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Old 05-22-2013, 01:58 PM
Lip Man 1 Lip Man 1 is offline
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Join Date: Dec 2001
Location: Chubbuck, Idaho
Posts: 32,357


Again I've been told by sources that it's in his deal as the day to day person who runs the team, he can not be removed unless it is for doing things like illegal activities, demonstrating that he is no longer mentally sound, standard things like that.

Basically he can not be ousted unless he demonstrates that he is doing something specifically outlined in his deal.

Take it for whatever that's worth.

I can't speak from a legal standpoint but to me, if you own say 22% out of 100 and the next highest person only owns say 15% that by definition makes you 'majority owner' based on the fact that you own the most of the club.

I agree that may not mean he can do anything he wants however it has been shown and again it's in his deal, that he runs the day to day operations and he does not have to consult with the other owners or the board when doing so. (That doesn't mean that he doesn't at least allow them the courtesy of making his intentions known to them ahead of time and I suspect he probably does do this...)

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