Financial Help

Discussion in 'The Business of Hockey' started by andy*, Jun 30, 2007.

  1. andy*

    andy* Guest

    I love teams like the Columbus Blue Jackets , Pittsburgh Penguins and the Edmonton Oilers because they are great hockey markets and great city's. The one thing about them is that they don't have owners with deep pockets. Would it make sense for them to have 2 owners. For example Columbus has just one owner, what if they had 2 and they each had their responsibilities, to make this team better. Instead of being a low cap team, they could go up to the cap and sign good free agents and make it to the playoffs(then who knows, stanley cup finals).
     
  2. jkrdevil

    jkrdevil UnRegistered User

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    Most teams have multiple owners within an ownership group. I don't think there is any team that is entirely owned by 1 person.
     
  3. Sotnos

    Sotnos Registered User

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    I'd have to think you're wrong about that, just off the top of my head I'd say most are owned by 1 person or it's at least close to 50/50. Tampa's owned by one person, I want to say Detroit is also, Chicago, Washington, maybe Boston?
     
  4. Northern Dancer

    Northern Dancer The future ain't what it used to be.

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    Why do you need an owner with deep pockets if these are great hockey markets???
     
  5. Dying Alive

    Dying Alive Phil = 2x Champ

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    Seriously? One of our owners is Ron Burkle. He was ranked #117 on Fortune Magazine's list of the 400 Richest Americans in 2006 with a net worth of $2.5 billion dollars. If that's not deep pockets, I don't know what is.

    Anyway, I don't think that the cap or revenue issues will be a problem with the Pens for much longer. They now have a sweetheart deal with Mellon Arena in which they pay no rent until the new arena is built, and in the new arena they control all revenue streams, both hockey and non-hockey and they have control over naming rights. They also now have a waiting list for season tickets (after raising the prices as much as 50% for some sections). Based on what I've seen, the Pens will end up nearer the top 1/3 of the leagues in terms of revenue over the next few years as opposed to the bottom 1/3 where we've been for so long.
     
  6. Sotnos

    Sotnos Registered User

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    It doesn't matter how deep the owner's pockets are anyway. It means nothing.
     
  7. Jonjmc

    Jonjmc Registered User

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    Given that there are still teams losing money post new CBA, I'd say it means something.
     
  8. Raoul Duke*

    Raoul Duke* Guest


    Edmonton is owned by a group of 30 investors - and there's a multi billionaire who wants to buy the team. The myth of Edmonton being poor is kind of funny.
     
  9. Irish Blues

    Irish Blues Still on hiatus

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    Show me where in the new CBA teams are guaranteed to make money.

    They're not - the new CBA simply makes it possible for all 30 teams to complete on a relatively level playing field, with assistance going to those teams who need it. If you're running a team poorly, the CBA can't fix that - you need to or find someone else who will.
     
  10. Sotnos

    Sotnos Registered User

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    No. Owners are under no obligation to put their own money into a team if they don't want to. You could have the richest owner in the world, doesn't mean he wants to finance a money-losing operation out of his own pocket. It's one thing people brag about here in that "my dad could beat up your dad" way, but it has no relevance to anything.
     

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