the admiral

NHL Anti-Thread: Bad Business Decision Aggregator

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11 minutes ago, Sodboy13 said:

 

Carolina to Carolina and Expansion in Seattle. Gary's got Karmanos' back for eternity, even if he sells, and he's going to sucker Chris Hansen and whoever else out of $600 million.

 

Gary's already fought hand over fist for Glendale. Is he really going to do that too for Karmanos and Raleigh? While still having Glendale in the wings? And who knows however long Florida can hold out? Eventually, one of these things will just cease to exist.

 

And you know they could extort Quebec for $800 million and they'd still pay it.

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Broward County is bailing the Panthers out through 2022, I wanna say. The line with the BB&T Center has always been "you make so much money on the arena schedule that it's okay to lose money on the hockey team," but maybe by then someone in county government is going to reach the conclusion of "why not have the rest of the schedule but not the hockey team" that a five-year-old or Atlanta Hawks owner could reach.

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Quebec City will become to the NHL what Los Angeles was for the NFL for two decades. NHL owners in struggling cities have the threat of relocation to a ready-made arena in a great hockey market in their back pocket, whenever they need to bend over municipal governments to give them more subsidies. "Well, you know I want to stay in Raleigh/Arizona/Miami/Vegas, but I need more favorable lease terms to do so. Did I mention there's a vacant brand new arena in Quebec just waiting for an NHL team?"

 

Of course, anybody with half a brain realizes that Quebec City would provide far more value to the NHL as an active market than it does as a relocation threat for failing, unprofitable teams, but this is the NHL we're talking about...

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Here's a crazy note on the inexorable march of time: at season's end, the MTS Centre will have had an NHL team for as many years as it didn't: seven and seven. Centre Videotron is already on its third year without the NHL team it was constructed for and at the rate we're going, I don't see one coming in the next four, either. The NHL definitely doesn't crap in the mouths of the people most interested in their product, not at all. Here's to four more years of "no, it's better this way, your inferior presence made a couple dickhead Chrysler dealers in the lower bowl feel less special" long-reads. 

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Seattle can begin NHL expansion process

In the wake of the Seattle City Council approving a privately financed $600 million renovation of the Key Arena, Gary Bettman has announced that the ownership group interested in bringing a National Hockey League franchise to Seattle can file an application for an NHL expansion team. The price tag for the potential team will be $650 million and the league is only considering Seattle for expansion.

The ownership group - which counts private equity investor David Bonderman and movie producer Jerry Bruckheimer  amongst its members - will be permitted to run a season-ticket drive within the next few months in order to gauge interest. 

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Lol only Seattle is being considered for expansion...it is amazing how he will bend over backwards for any American city (especially the sun belt) but gives the middle finger to the successful Canadian cities.

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Worse expansion draft terms for Seattle? For $650M, I'd want Connor McDavid.

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$650 million to buy an NHL franchise? Huh.

 

In completely unrelated news, Tom Dundon bought just over half of the Hurricanes for $230 million today.

 

Also completely unrelated: Maybe 4,000 people turned out tonight to watch Panthers-Jets in Sunrise.

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"That doesn't mean we have granted an expansion team," Commissioner Bettman said following the Board of Governors meeting. "We have agreed as a league to take and consider an expansion application and to let them run in the next few months a season ticket drive."

 

We're not saying they're getting a team, just that we're not going to have a huge fcking meltdown over selling hypothetical tickets like we did with the Hamilton Predators.

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MnRxSSq.png

 

Not my work, but I supremely enjoy the top 5% of this meme

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Houston will be the first option for relocation. I feel that it's inevitable.

 

I'm very rusty with my French, but...Je suis désolé, Québec.

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You know... there is one possibility here that wouldn't infringe on Gary's Sun Belt obsession and Canadian export phobia.

 

Vive les Flammes du Québec!

9sZ9q5d.png

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Two days ago Forbes released their LIST of NHL franchise values.  8 of the 31 teams operate at a loss.  Only 10 are apparently worth $650M or more (the expansion fee).  I'm no businessman, but something doesn't add up here.

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1 hour ago, _RH_ said:

Two days ago Forbes released their LIST of NHL franchise values.  8 of the 31 teams operate at a loss.  Only 10 are apparently worth $650M or more (the expansion fee).  I'm no businessman, but something doesn't add up here.

 

On 12/6/2017 at 7:36 PM, the admiral said:

I hate this team, I hate this league, these guys are all carnies and a lot of them aren't even particularly good at it.

 

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Forbes makes those numbers up FYI

 

Never ever believe anyone is losing money on their sports team unless they open their books to the public or put the team up for sale

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No, it's perfectly believable that some teams lose money from year to year but make it all back on the sale. That's why the league maintains a low-interest line of credit for teams to access, and why there's a new revenue sharing provision where Gary Bettman hands blank checks to needy teams. I mean, the Blackhawks losing money, no one believes that for a minute, but the Blues losing money, yeah, I'm sure they find a way to do that, the Blues are always broke for some reason. But if someone buys them in a world where a Raleigh team costs ~$450MM, they'll make it all back and more.

 

Two days ago Forbes released their LIST of NHL franchise values.  8 of the 31 teams operate at a loss.  Only 10 are apparently worth $650M or more (the expansion fee).  I'm no businessman, but something doesn't add up here.

 

We're in the Ponzi scheme phase that preceded the 2004-2005 lockout: terrible business decisions being papered over by expansion fees.

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1 hour ago, ElwoodCuse said:

Forbes makes those numbers up FYI

 

Never ever believe anyone is losing money on their sports team unless they open their books to the public or put the team up for sale

Forbes sets the mm market like a Realtor, no more no less (most of the time as the franchises are so limited)

 

Whose "non-hockey" business is NHL

better? 

We know the Board of Governors hate Quebec's Videotron, but is Tillman Fertitta's mediocre casual dining empire(HOU) or Bruckheimer's TV/movie business (SEA) better?

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Jerry Bruckheimer's name was thrown around for the Las Vegas expansion for years. Now he's behind the Seattle expansion. If he really wanted a hockey team, he could have bought the Blues or Predators for a small fraction of the price years ago. But I guess if anyone is going to do something wastefully, it's Jerry Bruckheimer.

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