Huh... guess my long, detailed response earlier in this thread didn't make any sense with you. BTW, your comment is simply trolling if you aren't arguing the idea b/c you're attacking the person. Anyhow, I'll quote my earlier response for educational purposes:
In 2005, the Samueli's bought the Ducks for $70 mil. Today, the Ducks are worth $460 mil. The Samueli's do not possess $460 mil cash on hand, that's the value of the franchise. The $460 mil value is separate from actually running the Ducks, where you have to compare revenue with expenditures. Anaheim isn't bringing in $460 mil each year.
According to statista, the Ducks' revenue for 2018-19 was $137 mil. (
$134 mil in 2017-18 and $136 mil in 2016-17.) Just for player salaries going into 2020-21 season, the Samueli's will have to pay out over $82.4 mil, as per capfriendly. Using $137 mil projected revenue, player salaries represents 60.1% of the revenue. Add in all the other staff salaries, the overhead cost for maintaining the Honda Center, and other structural updates to the Honda Center, then we can see how the Samueli's are losing millions in running the Ducks just to own the Ducks.
But let's play out your scenario. Let's have the Samueli's sell the Ducks. Then they don't have to worry about any of the employees as he's no longer beholden to them. It's now onto the new owner. Will that owner be as benevolent? Disney used to own the Ducks, but they sold the Ducks because they were losing money. That's two owners who acknowledge that owning the Ducks are losing money. A new owner would probably move the Ducks elsewhere to where the policies are probably better for generating income as well as move onto a bigger metropolis for a bigger revenue.
Let's go back to Disney. Remember, I have shared with you that Disney owns both Disneyland and Disney World. Disney laid off 28,000 workers because the policy forecast was to remain shutdown in the last September meeting. Once that line of thought was laid down, Disney laid off those workers. The Samueli's waited two more months before laying off 15% of their full time staff with some discretionary money and retains their health care. Please read that again.
It wasn't that long ago that the Ducks were thought to be one of the attrition teams from the NHL. Yet, the Samueli's still want to keep the team and keep the team in Anaheim while incurring a loss. The yearly finance to run the Ducks produces a double digit millions deficit. If the Ducks earn $137 mil in one year, but they spent $150 mil in that same year, then they are in a $13 mil deficit. The Samueli's lost $13 mil by owning the Ducks in this example. Apparently, the Samueli's have never broken even while owning the Ducks.
Let's say the value of your house was $200k in 2005. Your yearly salary was $50k, or $4.16k a month. But because your house was built in 1970s, the a/c system is old and requires too much power to run. On your current salary and your expenditures, you just barely break even during the winter months. When summer comes, your a/c unit causes you to have a $300 deficit for four months. So you either try to work overtime or borrow money from relatives. You don't have enough money to purchase a new $20k a/c system. You are stuck in this pattern for a decade, but you're now able to mitigate that $300 a/c bump for four months with higher pay and you save the other eight months to pay for the increase in a/c unit summer running cost. In your tenth year of ownership, the value of your house skyrockets to half a mil. Technically, you half a millionaire because of your house, but you are barely breaking even based upon your yearly revenue and expenditures. Sure, you can take out a home equity loan, but it's a loan. You are just a third into paying off your mortgage still.
Now, you are considered a half a millionaire because of the value of your house. Do you have that money on hand right now? No. You can get it, but you'd have to sell the house. You cannot generate any more money from the house you sold, but you do have that cash on hand now. You can be very generous now and give it to others, but once that money is spent, then you're back to your usual salary... you know, the one you struggled to survive on purchasing a $200k home for a decade.
I hope that helps to explain just how fortunate we are to have the Samueli's as our owners. Sure the value of the house or Ducks org has risen over the years, but cost to run it is in the double digit millions deficit year after year. Despite knowing the loss in money, the Samueli's are still generous. No way of generating any money for 9 months, but they've been paying thousands for several months. In the housing example, if you lost your job for nine months before the value of the house rose and have no other source of revenue, then you'd have to foreclose because you couldn't pay the housing payment.
Yet, you bring up the value of the Ducks. Are you asking the Samueli's to sell the Ducks? Because that's the only way they get that money. I'd rather have the Samueli's generating revenue so they can continue being philanthropic. There is no need to change the economic system, especially with owners like the Samueli's. We just need to change the policy on being able to generate revenue because money doesn't grow on trees.
But I do find it ironic with you stating, "This is the kind of rhetoric for people who take no accountability for their actions." You do know people make their own choice in life on what they want to do in life. If they want to be a part-time worker, then that is their choice. If they want to be a nurse, then that's their choice too. If they want to start up a microchip business, then that's their choice too. Equality of opportunity is there. I simply disagree with you on equality of outcomes.
The Samueli's could have sold the Ducks once they discovered they are losing money owning the ducks. Fifteen years later, they're still losing millions year after year, but I don't ever see them selling the Ducks at all. There's a comfort in that as a fan. And before this pandemic hit, there's a comfort in all employed under the hockey side of the Samueli's business. Brought the Gulls west, which created a Pacific AHL division. Created the Rinks to develop a hockey community in the OC. And was planning on making area around the Honda Center an entertainment area called the OCvibe. The Samueli's are in it for the long haul in the OC. They're doing things at the macro and micro levels to help many, which means creating employment opportunities.
But, hey, knock on the philanthropic owners because you don't understand valuation and yearly running costs are two separate entities as well as the policies of the pandemic has shutdown generating any revenue for over nine months. You're in charge of your own self and immediate family. That's it. The Samueli's are in charge of several companies, which means thousands of families. Your solution... sell the companies. Yeah... I don't subscribe to that thought at all. I'd rather see more people protest in CA to open up the state so they can start generating revenue again, hopefully enough revenue to start re-hiring once again.
Amazon is hiring like crazy. Why? Did you ask that question to yourself? If not why? But, hey, take enjoyment that a So Cal owner is mad due to policy, a policy that can end her business as well as the employment of her staff. I sincerely thought this example was direct proof of keeping employees employed is tied to policy. If you couldn't comprehend that, then this will be the last input I share with you on this subject. Enjoy your day.
