OC Register: Warriors owner Joe Lacob confirms he’s considering bid for Angels

[Hubs]

2 hours ago, DCAngelsFan said:

I like that he's got a track record of business-building and especially, building a successful sports franchise.  Running a baseball team isn't the same as selling billboards

But I can't help but be a little miffed that the Angels are his 3rd choice - at best - and that his connection doesn't sound like it's to the Angels, just that he had a job as a peanut vendor at the stadium. 

Owners as fans are among the worst owners. 

But geez, can't he sound even a little enthused?  

(That said, he sounds miles better than PSS, and if he wins the bidding, his "enthusiasm" will be apparent)

I think he's playing it cool, speaking to a member of the SF media. Also, he grew up one mile from Angels Stadium, so he was presumably a fan. 

From Wikipedia

Lacob grew up in a Jewish family^[4] in New Bedford, Massachusetts. The Lacob family relocated to Anaheim, California and Joe switched his allegiance to the Los Angeles Lakers and the Los Angeles Angels.^[5][6]

Lacob earned a bachelor's degree in biological sciences from University of California, Irvine in 1978, master's degree in public health (epidemiology) from University of California, Los Angeles (UCLA) and an MBA from the Stanford Graduate School of Business.^[7]

And from an old OC register article from 2008

Orange County boy returns to area as part owner of Celtics

Marcia C. SmithJune 12, 2008 at 3:00 a.m.

 

LOCAL ROOTS:Celtics co-owner Joe Lacob watches the action courtside Tuesday. Lacob is a Katella High and UCI graduate who sold peanuts at Angels games when he lived in Orange County.

LOS ANGELES — The teenager who used to hock peanuts at Angel Stadium just to be close to his favorite baseball team grew up to own a piece of the Boston Celtics, the basketball team he also loved as a child.

Joe Lacob, still as slight and as sandy-haired as his Katella High teachers remembered him from the 1970s, had a courtside seat at Staples Center during the NBA Finals. He sat across from the Lakers bench, shared a sideline with film maker Steven Spielberg, and was closest to the baseline anchored by director Spike Lee.

Unlike the others around him, Lacob roots for the visitors. Over his crisply starched, long-sleeved shirt fastened at the wrists with gold cufflinks, he wore a baggy white T-shirt bearing “Gotta Beat LA” in Celtics green. 

“Too bad I won’t be here for Game 4,” said Lacob on Tuesday while walking into the roped-off, VIP-only Chairman’s Room during halftime of the Lakers’ Game 3 victory. “I’m going to Africa. Vacation with the family. So I’ll have to check in.”

 

Think Africa is far? Consider how far Lacob has come, from peanut guy to venture capitalist and Celtics co-owner.

“Really? Joe Lacob? No kidding,” said Robert McMahon, Lacob’s former science teacher at Katella High, where Lacob was a 1974 graduate. “That’s great.” 

McMahon, 79, of Anaheim backed his car out of his garage Thursday and dug through the yearbooks he squirreled away during his 25-year teaching career. 

“I remember him,” said McMahon, who retired in 1991. “He was a really good student. He wanted to go into medicine, and he played on the tennis team for three years. Now he owns part of the Celtics? My goodness.”

As a Harvard student in the late 1950s and early 1960s, McMahon followed the Celtics. He recalled the power of Bill Russell, the playmaking of Bob Cousy and the dynasty that included a record eight consecutive NBA titles.

 

Around the same time, Lacob, who now lives in Atherton, was a young boy living in the Boston suburb of New Bedford. He was born a Celtics fan, a product of his geography and the hold the storied franchise had on the region.

“They were the first team I followed, and they had so many great players,” Lacob said. “But my family moved to Anaheim when I was 14, and I became a big fan of the Lakers …and started following the Angels.”

Those were the Angels of Jim Fregosi, Sandy Alomar and Nolan Ryan. And Lacob would hurry through his schoolwork and tennis practice to race to the ballpark for the night games.

For six years, through high school and into his college years at UC Irvine, where he earned a degree in biological sciences, Lacob spent Angels game nights running through the stadium aisles, taking bucks and tossing packs of roasted peanuts to fans.

He worked seven years in Fountain Valley before going to UCLA, where he earned a master’s degree in public health. He received his MBA from the Stanford Graduate School of Business and became a partner at the Menlo Park-based venture capital firm, Kleiner Perkins Caufield & Byers in 1987.

Now a senior partner, Lacob heads the firm’s medical technology practice, a portfolio that includes more than 30 therapeutic and diagnostic medical device companies. 

He’s skilled at finding businesses, often fledgling startups with great potential for profit, and directing millions of dollars at their development. He has a talent for finding the right investment.

He never dreamed that he would one day invest in his beloved basketball team that had fallen far from the heyday he knew as a child.

But in January 2006, the Celtics announced that Lacob had bought into the team’s ownership group, contributing the third-most money for the franchise that would post a lot more losses before its most recent gains.

The Celtics were 33-49 in 2005-06 and an embarrassing 24-58 last season before they acquired All-Star Kevin Garnett to engineer the franchise renaissance.

“I grew up with a lot of favorite Celtics players, but right now Garnett is my favorite,” said Lacob, who is a member of the Celtics board of directors. “I can’t believe that we’re in the NBA Finals.”

His youthful eyes filled with boyhood wonder as he moved through the celebrity crowd in his wingtips Tuesday. Then he stopped quickly, whispering and starstruck, “It’s Hugh Hefner” at the sight of the Playboy magazine mogul strolling by with buxom blondes as bookends.

A rookie on the NBA celebrity scene, Lacob laughed and said, “I’ve got to get back to see my team.”

Really, the kid who used to hock peanuts at Angels games can truly call the Celtics his.

Contact the writer: masmith@ocregister.com

[Hubs]

And as for politics, it's made me sick that my favorite teams owner is a supporter of some of the worst politicians in the past century...so maybe you "conservatives" will still support the team if a "liberal" buys the team as I have done, basically ignoring the political side....Honestly the two should just not mix.

@Chuck and I are good friends and disagree about almost everything political and we hate each others favorite football teams, but we're still friends.

Politics is not an end all be all. And it's not a religion. 

[Dtwncbad]

20 minutes ago, UndertheHalo said:

<jack off emoji> 

Glad you liked it.  Did you snap once or twice reading it?

[Angel Oracle]

I can see where Lacob’s basketball fandom likely started.    Katella HS was a power in HS basketball in the 1970s under Tom Danley, perennial CIF contender.

As a Tustin HS grad whose HS was in the same league back then, I saw  some great games between the two.

Ironic that Lacob and I are both class of 1974 HS grads

Edited January 6, 2023 by Angel Oracle

[Angel Oracle]

19 minutes ago, Hubs said:

And as for politics, it's made me sick that my favorite teams owner is a supporter of some of the worst politicians in the past century...so maybe you "conservatives" will still support the team if a "liberal" buys the team as I have done, basically ignoring the political side....Honestly the two should just not mix.

@Chuck and I are good friends and disagree about almost everything political and we hate each others favorite football teams, but we're still friends.

Politics is not an end all be all. And it's not a religion. 

Agreed, but in PSS’s case, he and his daughter seem to be the grandstanding types, something Arte isn’t and Lacob isn’t.

[UndertheHalo]

16 minutes ago, Dtwncbad said:

Glad you liked it.  Did you snap once or twice reading it?

Dawg you’re the one that’s on this website fretting about what flavor of bullshit the new billionaire might put on the big screen in the outfield for 1 to 2 minutes.  If you really don’t care about tHe PoLiTiCs then stfu about it.  

Edited January 6, 2023 by UndertheHalo

[Ace-Of-Diamonds]

 He isn't rich enough to buy the team. 

[Angel Oracle]

2 minutes ago, Ace-Of-Diamonds said:

 He isn't rich enough to buy the team. 

That does jump to $3 billion when including Peter Guber.

Still need at least $2-3 billion more to have a viable ownership group.

[Warfarin]

9 minutes ago, Ace-Of-Diamonds said:

 He isn't rich enough to buy the team. 

He himself isn't, but he has a team of investors.  I am guessing he will assemble a group that will be able to bid the requisite 2.5-3 billion that will be required.  

[Dtwncbad]

21 minutes ago, UndertheHalo said:

Dawg you’re the one that’s on this website fretting about what flavor of bullshit the new billionaire might put on the big screen in the outfield for 1 to 2 minutes.  If you really don’t care about tHe PoLiTiCs then stfu about it.  

Actually you are the one that basically complained  about my observation.

If my (very hard to argue) observation about Steve Kerr being overtly political at every opportunity bothers you, then the only place for “stfu” is in your face, “Dawg.”

Grow up.

 

[TempeAngel]

32 minutes ago, Angel Oracle said:

Agreed, but in PSS’s case, he and his daughter seem to be the grandstanding types, something Arte isn’t and Lacob isn’t.

I think the difference is Arte and PSS both get in the way, they meddle. Lacob doesn't, not with the Warriors.

[T.G.]

45 minutes ago, Angel Oracle said:

Ironic that Lacob and I are both class of 1974 HS grads

And... Lacob became a peanut vendor and you became a "clean peanut" seeker.

[Dtwncbad]

1 hour ago, Hubs said:

And as for politics, it's made me sick that my favorite teams owner is a supporter of some of the worst politicians in the past century...so maybe you "conservatives" will still support the team if a "liberal" buys the team as I have done, basically ignoring the political side....Honestly the two should just not mix.

@Chuck and I are good friends and disagree about almost everything political and we hate each others favorite football teams, but we're still friends.

Politics is not an end all be all. And it's not a religion. 

I would 100% support the Angels regardless of the personal politics of the new owner.  It would only bother me if the owner was using (or tolerating others to use) the baseball franchise as a mouthpiece for their political views that have nothing to do with baseball.

Edited January 6, 2023 by Dtwncbad

[Dtwncbad]

51 minutes ago, Angel Oracle said:

Ironic that Lacob and I are both class of 1974 HS grads

 

[UndertheHalo]

25 minutes ago, Dtwncbad said:

Actually you are the one that basically complained  about my observation.

If my (very hard to argue) observation about Steve Kerr being overtly political at every opportunity bothers you, then the only place for “stfu” is in your face, “Dawg.”

Grow up.

 

Lol.  All you people are the biggest babies on earth.  Truly im looking forward to all your soon to come tantrums.  

[Dtwncbad]

3 minutes ago, UndertheHalo said:

Lol.  All you people are the biggest babies on earth.  Truly im looking forward to all your soon to come tantrums.  

You have absolutely fantasized something, and that makes it impossible to discuss rationally.

Nothing I said was being a “baby” despite you being sure it’s there.

And the irony (actual meaning of the word) is that is very immature because it means you are a slave to your own emotions, just like a child.

Sometimes there is value in repeating things.

Grow up.

[Hubs]

1 hour ago, Ace-Of-Diamonds said:

 He isn't rich enough to buy the team. 

Apparently you haven't read any of the posts I've said about Net Worth. Here's a short recap.

There are only 400 or 500 something people in the world that have a higher net worth. He won't buy the team solo, he owns 35% of the 7 Billion dollar Warriors, so that's more than the net worth you listed, by itself. You don't know anything about his liquidity or assets used to purchase a team. I don't either. 

The richest owner in baseball is Cohen, at 17.5 Billion, the next are Ted Lerner and family at $6, the various Dodgers owners like Mark Walter, and Todd Boehly at 5-6 Billion, and Johnson who owns the Giants at around the same.

 

 

[Hubs]

1 hour ago, Warfarin said:

He himself isn't, but he has a team of investors.  I am guessing he will assemble a group that will be able to bid the requisite 2.5-3 billion that will be required.  

I think he's worth more than Forbes estimates, simply based on the Warriors value, and his reported ownership stake. That and I think the team will sell for more than Warfarin says here.  It will be sold for over $3B, maybe closing in on $4B. This is based on what the Dodgers sold for in 2012 and are now worth, plus what the Suns and Broncos recently sold for.

Not a lot of people will have the net worth for that type of purchase, and most already own a sports team or have no interest in it. Musk and Gates for instance, do not seem like Sports fans. 

 

Edited January 6, 2023 by Hubs

[Dtwncbad]

8 minutes ago, Hubs said:

I think he's worth more than Forbes estimates, simply based on the Warriors value, and his reported ownership stake. That and I think the team will sell for more than Warfarin says here.  It will be sold for over $3B, maybe closing in on $4B. This is based on what the Dodgers sold for in 2012 and are now worth, plus what the Suns and Broncos recently sold for.

Not a lot of people will have the net worth for that type of purchase, and most already own a sports team or have no interest in it. Musk and Gates for instance, do not seem like Sports fans. 

 

He doesn’t need to have the personal liquid net worth to write a $3 billion check.

What they need is a group of investors that has a cumulative balance sheet that is stable enough to operate the team properly.

There is no reason to believe Lacob can’t be the primary guy in such a group.

[DCAngelsFan]

3 minutes ago, Dtwncbad said:

He doesn’t need to have the personal liquid net worth to write a $3 billion check.

What they need is a group of investors that has a cumulative balance sheet that is stable enough to operate the team properly.

There is no reason to believe Lacob can’t be the primary guy in such a group.

And those investing that kind of money will certainly want confidence that the person running things (as owner) will protect their investment by increasing the value of the club (as well as dividends paid.)

This is may be where PSS will fall short - both investors and the other owners will want assurances that the club will be run well, is competitive and without controversy that hurts baseball in general - so, not a McCourt or Loria. 

PSS doesn't have the sports background and if I have $100m burning a hole in my pocket, I'm calling Lacob to try and get on his team.  

I expect PSS' bidding group to be a clown car of minority interests, as he tries to check every interest checkbox by including 2 dozen reps from money, celebrities, Hollywood, sports, baseball bobblehead, media (old and new), and DEI categories.  

[tdawg87]

Lacob seems like the best option. It would actually be a funny "full circle" thing with regards to Ohtani, as I believe Eppler referred to Ohtani and Trout as "Kevin Durant and Steph Curry" during his pitch to him. 

That means absolutely nothing, but having an owner with experience at winning championships may be the best thing for the organization.

[AngelsLakersFan]

10 hours ago, Dtwncbad said:

I am not trying to stir anything up here but the reality is we as Angel fans have enjoyed a reliable separation of sports and politics under Moreno.

Yes we know he is conservative, but he doesn’t foster a culture where that political stance is omnipresent and openly displayed.

Joe Lacob either endorses or at a minimum has no issue with Steve Kerr being very openly political, arguably at an obnoxious level.

My contained point is if we all like to keep politics on the side as much  as possible, are we excited about a prospective owner that evidently doesn’t have that boundary for key organizational people who are the microphone every day?

None of this post should be construed as initiating a political conversation that belongs elsewhere.

I’m just saying if we like our baseball kept separate from politics, should we at least consider taking a hard look at if we would like or dislike a somewhat openly political culture similar to the team already owned by Lacob?

I think it’s a fair question.  And I would expect people to be able to comment on this without it turning into a discussion about actual political topics.

 

I don’t want to psycho analyze but if the first place your mind goes when the topic of a new baseball owner comes up is “hopefully they don’t ruin my enjoyment of the product by sprinkling in a woke message” then you might have some issues.

Also, as if Arte Moreno was completely devoid of politics and a symbol of great baseball ownership…

[Dtwncbad]

20 minutes ago, DCAngelsFan said:

And those investing that kind of money will certainly want confidence that the person running things (as owner) will protect their investment by increasing the value of the club (as well as dividends paid.)

This is may be where PSS will fall short - both investors and the other owners will want assurances that the club will be run well, is competitive and without controversy that hurts baseball in general - so, not a McCourt or Loria. 

PSS doesn't have the sports background and if I have $100m burning a hole in my pocket, I'm calling Lacob to try and get on his team.  

I expect PSS' bidding group to be a clown car of minority interests, as he tries to check every interest checkbox by including 2 dozen reps from money, celebrities, Hollywood, sports, baseball bobblehead, media (old and new), and DEI categories.  

Yeah I am kind of with you on this.  None of us really know what kind of an owner PSS would actually be, but it sure would be a lot more comfortable if the incoming owner had some sports or sports ownership history behind them.

Or if the big money source or sources don’t have that experience, I really would like to see a strategic front man like Theo Epstein.

Imagine both!  If we found out the new owner is 50% Lacob, 40% other private investors and 10% Theo Epstein, I would be pretty jacked.

Edited January 6, 2023 by Dtwncbad

[Dtwncbad]

2 minutes ago, AngelsLakersFan said:

I don’t want to psycho analyze but if the first place your mind goes when the topic of a new baseball owner comes up is “hopefully they don’t ruin my enjoyment of the product by sprinkling in a woke message” then you might have some issues.

Also, as if Arte Moreno was completely devoid of politics and a symbol of great baseball ownership…

You are entitled to that analysis.  But I think it’s not an out-of-bounds concern if you are paying attention to what is happening across the board in our society.  Politics is contaminating almost everything nowadays in a toxic way.  Polarizing.  So much anger.

I am not going to apologize for hoping I can watch my favorite baseball team without politics getting shoved in my face.

Admitedly I don’t follow the warriors.  I’m not an nba guy.  But I am quite aware of Steve Kerr.  Why is that?  It is because he is so openly political that his face and videos of him waxing about stuff is all over the place.

With the warriors owner now a possible new owner of the Angels, do you really think it’s peculiar for it to cross my mind that I don’t want an Angel manager lecturing me about politics?

 

 

[tdawg87]

I'm just going to say, and this is not directed at anyone in particular, that the people who say the most that "I don't want politics shoved in my face" are the ones who bring up politics the most.