Everyone laughed when Steve Ballmer paid $2 billion for the Clippers. Then the… · @ianxintx · TwKit

@ianxintx

Everyone laughed when Steve Ballmer paid $2 billion for the Clippers.
Then they laughed again when he spent another $2 billion on his own arena. Here’s why that was the smartest move on the board: 1. He stopped being a renter. The Clippers used to pay rent to someone else’s building. Now he owns the building. 2. Revenue went from about $350M to about $600M a year. Concerts, games, sponsors, all of it runs through his arena. 3. Owning big assets gives you depreciation. On paper that can wipe out a lot of the cash taxes. Short-term traders watch the price.
Owners watch control, cash flow, and taxes. Own the asset. Let time do the rest. Renter or owner: which one are you right now?

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