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

[PKing]

Idk the details of what Spike, NBC, Fox, Bounce & anyone I'm forgetting is paying via this hybrid time buy deal with PBC, but yea as I already said I believe all the networks PBC is on is putting forth some amount of money to help air those shows. That is not a standard TV deal is the problem with what you are saying. A standard TV deal is the UFC/Fox deal or deals other sports have with networks. This isn't that type of deal.

Haymon also bought time on Fox, CBS, ESPN and cable network Bounce TV. Fox's first Premier telecast was Jan. 23 at Staples Center, headlined by Danny Garcia's unanimous-decision victory over Guerrero to claim the World Boxing Council welterweight title. Showtime and Spike TV also telecast Premier boxing shows, but those are more conventional financial arrangements with the TV outlets paying Haymon licensing fees. - Lance Pugmire (LA Times)

[!! Shawn]

Stopped right about here.

They all want to see Haymon fall. But will he?

Doubt it.

He will fall with his pockets full of gold.

[DinoCop]

Plot twist: waddel and reed are secretly funding isis, haymon found out and created pbc to sabotage their money

God bless al haymon

And you guys should thank Don King for robbing both them ******s Muhammad Ali and Mike Tyson. He actually prevented their jihad plans in the hw division. Nyuc Nyuck only in amer..

[bigdunny1]

Uh oh, PBC getting hit on the other side now.

A NY investment fraud Atty compiling claims against Waddell & Reed told me the @premierboxing losses are part of potential class action suit

— Lance Pugmire (@latimespugmire) February 5, 2016

The NY Atty told me these are "mom and pop individual investors, not institutions, damaged by investments," to @premierboxing

— Lance Pugmire (@latimespugmire) February 5, 2016

Little old people be happy to know their 401k's were investing into Jermall Charlo's strip club spree.

Wow so first reports that PBC losses in the hundred millions, then reports the investors running out of money, and now a lawsuit claiming fraud. This looked like a money scheme from day one with a business model that never made any practical sense. I feel bad for anyone who's money was tied into this nonsense.

[AddiX]

Haymon also bought time on Fox, CBS, ESPN and cable network Bounce TV. Fox's first Premier telecast was Jan. 23 at Staples Center, headlined by Danny Garcia's unanimous-decision victory over Guerrero to claim the World Boxing Council welterweight title. Showtime and Spike TV also telecast Premier boxing shows, but those are more conventional financial arrangements with the TV outlets paying Haymon licensing fees. - Lance Pugmire (LA Times)

Showtime pays full price, spike we have no clue though.

It's doubtful they'd pay the going rate though considering no one else but Showtime is.

[PKing]

Wow so first reports that PBC losses in the hundred millions, then reports the investors running out of money, and now a lawsuit claiming fraud. This looked like a money scheme from day one with a business model that never made any practical sense. I feel bad for anyone who's money was tied into this nonsense.

Haymon also bought time on Fox, CBS, ESPN and cable network Bounce TV. Fox's first Premier telecast was Jan. 23 at Staples Center, headlined by Danny Garcia's unanimous-decision victory over Guerrero to claim the World Boxing Council welterweight title. Showtime and Spike TV also telecast Premier boxing shows, but those are more conventional financial arrangements with the TV outlets paying Haymon licensing fees. - Lance Pugmire (LA Times)

[AddiX]

Wow so first reports that PBC losses in the hundred millions, then reports the investors running out of money, and now a lawsuit claiming fraud. This looked like a money scheme from day one with a business model that never made any practical sense. I feel bad for anyone who's money was tied into this nonsense.

Worst part is PBC accomplished nothing spending all that money.

There isn't one thing they can look at and say, "at least we accomplished this."

Nothing, a complete failure. This plan never made sense from the beginning.

These investors got scammed.

[PKing]

Showtime pays full price, spike we have no clue though.

It's doubtful they'd pay the going rate though considering no one else but Showtime is.

Spike TV paid Premier up to seven figures in licensing fees for each of the two cards, which featured main-event victories by welterweights Andre Berto in March and Amir Khan in May. - Lance Pugmire (LA Times)

[PKing]

Worst part is PBC accomplished nothing spending all that money.

There isn't one thing they can look at and say, "at least we accomplished this."

Nothing, a complete failure. This plan never made sense from the beginning.

These investors got scammed.

2018 will tell the truth.

Not February of 2016. LOL

[saintpat]

Hello. I am "that kid." I'm also a lawyer who works in the financial industry. It takes about 5 minutes to look up this information and another 5 to write the Reddit post, so I don't actually spend much time on it. I've spent way more time analyzing the court filings in Haymon's various lawsuits and 50 Cent's bankruptcy proceedings. I do it because I'm a huge boxing fan and feel like I can add value to the Reddit boxing community by contributing my legal and financial knowledge when it intersects with my favorite sport. It's nerdy, but I am a nerd.

Anyway, you can look up this information yourself. I would post links to my sources, but apparently I am not allowed to do that until I have made 15 posts on this forum. Links to my sources are included in my most recent Reddit post via the citation to my post about the Q3 results. Perhaps someone else can copy and paste them here. The first three links will take you to the current portfolio holdings of the Ivy Asset Strategy Fund, Ivy VIP Asset Strategy Fund, and WRA Asset Strategy Fund. Waddell's Haymon investment vehicle is Media Group Holdings, Series H, as revealed by Sports Business Journal and later confirmed by Haymon's lawyers in court filings. The last two links will take you to the most recent prospectuses for the Ivy Funds and WRA Funds, which disclose the acquisition values of Media Group Holdings, Series H for each fund. Then you just do the math.

A couple of questions (I have some understanding of stocks and such but not nearly on the level of someone in your profession); and please don't take this as an attack, I'm just trying to better understand:

1) Is any value attached to the hours and hours of network and cable TV time (some of it network primetime) that PBC has purchased? I would think that has some real value -- is that reflected in the $82M, or is there any way to know?

2) Same for fighter contracts -- is there any value reflected in the top-tier boxers that are tied to PBC? (I'm not sure how this could be measured as there's no guaranteed income, unlike a sports agent who has a contract with, say, a Major League Baseball player who has a guarnteed contract with the agent getting a specified percentage.)

3) Bigger picture, if you could give it to me in layman's terms: If, say, you are the investment house and you give me $100M for my venture (boxing promotion, whatever) as part of your portfolio ... And let's say I spent $50M of it, so there's $50M in real cash left -- can that be devalued so the $50M I have left in the bank be valued as worth less than $50M?

(What I mean is, if Haymon/PBC haven't spent all but $82M, if there's like a couple hundred million still in the bank, shouldn't the value reflect cash assets that are in the bank? Or does that somehow work differently?)

4) Understanding the business, are there circumstances or occasions where an investment house would, in its reporting, undervalue an investment on its books for tax purposes or some other reason? Is it possible that this reporting doesn't reflect reality for some reason?

I look forward to your answers.