More on "Pac-12 NewCo"

[dgibbons]

It's the equivalent of a pipe dream written on a napkin. Drawn up so Scott can deflect scrutiny by pointing to a decoy.

https://www.oregonlive.com/sports/j...probing-questions-but-offers-few-answers.html

 

[Loyal Coug]

It's the equivalent of a pipe dream written on a napkin. Drawn up so Scott can deflect scrutiny by pointing to a decoy.

https://www.oregonlive.com/sports/j...probing-questions-but-offers-few-answers.html

Regardless of what folks might think of Canzano in general, he has been a dog on a bone with the Pac-12 offices and Larry Scott in particular and should be applauded for it. A voice in the wilderness might also fit, since he seems to be the only journalist that is really on this particular bone - although other media outlets do refer to his articles.

As I think I opined in some previous thread, the Pac-12 Presidents should commission a full review/audit of the Pac-12 offices. I see they have started a review of the officiating, but that is just part of it. Beyond the "where we are now", seems like the focus should be "how do we dig out of it". When do leases, contracts expire, etc.

 

[dgibbons]

Regardless of what folks might think of Canzano in general, he has been a dog on a bone with the Pac-12 offices and Larry Scott in particular and should be applauded for it. A voice in the wilderness might also fit, since he seems to be the only journalist that is really on this particular bone - although other media outlets do refer to his articles.

As I think I opined in some previous thread, the Pac-12 Presidents should commission a full review/audit of the Pac-12 offices. I see they have started a review of the officiating, but that is just part of it. Beyond the "where we are now", seems like the focus should be "how do we dig out of it". When do leases, contracts expire, etc.

There will be no independent review of the books because this private equity investor crap is exactly that- crap. It’s not genuine. It’s a ploy by Scott to take some heat off himself.

 

[metprof]

If a good M&A firm gets involved Larry's little fiefdom HQ goes bye bye. They'll have him moving to a trailer park in Hayward.

 

[dgibbons]

If a good M&A firm gets involved Larry's little fiefdom HQ goes bye bye. They'll have him moving to a trailer park in Hayward.

And if the valuation is even close, the CEOs will have dollar signs in their eyes and Larry gets a golden parachute.

 

[Observer11]

Gonna be a tough sell to Private Equity guys. Should have gone down this route before bleeding red ink. The price of capital to clean up someone else's mess and take care of big liabilities like Larry Scott's contract is waaaay more expensive than early round money.

My prediction is they may get the $500 Million - but the Pac-12 will give up far more than 10%. Guessing more in the 30 to 40% range and Larry, Woody and his boys go bye bye for pennies on the dollar of what their contracts stipulate.

 

[425cougfan]

If they're going to give up equity, they may as well do it with a network partner where they could receive some other benefits of that (e.g., better distribution (perhaps), increased cross-promotion, etc.). I agree the PE investment angle is just Larry blowing smoke, but if it really did exist, you guys are right that they'd diligence the living hell out of the network's financials and really put the screws to it in negotiations.

 

[ttowncoug]

I have too said they need to partner with someone. Glad to hear others are seeing this as well.

As for the comment about otthers refusing to partner with us, I see it like this: the networks want to call the shots on program, expenses, etc. Scott thought he was establishing a new network that would be more successful that it is.

At the end of the day, its not working, he needs to go.

The pac-12 CEOs are also somewhat clueless on how to run a media company so its the blind leading the blind.

 

[cr8zyncalif]

Gib, I've seen some pretty good contracts start on the back of a pizza napkin. These days I either use a wide point rollerball pen or a fine tip Sharpie. A buddy was involved in throwing out some job files from 1981 and found one of those pizza napkins with my name (among others) in the lower right corner, next to the tomato sauce stain. It was my first (along with 2 other new guys) and the whole group laughed about memorializing the napkin. I had forgotten all about it; your comment brought it to mind.

Now, whether Larry Scott is capable of doing something like this is another story. Yet to be seen...which with as long as he has had in the office, pretty much answers the question...

 

[dgibbons]

Gib, I've seen some pretty good contracts start on the back of a pizza napkin. These days I either use a wide point rollerball pen or a fine tip Sharpie. A buddy was involved in throwing out some job files from 1981 and found one of those pizza napkins with my name (among others) in the lower right corner, next to the tomato sauce stain. It was my first (along with 2 other new guys) and the whole group laughed about memorializing the napkin. I had forgotten all about it; your comment brought it to mind.

Now, whether Larry Scott is capable of doing something like this is another story. Yet to be seen...which with as long as he has had in the office, pretty much answers the question...

Were those contracts a reaction to criticism of the company’s leadership?

 

[ttowncoug]

Like the article stated, Larry's he's running a media company. He came from the Tennis Network.

Strategically, without Larry, the Pac-12 needs to say: do we want to own a media company, or outsource it?

Larry has a huge conflict of interest and needs to not be included in that.