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3* 2021 LB Eric Gentry Hits the Portal
- Thread starter lindend
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Just making the point that fans argue how much a dude should be paid all the time and its obvious it's not coming out of their own pocket and that's not what they mean. If whatever poster that was thinks Gentry isn't worth 1 million because he's worried that that's taking away from picking up more players, let him live. As far as me... I get a weird feeling about Ruiz' fortune and ill take every dime he's willing to give now.
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From someone who knows nothing about SPAC, whats the word. Is this guy going to be worth multi-billions or not and why?
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That poster is moronic. It's not like we have a bunch of other options you take best available. Mario isn't looking to punt this season or start a rebuild. He obviously wants to be competitive on national level starting yesterday. Very few college athletes are worth a mil but the market is the market. Just like very few NFL QBs are worth +40 mil, but every contract going out will see that as a baseline.
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Ask the poster that doesnt want to give Gentry 1 million. All im saying is that the "its not your money" argument is dumb when its obvious what fans mean when they say "I don't want to pay x, x amount." It's using budget wisely
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This article says the SPAC was valued at $33b and he has a 70% stake in the company, hence the $23b. Obviously depends what it ends up being.
How Ex-TV Lawyer John Ruiz Turned Millions into Billions
John H. Ruiz started in personal injury, moved to class action, identified a flaw in health care insurance payments and leveraged it to grow a multi-million dollar company. Now, thanks to a SPAC, he's set to earn much, much more.
954Cane'21
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Ever since my brother started working in family office Private equity my mind has been blown. Forget your standard 8% S&P return, anything under 15-20% even in down markets is a fireable offense....the returns you have access to after a certain level is insane
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Has Gentry said he’s going anywhere else other than USC so far? I’d imagine he has their best offer - I wonder where else he visits I assume Penn State will be after him big with Manny’s hard hitting defense lol
umcane4life
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It’s not about the money. no one on the team has a million dollar nil deal. I think the risk of messing with the locker room with him getting a million far outweighs his talent. Obviously you have a different opinion and that’s cool.
dycane
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Even presuming those numbers are accurate, that does not mean Ruiz is walking home with $23b in cash in his pocket.This article says the SPAC was valued at $33b and he has a 70% stake in the company, hence the $23b. Obviously depends what it ends up being.
How Ex-TV Lawyer John Ruiz Turned Millions into Billions
John H. Ruiz started in personal injury, moved to class action, identified a flaw in health care insurance payments and leveraged it to grow a multi-million dollar company. Now, thanks to a SPAC, he's set to earn much, much more.www.law.com
Wtf cares??!!
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CanefaninBuckeyeland
The Shogun of CIS
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We do...cuz we're obsessed with other people's money!
Exactly lol!
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First of all, SPAC means Special Purpose Acquisition Corporation.This article says the SPAC was valued at $33b and he has a 70% stake in the company, hence the $23b. Obviously depends what it ends up being.
How Ex-TV Lawyer John Ruiz Turned Millions into Billions
John H. Ruiz started in personal injury, moved to class action, identified a flaw in health care insurance payments and leveraged it to grow a multi-million dollar company. Now, thanks to a SPAC, he's set to earn much, much more.
SPACs was a major focus of one company of another famous U Miami benefactor billionaire. Think Frost music school and Frost Band of the Hour: Philip Frost.
If I'm not mistaken, Ruiz sold about 1% of one of his companies (MSP RECOVERY) for about $330 million in value. Hence, Ruiz's company (outside of the SPAC: LIONHEART <ticker: LCAP nasdaq>) would be technically valued at about $33 billion!!!
The SPAC has gone up in value since he sold his 1%, so his Net Worth Computation, I assume, would have risen (on paper) to his percentage ownership of MSP multiplied by about $35 billion.
If he owns 70% of MSP, and the MSP owners got cash for selling the ~1% to LIONHEART, then he got about $230 million in cash, and a paper valuation for his remaining MSP ownership of about $23 billion.
This is all what I understand from personal experience regarding SPACs and a quick glance at an article yesterday about Ruiz, LIONHEART and MSP RECOVERY.... so I apologize if I have misread, or misinterpreted anything!!
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Finally someone who explains this lol
Yeah, I don't think anybody who does not deal in a cash business like drug trafficking has a "B" in cash on their balance sheet or checking account. At least not personally. Anybody who amasses that much net worth knows to put it to use
THAT depends. If the SPAC that was originally planned actually is approved by the Securities Exchange Commission and goes through at the initially projected stock price ... then YES his % ownership in the company would be worth in excess of $23 billion in stock value. His sale of that stock would be limited so it wouldn't be liquid ... but would have an incredible base for cashing in shares over time if the company performed and stock value was maintained or increased.
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