1996-07-10, By Charlotte-Anne Lucas and Glenn Rogers Express-News Staff Writers
马洛夫家族的收购提议:马科德莫特称其为“NBA历史上最大规模的现金收购”
圣安东尼奥马刺队主席罗伯特-马科德莫特(Robert McDermott)周二透露了球队出售给一个富有的新墨西哥家族的交易细节,该交易总额为1.2亿美元,将在几年内支付完毕。在潜在买家乔-马洛夫(Joe Maloof)和加文-马洛夫(Gavin Maloof)的陪同下,马科德莫特表示,他们二人计划以9000万美元的现金收购球队,并在未来支付剩余的3000万美元。
马刺队的现任老板在1993年以8500万美元的价格买下了这支球队。
马科德莫特称这笔交易是“NBA历史上最大规模的现金收购”,并表示这“似乎是让马刺队在财务上保持活力的最佳方式”。
然而,这笔交易取决于圣安东尼奥市是否放弃或减少从马刺队在阿拉莫圆顶体育馆获得的资金,而市政府一直对此持抵触态度。
此外,这笔交易还需要市政府或县政府在提供新的体育馆的免费土地和基础设施方面进行合作。
市长比尔-索恩顿(Bill Thornton)表示,他本人和他所在的团队都没有接到关于这笔交易的任何联络,对于在周二的《圣安东尼奥快报》上看到这则消息感到愤怒。
他问道:“他们在要求城市成为交易方之一,但从不邀请我们参与谈判的情况下,他们是如何想要完成这笔交易的?”
马科德莫特补充说,马洛夫的提议“将为目前的投资者带来完全意想不到的财务收益,让他们能够收回投资并获得可观的利润”。
该提议包括马洛夫家族支付5300万美元的现金,偿还球队700万美元的未偿债务,并承担球队3000万美元的债务。
在支付完9000万美元后,马洛夫家族将在未来某个日期再支付3000万美元。
马刺队在本赛季首次出现亏损,尽管球队官员没有公布具体金额。
此外,官方还预计球队将在下个赛季继续亏损。
马刺队老板将于今天上午听取这笔交易的详细信息,考虑到球队的新任老板彼得-霍尔特(Peter Holt)在周一表示“他并非为了出售球队而购买它”,此次会议可能会变得针锋相对。
马科德莫特、马洛夫兄弟和两名被雇用来推广这笔交易的公关代表周二来到《快报》解释这笔交易。
在近一个小时的会议中,马科德莫特和马洛夫兄弟描述了这笔交易。
其他所有者都没有出席,据报道他们正在私下讨论这笔交易。
在与《快报》的记者和编辑进行的会面,以及在阿拉莫圆顶体育馆举行的新闻发布会之前,马科德莫特将矛头指向了霍尔特。
“他三年前在哪里?”他问道,指的是1993年,当时马科德莫特组织了一群22名投资者买下了球队,并将球队留在圣安东尼奥。
霍尔特周二拒绝回应马科德莫特的言论。
他说:“我对此没有回应。我将参加会议…在那里讨论这类事情。我不知道会议会进行得如何。”
球队老板表示,投资者对于如何应对这笔收购提议存在分歧。
球队内部的关键消息人士表示,马科德莫特预计一些老板会试图将他从主席职位上赶下台。
其他人则表示,马洛夫的提议正在获得支持,即使是在过去经常对马科德莫特的领导能力感到失望的老板中也是如此。
马科德莫特周二表示,他得到了球队最大股东盖洛德地产公司的支持,该公司持有马刺队18.41%的股份。
盖洛德地产公司的代表拒绝发表评论。
霍尔特是第二大股东,持有13.37%的股份,他反对马洛夫的收购提议。霍尔特表示,他希望增加自己在球队中的股份。
周二,其他投资者中只有很少一部分同意讨论此事。
但马洛夫兄弟周二表示,只要任何交易都能让他们获得控股权,他们愿意接受低于100%的球队所有权。
马洛夫的收购提议还包括一个建设新体育馆的条款,马科德莫特表示,这个体育馆的建造只需要很少的公共资金。
他表示,收购协议将让马洛夫家族在未来某个时间支付给现任老板3000万美元,届时球队将在新体育馆打完整个赛季,或者他们决定将球队搬走。
在此期间,马洛夫家族将要求该市给予他们阿拉莫圆顶体育馆的更多,如果不是全部的话,那么至少要给予他们所有特许经营收入。
马刺队在上个赛季将320万美元的特许经营收入支付给了该市。
马科德莫特表示,该计划将激励现任老板帮助球队获得新的体育馆,因为他们只有在新体育馆建成后才能获得这3000万美元。
马科德莫特表示,对于现任投资者来说,问题是马洛夫家族会要求他们将这笔钱再投资到体育馆。
他说:“投资者可以将他们的利润滚动到一个用于为体育馆融资的基金中。”
马科德莫特承认,一些投资者——包括来自俄克拉荷马城的盖洛德地产公司和来自费城的ARA RBI公司——不太可能放弃这笔钱。
他说:“现实地说,我不希望那些不是来自圣安东尼奥的老板把他们的钱投资到这里。”
然而,他表示,如果这意味着球队将留在圣安东尼奥,当地投资者可能会被激励进行再投资。
但如果新的体育馆没有建成,老板仍然可以获得额外的3000万美元,这要归功于马科德莫特所说的“自我强加的”搬迁罚款。
如果球队无法获得新的比赛场馆,并且继续亏损,马洛夫家族将向出售球队给他们的投资者支付3000万美元。
马洛夫兄弟家族的财富来自新墨西哥州的啤酒经销商,以及银行、卡车运输和赌场等方面的投资。他们承诺,如果交易获得批准,他们将搬到圣安东尼奥。
马科德莫特于7月1日首次向球队最大股东提出了马洛夫的收购提议。
当时,所有权集团的消息人士表示,霍尔特试图扼杀这项提议。
所有权集团决定继续讨论此事,直到今天上午的会议,届时所有权成员将直接听取马洛夫家族的意见。
所有权成员表示,这3000万美元的搬迁罚款不在马洛夫家族的最初提议中。
当被问及他们家族是否有足够的财力完成这笔收购时,加文-马洛夫表示,他和他的兄弟最近“与(NBA总裁)大卫-斯特恩(David Stern)进行了会谈,他对我们的财务状况和家族感到满意。”
该家族曾经拥有休斯顿火箭队。
马洛夫说:“他希望我们回到NBA。”
马科德莫特表示,马洛夫家族希望吸引额外的投资者帮助建造一个新的体育馆,该体育馆“至少…将是一个公私合作项目”,在最好的情况下,将完全由私人融资。
他表示,他们二人建议圣安东尼奥市或贝克萨尔县为新的体育馆捐赠土地、基础设施和停车场。
马科德莫特表示,最好将新的体育馆建在东休斯顿街的弗里曼体育馆附近,靠近35号州际公路。
马科德莫特表示,他也会鼓励现任老板同意在交易初期获得更少的利润。
马科德莫特说:“有了新的体育馆,球队将在圣安东尼奥非常有竞争力。”
球队的21个个人和公司所有者表示,他们不会长期补贴球队的亏损。
马科德莫特和其他老板都同意,球队需要一个拥有利润丰厚的豪华包厢和其他设施的新体育馆,以保持其财务状况良好。
这是第一个不依赖纳税人资金的体育馆详细提案。
现任球队所有者是谁?
盖洛德地产公司*、彼得-M-霍尔特、ARA RBI公司*、扎克里酒店*、动能概念公司和詹姆斯-R-莱宁格*、SBC通信公司*、瓦莱罗管理公司、国际银行股份公司、斯蒂芬-朗、欧文-A-马修斯夫人、杰克-迪勒*、R&B合伙公司(罗素和布鲁斯-希尔)、雷蒙德-巴什克、保罗-R-马基、费利克斯-L-斯泰林、乔治-C-“蒂姆”·希克森*、清晰频道传播公司、罗伯特-F-马科德莫特*、西南商业公司、理查德-坎图信托基金、劳尔-S-坎图二世信托基金。
* 通用合伙人圣安东尼奥运动俱乐部公司的成员,该公司额外拥有1%的股份。
(请参见第6A页的图表,了解所有权比例。)
点击查看原文:Spurs owners weigh Maloof offer - McDermott: It's `largest cash offer' in NBA history
Spurs owners weigh Maloof offer - McDermott: It’s `largest cash offer’ in NBA history
San Antonio Spurs Chairman Robert McDermott revealed new details Tuesday of a deal that would mean selling the team to a wealthy New Mexico family for a total of $120 million, to be paid over a period of years. Flanked by would-be buyers Joe and Gavin Maloof, McDermott said the two propose to pay current owners $90 million now and $30 million later for the NBA franchise.
The Spurs owners paid $85 million for the team when they bought it in 1993.
McDermott called the package “the largest cash offer in the history of the NBA,” and said the offer “appears to be the best way to make the Spurs financially viable.”
The deal, however, hinges on the city of San Antonio either giving up or reducing the amount of money it receives from the Spurs at the Alamodome - something city officials have resisted.
In addition, it likely would require the cooperation of the city or county in granting free land and infrastructure for a new arena.
Mayor Bill Thornton said neither he nor his staff had been contacted about the proposal, and was angry to learn about the deal in Tuesday’s San Antonio Express-News.
“How do they want to accomplish that sale when they ask the city to be one of the parties but never invite us to dance?” he asked.
McDermott added the Maloof proposal “would provide a totally unexpected financial windfall for the current investors, allowing them to get back their investment plus a sizable profit.”
The proposal would have the Maloofs pay the owners $53 million in cash, pay off $7 million of the team’s outstanding bills and assume $30 million of the franchise’s debt.
After the $90 million, the Maloofs would pay another $30 million at a future date.
For the first time in its history, the franchise lost money last season, although team officials would not release the amount.
Also, official project additional losses next season.
Spurs owners are to hear details of the offer this morning at what promises to be a contentious meeting, given statements by the team’s newest owner, Peter Holt, who said Monday that he “didn’t buy into the team to sell it.”
McDermott, the Maloof brothers and two public relations representatives hired to promote the deal came to the Express-News Tuesday to explain the proposal.
In a nearly hourlong meeting, McDermott and the Maloof brothers described the proposal.
Conspicuous by their absence were any other owners, who reportedly were discussing the deal among themselves.
During the meeting with Express-News reporters and editors before a news conference at the Alamodome, McDermott took aim at Holt.
“Where was he three years ago?” he said, referring to 1993, when McDermott organized a group of 22 investors to buy and keep the team in San Antonio.
Holt declined to respond to McDermott’s comments Tuesday.
“I have no reply to that,” he said. “I’ll just go to the meeting. . . . where these type of things should be discussed. I have no idea on how the meeting will go.”
Team owners say investors are divided on how to respond to the offer.
Key sources on the team said McDermott expects some of the owners to try to unseat him from the chairmanship.
Others say the Maloof proposal is gathering support, even from owners who often have been exasperated with McDermott’s leadership in the past.
McDermott said Tuesday he had the support of the team’s biggest stakeholder, Gaylord Properties, which owns 18.41 percent of the Spurs.
Gaylord’s representative declined comment.
Holt, the second-largest owner, with 13.37 percent, opposes the Maloof offer. Holt says he wants to increase his stake in the team.
Few of the other investors agreed to discuss the situation Tuesday.
But the Maloof brothers said Tuesday they would accept less than 100 percent ownership of the team, as long as any deal gave them controlling interest.
The Maloofs’ offer also includes a provision for a new arena that McDermott said could be built with only a minimal amount of public money.
He said the buyout offer would have the Maloofs paying the current owners $30 million some time in the future - after the team has played a full season in a new arena or if they decide to move the team.
In the interim, the Maloofs would ask the city to give them more if not all of the concession receipts at the Alamodome.
The Spurs gave the city $3.2 million in concession receipts last season.
McDermott said the plan would give current owners an incentive to help the team get a new arena because they would not get the $30 million until the building became a reality.
The catch for the current investors, McDermott said, is that the Maloofs would ask them to turn around and invest that money back into the arena.
“Investors could roll over their profits into a fund for financing the arena,” he said.
McDermott acknowledged that some investors - including Gaylord Properties of Oklahoma City and ARA RBI Inc. of Philadelphia - wouldn’t be likely to give up the money.
“Realistically,” he said, “I do not expect the owners who are not from San Antonio to invest their money here.”
However, local investors, he said, might be motivated to reinvest if it meant the team would stay in San Antonio.
But if a new arena doesn’t materialize, the owners still could get an additional $30 million, thanks to what McDermott called a “self-imposed” moving penalty.
If the team cannot get a new venue and continues to lose money, the Maloofs would pay $30 million to the investors who sold them the team.
The Maloof brothers, whose family earned its wealth from a New Mexico beer distributorship and interests in a bank, trucking and casinos, pledged to move to San Antonio if the deal is approved.
McDermott first presented the Maloof proposal to the team’s largest stakeholders July 1.
At that time, sources in the ownership group said, Holt tried to kill the proposal.
The ownership group decided instead to continue the discussion to this morning’s meeting, where its members will hear directly from the Maloofs.
The $30 million moving penalty was not in the family’s original proposal, owners said.
Asked about his family’s financial wherewithal to pull off the purchase, Gavin Maloof said he and his brother recently “sat down with (NBA Commissioner) David Stern and he is comfortable with our finances and family.”
The family once owned the Houston Rockets.
“He wants us back in the NBA,” Maloof said of Stern.
McDermott said the Maloofs hope to bring in additional investors to help build a new arena that “at a minimum . . . be a private/public partnership,” and at best, be completely privately financed.
He said the pair propose that the city of San Antonio or Bexar County donate the land, infrastructure and parking facilities for a new arena.
McDermott said it would be best to locate a new arena near the Freeman Coliseum on East Houston Street near Interstate 35.
McDermott said he also would encourage current owners to agree to take less profit out of the deal at the outset.
“With a new arena, the team would be very viable in San Antonio,” McDermott said.
The team’s 21 individual and corporate owners have said they will not subsidize the franchise’s losses for an extended period.
McDermott and other owners agree that the team needs a new arena with lucrative luxury suites and other amenities to keep its finances in the black.
This is the first detailed proposal for an arena that does not require taxpayer financing. - - -
Who owns the team now?
Gaylord Properties*, Peter M. Holt, ARA RBI Inc.*, Zachry Hospitality*, Kinetic Concepts Inc. and James R. Leininger*, SBC Communications Inc.*, Valero Management Co., International Bancshares Corp., Stephen Lang, Mrs. Irving A. Mathews, Jack Diller*, R&B Partnership (Russell and Bruce Hill), Raymond Barshick, Paul R. Markey, Felix L. Stehling, George C. `Tim’ Hixon*, Clear Channel Communications, Robert F. McDermott*, Southwest Business Corp., Richard Cantu Trust, Raul S. Cantu Jr. Trust.
* Members of the general partner, the San Antonio Athletic Club Inc., which owns an additional 1 percent.
(See chart on page 6A for percentage of ownership.)
By Charlotte-Anne Lucas and Glenn Rogers Express-News Staff Writers, via San Antonio Express-News