VillaJ100 Posted June 30, 2021 Share Posted June 30, 2021 Does that mean Nassef has inherited the old man's billions as well? Link to comment Share on other sites More sharing options...
Popular Post PaulMcGrath_5 Posted June 30, 2021 Popular Post Share Posted June 30, 2021 1 minute ago, VillaJ100 said: Does that mean Nassef has inherited the old man's billions as well? 4 1 Link to comment Share on other sites More sharing options...
Phil Silvers Posted June 30, 2021 Share Posted June 30, 2021 44 minutes ago, VillaJ100 said: Does that mean Nassef has inherited the old man's billions as well? Yes and he could buy citeh and them in to a McDonald's if he felt like it. Link to comment Share on other sites More sharing options...
Hank Scorpio Posted June 30, 2021 Share Posted June 30, 2021 56 minutes ago, Phil Silvers said: Yes and he could buy citeh and them in to a McDonald's if he felt like it. Ha I think Man City owners are about 20 times more wealthy Link to comment Share on other sites More sharing options...
Steero113 Posted June 30, 2021 Share Posted June 30, 2021 1 hour ago, Pissflaps said: Ha I think Man City owners are about 20 times more wealthy Depends on whether or not you count 'family wealth' in the ownership structure. Sheikh Mansour who is the owner of City is worth $22bn. NSWE are worth $10.4bn. If you took Mansours' family wealth you are essentially reflecting the wealth of an entire province (Abu Dhabi), as that is the way the royal family works in that state. Their wealth comes from various sovereign wealth funds, in this case with over $1trillion of assets under management. Not really a fair fight Link to comment Share on other sites More sharing options...
Phil Silvers Posted June 30, 2021 Share Posted June 30, 2021 1 hour ago, Pissflaps said: Ha I think Man City owners are about 20 times more wealthy I said buy citeh not the owners. Everyone knows Egyptians under state their wealth, also Wes is a money man so he definitely also does, I think NWSE are probably worth north of £6 trillion. Link to comment Share on other sites More sharing options...
Hank Scorpio Posted June 30, 2021 Share Posted June 30, 2021 13 minutes ago, Phil Silvers said: I said buy citeh not the owners. Everyone knows Egyptians under state their wealth, also Wes is a money man so he definitely also does, I think NWSE are probably worth north of £6 trillion. Ha I know I mean I think Man City could easily to the same to us. Not that they can or would Link to comment Share on other sites More sharing options...
Popular Post TRO Posted June 30, 2021 Popular Post Share Posted June 30, 2021 Come on guys, talking about the mans wealth is a bit rich, right now. Lets just appreciate him and have respect for his loss. 6 1 Link to comment Share on other sites More sharing options...
Hank Scorpio Posted June 30, 2021 Share Posted June 30, 2021 4 minutes ago, TRO said: Come on guys, talking about the mans wealth is a bit rich, right now. Lets just appreciate him and have respect for his loss. I do for sure. Also I am sure this makes no difference financially. That isn't the big point as you say. 1 Link to comment Share on other sites More sharing options...
sidcow Posted July 3, 2021 VT Supporter Share Posted July 3, 2021 So Wes Edens Fortress Group have just bought Morrisons for £6.3bn. They must have a pretty whopping advertising budget. 2 1 Link to comment Share on other sites More sharing options...
Villa_Vids Posted July 3, 2021 Share Posted July 3, 2021 1 hour ago, sidcow said: So Wes Edens Fortress Group have just bought Morrisons for £6.3bn. They must have a pretty whopping advertising budget. Morrisons as main shirt sponsor. Adidas as kit maker. Sorted. 1 Link to comment Share on other sites More sharing options...
Phil Silvers Posted July 3, 2021 Share Posted July 3, 2021 2 hours ago, sidcow said: So Wes Edens Fortress Group have just bought Morrisons for £6.3bn. They must have a pretty whopping advertising budget. 1 Link to comment Share on other sites More sharing options...
OutByEaster? Posted July 3, 2021 Moderator Share Posted July 3, 2021 The only disappointment is that he's partnered with the sadly surviving Koch brother on this one. It's a big investment, I think I'm right in saying Fortress's biggest investment project by a distance - if he can make a success out of this one, it'll be another big step for Fortress as a company. If our owners are more successful then it can only be good for the club i guess. 2 Link to comment Share on other sites More sharing options...
villa4europe Posted July 3, 2021 Share Posted July 3, 2021 Would depend on what percentage they all own and then who's money it is they're using to actually buy them It doesn't sound like it's Wes' personal wealth thats involved, he just creams off the top, if I understand it that's his business Would therefore say that he's probably not allowed to stick a £50m a year Morrisons logo on the front of our shirt either, it's his clients money not his Link to comment Share on other sites More sharing options...
OutByEaster? Posted July 3, 2021 Moderator Share Posted July 3, 2021 Here's a question for someone who understands corporate structures more than I do. How does Fortress work and how does Wes Edens make money out of it? Mr Edens founded it and runs it, it invests in things, then either profits from the operation of those things or develops them and profits on their sale. That much I get. But it's owned by Softbank*, a Japanese bank founded by Masayoshi Son - he bought Fortress in 2017 - so I guess that the ultimate profits from its operations go to Softbank? So how does Wes's cut work? Does he have a percentage? Is owning a fund company separate from the profits of funds themselves? Does Wes profit as an investor in his own fund, or via percentages of the dividend? Big money is a weird world. *(Incidentally, one of the companies that Softbank owns is Fanatics, who do a reasonably shoddy job of running all of our kit sales and might go some way to explaining why the club haven't ditched them.) Link to comment Share on other sites More sharing options...
DevonIsAPlaceOnEarth Posted July 3, 2021 Share Posted July 3, 2021 9 hours ago, OutByEaster? said: Here's a question for someone who understands corporate structures more than I do. How does Fortress work and how does Wes Edens make money out of it? Mr Edens founded it and runs it, it invests in things, then either profits from the operation of those things or develops them and profits on their sale. That much I get. But it's owned by Softbank*, a Japanese bank founded by Masayoshi Son - he bought Fortress in 2017 - so I guess that the ultimate profits from its operations go to Softbank? So how does Wes's cut work? Does he have a percentage? Is owning a fund company separate from the profits of funds themselves? Does Wes profit as an investor in his own fund, or via percentages of the dividend? Big money is a weird world. *(Incidentally, one of the companies that Softbank owns is Fanatics, who do a reasonably shoddy job of running all of our kit sales and might go some way to explaining why the club haven't ditched them.) Usually hedge funds charge a fee to all their investors. A management of funds fee or sometimes this can be a percentage of revenues Pension funds etc are happy to pay it because their investments usually yield long term returns beyond what any bank interest would. And it’s easy for them. Hedges are basically the collective funds of investors, the companies effectively make investment decisions for them. Anyone can set one up, but good hedge funds/holding companies are rare. Wes Edens is an exceptionally clever man. Since Fortress was taken over, it is likely Edens is probably working under some contractual arrangement where he is salarised/bonused to the hilt for performance, but he is likely still at the sharp end of deciding where to invest etc. That said, Wes probably also has some money in the Fortress hedge still. 1 Link to comment Share on other sites More sharing options...
Kiwivillan Posted July 3, 2021 Share Posted July 3, 2021 13 hours ago, sidcow said: So Wes Edens Fortress Group have just bought Morrisons for £6.3bn. They must have a pretty whopping advertising budget. We've bought Clinton Morrison for £6.3bn? NSWE OUT!!! 4 Link to comment Share on other sites More sharing options...
Phil Silvers Posted July 3, 2021 Share Posted July 3, 2021 2 minutes ago, Kiwivillan said: We've bought Clinton Morrison for £6.3bn? NSWE OUT!!! its just clickbait, why do you believe everything you read man, have a beer. Link to comment Share on other sites More sharing options...
Kiwivillan Posted July 3, 2021 Share Posted July 3, 2021 4 minutes ago, Phil Silvers said: its just clickbait, why do you believe everything you read man, have a beer. It's 10:25AM on a Sunday. That's at least an hour too early for a beer Link to comment Share on other sites More sharing options...
nick76 Posted July 3, 2021 Share Posted July 3, 2021 (edited) 10 minutes ago, Kiwivillan said: It's 10:25AM on a Sunday. That's at least an hour too early for a beer Are you sure? I’ve had a few early beers in Takapuna a few times over the years on the weekends Edited July 3, 2021 by nick76 Link to comment Share on other sites More sharing options...
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