hasbeen
Posts: 6,504
Jan 9, 2016 3:32pm
I would like to know how much an owner needs to buy and run a team.Ironman92;1774274 wrote:How much will I need to buy the Bengals?
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gut
Posts: 15,058
Jan 9, 2016 3:43pm
Winning Powerball isn't going to be nearly enough to buy a team after taxes, not even a majority share - you need something north of $1B just to buy a team, and probably another $1B to get approved as an owner to have the resources to provide stability for lean years, bonuses, etc..hasbeen;1774278 wrote:I would like to know how much an owner needs to buy and run a team.
If you want to buy a sports team, maybe NHL...otherwise you're looking at minor league soccer or CFL.
Ironman92
Posts: 49,363
Jan 9, 2016 7:49pm
Well fuck.gut;1774279 wrote:Winning Powerball isn't going to be nearly enough to buy a team after taxes, not even a majority share - you need something north of $1B just to buy a team, and probably another $1B to get approved as an owner to have the resources to provide stability for lean years, bonuses, etc..
If you want to buy a sports team, maybe NHL...otherwise you're looking at minor league soccer or CFL.
Reds value at $885,000,000
ernest_t_bass
Posts: 24,984
Jan 9, 2016 7:54pm
Why buy the Reds? Lifetime box seat would be much cheaper.
Ironman92
Posts: 49,363
Jan 9, 2016 8:06pm
The hell man? I can already afford tickets where I like to siternest_t_bass;1774336 wrote:Why buy the Reds? Lifetime box seat would be much cheaper.
HitsRus
Posts: 9,206
Jan 9, 2016 9:21pm
It won't be enough to buy a team...not even close. While the jackpot is $900 million, if you take the lump sum distribution you'll get about 1/2 of that....$450 million BEFORE taxes, which will reduce it again by half.
Ironman92
Posts: 49,363
Jan 9, 2016 9:48pm
Said $588,000,000 not $450 but this has been coveredHitsRus;1774367 wrote:It won't be enough to buy a team...not even close. While the jackpot is $900 million, if you take the lump sum distribution you'll get about 1/2 of that....$450 million BEFORE taxes, which will reduce it again by half.
ernest_t_bass
Posts: 24,984
Jan 9, 2016 10:30pm
So what is the breakdown of the $900 mill, though? Why is "lump" only half that, THEN they have to take taxes?
ernest_t_bass
Posts: 24,984
Jan 9, 2016 10:31pm
NM:
https://www.usamega.com/powerball-jackpot.asp
So, as I understand it, the $900kk is ONLY if you select the annuity?
https://www.usamega.com/powerball-jackpot.asp
So, as I understand it, the $900kk is ONLY if you select the annuity?
ts1227
Posts: 12,319
Jan 9, 2016 11:03pm
Final jackpot: $949,800,000
Numbers: 16, 19 , 32, 34, 57 PB 13
Numbers: 16, 19 , 32, 34, 57 PB 13
MontyBrunswick
Posts: 846
Jan 10, 2016 12:12am
yes. basically all lotteries work that way.ernest_t_bass;1774388 wrote: So, as I understand it, the $900kk is ONLY if you select the annuity?
you can take a lump sum, which is basically the pooled money from ticket sales minus the states cut OR
take the annuity, which basically gives you a set amount per year. after that first year is dispensed, the remainder of the lump gets tossed into mutual funds/bonds/etc and you are entitled to X amount per year until those funds are eventually depleted.
there's no "advantage" to choosing one over the other, they're just different forms of getting your money.
when taking the annuity, you also have to factor in inflation of the dollar. $1 today is worth more than $1 30 years from now when you'd be getting your last installment.
SportsAndLady
Posts: 35,632
Jan 10, 2016 12:31am
Damnit I lostts1227;1774415 wrote:Final jackpot: $949,800,000
Numbers: 16, 19 , 32, 34, 57 PB 13
Mulva
Posts: 13,650
Jan 10, 2016 12:34am
I made a dollar.
G
gut
Posts: 15,058
Jan 10, 2016 12:54am
It's generally thought you are better off taking the lump sum and investing. Interest rates would have to be pretty high to underperform investing, and the lower the interest rate the more you get upfront.MontyBrunswick;1774504 wrote: there's no "advantage" to choosing one over the other, they're just different forms of getting your money.
Although I think if you were going to be conservative and responsible, you'd take a good 7-8 years to fully invest. Maybe that points to payments. Boy would it be fun to spend a week doing that analysis!
ts1227
Posts: 12,319
Jan 10, 2016 1:37am
No winner per Powerball site, $1.3 Billion for Wed.
Lovejoy1984
Posts: 5,277
Jan 10, 2016 1:50am
I would expect it to be closer to 1.6 as it comes closer. Federal Govt about to get a nice chunk of change.
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gut
Posts: 15,058
Jan 10, 2016 1:51am
Damn....Hadn't even checked my tickets yet. Guess I didn't win!ts1227;1774532 wrote:No winner per Powerball site, $1.3 Billion for Wed.
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gut
Posts: 15,058
Jan 10, 2016 1:53am
Now that's tempting to take the payments. Will end-up $50M+ for 30 years. My god, I don't think I could spend that much money.HighRoller74;1774533 wrote:I would expect it to be closer to 1.6 as it comes closer. Federal Govt about to get a nice chunk of change.
F
friendfromlowry
Posts: 6,239
Jan 10, 2016 2:55am
My wife said we won $4, so two more tickets for next week. Or a shot of shitty liquor.
Rotinaj
Posts: 7,699
Jan 10, 2016 7:21am
You really think you'll win 2 draws in a row? Wow, what a shitty way to spend your winnings. You should find a better place to spend YOUR money.friendfromlowry;1774537 wrote:My wife said we won $4, so two more tickets for next week. Or a shot of shitty liquor.
Spock
Posts: 2,853
Jan 10, 2016 8:24am
holy cow........new jackpot estimated at $1300 million
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friendfromlowry
Posts: 6,239
Jan 10, 2016 8:45am
Spock;1774547 wrote:holy cow........new jackpot estimated at $1300 million
SMH.
HitsRus
Posts: 9,206
Jan 10, 2016 9:28am
Lump sum payment stated to be $830 million.
ernest_t_bass
Posts: 24,984
Jan 10, 2016 9:36am
LOL... who gives a shit.HighRoller74;1774533 wrote:I would expect it to be closer to 1.6 as it comes closer. Federal Govt about to get a nice chunk of change.
Heretic
Posts: 18,820
Jan 10, 2016 11:02am
I exceeded expectations and actually had one number on my two tickets. And that's the closest I'll ever be to being a champion.