Thursday, March 03, 2005
NHL For Sale?
Here's a twist for you. As if the NHL negotiations weren't dramatic enough, a new entity has stepped into the mix. A Wall Street buyout firm and sports advisory company has made a $3.5 billion offer to buy all 30 NHL teams.
Can this deal happen? "The board listened to a presentation and that's about it," said Bill Daly, NHL Executive VP Bill Daly.
Although still unclear whether or not some of the large market team owners would accept such a deal, I wouldn't count on this going through. Teams like the Maple Leafs, Rangers, Avs, and Red Wings won't be so quick to part with their storied franchises.
"When someone's offering over $3 billion, we felt we had an obligation to the board to have them, at least, hear it from the proposed purchaser," Daly added.
The group claims the sale would bolster the league's revenue by assembling the teams as one entity and work to generate more revenue instead of competing against each other.
Can this deal happen? "The board listened to a presentation and that's about it," said Bill Daly, NHL Executive VP Bill Daly.
Although still unclear whether or not some of the large market team owners would accept such a deal, I wouldn't count on this going through. Teams like the Maple Leafs, Rangers, Avs, and Red Wings won't be so quick to part with their storied franchises.
"When someone's offering over $3 billion, we felt we had an obligation to the board to have them, at least, hear it from the proposed purchaser," Daly added.
The group claims the sale would bolster the league's revenue by assembling the teams as one entity and work to generate more revenue instead of competing against each other.
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To me it just doesn't sound legit. I guess I can understand the basic principle behind it, but the best part, to me, of pro sports is the teams competing against themselves. Having the league as one whole organization just seems a little odd, but that is just me. I understand that when someone throws 3.5 billion at your face you have to at least listen, but hopefully they are just entertaining the thought and will not persue it.
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