“The business formula is not new – buy low and sell high. We are just not used to hearing about the NBA being the business using it. The NBA bought the struggling New Orleans Hornets in December 2010 for $318 million. Last month, the NBA has agreed with New Orleans Saints’ owner Tom Benson to transfer ownership for $338 million. How would you like to make $20 million in less than two years?”
Read Roger Groves’s latest piece at SportsMoney.