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Marc Lasry Rumors

The chairman of the Ozy Media board resigned on Thursday, saying he lacked the experience in “crisis management and investigations” to continue leading the company. Marc Lasry, a hedge fund manager who is also a co-owner of the Milwaukee Bucks, made the announcement four days after The New York Times reported that someone from Ozy appeared to have impersonated a YouTube executive during a conference call with Goldman Sachs bankers while trying to raise $40 million dollars.
Marc Lasry: Look, (the luxury tax) is a big part. I’m not going to tell you it’s not. I mean, it’s just — if you sign somebody for $5 million, you’re not signing him for $5 (million), you’re signing him for $25 (million), $20 million. You sort of look at that, and you’re trying to figure out, ‘Alright, look, if we’re going to do that, OK, there is a cost to it. Yeah, we want him, but that’s going to cost us $25 (million) or that’ll cost us $35 (million).’ I mean, whatever the numbers are. And I think we’re very focused on that. Look, we’re a small-market team. It’s expensive. I mean, for us, this year we’re going to lose quite a bit of money.
What’s quite a bit? Marc Lasry: Um, well think of it this way, we (will) break even before the tax (laughs). … So the tax is real money. (The tax is) what we’re going to lose. You’ll make it up. You’ll make some of it up as you move along in the playoffs, obviously, and that factors in. You’re like, ‘Well look, I know I’m going to lose ‘X (amount of money),’ but if we get to the playoffs, it starts going down.’ But yeah, it’s real money for us. But at the end of the day, the goal is that you want to keep winning a championship, so you’re going to spend the money.