Waddell investment down to the last 82M? OUT of (521M)

[HanzGruber]

I've heard AT MOST they blew through 150-200 million and most of that was for the time buys which keep in mind are 2-3 year deals so those are paid for. These guys are not being paid enough to be paid anything more than that. Even Garcia-Guerrero, each of them got 1.5 to 1.2 million. Some of the fights are landing on Showtime, CBS and those are paid with rights fees. Plus you have to factor in the ad money. They keep 100% of the ad money from those time buys and they seem to be securing more and more ads when you watch their shows.

That's not to say they won't go bust, but I think some people are exaggerating the facts to fit their agenda.

BPP with the ether

[OnePunch]

BPP with the ether

I didnt know anyone over the age of 12 still used the word "ether"......

[IMDAZED]

What hard question? The portfolio itself shows that media group holdings series H is down to 82M or 91M depending on how they themselves valued it. That's not an assumption, that's a fact that their website indicates. So, whether they lost all that money on boxing or on some other venture is not the point. The point is the money allocated for pbc is at a certain number and has lost a significant amount. Is that all the money they have left? Maybe, maybe not. The guy just reported what the Waddell website indicates. Interpret the implications how you like.

Yeah but you don't know what else is in those holdings. What if they're four companies they're financing through that? You don't know, and whoever that reddit guy is -- DEFINITELY doesn't know.

[aldo5408]

I didnt know anyone over the age of 12 still used the word "ether"......

Hey what does ether even mean?

[lizard_man]

Actually he left to start his own firm.

No you are wrong. He left to work for Haymon boxing. It's even mentioned in the lawsuit.

[sicko]

I've heard AT MOST they blew through 150-200 million and most of that was for the time buys which keep in mind are 2-3 year deals so those are paid for. These guys are not being paid enough to be paid anything more than that. Even Garcia-Guerrero, each of them got 1.5 to 1.2 million. Some of the fights are landing on Showtime, CBS and those are paid with rights fees. Plus you have to factor in the ad money. They keep 100% of the ad money from those time buys and they seem to be securing more and more ads when you watch their shows.

That's not to say they won't go bust, but I think some people are exaggerating the facts to fit their agenda.

Thread Over!

All we can do honestly is just wait and see how things play out. It is not enough events happening to blow money on Production and Fighters Purse. I hope PBC works out because I'm a boxing Fan, if it doesn't then worst case scenario is that they head back to Showtime and it is back to the old format. Fights on Showtime Network and PPV's

[The Big Dunn]

Hey what does ether even mean?

I asked you earlier. Is your contact saying PBC spent $130 mil in the last qtr in 2015? If so, given what we saw from them, you think that is accurate?

[Dr Rumack]

There's no way Haymon could actually have spent $400 million on PBC already. That seems impossible even with the jets. But if the fund is down to $80-90 million it's hardly a positive indicator.

When you look at PBC it's hard to find compelling evidence to support the notion that it is working. At the level of the individual shows it's difficult to see how the finances make sense. It seems like the purses are way too big for what 2-3 million viewers will generate in advertising revenue. That's the part that is a total mystery. And 'Al is a genius' isn't a satisfactory explanation for anyone.

[El-blanco]

Yeah but you don't know what else is in those holdings. What if they're four companies they're financing through that? You don't know, and whoever that reddit guy is -- DEFINITELY doesn't know.

Exactly, we don't know. We just know what the original number in that holding was, and what it is down to now. The money could have been lost on boxing or building a rocket ship. The point is the numbers he is using are real.

I'll link the article in a moment but here's a quote from it that indicates where they believe the money came from;

"With Haymon’s approval, however, Caldwell and Reed agreed to discuss the venture with SportsBusiness Journal, but declined to reveal financials. The investment detailed in this story came from the most recent quarterly portfolio list of the fund Caldwell co-managed, Ivy Asset Strategy Fund, which included among its holdings an investment that those familiar with the deal confirmed was Haymon Boxing: Media Group Holdings LLC, Series H.

Ivy Asset Strategy’s holdings list included a $371.3 million investment in the company. A second Waddell fund, WRA Asset Strategy, listed an investment of $42.2 million. A third fund, Ivy Funds VIP Asset Strategy, showed holdings of $18.5 million. Together they invested $432 million. It is likely other funds run by Waddell also have invested, a source familiar with fund management said, although their positions likely would be smaller."

http://www.sportsbusinessdaily.com/Journal/Issues/2015/04/20/In-Depth/Main.aspx

So, all we know based on that and several other articles that mention similar findings is that at one point the group holdings was over $400M and now, based on the Waddell Reed website, that particular holding in those funds is down to $82M. Like I said we can speculate that all that money went to boxing but we don't know. They could have invested half of it in something else to blunt the massive costs they accrued by launching the product and it didn't work out and now they are where they are. The fact remains, that holding has lost a lot. What the implications are, we don't know.

[Jubei]

Haymon wasting hundreds of millions and going broke soon. Who didn't see that coming?

Haymon nuthuggers now:

"He only lost 200 million tops doe, he is fine doe"

These guys are some crazy pathetic circlejerks. :bukkake: