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

[daggum]

you say where did all the money go well lets see for example....

haymon has to spend money on time buys for lara to fight
haymon has to spend money to rent out an arena for lara to fight in
haymon has to spend money on production values, crew, announcers, etc...for a lara fight
haymon has to pay lara a salary of one million dollars
haymon has to pay for advertising for the lara fight

now multiply that by about 50 and yea no money!

[Fetta]

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

you're on a forum that uses "doe" on a regular basis. Just saying

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.

I just watch the fights but you have quoted 432 and the original says 521. Which is it?

[New England]

I don't need a better anything. I trust my source if you don't like it then gtfoh

well, if you only care what you think about your sources while continuing to share them without expecting them to be criticized, it's on you

[IMDAZED]

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.

Exactly. Could be 10 investments in there -- all of them where they plan to spend that money. Which is why what the guy posted was just pointless.

Like me saying, "I looked in your checking account and you're down 84%! Spending all that money on shoes smh" when it actually went to rent. But you know how people are on here.

[El-blanco]

you're on a forum that uses "doe" on a regular basis. Just saying

I just watch the fights but you have quoted 432 and the original says 521. Which is it?

In the article it mentions other possible funds that invested in it, check the quote I posted for the reference. I'm just personally referencing information that is available on multiple sites when discussing the amount invested. The amount in those funds can also be verified be verified on the waddell and reed website where you can track the progression of each holding.

[OnePunch]

Hey what does ether even mean?

10 years ago is was a good substitute for "clowned"

but these days its on the same level as some nerdy white guy yelling "WORLDSTAR!!!" in the backround of any street fight video......

[aldo5408]

well, if you only care what you think about your sources while continuing to share them without expecting them to be criticized, it's on you

The only one here crying and critiquing is you
you didn't like my source, I couldn't care less
Did you really have to post that

[aldo5408]

you say where did all the money go well lets see for example....

haymon has to spend money on time buys for lara to fight
haymon has to spend money to rent out an arena for lara to fight in
haymon has to spend money on production values, crew, announcers, etc...for a lara fight
haymon has to pay lara a salary of one million dollars
haymon has to pay for advertising for the lara fight

now multiply that by about 50 and yea no money!

Go back to the first pages haymon bought 3 private planes

[Scipio2009]

So are they screwing up and losing a shit ton of money here? Or is this basically a fund that was always intended to be spent like this? Does it take into account money made from ticket sales, sponsorship etc.?

^^^wwcd

Since about May, PBC has consistently been selling ad spots for basically all of their shows, with Corona, Applebees, 1800 Tequila, and a few other companies sponsoring different fight cards.

You add that PBC, as they've figured out how to better place their shows, has also started to draw strong crowd for their shows, at every level of show, and there are a lot of incoming revenues that folks are simply acting as if they're non-existent.

almost sad

[aldo5408]

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?

Yea that's initially what it stands for. Whose to say that part or that 130M wasn't a part of the new Fox deal