“Money” Floyd Mayweather lives up to his nickname — he was money in the ring and earned a lot of it as the greatest boxer of a generation.
Now the legend is willing to spend it to own an NBA team.
Mayweather said at a recent public event he was working to buy an NBA team and has made a $2 billion offer for one.
“I’ve been working on buying a NBA team outright. One of my other business partners, Brent Johnson, he’s here. So we’ve been working on the NBA team for a while now. It’s kinda, it’s rough…
“It could be the Vegas franchise. It could be the Seattle franchise or I could be buying a franchise that’s already up and running. So the first offer, we offered them a little over $2 billion for majority ownership. Do I have it? Absolutely, I have it, but it didn’t happen overnight. It didn’t happen overnight. It’s a lot when you have so many different businesses all around the world. It’s a lot.”
The only NBA team publicly known to be for sale is the Phoenix Suns and the sale price for that will be well above $2 billion (some estimates suggest double that number). Portland is not currently for sale but is expected to be available in the coming years, and other franchises may pop up on the market as well, but the price for any of those may be above $2 billion. As for potential expansion teams (which are likely headed to Seattle and Las Vegas), those are years away according to league sources, with the vote to approve them a few years out at least, followed by a couple of years of ramp-up. Also, the entry price to get into those is going to be well above $2 billion.
Mayweather says he has the money. He said a year ago his net worth was above $1.2 billion, but there is no formal tracking for these things, it could be higher or lower. Either way, with the price of NBA franchises today, he likely needs to bring in other investors as $2 billion will be on the low end of a sale price.
How the controversies of Mayweather’s past — including domestic violence and homophobic comments — play out in his ownership bid is another unknown. We know the NBA vets its owners and considers such things.
It may be a long shot, but Mayweather wants to buy an NBA team, which could be very entertaining for fans.
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Floyd Mayweather says he’s trying to buy NBA team, has offered $2 billion originally appeared on NBCSports.com