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View Full Version : If you won the lottery would you buy the pirates?



raiderfaninTX
03-30-2012, 09:42 PM
If you could purchase the pirates with tonight's winnings would you?

bosox3431
03-30-2012, 09:54 PM
After taxes you prolly wouldn't have enough and if you did have enough you'd be close to broke.

MotownWebGuy
03-30-2012, 09:55 PM
Absolutely not investing in a sports team.

raiderfaninTX
03-30-2012, 09:58 PM
I dont know how it works, so this 460 mil lump sum is not taxed?

ManRam
03-30-2012, 10:05 PM
Duh...


That would be the first thing I'd do. No joke.

However, not sure it would be enough (i have no idea off hand how much the team values at)...

Nymfan87
03-30-2012, 10:15 PM
Out of $640 million, approximately 35% of that would be taxed. That would leave you with about $416 million, and I don't know if they make you take a further chunk of that to make it a lump sum. But even if you invested that money in something that gave you a 4% annual return, you'd be looking at about $615 million in 10 years...and at that point you buy 51% of the Pirates.

Also, there is no way in hell MLB would allow a lotto winner to buy a team unless they had proven over a number of years they could increase that wealth. What are you going to do if you spend every dollar you have buying the Pirates and the team loses money for the first few years? You need piles and piles and piles of cash laying around to buy a team.

PhillyFaninLA
03-30-2012, 10:18 PM
No way.

This is the type of thing that leads someone to get a lot of money then end up bankrupt.

You need to have a successful company or billions in the bank to make sure you can maintain all operating expenses and not just rely on potentially advertising revenue, tv contracts, or revenue sharing.

SportsAndrew25
03-30-2012, 10:26 PM
Blowing that money fast when I win!!!!!! **** the Pirates.

bosox3431
03-30-2012, 10:35 PM
I dont know how it works, so this 460 mil lump sum is not taxed?

That's before taxes. That's the cash value of the prize. After that you get taxed. I believe after taxes and stuff you usually end up with around half of what the advertised jackpot was.

The 6-4-3
03-30-2012, 11:59 PM
I WOULD only if I had an ridiculous amount of money in my account.

I wouldn't put every penny I have on a franchise, LET ALONE THE PIRATES!

LASportsFan1996
03-31-2012, 12:11 AM
Hell No. The Pirates Blow ***

1903
03-31-2012, 12:12 AM
The total is around $350 million if you take the lump sum and minus taxes. Not enough.

Jeffy25
03-31-2012, 12:25 AM
Literally talked about this today.

They would be the franchise I would most want to buy, and I'm a Cards fan.

letsgobrownies7
03-31-2012, 12:28 AM
I would do it.

More-Than-Most
03-31-2012, 12:44 AM
I would go in with someone and own part of them yes

edited-nvm about the numbers

1903
03-31-2012, 12:46 AM
where is everyone getting these numbers from...you would take home like 450 plus mill or something like that...They were talking about it on the news... I would go in with someone and own part of them yes

$462 million if you take the lump sum and $347 million once federal taxes are taken.

LAOwnsAll15
03-31-2012, 01:03 AM
You need piles and piles and piles of cash laying around to buy a team.

Tell that to Frank McCourt he never had remotely enough cash to buy the Dodgers and had them something like 600 million in debt from the league.

Mell413
03-31-2012, 01:05 AM
I would do it and trade McCutchen to the Cubs :)

theproof
03-31-2012, 01:07 AM
Simply put. **** no.

BlinkManJan02
03-31-2012, 01:20 AM
I may go in on buying them, but not all outright.

ShockerArt
03-31-2012, 01:26 AM
Also, there is no way in hell MLB would allow a lotto winner to buy a team unless they had proven over a number of years they could increase that wealth. What are you going to do if you spend every dollar you have buying the Pirates and the team loses money for the first few years? You need piles and piles and piles of cash laying around to buy a team.

The MLB let Frank McCourt buy a team without any funds of his own.

BlinkManJan02
03-31-2012, 01:27 AM
I may go in on buying them, but not all outright.

RTL
03-31-2012, 01:53 AM
Without hesitation I would love to be the majority investor

es0terik
03-31-2012, 02:03 AM
I'd probably try to be smart about it, invest it, get some interest on it, and then once I had added to that amount significantly and had a lot of money left over, I'd probably partner up with someone else and bid for a majority 51% stake.

BlueJayFanDan
03-31-2012, 08:25 AM
I would do it and trade all 3 decent players in their organization to the Blue Jays for the worst prospects on the Blue Jays, than quickly sell the team even if it is at a little bit of a loss.

Tkais9009
03-31-2012, 12:30 PM
yeah no doubt

sexicano31
03-31-2012, 12:52 PM
Hell No. The Pirates Blow ***

Didn't the dodger sell for 2bil?

es0terik
03-31-2012, 12:53 PM
I would do it and trade all 3 decent players in their organization to the Blue Jays for the worst prospects on the Blue Jays, than quickly sell the team even if it is at a little bit of a loss.

:laugh:

I don't think you're actually allowed to do that.

dee279
03-31-2012, 12:56 PM
Dat would be a waste to me and it also is not enough of money. Id rather buy the Hornets