from Rick Westhead of TSN,
The owners of the Pittsburgh Penguins are asking $750 million (U.S.) for the team, but face long odds of finding a buyer who’s willing to pay that much because of the flagging North American economy and uncertainty over the future of the Canadian dollar, sports investment bankers say.
A $750-million transaction price would mark a record for a U.S.-based NHL team, said Drew Dorweiler, a Montreal economist who has been hired by the owners of the Toronto Maple Leafs, Vancouver Canucks, Manchester United and other sports teams to estimate their franchise values.
“It does seem a bit steep with the economy and for that market,” Dorweiler said. “Pittsburgh is certainly not one of the largest cities in the U.S.”
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