On This Super Bowl Sunday Edition, the gang will discuss the rumors of the financial losses of PBC and if they are in serious trouble or not?Waddell & Reed's Investment in Haymon: $82 mil. Remaining (of $521 mil.) as of December 31, 2015, self.Boxing
submitted 9 days ago * by jimwilson128
Building off of my last post of the Q3 results from the mutual funds managed by Waddell & Reed that invested in Haymon:
Acquisition cost (initial value) of combined investment: $528,481,000
Value of combined investment as of September 30, 2015: $214,288,000
Value of combined investment as of December 31, 2015: $82,354,000
To date, the investment made into Media Group Holdings, Series H (which invested in Haymon Boxing) by the three Waddell & Reed funds (Ivy Asset Strategy, Ivy VIP Asset Strategy, Waddell & Reed Advisors Asset Strategy) has lost 84% of its value. At this rate, the investment will be worth zero dollars by the end of February, which implies that Haymon will run out of funding at that time.
Edit: Headline contains a typo. Should say $528 mil.
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