Chelsea FC for sale: Don't be fooled by Abramovich's generosity; Mike Trout, players speak out against MLB (Episode 547)

Nothing Personal with David Samson

David Samson

Sports, Baseball, Business

4.7 • 3.1K Ratings

🗓️ 3 March 2022

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s word of the day is ‘net proceeds’ as in Roman Abramovich is selling Chelsea as in he said he would be donating the proceeds from the sale to the people of Ukraine. What exactly does this mean? How much money is he going to get in the sale? Who is willing to buy the club? This is a fascinating case. (17:20) So You Wanna Talk To Samson!? Someone asked me if it’s normal that all these players in MLB are talking, but no owner is. Mike Trout spoke out. Lance McCullers spoke out. Marcus Stroman spoke out. And many more. (37:55) Review: Cruella. (39:55) Yesterday we spoke on Kyler Murray’s agent releasing a statement about wanting a new deal. The next… Kliff Kingsbury got a new deal… he and Murray share an agent! (43:50) NPPOD - The Knicks are terrible. The Sixers are winning. Kevin Durant is officially back. (44:55) Dolphins GM Chris Grier met the media yesterday in Indy and spoke on the quarterback situation. He said they are done with Deshaun Watson. He had some interesting comments on Tua. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:38.1	Net Proceeds. Nothing personal word of the day. It is March 3rd, 2022.
0:56.0	We've talked a lot about franchise economics. We've talked a lot about what teams are worth.
1:01.2	Is it really when you get 1.2 billion that you get 1.2 billion gross?
1:06.3	Oh, that's such gross. Net. Net is actually what's in your pocket at the end after you've paid
1:15.6	everybody off all of your debts, all of your taxes, what you're like debts, all of your employees
1:21.7	who are owed money, all of your players. Anything. Net is the actual amount of money that you have
1:30.4	after selling something for you to buy something else with. For getting a 1031 like kind exchange
1:36.2	which is one of the crazy provisions in the IRS code which says you can sell something and buy
1:41.6	something that's just like it and then not have to pay any capital gains tax or any gain at all.
1:47.7	But let's not talk about 1031s. Let's talk about Net Proceeds. Why? Because the Chelsea football club
1:55.3	is for sale. This is not a small story. There's a lot of nuance here that we have to talk about.
2:01.2	Chelsea football club, obviously EPL. They won the Champions League last year. We're talking about
2:07.8	a very successful franchise, a very valuable franchise. The Denver Broncos are for sale here in the
2:13.8	US and the NFL and everyone's jumping all over each other. Who's going to buy it will be the Manning
	...

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