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The John Ruiz family is ready to support Miami’s athletic department ‘substantially’ in the future per 247

canesplaymaker said:
Most of the current BOT have given millions over the years and this guy has given next to nothing. A lot of them think he is full of hot air and won’t come across. They want a big check right now and a pledge of future donations before they listen to him.
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Fair position.
 
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Rellyrell said:
So when we kept hearing The University is broke & doesn’t have boosters that want to get involved???? @Cribby
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Up to now that was somewhat right, it wasn’t broke, it never has been, but it had a real low rate of giving. Still does. I don’t know if any of this goes through or not, but we’re projecting the possibility of big-time money that puts us on a more equitable level.

So, you know, we can hire more analysts, better coaches, improve facilities, etc. things that lead to more winning and better recruiting, things that make the university more attractive to players and coaches.

We need more commitment, and the only commitment that counts is money.
 
paksat said:
you're talking about 4 guys worth 40 billion at least, then the university gets what 44 million annualy from the ACC alone?

don't ever ever say this program can't afford something
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The guys with 40 billion or whatever you think they have, need to give the money first. That’s not university money, that’s money is theirs.
 
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Rellyrell said:
However, it’s already been reported that way least one booster was ready to give & it was rejected. Lol
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Yeah that was just dumbass Blake fūckery - he’s gone now.

The actual amount that he was giving that day was not that much. I mean Blake gave a fūcked up answer, which is typical, but we are not talking a lot of money.

You can check my post history, I’ve been wanting Blake fired for years.
 
OriginalCanesCanesCanes said:
I haven’t looked this up yet but do you know or have any idea of what Ruiz‘s net worth is right now, forgetting the SPAC possible valuation.
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None, though he's clearly well off. Seems like he has a reasonably successful plaintiff's side litigation firm (likely the basis for this business idea); based on that I'd guess he's got a few million liquid. Very liberally I'd guess over $10M but not significantly more. Most of his overall nw is probably tied up in his law firm, and anyone familiar with the structure of law firms knows that as an equity partner, you have to be bought out (which is not always possible, either because the other partners are unwilling or unable). As a side note, his law firm has a very unusual revenue share deal with MPS Recovery, one of of several issues with the SPAC acquisition. As some others on the board have noted, he recently purchased a ~$25M condo, but I'd hesitate to glean too much from that - apparently he purchased it from the founder of the SPAC that's taking MSP public and paid for at least half of it with MSP stock. One of the conflicts of interest in the deal I referenced before.

@canadianhurricane My interest in this is first and foremost, can this guy help the U. And secondarily, a personal/professional interest in the world of Miami finance, since it's not every day a $30bn company headquartered on S. Le Jeune appears out of nowhere without anyone knowing about it. Like I said initially, don't really care where the $ comes from as long as it's not human trafficking or reverse mortgages or something cartoonishly evil like that. Hard to find a fortune that big made 100% honestly, and among the redneck state scumbags that fund SEC teams the honest fortunes might be 1 in 10, or 1 in 20. Don't care if it's fake, and the bigger the better as long as it goes to the U. But the fact that the company may be totally fake is reason to be cautious about how much money this guy can ultimately provide the university. As far as attention - I don't think anyone is reading this forum more than they're reading Bloomberg, which has published a half dozen articles on this SPAC.

Maybe that doesn't matter, maybe he only realizes like 20-30M out of it, or maybe 100M. I dunno. He's clearly become a player on the BOT who is advocating for good change and based on that, I hope his deal succeeds and he spends the rest of his days trying to figure out how to cram $20B into UM's athletics budget. Even if he's just a powerful voice that gives additional heft to Mas, Lambert, Lemonis, Soffer et al, I'm fine with that too.
 
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CaneintheWilderness said:
None, though he's clearly well off. Seems like he has a reasonably successful plaintiff's side litigation firm (likely the basis for this business idea); based on that I'd guess he's got a few million liquid. Very liberally I'd guess over $10M but not significantly more. Most of his overall nw is probably tied up in his law firm, and anyone familiar with the structure of law firms knows that as an equity partner, you have to be bought out (which is not always possible, either because the other partners are unwilling or unable). As a side note, his law firm has a very unusual revenue share deal with MPS Recovery, one of of several issues with the SPAC acquisition. As some others on the board have noted, he recently purchased a ~$25M condo, but I'd hesitate to glean too much from that - apparently he purchased it from the founder of the SPAC that's taking MSP public and paid for at least half of it with MSP stock. One of the conflicts of interest in the deal I referenced before.

@canadianhurricane My interest in this is first and foremost, can this guy help the U. And secondarily, a personal/professional interest in the world of Miami finance, since it's not every day a $30bn company headquartered on S. Le Jeune appears out of nowhere without anyone knowing about it. Like I said initially, don't really care where the $ comes from as long as it's not human trafficking or reverse mortgages or something cartoonishly evil like that. Hard to find a fortune that big made 100% honestly, and among the redneck state scumbags that fund SEC teams the honest fortunes might be 1 in 10, or 1 in 20. Don't care if it's fake, and the bigger the better as long as it goes to the U. But the fact that the company may be totally fake is reason to be cautious about how much money this guy can ultimately provide the university. As far as attention - I don't think anyone is reading this forum more than they're reading Bloomberg, which has published a half dozen articles on this SPAC.

Maybe that doesn't matter, maybe he only realizes like 20-30M out of it, or maybe 100M. I dunno. He's clearly become a player on the BOT who is advocating for good change and based on that, I hope his deal succeeds and he spends the rest of his days trying to figure out how to cram $20B into UM's athletics budget. Even if he's just a powerful voice that gives additional heft to Mas, Lambert, Lemonis, Soffer et al, I'm fine with that too.
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If your guess is $10 million, then the guy’s a pauper.

Ten million is nothing.

That’s a guppy, not a whale.
 
CaneintheWilderness said:
None, though he's clearly well off. Seems like he has a reasonably successful plaintiff's side litigation firm (likely the basis for this business idea); based on that I'd guess he's got a few million liquid. Very liberally I'd guess over $10M but not significantly more. Most of his overall nw is probably tied up in his law firm, and anyone familiar with the structure of law firms knows that as an equity partner, you have to be bought out (which is not always possible, either because the other partners are unwilling or unable). As a side note, his law firm has a very unusual revenue share deal with MPS Recovery, one of of several issues with the SPAC acquisition. As some others on the board have noted, he recently purchased a ~$25M condo, but I'd hesitate to glean too much from that - apparently he purchased it from the founder of the SPAC that's taking MSP public and paid for at least half of it with MSP stock. One of the conflicts of interest in the deal I referenced before.

@canadianhurricane My interest in this is first and foremost, can this guy help the U. And secondarily, a personal/professional interest in the world of Miami finance, since it's not every day a $30bn company headquartered on S. Le Jeune appears out of nowhere without anyone knowing about it. Like I said initially, don't really care where the $ comes from as long as it's not human trafficking or reverse mortgages or something cartoonishly evil like that. Hard to find a fortune that big made 100% honestly, and among the redneck state scumbags that fund SEC teams the honest fortunes might be 1 in 10, or 1 in 20. Don't care if it's fake, and the bigger the better as long as it goes to the U. But the fact that the company may be totally fake is reason to be cautious about how much money this guy can ultimately provide the university. As far as attention - I don't think anyone is reading this forum more than they're reading Bloomberg, which has published a half dozen articles on this SPAC.

Maybe that doesn't matter, maybe he only realizes like 20-30M out of it, or maybe 100M. I dunno. He's clearly become a player on the BOT who is advocating for good change and based on that, I hope his deal succeeds and he spends the rest of his days trying to figure out how to cram $20B into UM's athletics budget. Even if he's just a powerful voice that gives additional heft to Mas, Lambert, Lemonis, Soffer et al, I'm fine with that too.
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All very true, but he has some means currently. He’s bought 70M worth of properties in gables estates over the last year.
 
CaneintheWilderness said:
Out of curiosity, where are you getting the profitability numbers from? Their investor presentation with the SEC shows no gross or net revenue in 2021.
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I didn't see the Investor Presentation .. was going by the OLD SCHOOL guidelines that the securities industry USED TO USE back in the 70's when I worked in the industry. Back then .. IPO's were generally ONLY done by companies that had at least 2-3 years of operating history and their audited financials were part of the SEC Filing. So .. if you had a company going public at a certain PE Ratio .. you had at least some idea of their actual (reported) level of profitability. Even then 'creative accounting' was always a factor and you needed to read the fine print. THEN things took off with creative segments like REIT's, and I changed careers .. and haven't really stayed in tune with "specifics" of SEC guidelines. Pretty crazy if you can now do an IPO for a company with actually NO operating track record? That takes speculation to a new level for sure.

In the case of Ruiz it seems like his company is established, his "insurance claim inventory" has been secured (something that is an ongoing part of daily business), and they are actually in a start up mode of processing, based on the tracking technology that his company has (which is proprietary??). Guy seems to be one balls to the wall promoter for sure. Will be interesting to monitor.
 
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paksat said:
you're talking about 4 guys worth 40 billion at least, then the university gets what 44 million annualy from the ACC alone?

don't ever ever say this program can't afford something
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Let's drop the mic and decommit from the ACC!
 
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