Confirmed with Link: Carolina Hurricanes Sale - He Dundon it.

[raynman]

I know the chances are slim but it'd be pretty badass if they could get it done before the home opener and introduce Greenberg at the game.

 

[spockBokk]

I know there's probably no "boiler plate" sales agreement for something like this, but since the league has to approve it, outside of the financial terms, I wonder how much of the contract language is standard and how much of it they really have to negotiate? A binding sales agreement by end of August seems awful fast for a deal of this magnitude unless a lot of the terms are already set by the league ahead of time. Would be awesome if that happens though.

A Ward did say in his initial tweet somewhat confirming the sale process that things had been in motion for a "while." So maybe a good bit of the deal was worked out before the public was actually made aware...


https://twitter.com/NHL_AaronWard/status/885574586292633600

 

[HisIceness]

We need to prepare an official statement for BoH when it happens.

Here to Play, Here to Stay!

 

[tarheelhockey]

According to Forbes the Canes ranked 22nd in the NHL last year for average ticket price

If you think about it, there's no good reason that we should be anywhere near that high. We're talking about a team which hasn't made the playoffs in nearly a decade, which is building around young defensemen with little name recognition, playing in perhaps the smallest hockey market in the league, in a building that knocks nobody's socks off, in an area with a low cost of living. Why should there be 8 teams with more expensive tickets than us? I could maybe understand Phoenix and Florida, but 6 other places?

 

[Roboturner913]

We need to prepare an official statement for BoH when it happens.

 

[CandyCanes]

If you think about it, there's no good reason that we should be anywhere near that high. We're talking about a team which hasn't made the playoffs in nearly a decade, which is building around young defensemen with little name recognition, playing in perhaps the smallest hockey market in the league, in a building that knocks nobody's socks off, in an area with a low cost of living. Why should there be 8 teams with more expensive tickets than us? I could maybe understand Phoenix and Florida, but 6 other places?

Couldn't agree more and have had the same exact thoughts. The other teams that were below us were Florida, St. Louis, Nashville, Tampa, Anahiem, Colombus, Colorado, and Arizona.

Team's like St. Louis, Nashville, Tampa, and Anaheim have all had consistent trips to the playoffs and are still offering cheaper tickets than the Canes. Our poor play hasn't been the sole reason to the drop in attendance, part of the drop is attributed to the expensive ticket prices.

 

[Navin R Slavin]

Price for the market you're in. In median household income, the Raleigh-Durham MSA is anywhere between 10th and 20th, depending on where you look.

Pricing is value signaling. The ownership believes, rightly I think, that this is a market that can afford the price. If you know demand is going to increase at some point in the future, you don't wait until demand increases to raise the price -- you raise the price immediately to signal what you believe is the true value of the product.

You can always discount later.

(And if they made a profit last year despite league-worst attendance, it's very difficult to argue that they're wrong.)

 

[Boom Boom Apathy]

I was thinking about this more and there's two ways to look at it and I'm not sure what the various reports use. There's average / median price of ALL tickets and the average/median price of what they actually sell. Most of the games I went to had an abundance of people in the cheaper seats and the more expensive seats were very unoccupied. Heck, even when I went to some games I bought upper deck tickets and sat down low because it was empty and I clearly wasn't the only one.

That bodes well though. I could be wrong as this is based just on my observations at games, not any formal data, but when the attendance was down, maybe a disproportionate sales were for lower priced tickets. As the team improves, it should mean that more higher priced tickets get purchased as well so the revenue / ticket probably goes up as the building gets more full.

 

[tarheelhockey]

Price for the market you're in. In median household income, the Raleigh-Durham MSA is anywhere between 10th and 20th, depending on where you look.

Pricing is value signaling. The ownership believes, rightly I think, that this is a market that can afford the price. If you know demand is going to increase at some point in the future, you don't wait until demand increases to raise the price -- you raise the price immediately to signal what you believe is the true value of the product.

You can always discount later.

(And if they made a profit last year despite league-worst attendance, it's very difficult to argue that they're wrong.)

I fully agree. I'm just saying, St Louis is almost twice the size of Raleigh, the Blues have made the playoffs every year this decade (including a Confernce Finals run) and are led by one of the most exciting young stars in the game, and have been building their market for half a century. It's eyebrow raising that the Carolina Hurricanes have more expensive tickets than the St Louis Blues.

 

[Navin R Slavin]

I fully agree. I'm just saying, St Louis is almost twice the size of Raleigh, the Blues have made the playoffs every year this decade (including a Confernce Finals run) and are led by one of the most exciting young stars in the game, and have been building their market for half a century. It's eyebrow raising that the Carolina Hurricanes have more expensive tickets than the St Louis Blues.

Exactly -- it's harder to raise ticket prices when you're doing well. They've been doing well for a decade. They can only raise prices carefully and incrementally. *Especially* because they haven't won a Cup.

 

[DaveG]

To be fair the Canes did plenty of that too. Not necessarily doing well but even when they were doing "meh" ticket prices were still ticking up significantly year after year for a while. Though they did offer price freezing for STHs for a while too which was nice.

 

[tarheelhockey]

Exactly -- it's harder to raise ticket prices when you're doing well.

Harder to raise them when you're doing well and selling out, than when you're doing poorly and have a half empty building? I don't follow.

 

[Navin R Slavin]

Harder to raise them when you're doing well and selling out, than when you're doing poorly and have a half empty building? I don't follow.

More actual fans to **** off?

OK, maybe I'm wrong on that one.

(Blues are a different club and a different market and different situation, though. There might be many reasons they're not comfortable raising ticket prices, even though they easily could.)

 

[Joe McGrath]

The French taunter from Monty Python and the Holy Grail.

That aught to make the Québécois quite thrilled.

I faarrrrrt in your general direction!

 

[tarheelhockey]

(Blues are a different club and a different market and different situation, though. There might be many reasons they're not comfortable raising ticket prices, even though they easily could.)

Yeah, and I don't want to be too harsh on the Blues here. They know their market and honestly, it's their business to run the way they want.

I'm mainly just throwing (indirect) shade at the amount of **** the Canes get for low prices, considering some of the teams that are even lower.

 

[NotOpie]

I get paid on Tuesday.....and plan on diving back in on a season ticket package. Gave it up last year and have been an on again, off again STH for years. My travel schedule has ratcheted up immensely in the last month, so I'll likely be selling a few games. The key point is, I'm a die hard fan who made a financial decision not to purchase who is changing course (yet again) and going all in again.

I'm guessing that I'm not alone in that regard. I'd love to see some stats on how our season ticket sales are progressing in comparison to last year.

 

[ManiacCaniac]

I'm thinking sort of like you, Opie. My wife and I were STH from 2002 through 2015. We finally decided the cost was too much for the product that was being delivered. With the talk of PK selling the team, positive comments about the potential new owner, and the development of the team, I'd consider being a STH again. But only if PK leaves and a new owner arrives.

 

[Penaltykiller17]

Yeah, and I don't want to be too harsh on the Blues here. They know their market and honestly, it's their business to run the way they want.

I'm mainly just throwing (indirect) shade at the amount of **** the Canes get for low prices, considering some of the teams that are even lower.

I remember last year when I was in NYC, they were selling LL tickets for the Isles vs Sabres for $35 on stubhub.

 

[CandyCanes]

Things have gone quiet. Any Chuck Greenburg in Raleigh spottings lately?

 

[CandyCanes]

And after 5 minutes of digging on twitter I have come across this article that was published yesterday by the Dallas Busisness Journal.

https://www.bizjournals.com/dallas/...xas-rangers-ceo-chuck-greenberg-confirms.html

 

[tarheelhockey]

For now, quiet is good. There's a lot of work to do behind the scenes, and a lack of smoke drifting into the media likely means it's moving along on schedule.

 

[cptjeff]

Last we heard was that the documents were in front of the lawyers, right? Anyone know what lawyers Greenberg has used in the past? We could organize stakeouts of the law firm.

\s

 

[Lempo]

Last we heard was that the documents were in front of the lawyers, right? Anyone know what lawyers Greenberg has used in the past? We could organize stakeouts of the law firm.

\s

I heard cutting the head off and shoving the mouth full of garlic works as well.

 

[ManiacCaniac]

I heard cutting the head off and shoving the mouth full of garlic works as well.

Are you speaking about PK? Maybe not cut his head off, but stuffing his mouth full will prevent him from saying something that screws up the sale of the Canes.

 

[NotOpie]

Last we heard was that the documents were in front of the lawyers, right? Anyone know what lawyers Greenberg has used in the past? We could organize stakeouts of the law firm.

\s

Don't worry, sooner or later that cable guy from QC will spill the true beans....only a matter of time.

I hear the lawyers are the same ones Quebecor uses....