3,343
 

Black Billionaire Robert F. Smith Could Become The First Black Owner Of An NFL Team



ADVERTISEMENT
 
topics gone triple plat - Number 1 spot 3X PLAT




section  x1   |  0 bx goons and 1 bystanders Share this on Twitter       Share this on Facebook

section wild 'ish
  
 4 months ago '13        #1
979 page views
25 comments


YSPromoshunz  topics gone triple plat - Number 1 spot x99
avatar
Props total: 55673 55 K  Slaps total: 38567 38 K
Black Billionaire Robert F. Smith Could Become The First Black Owner Of An NFL Team
 

 
The Denver Broncos NFL franchise is expected to be sold this off-season, and Black billionaire Robert Smith is emerging as a candidate to buy the team.

According to Front Office Sports, Smith has emerged as a possible bidder to purchase the Broncos and could become the first Black owner of an NFL franchise. Smith, a 59-year-old entrepreneur who grew up in Denver, is the richest Black person in the US with an estimated net worth of $6.7 billion.


The Broncos were valued at $3.75 billion last year, and their sale is expected to net more than $4 billion, which would make it the most expensive team sale in US sports history.
+12   



best
worst
25 comments
 

 4 months ago '13        #2
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K

+7   

 4 months ago '04        #3
Fresh Beats 
Props total: 39858 39 K  Slaps total: 1310 1 K
It would be dope if he bought the Broncos and then Rodgers and Adams went there.
-1   

 4 months ago '19        #4
unit321  topics gone triple plat - Number 1 spot x29
Props total: 55503 55 K  Slaps total: 11507 11 K
I would bet if Jeff Bezos offered to buy the team, they would sell it to Bezos.
+9   

 4 months ago '13        #5
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K
 unit321 said
I would bet if Jeff Bezos offered to buy the team, they would sell it to Bezos.
The reports of Bezos eyeing NFL ownership date back to 2018, when CBS Sports reported that Bezos was considering buying an NFL team. Soon after, the Washington Post reported that Bezos was interested in buying the Seattle Seahawks following the death of its owner, Microsoft cofounder Paul Allen.

The Seahawks never went up for sale, and Allen's sister, Jody, took over the ownership of the team.

Earlier this season, Bezos was reported to be interested in buying the Denver Broncos when they're expected to be put up for sale next year.
+1   

 4 months ago '19        #6
unit321  topics gone triple plat - Number 1 spot x29
Props total: 55503 55 K  Slaps total: 11507 11 K
 YSPromoshunz said
The reports of Bezos eyeing NFL ownership date back to 2018, when CBS Sports reported that Bezos was considering buying an NFL team. Soon after, the Washington Post reported that Bezos was interested in buying the Seattle Seahawks following the death of its owner, Microsoft cofounder Paul Allen.

The Seahawks never went up for sale, and Allen's sister, Jody, took over the ownership of the team.

Earlier this season, Bezos was reported to be interested in buying the Denver Broncos when they're expected to be put up for sale next year.
Bezos is kind of a weird dude. I see him as someone who doesn't care about "football" and more about owning a professional sports team as a fun, human-like hobby.

GM: So, we want to stay under the cap, and so Dante is our number one choice at the cornerback position... with us going in at 14 in the draft.
Bezos: Hmm, interesting. We just can't pick the number one player? We have the money.
GM: Well, the draft is designed to be fair for all teams. We don't have the first pick.
Bezos: OK. I leave that in your hands. I have an idea of opening an Amazon store in the stadium parking lot. Imagine, ordering a Denver Broncos shirt and tailgate food on your cell phone and being able to pick it up at the game in a drop box locker? How awesome is that?
GM: Sounds good.
+3   

 4 months ago '13        #7
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K
 unit321 said
Bezos is kind of a weird dude. I see him as someone who doesn't care about "football" and more about owning a professional sports team as a fun, human-like hobby.

GM: So, we want to stay under the cap, and so Dante is our number one choice at the cornerback position... with us going in at 14 in the draft.
Bezos: Hmm, interesting. We just can't pick the number one player? We have the money.
GM: Well, the draft is designed to be fair for all teams. We don't have the first pick.
Bezos: OK. I leave that in your hands. I have an idea of opening an Amazon store in the stadium parking lot. Imagine, ordering a Denver Broncos shirt and tailgate food on your cell phone and being able to pick it up at the game in a drop box locker? How awesome is that?
GM: Sounds good.
I just can't wait to Robert F. Smith buy the Denver Broncos and become the first black owner of a NFL team. He's gonna be the Obama of NFL teams. The Broncos bout to start kicking a*s and winning all the Super Bowls thanks to the new black owner. This will start a trend where alot of black people start owning nfl teams and take over the NFL. It's gonna be dope asf
-5   

 4 months ago '15        #8
Philly dude 
Props total: 2839 2 K  Slaps total: 562 562
That would be good. Plus he could get an actual team that has interest in winning

 4 months ago '18        #9
No Religion  topics gone triple plat - Number 1 spot x6
Props total: 45562 45 K  Slaps total: 3374 3 K
I'll believe it when the ink drys. All this diversity talk, lets see what they really about.
+4   

 4 months ago '13        #10
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K
 No Religion said
I'll believe it when the ink drys. All this diversity talk, lets see what they really about.
If a black man became President of the entire country for 8 years then this is definitely gonna happen. People was willing to bet their lives on Obama not becoming President because they thought there would never be a black President even if he won the election. They was saying sh*t like "America would never allow a black man to become the President of America no matter what. Even if he won the election they still would find a way to lie and say he lost".

Then next thing you know












And then it happened again



Trump is a white man and he couldn't even get 2 terms but a black man got 2 terms.

Trump and his supporters biggest fear was Trump not getting 2 terms like Obama did. Trump and his supporters biggest fear was a white supremacist not being able to get 2 terms like the black man did. Trump and his supporters really was happy thinking Trump was gonna get a 2nd term like Obama. Biden said
.



Last edited by YSPromoshunz; 01-25-2022 at 11:35 PM..
-2   

 4 months ago '05        #11
nupe1911 
Props total: 5389 5 K  Slaps total: 844 844
Not happening...he is not in the good ole boys club and hasn't paid any dues.

A group led by Hov will be the only group that has a shot at minority ownership.
+3   

 4 months ago '13        #12
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K
 nupe1911 said
Not happening...he is not in the good ole boys club and hasn't paid any dues.

A group led by Hov will be the only group that has a shot at minority ownership.
It's definitely happening. Y'all just mad it's gonna happen. Y'all think y'all gonna speak it not happening into existence but that's not gonna work. He's definitely gonna be the Broncos new owner and it's gonna burn y'all souls.

People gon be so mad and jealous of a black man owning a NFL team I can't wait. The same thing y'all saying about Robert is what they said about Obama being the first black president. And it's the same thing y'all said about Biden beating Trump. Y'all just keep being wrong over and over. This black man's net worth is $6 Billion Dollars he's definitely gonna be the Broncos new owner and ain't nothing nobody can do about it
-3   

 4 months ago '17        #13
Kingahmed85 
Props total: 724 724  Slaps total: 27 27
He is the same man that paid a graduating class at Morehouse tuition

So I wouldn’t be surprise he has the capital
+5   

 4 months ago '13        #14
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K
 Kingahmed85 said
He is the same man that paid a graduating class at Morehouse tuition

So I wouldn’t be surprise he has the capital
Exactly his net worth is $6 Billion. Bx don't want this to happen so bad they're literally gonna drop dead when he becomes the Denver Bronco's owner
-2   

 4 months ago '17        #15
DrOTGenesis 
Props total: 9626 9 K  Slaps total: 1090 1 K
Bro this n*gga winning. Imagine being a billionaire and not being that famous. Never heard of this dude until he paid for the college tuitions and haven’t heard of him since then.
+7   

 4 months ago '04        #16
xbossxplayax 
Props total: 25409 25 K  Slaps total: 4500 4 K
dont jinx it!
-1   

 4 months ago '15        #17
fanwrestlingyea 
Props total: 685 685  Slaps total: 37 37
Can smell a scandal already brewing...

 4 months ago '18        #18
Rugby Jones  topics gone triple plat - Number 1 spot x6
Props total: 53375 53 K  Slaps total: 8011 8 K
Hope so
+2   

 4 months ago '21        #19
Playboy69  topics gone triple plat - Number 1 spot x14
Props total: 36477 36 K  Slaps total: 3913 3 K
Bring a team back to Saint Louis

 4 months ago '12        #20
ezduzit 
Props total: 58666 58 K  Slaps total: 5585 5 K
“Richest black person in the us” lol

How about one of the wealthiest people in the us

 4 months ago '13        #21
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K
 ezduzit said
“Richest black person in the us” lol

How about one of the wealthiest people in the us
They call Elon Musk the richest white person. But you're right Robert F Smith is one of the wealthiest people in the U.S. This black man's net worth is $6 Billion Dollars!

 4 months ago '18        #22
FireBeats  topics gone triple plat - Number 1 spot x31
Props total: 85335 85 K  Slaps total: 18441 18 K
Salute!


+1   

 4 months ago '07        #23
yola  topics gone triple plat - Number 1 spot x79
Props total: 113209 113 K  Slaps total: 15468 15 K
anybody ever hear anything from or about them people he paid off their school debt?

 4 months ago '05        #24
nupe1911 
Props total: 5389 5 K  Slaps total: 844 844
 YSPromoshunz said
It's definitely happening. Y'all just mad it's gonna happen. Y'all think y'all gonna speak it not happening into existence but that's not gonna work. He's definitely gonna be the Broncos new owner and it's gonna burn y'all souls.

People gon be so mad and jealous of a black man owning a NFL team I can't wait. The same thing y'all saying about Robert is what they said about Obama being the first black president. And it's the same thing y'all said about Biden beating Trump. Y'all just keep being wrong over and over. This black man's net worth is $6 Billion Dollars he's definitely gonna be the Broncos new owner and ain't nothing nobody can do about it
Did you comprehend what I wrote? You are either trolling or incredibly stupid...probably both.
-1   

 4 months ago '13        #25
YSPromoshunz  topics gone triple plat - Number 1 spot x99 OP
Props total: 55673 55 K  Slaps total: 38567 38 K
 yola said
anybody ever hear anything from or about them people he paid off their school debt?
What are we suppose to hear from them or about them?
He Paid Off Morehouse Grads’ Debt. Now Robert Smith Is Trying Income-Based

In September 2019, Vista Equity Partners CEO Robert F. Smith followed through on his pledge, paying $34 million to settle the loan debt for the nearly 400 students who graduated that spring from Morehouse College. Morehouse President David A. Thomas praised it as a “liberation gift” for those graduates as they start their careers without debt.

But what about other students?

While generous, Smith’s largesse was just a band-aid on the country’s $1.6-trillion student debt problem, the solution to which shouldn’t hinge on one’s luck of timing, says Keith B. Shoates, vice president of the office of the CEO at Vista Equity Partners. “That was a transformational gift. But it doesn’t scale. It was for one institution, for one class of students.”

Smith, the wealthiest Black person in America according to Forbes, has pledged to reduce student debt, particularly at historically Black colleges and universities (HBCUs) where students graduate with a median debt of $29,000, or about 32 percent more than their peers from other institutions.

This summer, Smith helped set up the Student Freedom Initiative (SFI), a nonprofit that aims to provide financial and career support for HBCU students. And last week, it announced the first nine colleges that will be part of the program: Claflin University, Clark Atlanta University, Florida A&M University, Hampton University, Morehouse College, Prairie View A&M University, Tougaloo College, Tuskegee University, and Xavier University of Louisiana.

SFI is funded by a pair of $50 million contributions—one from Smith personally, and another from the Fund II Foundation, where Smith also serves as board president. (Smith has also admitted to tax evasion to federal authorities and paid a fine, but has not been criminally charged.)

Starting in fall 2021, the SFI program aims to serve 900 juniors and seniors who are pursuing STEM majors, says Shoates, who is also executive director of SFI. (Here are the approved programs at the nine schools.) The plan is to eventually scale that number to support 5,000 students each year across all participating colleges.

An anchor part of the program is a financing vehicle that SFI officials believe can help alleviate college debt at HBCUs. Called an “income-contingent financing alternative,” it allows rising juniors and seniors to borrow up to $20,000 per year after they’ve exhausted federal subsidized and unsubsidized loans, grants and other scholarships offered by their colleges.

Some of the repayment terms are similar to those found in income-share agreements (ISA). For every $10,000 a student takes out, they agree to pay 2.5 percent of their salary every month for a set time after they get a job, as long as they are earning at least $30,000. (So if they take out the full amount available—$40,000—the monthly payment would be 10 percent of their income.) All repayments go back into the SFI fund to support future students, with the goal of making this a self-sustaining fund.

But unlike ISAs that set the repayment cap as a multiple on the amount borrowed (the University of Utah is set at 2X, for example), SFI pegs its cap to be lower than what a student would repay if he or she borrowed the same amount under a Parent PLUS loan.

For example, a student taking out a $10,000 Parent PLUS loan would end up paying back about $12,904.80 over a 10-year period (or $107.54 a month), at the current 5.3 percent interest rate. Borrowing that same amount under SFI, if the student’s income-based repayments are $107.54 per month, he or she would complete the repayment obligation in a shorter period of time, and end up paying less in total over the same 10-year period.

“Our pricing is such that the terms will be better than taking out a Parent PLUS loan,” says Fred Goldberg, a former IRS commissioner who is now an outside counsel for the Student Freedom Initiative. He says the financial modeling is based on “conservative” a*sumptions, including a reduction of salary projections to account for the pandemic’s impact on jobs and wages.

That modeling was done in partnership with the Jain Family Institute, a New York-based nonprofit that has helped other programs, including Purdue University and the San Diego Workforce Partnership, research and design their ISA terms.
Beating Parent PLUS

When it comes to student financing options, Parent PLUS loans are generally considered one of the last resorts after students hit their federal loan limit (typically $5,000 to $7,500 each year). As the name implies, this option lets parents borrow money to fund their child’s college education, but on terms that are less favorable than federal loans. Interest rates are higher, and interest accrues as soon as the loan is taken out, not after a student graduates.

Families can borrow more under a Parent PLUS loan, but critics say this has compounded the debt problem. A report from the College Board found that the average Parent PLUS loan was $17,220 for the 2018-19 school year, or 2.6 times the average undergraduate student loan. Roughly 3.6 million families now hold over $100 billion in Parent PLUS debt, according to the National Student Loan Data System—and it is estimated that more than 1 in 8 will default.

Shouldering a disproportionate part of that debt are HBCU families. A report from the United Negro College Fund found that nearly twice as many HBCU undergraduates rely on Parent PLUS than their non-HBCU peers. A 2019 analysis by USA Today found that the percentage of families with Parent PLUS loans at HBCUs is twice that at all colleges combined, despite the fact that over 40 percent of Black families with such loans earn less than $30,000 a year.

“Each year, thousands of black graduates from HBCUs across America enter the workforce with a crushing debt burden that stunts future decisions and prevents opportunities and choices,” Smith said in a statement. “The [Student Freedom] Initiative is purposefully built to redress historic economic and social inequities and to offer a sustainable, scalable platform to invest in the education of future Black leaders.”

Besides promising a lower overall cost versus Parent PLUS loans, SFI’s repayment terms and protections could also make it attractive for students and families, says Kevin James, CEO of Better Future Forward, a nonprofit that partners with college readiness programs to provide ISAs for students attending college.

Under a SFI, monthly payments don’t start unless one starts earning above $30,000, and payment obligations end upon bankruptcy, permanent disability or death, or after 20 years. Students can also defer up to 12 monthly payments for any reason.

“As people look at these options, I think the income-based protections are the most important aspect, not whether one beats the other to a slight degree in terms of cost,” says James.
More Than an ISA?

Today, more than 50 U.S. colleges offer income-share agreements to students. Most recently, Robert Morris University announced its students can take out up to $5,000 per year through its “Colonial Success Fund” ISA program.

Although SFI’s financing terms have similar repayment terms as most ISAs, Shoates prefers not to use that term. That’s because, he says, students who receive the funds are also eligible for other services, including technology and career development opportunities offered by SFI partners. They include companies in The Business Roundtable, an a*sociation of corporate executives, that have pledged to provide internship opportunities and discounted laptops and other devices to students. Others have committed to giving technology infrastructure support services to the schools that are part of the network.

The long-term goal, Shoates adds, is to extend the financial terms and other benefits across all colleges in the SFI network—not just HBCUs, but also other minority-serving institutions that could be part of the program in the future.

Providing student support services is critical to making any income-based repayment tool work, says James. Since fall 2017, Better Future Forward has provided ISAs to 162 college students who also participate in regional college-readiness programs, like One Million Degrees and College Possible, that provide mentoring and coaching services. About 90 percent of recipients are still in school or have graduated.

“These programs have to be powered by student outcomes and their ability to successfully transition into jobs,” says James. “Funding is not the only source of challenge, and we have to think about more than just money.”



+1   



Sign me up
 
 

yesterday...


most viewed right now
+19online now  33
May 27 - 19 officers playing on their phones while waiting for tactical gear a..
91 comments
22 hours ago
@news
most viewed right now
+17online now  32
Video inside The Ponzi Scheme Collapse in the Shoe Market
59 comments
1 day ago
@gear
most viewed right now
+86online now  21
Video inside Do not chase women!
154 comments
22 hours ago
@wild'ish
most viewed right now
online now  16
Image(s) inside This is the endgame of crypto
64 comments
1 day ago
@misc
back to top
register register Follow BX @ Twitter search BX privacyprivacy