Cheap Seats is a bit surprised that the former speaker of the House hasn’t figured out a way to funnel some federal largesse into the pockets of the owner of the Sacramento Mountain Lions.
The Mountain Lions of the United Football League are owned by Paul Pelosi. Yes, that Paul Pelosi, the lesser known half of Nancy Pelosi, and the owner of Financial Leasing Services, Inc., a San Francisco-based real estate and venture capital investment and consulting venture.
Financial Leasing Services is still in business but the Mountain Lions are no longer on the prowl. Pelosi closed down the team last October, in midseason, along with three other teams. He told the Sacramento Bee that he hoped to revive the franchise, but that he needs to eliminate some costs, liquidate assets or find more money to get the doors back open.
“I blew my liquidity on last year’s activities,” Pelosi said. He promised to make good on debt, including unpaid coaches and vendors.
“I’m committed to pay them, and they will be paid,” Pelosi added.
Sounds a bit to Cheap Seats a bit like the way Ma Pelosi sold the bill of goods now known as Obamacare, but wait, there’s more.
The Mountain Lions are being sued for back payments by the likes of head coach Dennis Green (wait for it,) who said he’s owed $1 million plus. Four other coaches filed suit last week: Rick Courtright; Chuck Bresnahan, who once coached with the Raiders; Fabien Bownes; and Kerry Locklin. That suit seeks more than $200,000.
The coaches said in the suit that Pelosi lured them in by claiming the team “was in excellent financial condition.”
More hollow echoes of Obamacare.
Cheap Seats actually admires Pa Pelosi’s willingness to take a business risk, but really, shouldn’t he do it with his money (some $50 million)?
And as for Coach Green, dude, the Pelosi’s are exactly who we thought they were. Don’t let ‘em off the hook.