Kukla's Korner Hockey
by Paul on 11/28/12 at 01:27 PM ET
Mike Ozanian and Kurt Badenhausen of Forbes discuss the financial value of NHL teams.
Watch below (autoplay is on)...
added 12:31pm, Found the story in case you would rather read than watch the video...
from Mike Ozanian of Forbes,
So why have the owners thus far cancelled 422 regular season games of the 2012-13 season, as well as the All Star Game, insisting on a new CBA that drastically reduces the amount of money (currently 57% of hockey-related revenue) that can be spent on player salaries?
The reason is because on the financial scoreboard, the league’s 30 teams have never been further apart.
Consider the two most recent team sales. In May, Tom Stillman acquired the St. Louis Blues, the team’s American Hockey League affiliate, the Peoria Rivermen, the lease to Scottrade Center, and a piece of the Peabody Opera House for just $130 million. One month later, the NHL approved the Ontario Teachers’ Pension Plan sale of its controlling interest in Maple Leaf Sports & Entertainment, which owns Toronto’s Maple Leafs (NHL) and Raptors (NBA), and the Air Canada Centre, for an enterprise value of $2.05 billion. We estimate the transaction placed a value of $1 billion on the Maple Leafs.
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