The estate of late oilman Aubrey McClendon is seeking to sell its 22% stake in the Oklahoma City Thunder, an NBA franchise valued by Forbes at around $1.5 billion, per Bloomberg.
Why it matters: Because this comes just as the Thunder traded away its most valuable asset, former league MVP Russell Westbrook. Can't imagine that move went over too well at Inner Circle Sports, the boutique investment bank managing the sale.
- The bottom line:
"It’s difficult to pinpoint a value for McClendon’s stake, which comes with voting rights but few other perks, according to sources. There’s no representation on the board or decision-making authority. In such cases, buyers will often seek to apply what’s called an LP discount... Such discounts usually range from 10% to 20%."— Scott Soshnick, Bloomberg