Mark Walter has to take roughly $20 billion of loans off his insurers by December 31.
There are 4 ways to do that.
1. Sell the loans: nobody buys paper that is under a grand jury subpoena.
2. Grow the balance sheet: the company would have to be 4 times bigger in 2 quarters.
3. Reinsure a block: that hands over the good assets and leaves the loans, so the ratio goes UP.
4. Sell things and repay in cash.
The Lakers covered about a third.
THE LAKERS COVERED A THIRD OF WHAT HE NEEDS. MARK WALTER STILL HAS TO UNLOAD THE DODGERS. https://t.co/Qy8aYjj5EZ
For you guys not following this situation
The Dodgers negotiated an unfair TV contract deal, then their owner got his insurance and annuity companies to give loans to him so he could afford massive spending.
He did things like buy Chelsea, the Lakers and spend massively on the Dodgers by doing illegal loans and arms length transactions that aren’t allowed with insurance rules
He has to sell EVERYTHING he can to cover the loans or he could face criminal prosecution. There will be a liquidation, selling the Lakers and his stake in Chelsea will not be enough
The Dodgers “dynasty” is built on financial cheating, enabled by a 1 of 1 TV Deal they got through a loophole in the McCourt Bankruptcy and improper transactions with life insurance and annuity companies Guggenheim owns
We do not need a salary cap
Mark walter WILL have to sell the Dodgers and once the TV rights situation is fixed they will never be able to spend like this again
The Dodgers rings mean even less than the Astros
We did a beef giveaway a few weeks ago and figured we'd do it again!
One of our favorite parts of this business is getting premium Texas beef into the hands of people who may have never had the chance to try it before.
So we're GIVING AWAY a box with:
🥩 2 Boneless Ribeyes
🥩 2 NY Strips
🥩 2 Filets
🥩 2 Top Sirloins
🥩 5 lbs Ground Beef
To enter:
• Follow ElkinsCattleCo
• Repost this post
• Tag/comment who you'd fire up the grill with if you won
We'll draw a winner Monday.
⚠️ The winner will ONLY be contacted by this account. We will never ask for payment information.
Appreciate y'all being here and supporting our family’s passion.
@annieheilbrunn Annie this is an amazing interview! I now love Nick even more. He is, as you say unapologetic about who he is and I personally love that!!! Well done 🌟 ⚾️
🚨🥇 My Day 0 Olympics viewing guide!
We are BACK! I’ll make these for the next 17 days.
Last time around people found them really helpful. The Winter Olympics schedule is more manageable than Summer, but if you like them please help share.
@MattSkraby the equestrian events were to beheld in Temecula at Galway Downs; however, the IOC took them away from Galway and moved to Santa Anita Race Track.