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Creditors Hate Christian Laettner

Discussion in 'Sports and News' started by LongTimeListener, Jul 7, 2016.

  1. LongTimeListener

    LongTimeListener Well-Known Member

  2. justgladtobehere

    justgladtobehere Active Member

    They really need to teach finance to the Duke basketball players.
     
  3. doctorquant

    doctorquant Well-Known Member

    Before I click the link, I am wagering $10 (but am taking no action from anyone) that the phrase "limited partnership" appears somewhere in that story.

    EDIT: Oh well, I owe myself $10. Usually you read about these professional athletes getting mixed up in limited partnerships that turn out to not be so limited. That's what happened to Mark Brunell, I think.
     
  4. LongTimeListener

    LongTimeListener Well-Known Member

    Does this combo validate your bet?

    The creditors and the amounts they say they are owed are:

    _National Servicing & Administration, a limited liability corporation based in Minnesota, where Laettner played for the Timberwolves in the NBA: $7,321,230

    ...

    The three-phase project was developed by a partnership that was led by Laettner, his former Duke teammate Brian Davis, and Tom Niemann, a Duke business school graduate.
     
  5. doctorquant

    doctorquant Well-Known Member

    Maybe, maybe not. Can't tell whether Laettner was, or thought he was, the limited partner or not.

    The athletes I was thinking of, usually they go in thinking they're limited partners but then find out they're not nearly as limited as they thought. Like, maybe, they signed on to be $25M limited partners but were required to pony up only $5M only to later profess shock that they're still on the hook for $20M. Then there are those limited partnerships that, surprise, surprise, surprise, turn out to NOT be limited partnerships.
     
  6. franticscribe

    franticscribe Well-Known Member

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