Super League Predictions

toraider · 2022-02-16T17:35:31+00:00

So, aside from BDC, who's going to the Saudi League? A lot of chatter on this subject recently...

Eguller

Stu1961 they profit by $1.4 billion annually, while paying their executives over $40 million

Interesting. So, some of the 'employees' make a lot more than the leadership ? Not the case in most businesses.

Sneakylong

Stu1961

I have no interest in their non profit status. Zippo. It’s a red herring issue. But for people who have a bug up their ass about it, it’s important to them. 😏Bottom line is they cannot compete money wise with the Saudi’s keeping their current model. Saudi’s have a $600 billion dollar fund to tap into.

Take away their ‘golden goose’ tax situation and they still can’t compete money wise. Red herring. Take the $40 million they pay themselves and they still can’t compete money wise. All irrelevant.

The issue is whether they change their model to a guaranteed money model to TRY and compete money wise. And to what degree. And IF they do they’ll most likely have to stop being a non profit. That’s all. Nothing more to read into it.

It’s all speculation at this point anyway. They may decide not to do anything and keep their current model. No one has a clear crystal ball regarding this.

Do they change now and try and get ahead of whatever may be coming? Or wait and see if LIV takes off and react then.

For those hung up on the non profit status here’s a virtual dime, call someone who cares. 😉https://www.irs.gov/help/telephone-assistance

Stu1961

Sneakylong True, but possibly, only because their current model is to continually funnel enormous annual profits back into their ever growing behemoth of an organizational steamroller. Without the players, the league collapses. They better find a way to appease them, better than their current fear based model, and it won’t be through promises of “legacy”. They could have achieved that while remaining amateurs.

Also, do you have any clue how the IRS operates either? Twice you’ve pointlessly directed to them - when they only enforce laws. The only interest I have in their tax status is in understanding their behavior based on the lengths they go to protect it.

Sneakylong

Stu1961

Now we’re on the same page. And we’ll see how it all plays out. The IRS thing was a joke. The PGA and other non profits play within the tax laws.

Not to get sidetracked, but when we worked for AT&T you could sign up and have a percentage of your pay go to the United Way.

When some of us found out how much out of a dollar goes to charity and how much went for administration etc., we stopped contributing. At the time it was pretty outrageous. So non profit charities are a whole other discussion. Not relevant for me here though.

Stu1961

Interesting article on at least one of the ways the PGA has decided to fight the LIV threat: [https://news.bloomberglaw.com/business-and-practice/pga-boosts-dla-piper-lobbying-as-golf-rival-doj-challenge-tour]

Hmmm … it seems they may have stepped on their own dick with this effort.

johnnydoom

Stu1961 Shakedown. PGA got to share the wealth with some of the "right" people. If it comes down to a lobbying war I bet the Saudis are pretty good at it 😆

Sneakylong

Stu1961

I posted about them increasing their lobbying efforts awhile ago. Seems ‘smaht’ to me. Use all the levers at their disposal.

KCee

Sneakylong A lot of big companies lobby, but I have to admit I don't care for a not for profit that shouts about their charitable giving to be spending on lobbying. That money could go to charity or maybe to the "regular" employees?

Why doesn't the Tour just seek status as a church? Many people worship golf (most are probably older white Christians?) and that would really give them freedom from the IRS lol.

Stu1961

Sneakylong
Probably not so “smaht” if doing so brings the Dept of Justice down on them. They should probably leave the illegal monopolistic anticompetitive tactic levers un-pulled. JMO

Sneakylong

KCee

I have no problem with them lobbying. Lobbying is a constitutional right we all have. Not sure the Saudi's are lobbying on this, but they do spend a ton lobbying Washington. As for the church stuff, not up my alley, being a devout atheist and all. lol

A little story on lobbying. Years ago my brother in law's commercial fishing association went to lobby their Congressman Gerry Studds who represented Cape Cod at the time.

They went in to talk to him and brought a few thousand dollars for his campaign. He actually shed a tear when they gave it to him. Shorty after he announced he wasn't running for another term. Kept the money though. 😏

sdandrea1

I wonder if the Saudi's lobby against the electric/fuel efficient car industry. Random thought......

johnnydoom

sdandrea1 They might be some primary investors. They are aware that they need to transition their economy away from oil as the supply dwindles. There will always be some strategic demand for oil, but for most civilian and industrial uses it has to transition to something else. Part of the reason they are investing in things like a golf tour and world-wide properties. Outside of oil, they don't have any other resources to establish industries for export.

https://www.bloomberg.com/news/articles/2022-05-18/lucid-s-saudi-ev-factory-to-receive-3-4-billion-in-incentives#:~:text=Saudi%20Arabia%2C%20which%20owns%20a,over%20the%20next%2010%20years.

DonM

sdandrea1 They own 60% of Lucid. (New EV company in Arizona.)

Eguller

johnnydoom Outside of oil, they don't have any other resources to establish industries for export

Hmmmm.... so, wonder if they know the term 'diversify' ?

Stu1961

Sneakylong
Sneaky … this is the second or third time I can recall you mentioning the Cape. Are you down there? I just bought a place in West Harwich (about a drive and lob wedge from Pleasant Road beach). We closed just 4 days ago.

johnnydoom

Eguller diversify

❓️

Eguller

johnnydoom

Their income stream. No oil = Screwed.

johnnydoom

Eguller True. That's why they've invested their oil profits all over the world, and part of that investment is in companies and properties that fuel alternative energy sources. Question their ethics as you see it, but they are investing in many other future revenue streams and "diversifying" their portfolio. Only problem for them is that most of it has to be foreign investment, which means they will be fully dependent on other countries not to nationalize their properties.

Eguller

johnnydoom they will be fully dependent on other countries not to nationalize their properties.

That is the rub. What could go wrong ? After all, everyone loves them. 🤔

johnnydoom

Eguller After all, everyone loves them

Even if you don't love them, if you have a military that will depend on future supplies of oil, or your country's defense is dependent on another country whose military will depend on future supplies of oil, it might not be such a bad idea to keep a collaborative relationship with them. Someone will always love them until the last drop of oil is gone or until some other form of energy that can be delivered to, or produced at, the front line in battle comes around.

sdandrea1

Stu1961

Sneaky is near me on Florida's nature (west) coast. He hails from the land of chowdah, tho. 😉

Sneakylong

Stu1961 Sneaky … this is the second or third time I can recall you mentioning the Cape. Are you down there? I just bought a place in West Harwich (about a drive and lob wedge from Pleasant Road beach). We closed just 4 days ago.

Cool. I'm from Harwich (class of 73 lol). Know Harwich very well. I was just up in Harwich to attend my nephews wedding at Wequassett Inn / Resort and Golf Club on Pleasant Bay in Harwich.

Had some nice fried clams at Cream and Cone in Chatham and a nice scallop roll at the Weather Deck in West Harwich. Miss the seafood.

My wife and I went to work for AT&T in North Andover in 1979, but went down to Harwich a lot being only 2 hours away. Moved to Florida in 2002. Sister and bil have a vacation home on the east coast of Florida, so we visit when they come down.

My sister and her family still live in Harwich. Brother in law and nephew have a commercial lobster business in Harwich. My father owned a sports / bike / locksmith shop on Rt 28 in Harwichport next to Georges Pizza back in the 1970's where I worked. It's an art gallery now.

Best job I ever had though was I sold Snow Cones one summer out of my Ford Econoline Van mainly on Red River beach, Bank Street beach and Pleasant Street beach. Caught a lot of striped bass out of Herring River in West Harwich.

Use to fish and water ski in Nantucket Sound off Wychmere and Saquatucket harbors. That was well before the Great White sharks showed up following the seals. lol

Played Cranberry Valley golf course in Harwich while I was up there. Great course and very reasonable for residents. I think it's only ~ $800 dollars a year membership.

You must be doing ok for yourself if you just closed on a house in West Harwich. lol The Cape is like the Hamptons now with crazy real estate prices these days. Love the Cape. My 50th class reunion is next year.

View from Wequassett Inn on Pleasant Bay in Harwich with Eastward Ho Golf Club (very exclusive) in Chatham in the back ground

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