Paulick Report has this article regarding the sale of TVG.
I have absolutely no idea how any of these arrangements make sense, let alone work, so I admit that this might be totally off the wall but why don't a few people get together and buy up TVG and make a hostile bid for HRTV?
TVG's value is estimated at $112 million? Offer the same for HRTV. There is no reason that CDI shareholders would not at least consider it.
The NTRA professes to have the marketability of the sport as a priority. Pony(get it) up the cash and you have your own network. Need investors? Halsey minor, a Virginian as Kerry at Thoroughbredbrief is quick to point out, has made an offer for Hialeah but that looks to be stalled for now; he could be an investor in this little venture. B. Wayne Hughes has some money I am told, Reddam does too.
A lot of people have money and claim to want the best for this sport. What if they all got together, formed an LLC and started a t.v. channel? What about Excelsior Racing, that quondam group with Jerry Bailey that wanted to buy out NYRA? What about the big name breeders?
I realize that there are a myriad issues that need to be worked out, the least of which is the allocation of racing air time. What track gets short shrift, Yavapai Downs is my guess but then anyone that wants to bet Yavapai is probably in the neighborhood and if they don't go to the track then maybe it should not be around.
Does anyone think that this idea has legs? (I did it again!) I would love to hear any suggestions.
29 July 2008
Seriously...what would it take?
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The Bid
Greatest horse ever to look through a bridle
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3 comments:
If only it were that easy. Is HRTV worth $112 million, or $11.2 million, or $1.12 million? I don't have a clue, and neither doesw anyone else without looking at their financials, which I haven't seen.
Yes, a single, national racing TV network makes sense, as does a single, uniquitously accessible betting platform, with arrangements that provide a fair share to the horsemen who put on the show and a reasonable takeout, so bettors can stay in the game. It's a long long way from here to there, though.
I like this idea, despite the total gap in my knowledge of gaming / simulcasting, etc. law.
Corporate law, though, makes my heart go pitter-patter. And since I don't have the cash to invest in the initial acquisition of TVG, that frees me up to be lead counsel on forming the entity, initial capitalization, etc. And you can bet your Irish martingale I'll be lead shark in the hostile takeover. You just have to, uh, wait a couple of years, until I've passed the bar and whatnot. Details.
Mr. Zorn- You make an excellent point.
The fundamentals would be instructive in that regard but I would guess that nobody in horse racing, breeders and track owners notwithstanding, gets in for the profit of it. Your recent post was singularly instructive in that regard.
I was just thinking that if someone that is well backed came in with an offer so lucrative that CDI shareholders would absolutely jump on it, then the thing could be had.
Sound business practice of course would have to dictate the offer and I am way out of my league when it comes to any sort of sound practice, business or otherwise.
With the insane amounts of money that are thrown around at unproven horses one would think that something could be put together to buy up the networks and turn them into a solid and profitable, long running business.
Shameless-I don't know much but I know enough to know that by the time you pass the bar this little Empire will have need of a lead shark.
Thank you both for reading.
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