Kevin Hansert

Hoosier moved to Florida. Travel, Cubs, Drums, and fun are best!

[NWS Mobile @NWSMobile]

🙅‍♂️ Play in the pool, NOT floodwaters!
You never know what’s hidden or floating in the floodwaters - debris🛢, gators🐊, snakes🐍, and/or floating fire ants🐜

🦠🧫 Floodwaters can contain chemicals or objects that could harm you or make you sick. #FloodSafety

[FL Division of Emergency Management @FLSERT]

🌊 #DYK - Rip currents threaten Florida's beaches year-round. Keep your friends & family safe at the beach this summer by checking the forecast & paying attention to beach warning flags.

If you get caught in a rip current, don't panic! Follow the tips below⬇️

[Barstool Sports @barstoolsports]

Sad day in American history.

[WEAR ABC 3 @weartv]

ANOTHER ONE 🦈 Cristy Cox captured video Monday afternoon of a shark swimming in shallow waters amongst beachgoers at Navarre Beach. People hurried out of the water as the shark circled in the area.

Read more: https://t.co/e4fTiSimvG

[WEAR ABC 3 @weartv]

YIKES🦈😅 Thanks Jennifer Ward for capturing this video of a shark zipping through the shallow waters at Perdido Key Beach this afternoon! She says this happened around 2:15 p.m. and people were rushing to get out of the water. We don't blame them! 👀

[Pat McAfee @PatMcAfeeShow]

The Indianapolis Colts have cut Isaiah Rodgers and Rashod Berry..

Allegedly Isaiah Rodgers had a $1,000 bet on the over/under of rushing yards on a Colts RB

#PMSLive

[Jim Irsay @JimIrsay]

Waived DE Rashod Berry and CB Isaiah Rodgers Sr.

[Chicago Cubs @Cubs]

The #Cubs today made the following roster moves:

-Selected INF Jared Young from @IowaCubs
-Optioned INF Miles Mastrobuoni to Iowa
-Transferred LHP Brandon Hughes to the 60-day IL

[Joseph Neubauer @JNeubauerWx]

Not the only one staying cool today along Okaloosa Island 😳🦈

📸: Kevin Dukes

#flwx

[Joseph Neubauer @JNeubauerWx]

1 model solution on storms tonight - tomorrow AM. Lots of heavy storms near & after 12AM into Monday. Isolated damaging wind gusts & hail are severe threats to watch. Other model solutions bring storms later overnight and aren't quite as intense. Stay weather aware! #flwx #alwx

[WEAR ABC 3 @weartv]

WOW 👀 This wild video from Jayna Richardson Stikeleather shows high winds ripping limbs from trees as she drove through Destin, Florida during this morning's storms. This was around the same time the large funnel formed in the area.

https://t.co/B4bHAYOLWG

[Joe Pompliano @JoePompliano]

Los Angeles Country Club is one of the world's most exclusive golf clubs.

• $250,000 initiation fees
• No celebrities or social media posts

And they use a 45-year-old tax loophole to save $80 million annually.

Here's how it works:

LACC sits on 320 acres in the heart of LA.

It's one of the country's nicest (and strictest) country clubs.

They don't allow celebrities to join, and every new member is handed a 1,000+ page rulebook.

LACC Rules
• No shorts (tailored pants only)
• Sport coats in the clubhouse after 6 pm
• No changing shoes in the parking lot
• No headphones, earbuds, or athletic clothes
• No photos or videos of the club on social media

Members can also only make phone calls from their parked car or a phone booth in the locker room.

And the club is so exclusive that many of the world's best players are seeing it for the first time this week.

Rory McIlroy, for instance, hasn't paid for a round of golf in 20 years. But he had never played LACC before this week's US Open, so he says he prepared by watching videos of the course on YouTube.

Still, the craziest part about LACC isn't its $250,000 initiation fee or its 1,000+ page rulebook.

The craziest part about LACC is its real estate.

The 320-acre piece of land sits smack dab in the middle of Beverly Hills — between the famous roads of Sunset Blvd, Wilshire Blvd, and Santa Monica Blvd.

The land alone is reportedly worth $8 billion, making it the second most valuable piece of real estate (not developed for housing) behind Central Park in NYC.

But here's the craziest part...

An $8 billion assessed land value would typically mean hundreds of millions in property taxes alone.

But LACC only pays $220,000 in annual taxes.

This is because of two rules:

1. LACC is owned by its members and registered as a non-profit. So they benefited when California voters passed a ballot in 1960 that lowered the value at which officials were allowed to assess non-profit golf courses.

This non-profit rule also applies to other LA-based golf clubs, like Bel Air Country Club, Brentwood Country Club, and Wilshire Country Club.

2. Then, in 1978, voters passed Proposition 13. This new law rolled back the assessed land value to its 1975 level and more or less froze that value in time.

So even if the market value of the land tripled in value, the property's assessed value can only grow by 2% a year or the rate of inflation, whichever is lower.

And Proposition 13 also capped property taxes at 1% of assessed value (vs. the previous average of 2.67%).

So, in simple terms, Los Angeles Country Club would be paying about $80 million (1%) in annual property taxes because its land is worth $8 billion-plus.

But because of these two laws enacted more than 45 years ago, LACC’s land is currently assessed at just $22 million, and they only pay $220,000 in property taxes.

LACC Tax Breakdown (estimates)
• True value of the land: $8 billion
• Assessed value of the land: $22 million
• Annual property tax savings: $80 million

Now, Proposition 13 wasn’t put in place specifically for golf courses — its true purpose was to protect homeowners who are older, retired, and living on fixed income from payment shock when their property values dramatically increase over a short period of time.

But given the financial savings it has provided exclusive golf clubs over the years, it’s no wonder why Los Angeles Country Club wants to keep things exactly as they are.

Ps. If you enjoyed this breakdown, subscribe to my podcast (top 25 in US sports) so you don't miss any episodes going forward!

Apple: https://t.co/oxtjqN8JOE
Spotify: https://t.co/LbK4dFSzNQ

[Joe Pompliano @JoePompliano]

Elly De La Cruz is one of MLB's most exciting players.

But he might have to pay MILLIONS in career earnings to an investment firm — and he's not the only one.

Over 500 professional athletes have signed these deals, and Fernando Tatis Jr. owes them $27 million.

Here's how it works:

The company is called Big League Advantage (BLA).

It was founded in 2016 by former minor league baseball player Michael Schwimer, and their business model is simple:

BLA provides athletes with an upfront cash payment in exchange for a percentage of their future earnings.

The firm has 40 employees, and they use proprietary predictive analytics models to find inefficiencies in the market (aka when they believe someone is better than the rankings suggest).

And that's when they commit to an investment.

BLA raised $26 million for its first fund, which was then invested across 77 different players in 2016-17.

A typical deal might look like this:
• Athlete receives $350,000 in cash
• BLA is guaranteed 8% of future earnings

But it's not a loan — because if the player never makes it to the major leagues, they don't owe BLA any money.

And with 80% of their investments never making it to the major leagues, BLA solely focuses on landing the biggest fish (kind of like a venture capital firm),

For example, BLA signed a deal with Fernando Tatis Jr. in 2017. He reportedly agreed to pay back ~8% of his future earnings in exchange for "seven figures" in cash.

He then spent the money on a personal trainer, better food, and a better apartment.

But when he signed a $340 million deal with the San Diego Padres just four years later, BLA's ~8% cut meant that Tatis Jr owed them $27.2 million in earnings.

That one deal alone will pay back the entire fund, and the other 76 players BLA invested in are gravy on top.

And BLA says they have agreements in place with 7 players in last year's MLB all-star game alone.

This success has helped BLA raise nearly $250 million — and they have brought on some big investors, too.

Notable BLA Investors
• Paul DePodesta (Cleveland Browns)
• Bill Miller (Legg Mason)
• Steven Duncker (Goldman Sachs)
• Marvin Bush (Brother of George W. Bush)

But BLA's model doesn't just apply to baseball.

The firm is now expanding into other sports, like NIL deals with college football and basketball players.

For example, BLA signed a deal with Georgia outside linebacker Nolan Smith last year.

Smith received an upfront cash payment (via NIL) in exchange for one social media post per month, two player appearances, and two content shoots.

And based on his rookie deal alone (30th overall pick), Smith will end up paying BLA between $120,000 (1%) and $1.2 million (10%).

This has caused many people to speak up about BLA.

MLB super agent Scott Boras says BLA intentionally targets talented players from Latin America who don't receive large signing bonuses (**BLA's response is that they have signed 100+ American players that collectively have an average signing bonus of $400,000).

And MLB catcher Francisco Mejía even sued the firm in 2018, claiming they took advantage of his financial illiteracy, desperation (he wanted cash to fund medical treatment for his mom in the Dominican), and youth when he signed a deal at 20 years old that exchanged 10% of his future MLB earnings for $360,000 in cash.

Now, Mejía later dropped the case and issued an apology.

And BLA says these deals aren't predatory because they require independent lawyers to review each agreement, and 70-80% of the players they invest in never have to pay back any money.

But that doesn't mean changes can't be made.

One solution, of course, is to increase wages across the minor leagues so these deals aren't necessary, which MLB did last year by doubling wages and improving housing and transportation for players & families.

But with the average minor league player still making less than $30,000 annually, MLB still has a long way to go before income-sharing agreements disappear.

Still, it's important to remember that this problem doesn't just exist in baseball.

People have been investing in golfers (and Formula 1 drivers) for decades, and speculative investing in athletes has its deepest roots in boxing.

But that doesn’t mean a better solution doesn’t exist; we just have to find it.

Ps. I broke down the entire business model behind Big League Advantage on today's podcast. Subscribe below so you don't miss any episodes in the future!

Apple: https://t.co/mxDaF5A3a6
Spotify: https://t.co/gMTrfOPuT3

[Joseph Neubauer @JNeubauerWx]

More rain today starting around noon. Scattered t-storms will stick around into the evening hours this go around. Best chance for rain is across Alabama/Mississippi for today and Sunday. Looking ahead to Monday shows an even higher chance for rain here locally #flwx #alwx

[ABC News @ABC]

While this kind of theft has been around for years, retailers say it's reached unprecedented levels, sparking deadly violence at some stores. https://t.co/Ixwu4IaSO8

[Mike Chappell @mchappell51]

Colts open at home, zero primetime games

https://t.co/zhqC8gDdTG

[Indianapolis Colts @Colts]

Bon Appétit. 🤌

[NWS Mobile @NWSMobile]

A special weather statement has been issued for Navarre FL, Wright FL and East Milton FL until 6:45 AM CDT

[Allen Strum @WEARAllenStrum]

Check out this low pressure system set to move over the Gulf Coast. The WEAR-TV area has a high rain chance Wednesday night through Thursday and rotating storms will be possible as bands of showers move onshore.

[ABC News @ABC]

Drinking a glass of wine a day will not help you live longer, according to a new analysis of alcohol research that debunks a longstanding belief about the possible health benefits of drinking alcohol moderately. https://t.co/xjLgvnnlsh