With the new basketball LLC, can they allow “regular” people to buy shares of the company and maybe get paid out dividends/some kind of profit sharing? Is this how the Green Bay Packers are set up where season ticket holders own the team? Meant to ask this when it was announced but this article I just saw reminded me:
New UK Basketball LLC
- Thread starter LowerLevelSeatA
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I've been on these boards since 2003 when I was still a young'n using my dad's account to keep up with all things CATS. I've seen GYERO quite a few times but I can't remember what it means to save my life. Help a fellow blue bleeding cat fan out?
Get Your Everlovin' Random On.
I jumped in there a few years ago and asked wtf was going on and got some random trolling from a few users and never a straight answer. I read through a few of the most recent pages at the time and it was like hillbilly 4chan on meth. So thanks for finally providing some clarity.
I used to check in occasionally, but it never seemed to hold my interest.
I don’t think the LLC is just for basketball. It’s to benefit the entire athletic program. Football will benefit too. Basically turning UKAthletics into a Corporate structure.
That is my understanding as well. Its the entire athletic program. I do not see it being a non profit since it is set up as a LLC.
Not exactly in response to the Green Bay Packers. The ownership shares held by the fanbase are token-only. They offer no benefit other than just saying that you are "part-owner." They give the holder no voting power and return no value in lieu of profits or any other future value (such as the team being sold to a different ownership group). Some might even call it a scam because all you really own is a meaningless piece of paper.
Oh, I’m sure the intent is to make as much money as they can possibly take in. But athletes would be part of the “profit sharing” so to speak.
To be honest I'm not sure how that is going to shake out. I believe we are still waiting on a judge to rule and for a final settlement to be reached.
I don't think they are waiting on that to form the LLC. I think that's happening regardless of the ruling, but depending on the ruling those funds will go into that LLC.
Yes the LLC is being formed now regardless of ruling. Will be interesting to see what comes out of the ruling and any impact on the team and how it operates.
Regardless of the ruling, I hope the LLC proves to open new avenues for revenue stream and helps put us closer to the top when it comes to NIL. At least Mitch is thinking outside the box for once and trying to find alternatives to help us compete on a bigger scale overall.