Pbc getting sued! Fat dan on twitter

PBC has a cancer stuck to it!

 

They fired him OVER the PBC deal? Any proof of that?

Its not major money to them. If their profitability horizon is say...5 years, then whether its 1 billion or 1.5 billion isn't the issue.

A few hundred million a year for a few years is NOT going to put off a company who has over 120 billion on its books, if they see long term profitability, and ROI

 

Ya it seems this haymon character conspired with a employee we had to fire to swindle 1 billion out of our company and haymon has burned through that billion like there's no tomorrow and lined he's pockets, we are now being sued by our investors for this

The room goes quiet and looks worried, then the boss speaks confidently ' but don't worry folks il be giving haymon another billion, he don't leave the blackjack table until we break even, that's the motto around here'

 

It was a deal based on time buy on Cable TV.

Obviously there wasn't going to be massive revenue streams in the first couple of years, and I'm sure the investment managers involved would hve known that.

Unless someone here knows the initial business plan, everything else is just speculating

 

I suggest you read the articles the guy who made the deal was let go,everyone seems to think he was fired

The article also says that the majority of waddle and reeds investment funds comes from families moms and pops they said, who can be fickle and seeing waddle and reed sued for the mismanagement of funds and what looks to most like they got swindled out of money is going to severely effect confidence in the company.

 

The investment manager involved was fired and is now employed by haymon. The reason they are being sued is that the same guy put obc beside other solid investments like coca cola etc so he could secure more funds for pbc instead of in the highly risky category it should have been in where it wouldn't have recieved that much funding .

Many beleieved haymon must have had a guy on the inside to get that funding and guess what he did

 

Also the initial business plan was supposed to be very vague and didn't explain how or where money was going and how it would work. Again i think it said something about haymon being very secretive. He swindled waddle and reed out of that money and id day they will write it off soon

 

The PBC investment was about 0.5% of all funds managed.

Waddel and Reed could lose literally every last penny on the investment, and it wouldn't affect investor confidence.

Ill repeat, we don't know the original investment strategy. How long was it before they expected profits? How is revenue allocated?
Do Waddle and Reed get a slice of income generated from fights on Showtime(and HBO) involving Haymon fighters?
Did they get a slice of the money generated from Mayweather-Pac for example?

We're all sitting in the dark pretending to know about the financial situation of PBC and what the initial investment plan was for the enterprise.

Fact is, we have pretty much no idea.

 

How is stories coming out about corruption and mis management of funds not going to effect investor confidence ? Get real

 

Jesus the spelling on my phone is ****ing my off haha

 

According to the article, 2 similar cases were brought last year and dismissed.

And yes, even if there was the most outrageous, unconscionable mismanagement of funds in this case(I'm just saying hypothetically),
its still a less than 1% of funds managed. It will have literally no effect on investor confidence.

Just because we all care about this case because it involves boxing, doesn't mean actual investors are going to give 2 ****s about it.

If the other 99.4% of the assets managed are making acceptable returns, why would any investor care about what happened with 0.6% of the fund??

 

Besides the article makes it clear PBC is a "startup" which means short term losses are expected. When PBC starts to make money these investors are gonna be happy management had the foresight to invest in a high growth venture yielding the higher returns. The thing about stable companies like coke and Microsoft is, they've achieved so much market penetration, there's really no room for growth...so, they're stable but provide low returns. that's why companies like waddell will bundle high risk/high growth stock with more stable stock to hedge in favor of the potential for big earnings.

the only concern is the anti-trust suits against haymon....

do you know whos' behind that? is it arum or gbp or one of them?

if you ask me, boxing is better off as a monopoly. the nfl and nba are monopolies...so is the nhl and mlb and mls....those are are all incredibly profitable ventures. haymon would have all the stars fighting each other just like all the best teams play each other in the playoffs...that's what boxing needs.

if haymon succeeds, boxing will be a major sport again instead of the dying niche sport it was before he came along.

 

All the financial advisors in this thread! :rofl

 

atsch

 

rooting for pbc to fail, huh?