Following up on the stories about the Facebook stake of hedge fund manager and Seattle basketball fan Chris Hansen:
At the $38 offering price for “FB” disclosed today, the stake of Hansen’s Valiant Capital is worth $1.38 billion when trading opens Friday.
Not bad for an investment of less than $500 million Valiant made in 2010.
That’s up from the $1.27 billion estimate of the stake last week, when I joked about how Facebook’s IPO could help Hansen in his quest to develop and arena for an NBA team.
Of course most of the profits on the deal will go to Valiant investors, but it’s still a windfall for Seattle’s new basketball magnate.