Fanatics gobbles up PWCC

[fabiani12333]

Originally Posted by xbignick

It would be great if Fanatics actually was trying to clean up the hobby instead of just trying to dominate it. It was only a matter of time before Rubin replaced Huigens with his own guy. Huigens wasn't the only person at PWCC involved in shady practices, to be sure.

[CaptSpaulding]

Originally Posted by fabiani12333

It would be great if Fanatics actually was trying to clean up the hobby instead of just trying to dominate it. It was only a matter of time before Rubin replaced Huigens with his own guy. Huigens wasn't the only person at PWCC involved in shady practices, to be sure.

Exactly. Was more than one bad actor at PWCC. Was told Fanatics offered him 350 million for the company around a year ago and Brentsy rejected the offer only to end up having to sell to Fanatics for $1, some undisclosed equity position and a few hundred K annual salary.

Last thing we should conclude is that Fanatics is trying to clean up the hobby. I assume the exit was for another reason.

See ya later Brentsy. Too bad this kind of ending is not going to happen to more like him. Would be wrong to again not acknowledge BODA for their effort. They had to have had a hand in this eventual outcome. Super Dan, 312 and Corndog...HUGE thanks for all the work you did.

[MoreToppsPlease]

Originally Posted by xbignick

Fanatics hobby shakeup is getting into high gear. Now to dump the PWCC name.

Unfortunately hobby scum almost never completely disappear from the hobby…too much opportunity.

[SpartanWarrior]

Originally Posted by MoreToppsPlease

Fanatics hobby shakeup is getting into high gear. Now to dump the PWCC name.

Unfortunately hobby scum almost never completely disappear from the hobby…too much opportunity.

+1

Lets hope he is the exception and he's found working at a Best Buy in 5 years.

[Scottish Punk]

Originally Posted by CaptSpaulding

Exactly. Was more than one bad actor at PWCC. Was told Fanatics offered him 350 million for the company around a year ago and Brentsy rejected the offer only to end up having to sell to Fanatics for $1, some undisclosed equity position and a few hundred K annual salary.

Last thing we should conclude is that Fanatics is trying to clean up the hobby. I assume the exit was for another reason.

See ya later Brentsy. Too bad this kind of ending is not going to happen to more like him. Would be wrong to again not acknowledge BODA for their effort. They had to have had a hand in this eventual outcome. Super Dan, 312 and Corndog...HUGE thanks for all the work you did.

This is part of the rebranding. Makes perfect sense. Clear out the big names at the top, declare new ownership, new culture ,etc. Keep the brand equity that is PWCC and now you can start with a semi-new slate.

[CaptSpaulding]

Originally Posted by Scottish Punk

This is part of the rebranding. Makes perfect sense. Clear out the big names at the top, declare new ownership, new culture ,etc. Keep the brand equity that is PWCC and now you can start with a semi-new slate.

Had Brentsy not started lending 175 million in a declining market against shiny cards that people with too much money spent way too much money on, Fanatatics never would have been able to buy the company. They will not have to do too much rebranding to maximize the platform.

[auburn35]

Originally Posted by CaptSpaulding

Exactly. Was more than one bad actor at PWCC. Was told Fanatics offered him 350 million for the company around a year ago and Brentsy rejected the offer only to end up having to sell to Fanatics for $1, some undisclosed equity position and a few hundred K annual salary.

Last thing we should conclude is that Fanatics is trying to clean up the hobby. I assume the exit was for another reason.

See ya later Brentsy. Too bad this kind of ending is not going to happen to more like him. Would be wrong to again not acknowledge BODA for their effort. They had to have had a hand in this eventual outcome. Super Dan, 312 and Corndog...HUGE thanks for all the work you did.

Maybe the same sources but a couple Net54 members are reporting similar details on the acquisition. Would love to know to full details of the purchase and removal of Brent but either way, happy hear Brent is on the way out. Hopefully for good.

[CaptSpaulding]

Originally Posted by auburn35

Maybe the same sources but a couple Net54 members are reporting similar details on the acquisition. Would love to know to full details of the purchase and removal of Brent but either way, happy hear Brent is on the way out. Hopefully for good.

The info I have is from a very reliable source and someone I have known a very long time in the hobby and he claims to have had first hand info. He has yet to have mislead me. The info I have from him was from a couple of weeks ago and I have no info on Brentsy's exit and the impact that had on his agreement with Fanatics.

[Cards and 401K]

Great can’t wait to use the Oregon co again in the future


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[fabiani12333]

Originally Posted by CaptSpaulding

Exactly. Was more than one bad actor at PWCC. Was told Fanatics offered him 350 million for the company around a year ago and Brentsy rejected the offer only to end up having to sell to Fanatics for $1, some undisclosed equity position and a few hundred K annual salary.

Last thing we should conclude is that Fanatics is trying to clean up the hobby. I assume the exit was for another reason.

See ya later Brentsy. Too bad this kind of ending is not going to happen to more like him. Would be wrong to again not acknowledge BODA for their effort. They had to have had a hand in this eventual outcome. Super Dan, 312 and Corndog...HUGE thanks for all the work you did.

That's interesting -- thanks for sharing. I'm guessing PWCC was neck deep in debt and liabilities, which explains the $1 purchase price

[CaptSpaulding]

Originally Posted by fabiani12333

That's interesting -- thanks for sharing. I'm guessing PWCC was neck deep in debt and liabilities, which explains the $1 purchase price

No clue how much of the 175 million capital that was provided for him to lend vaulters against their shiny cards but he was not even able to service the debt, let alone pay it back. Fanatics either paid off Whitehawk or got them to take equity but bottom line is that Brentsy collapsed his empire in less than 9 months.

He was offered a cushy position there for a solid salary but very very far from the ridiculous 350 million he rejected by the same company a year earlier. Brentsy's stupidity and greed provided Fanatic's with one of the best deals they could ever have made.

It has to have been a rough few years for him...being under Federal investigation and that hanging over your head to losing something he put his entire soul into...oh wait...energy is a better word.

[Rooftop]

Hope he rots

[3124508 on COMC]

What about Betsy and “Salt of the Earth” Jesse Craig?

[NYRE2PECT]

Cleaning up the hobby!?

To quote Bad Cop from The Lego Movie, "You see the quotations I'm making with my claw hands? It means I don't believe you."

I guess we can only hope that it gets a little less scummy...but I think it would require more of a complete staff replacement to take away the smell/essence/culture of corruption.

[dabbadoo]

Originally Posted by CaptSpaulding

Was told Fanatics offered him 350 million for the company around a year ago and Brentsy rejected the offer only to end up having to sell to Fanatics for $1, some undisclosed equity position and a few hundred K annual salary.

Wow, are these real numbers? both seem really extreme

[CaptSpaulding]

Originally Posted by dabbadoo

Wow, are these real numbers? both seem really extreme

Brent apparently had a valuation on his business a year ago of around 1 billion. I have no details of that valuation but Brent was so caught up in his own BS that he likely believed PWCC was worth 1 billion so no way he would sell for a meager 350 million. The $1, equity and a job is what he got from Fanatics. When ya get to walk away from defaulting on 175 million debt I would say that is a solid pay day. Living to fight another day is great compensation.

[dabbadoo]

wow. just mind boggling

[Bcwcardz]

Fanatics cleaning up the hobby alright with people like this representing them. Lol. F$$k off.


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[msucollector4]

Originally Posted by Bcwcardz

Fanatics cleaning up the hobby alright with people like this representing them. Lol. F$$k off.


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A TESLA!!!!!!

[towerymt]

I assume he'll just start another Michael Scott Paper Company. And when you buy that one, I'll start another one.

[larry25]

The thread is funny! Not sure who stinks worse, the dudes in the half shirts, or all the holier than thous on here, posturing like they really know other people's business, and wishing death and destruction on other human beings for messing with little squares of cardboard with pictures of men printed on them.

[Rucchin]

Originally Posted by CaptSpaulding

No clue how much of the 175 million capital that was provided for him to lend vaulters against their shiny cards but he was not even able to service the debt, let alone pay it back. Fanatics either paid off Whitehawk or got them to take equity but bottom line is that Brentsy collapsed his empire in less than 9 months.

He was offered a cushy position there for a solid salary but very very far from the ridiculous 350 million he rejected by the same company a year earlier. Brentsy's stupidity and greed provided Fanatic's with one of the best deals they could ever have made.

It has to have been a rough few years for him...being under Federal investigation and that hanging over your head to losing something he put his entire soul into...oh wait...energy is a better word.

The Fed investigation is still ongoing?

[5CentWaxPack]

Sounds like Brent has at least one fanboi here who seems to love altered cards. Takes a pretty twisted mind to condemn others who oppose fraud but hey that is what makes workplace shootings an actual thing.

[cholodolo]

Originally Posted by larry25

The thread is funny! Not sure who stinks worse, the dudes in the half shirts, or all the holier than thous on here, posturing like they really know other people's business, and wishing death and destruction on other human beings for messing with little squares of cardboard with pictures of men printed on them.

Ah, yes, the holier than thous not under Federal Investigation.

[auburn35]

Originally Posted by 3124508 on COMC

What about Betsy and “Salt of the Earth” Jesse Craig?

Good question and will be interesting to watch, as Fanatics takes over.