I think the bigger question has to be: what is Jay's plan for the Union? What is his endgame in all this? It can't have been to build a competitive soccer team, that's for sure. So what is he after? Money?
He's in a pretty good shape to make some money. Nice speculation on his part. He paid $30 million for a franchise fee now worth $100 million. He also bamboozled PA and DelCo into using taxpayers money into building a stadium in a wasteland. Not too shabby for 6 year investment. He just needs to get out now while he still has a respectable fanbase for new investors.
I wish they didn't lie. (Naive I know). If they were honest and made it clear that it was to make money then boom. I would be whatever and still go. Im annoyed that they say they are trying and either A. lying B. Suck at fielding a team. C. Both.
You mean actually investing their souls into the club, beyond the monetary gain? Come on now. That never happens in soccer.
Maybe Sugarman is keeping the team to spite Nick Sak for selling him on owning an MLS team in Chester, PA instead of buying into the Phoenix Suns? Sugarman holds all of the leverage at this point. He knows he could sell now and make a nice profit on his investment. He could make even more down the road as the league's value increases without him having to invest a whole lot himself as well. In 2008 he paid what, $30 Million for the Franchise? In 2013 Orlando City paid around $80 Million and NYCFC paid $100 Million. The MLS Sugarman bought into (was sold on) in 2008, unfortunately is not the MLS that his team plays in in 2015. In 2008 how many teams had their own practice facility? How many had their own academy? In 2008 BBVA, Sporting Park, RBA, PPL, Stade Saputo (in it's current form), & Providence Park were either just pretty artists renditions or not even on the drawing board. Orlando didn't even have a USL team, hell their owner hadn't even formed the Austin Aztex yet! If Philadelphia had been granted an expansion side in say 2012, it's likely safe to say that Sugarman wouldn't be involved as a majority owner. Today's MLS in addition to a Soccer Specific Stadium requires training facilities, academies, a USL reserve team, and a PDL team for college aged academy players. That wasn't part of the deal back in 2008.
And maybe Sak is staying on to spite Uncle Sugar instead of taking that exec role with the LA Dodgers (?). I know what you mean, but have to clarify that there has to be a plan in place for a future SSS. And teams still have partnerships with USL teams; not all are fielding one as a reserve squad.
Wait what? Nick Sak was offered a role with the Dodgers? True about the USL teams, but the affiliates are mainly a way to bridge the gap for the have nots (see Union) and expansion teams to get off the ground. Moving forward to compete, having a USL team and also a PDL team for your academy players is going to be a necessity.
I thought that's what he said in the SoB movie. Was definitely a west coast baseball thing. And, FWIW, Sugarman was at the USOC game last week, and I saw him entering the players' locker after the game. Maybe he cashed out on stocks to go "all in" with the USOC hosting fees (assuming we get past DCU and the Cosmos/RBNY winner).
Well that would make sense then if it was the Dodgers. That was when MLB allowed Frank McCourt to buy the Dodgers with essentially a Credit Card..................the irony! Nick Sak knows a thing or two about that!
I don't believe the Nick Sak Dodgers story for a second, and it actually kind of pissed me off in the theater, lol.
For whatever it's worth, iStar stock only moderately rebounded from 2008. I was digging around Google Finance and happened to stumble across an interesting blurb: iStar Financial Inc ($STAR) experienced unusually high volume on Jun. 18, as the stock lost 0.07% to a closing price of $13.98. The stock saw 1.22 million shares trade hands over the course of the day on 6,756 trades. Given that the stock’s average daily volume over the last month has been 693,628 shares a day, this represents a pretty substantial spike over the norm. - See more at: http://www.equities.com/editors-des...usual-volume-for-june-18#sthash.AZ8Ul5fP.dpuf http://www.equities.com/editors-des...s-trading-lower-on-unusual-volume-for-june-18
I did a Google image search for this picture. I guess he own this hilarious website, too? Or maybe its a different Jay Sugarman. Either way...that website is straight out of 1997.
I'm sure Sak is relieved the ire seems to be turning away from him and towards Sugarman. Unfortunately for him the Philadelphia region has enough hate for both.
Anyone see the survey they just put out? It's interesting timing and "direction of the team" seems to be a big focus.
From Sugarman's perspective, he has to be pleased. The club is chugging along despite the abysmal on-field performance and he's in a position to eventually cash out at a level much higher than the one he bought into. All of us schmucks on this board show up for the games every week, buy the merch, and watch the away games on TV while he counts the bucks. Let's just hope the cashing out happens sooner rather than later.
I dunno, I got the sense that owning a sports team might have been as much of a prestige thing as a business venture for Sugarman. Ownership of major sports team is a pretty exclusive club, which Sugs appears to be crashing and burning out of just as MLS is hitting its stride. Has to be embarrassing for him.