Drivesaitl
Finding Hyman
Not sure if anybody caught the statement at the ASG but according to Bettman;
NHL commissioner Gary Bettman defends Edmonton Oilers organization
“To suggest that the Edmonton Oilers are in disarray or in trouble, I think is a gross overstatement,” said Bettman. “That franchise is well owned, well run, but they have some issues to deal with.”
“This is an incredibly competitive league and everybody wants to win,” Bettman said. “I know Daryl Katz and Bob Nicholson are committed to winning. The team is being provided with all the resources, but it’s tough to win.”
These are crucial thoughts coming from the commish, who either see's no problems here or isn't saying so. In anycase the comments are putting lipstick on a pig. Telling Oilers fans "its tough to win" is like throwing salt in wounds. As if we wouldn't know. The Oilers lose more than any team in the league in the current CBA.
But its startlingly tonedeaf that Bettman, in 2019, would opine with "Well run, well owned team"
But when one considers business side the comments become more clear. This is a team with a deep pockets owner that has a new funded arena, all proceeds of that arena, with improved revenue streams, and that has several arena district collorary projects that have given him some great return. Katz has already sold Edmonton Tower, which has been largely leased by the City of Edmonton, to an Alberta Crown Corp investment arm. Disclosures are that Katz made huge turn around on this deal in a very short time frame. It should be noted the City, and provinces(indirect) involvement in Edmonton Towers huge profits to this point.
As many have understood is its the real estate and property plays Katz has made in the Entertainment district that really transform revenues. Edmonton, that has historically had an office and tower suites glut has suddenly (I wasn't sure this was coming) become an investment darling in the portfolio of real estate investment and holdings that have seen huge pricing in Vancouver and Toronto. Suddenly Edmonton is touted as the value add for investors and development fund managers. With almost every tower touting attractive relative to Vancouver and Toronto pricing. So that the rental and lease towers being built in the district are selling a lot faster than could be expected. Mainly due to influx of outside investment coming to this market. This all spells gold to Katz who has hit a gusher on these developments.
In turn the Oilers Forbes valuations are higher than ever, and spectacular considering a perennial non playoff team.
David Staples: 'Any other market besides Edmonton would have abandoned the Oilers a long time ago': Sports business expert
Worthy to note the valuation of the Oilers franschise is now 540M, Over 5 times as much as it was in the 2004 season. Oilers revenues are twice as much as they were even in the Pronger cup final year, and the valuation of the org 4X increased in value in a mere 12 years.
So when Bettman is talking "well owned" he's talking dollars and cents. But when he's saying this org has good people that will figure out the on ice team he's talking out of his ass.
This thread exhibits that the actual performance of a club doesn't even matter, it doesn't even factor. In todays pro sports environments of massive corollary investments the on ice performance hardly even factors in the bottom line.
.
Take a look at the chart. The valuations and revenue in the respective years that this club made the playoffs barely did anything to move numbers forward. The biggest change that led to the Oilers being valuated differently, and the franchise worth much more, is the Arena and Entertainment (and real estate) district. It would be less sexy if it was just called the Real Estate district but its what the whole investment play is about.
NHL commissioner Gary Bettman defends Edmonton Oilers organization
“To suggest that the Edmonton Oilers are in disarray or in trouble, I think is a gross overstatement,” said Bettman. “That franchise is well owned, well run, but they have some issues to deal with.”
“This is an incredibly competitive league and everybody wants to win,” Bettman said. “I know Daryl Katz and Bob Nicholson are committed to winning. The team is being provided with all the resources, but it’s tough to win.”
These are crucial thoughts coming from the commish, who either see's no problems here or isn't saying so. In anycase the comments are putting lipstick on a pig. Telling Oilers fans "its tough to win" is like throwing salt in wounds. As if we wouldn't know. The Oilers lose more than any team in the league in the current CBA.
But its startlingly tonedeaf that Bettman, in 2019, would opine with "Well run, well owned team"
But when one considers business side the comments become more clear. This is a team with a deep pockets owner that has a new funded arena, all proceeds of that arena, with improved revenue streams, and that has several arena district collorary projects that have given him some great return. Katz has already sold Edmonton Tower, which has been largely leased by the City of Edmonton, to an Alberta Crown Corp investment arm. Disclosures are that Katz made huge turn around on this deal in a very short time frame. It should be noted the City, and provinces(indirect) involvement in Edmonton Towers huge profits to this point.
As many have understood is its the real estate and property plays Katz has made in the Entertainment district that really transform revenues. Edmonton, that has historically had an office and tower suites glut has suddenly (I wasn't sure this was coming) become an investment darling in the portfolio of real estate investment and holdings that have seen huge pricing in Vancouver and Toronto. Suddenly Edmonton is touted as the value add for investors and development fund managers. With almost every tower touting attractive relative to Vancouver and Toronto pricing. So that the rental and lease towers being built in the district are selling a lot faster than could be expected. Mainly due to influx of outside investment coming to this market. This all spells gold to Katz who has hit a gusher on these developments.
In turn the Oilers Forbes valuations are higher than ever, and spectacular considering a perennial non playoff team.
David Staples: 'Any other market besides Edmonton would have abandoned the Oilers a long time ago': Sports business expert
Worthy to note the valuation of the Oilers franschise is now 540M, Over 5 times as much as it was in the 2004 season. Oilers revenues are twice as much as they were even in the Pronger cup final year, and the valuation of the org 4X increased in value in a mere 12 years.
So when Bettman is talking "well owned" he's talking dollars and cents. But when he's saying this org has good people that will figure out the on ice team he's talking out of his ass.
This thread exhibits that the actual performance of a club doesn't even matter, it doesn't even factor. In todays pro sports environments of massive corollary investments the on ice performance hardly even factors in the bottom line.
.
Take a look at the chart. The valuations and revenue in the respective years that this club made the playoffs barely did anything to move numbers forward. The biggest change that led to the Oilers being valuated differently, and the franchise worth much more, is the Arena and Entertainment (and real estate) district. It would be less sexy if it was just called the Real Estate district but its what the whole investment play is about.
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