7:10 pm : link
Most of his net worth is an interest in a privately held business. A business with many different streams of income.
Valuation of that would be a major endeavor, and it would be foolish of him to put a number down that didn't come from an appraisal.
...  
SFGFNCGiantsFan : 10/13/2021 7:12 pm : link
Is St. Louis even a good football market? The Cards & Rams have both left the town. I know it's a baseball crazed place, but no clue about how the locals feel about football.
RE: Why is this surprising.?  
OdellBeckhamJr : 10/13/2021 8:30 pm : link
In comment 15412673 Mad Mike said:
Quote:
Most of his net worth is an interest in a privately held business. A business with many different streams of income.
Valuation of that would be a major endeavor, and it would be foolish of him to put a number down that didn't come from an appraisal.


it's not? He's in the news and the relocation lawsuit is picking up steam so I thought I'd post it.
RE: ...  
TheEvilLurker : 10/13/2021 9:19 pm : link
In comment 15412677 SFGFNCGiantsFan said:
Quote:
Is St. Louis even a good football market? The Cards & Rams have both left the town. I know it's a baseball crazed place, but no clue about how the locals feel about football.


I live in the area, and yes, it is a good football market. Not as much as baseball, but probably next up. I think it's more popular than soccer here, although others may differ.

A lot of fans switched from the Rams to either KC or Green Bay. They were, and probably still are, angry about the Rams leaving, and HATE Stan Kroenke.
So Mara is lying  
Ike#88 : 10/13/2021 9:20 pm : link
as is Jones and Kraft. The NFL ownership is a cabal and the small fine imposed by the judge they spend on the game buffet in their owners suites. We will see where this strategy takes things.
St.Louis will support good football…  
Mike in St. Louis : 10/13/2021 9:25 pm : link
as was demonstrated by the Greatest Show on Turf…

Before that they had the boob Bidwill and after that they had Kroenke, who intentionally went in the tank (see Jeff Fisher coaching the team for four years, three years too long) in order to be able to claim St. Louis didn’t support his team do he could move it.

One problem is St. Louis badly needs a new suburban stadium. The current downtown dome is in an awful location (little parking, no tailgating) because in order to get the money to it build it and get the Rams here, the politicians made it part of the downtown convention center so it could be used for monster truck shows and home and boat shows.
It's easy to calculate the value of current Giants assets  
GeofromNJ : 10/13/2021 9:29 pm : link
However, when bidding on the team, any prospective buyer is paying for the ability of the team to generate future revenue and the value of future revenue is not a known number, but merely an informed guess.
WTF???  
Larry in Pencilvania : 10/13/2021 10:07 pm : link
Celebrity net worth says he's worth $500 million. Good enough for me
Yes John Mara is not the 'stand up guy' we sometimes portray him on  
Dinger : 10/14/2021 8:43 am : link
here. He's a rich douche when it comes to his money. I think most could already assume that. He knows his net worth and as involved as he is in the league he knows all the other owners net worth. But they are a private 'company' and I'm sure the accounting rules for the knowledge of 'net worth' aren't required. He's protecting the league the franchise and his own ass.
RE: Yes John Mara is not the 'stand up guy' we sometimes portray him on  
nygiants16 : 10/14/2021 8:51 am : link
In comment 15413039 Dinger said:
Quote:
here. He's a rich douche when it comes to his money. I think most could already assume that. He knows his net worth and as involved as he is in the league he knows all the other owners net worth. But they are a private 'company' and I'm sure the accounting rules for the knowledge of 'net worth' aren't required. He's protecting the league the franchise and his own ass.


He is the owner of the company, his net worth is based on the value of the company, with the pandemic there is no way to really know what the value is right now..

You can make an estimate or a guess but it wouldnt be accurate..

You dont know what he takes as a salary or if he even takes one
Net Worth Is Easy To Estimate  
JoeDonLooney : 10/14/2021 9:12 am : link
Net Worth or Valuation? One sort of mimics the other.

As a business professional who has worked with VCs and banks on Wall Street, Mara and Tisch could easily estimate their net worth based on revenue and cash flow. That is what the sharks do. I am sure that the owners monitor what the multiples of revenue to team valuation of previous NFL team sold for. Such a valuation could easily be utilized as a surrogate to determine the net worth of the NY Football Giants.

I would be flabbergasted, given that their (Mara and Tisch) partnership report yearly their revenue and income for tax purposes. That can also be used as a basis for valuation and net worth because I would be surprised if there are not any loopholes or tax avoidance financial tools that they exercise. That is why cash flow is important and would be used as a means to enhance valuation.

I am confident that the Maras and Tisch families have yearly financial statement including balance sheets, income statements and cash flow statements and a running estimate of valuation that they review yearly in their board meetings. It is necessary to conduct strategic and financial planning for the team as well as determining what the payout is to the partners. Their CPA firm have all these records.

Let's face it, these owners don't want the public to know anything. Any fines are trivial in this regard.
RE: Net Worth Is Easy To Estimate  
Mad Mike : 10/14/2021 9:20 am : link
In comment 15413071 JoeDonLooney said:
Quote:
Net Worth or Valuation? One sort of mimics the other.

As a business professional who has worked with VCs and banks on Wall Street, Mara and Tisch could easily estimate their net worth based on revenue and cash flow. That is what the sharks do. I am sure that the owners monitor what the multiples of revenue to team valuation of previous NFL team sold for. Such a valuation could easily be utilized as a surrogate to determine the net worth of the NY Football Giants.

I would be flabbergasted, given that their (Mara and Tisch) partnership report yearly their revenue and income for tax purposes. That can also be used as a basis for valuation and net worth because I would be surprised if there are not any loopholes or tax avoidance financial tools that they exercise. That is why cash flow is important and would be used as a means to enhance valuation.

I am confident that the Maras and Tisch families have yearly financial statement including balance sheets, income statements and cash flow statements and a running estimate of valuation that they review yearly in their board meetings. It is necessary to conduct strategic and financial planning for the team as well as determining what the payout is to the partners. Their CPA firm have all these records.

Throwing on a multiple on something is fine, but for a highly illiquid asset with very few comparable transactions, it's a ridiculously rough estimate. There's no doubt Mara is aware of the implied multiples from any other transactions of nfl teams, but it's been the better part of a decade, and en entire pandemic, since there's been one. It would be really foolish, bordering on absurd, for him to put a number on the value of his interest in the team, as part of legal proceedings no less, just based on slapping a multiple on recent financial results. Any of the credible VCs you work with know that well.
IMO there's three possible reasons for him lying  
arniefez : 10/14/2021 9:28 am : link
and he is lying. If it was in his interest he'd have a number.

One it's much lower than most NFL owners or two it's so much higher than he wants public or three he doesn't want the other 10 members of his 50% to know. I'll bet on one. Remember he owns 1/11th of 50% of the Giants.
RE: RE: Net Worth Is Easy To Estimate  
JoeDonLooney : 10/14/2021 9:31 am : link
In comment 15413083 Mad Mike said:
Quote:
In comment 15413071 JoeDonLooney said:


Quote:


Net Worth or Valuation? One sort of mimics the other.

As a business professional who has worked with VCs and banks on Wall Street, Mara and Tisch could easily estimate their net worth based on revenue and cash flow. That is what the sharks do. I am sure that the owners monitor what the multiples of revenue to team valuation of previous NFL team sold for. Such a valuation could easily be utilized as a surrogate to determine the net worth of the NY Football Giants.

I would be flabbergasted, given that their (Mara and Tisch) partnership report yearly their revenue and income for tax purposes. That can also be used as a basis for valuation and net worth because I would be surprised if there are not any loopholes or tax avoidance financial tools that they exercise. That is why cash flow is important and would be used as a means to enhance valuation.

I am confident that the Maras and Tisch families have yearly financial statement including balance sheets, income statements and cash flow statements and a running estimate of valuation that they review yearly in their board meetings. It is necessary to conduct strategic and financial planning for the team as well as determining what the payout is to the partners. Their CPA firm have all these records.



Throwing on a multiple on something is fine, but for a highly illiquid asset with very few comparable transactions, it's a ridiculously rough estimate. There's no doubt Mara is aware of the implied multiples from any other transactions of nfl teams, but it's been the better part of a decade, and en entire pandemic, since there's been one. It would be really foolish, bordering on absurd, for him to put a number on the value of his interest in the team, as part of legal proceedings no less, just based on slapping a multiple on recent financial results. Any of the credible VCs you work with know that well.


As I illustrated, there are multiple avenues and the banking interests use all of them. So what? Their partnership "books" also their tax filings are basis as well. There are many avenues to easily determine net worth and valuation is just one avenue. VC and bankers know this.
RE: No millionaire doesn't know what his prized possession  
Thegratefulhead : 10/14/2021 10:35 am : link
In comment 15412574 Ten Ton Hammer said:
Quote:
Is worth. He's lying. All the NFL owners lie about the books.
This.
Probably  
Les in TO : 10/14/2021 11:04 am : link
Doesn’t want irate PSL holders to find out how wealthy he is
Good point Les  
arniefez : 10/14/2021 11:05 am : link
I would bet that's on the list of reasons.
.  
ghost718 : 10/14/2021 12:07 pm : link
RE: IMO there's three possible reasons for him lying  
Dinger : 10/14/2021 3:33 pm : link
In comment 15413098 arniefez said:
Quote:
and he is lying. If it was in his interest he'd have a number.

One it's much lower than most NFL owners or two it's so much higher than he wants public or three he doesn't want the other 10 members of his 50% to know. I'll bet on one. Remember he owns 1/11th of 50% of the Giants.


Great point(s). I forget that he's part of the family and while he maybe 'president' he isn't the only Mara with ownership. I'd love to know how ownership breaks down on BOTH the Mara and Tisch sides.
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