Forbes profiles NHL billionaires

Discussion in 'Fugu's Business of Hockey Forum' started by LadyStanley, Nov 2, 2011.

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  1. LadyStanley

    LadyStanley RIP Fugu

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  2. kdb209

    kdb209 Registered User

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    :)

    <gratuitous pad characters>
     
  3. Killion

    Killion Registered User

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    Thats really interesting LadyStanley. Not a word about Jacobs complicity & deceit in selling Bobby Orr's Contract to Chicago to wit it was rumored he received every nickle of his purchase price on the Bruins back huh?. Not a word about how Delaware North Catering Services has grown to be one of the biggest concessionaires in the USofA?. Tell ya what?. "Its more than a Feeling" and Boston?. Real band. Real People. Ya just dont **** around down there unless yer an idjiit.
     
  4. danishh

    danishh Registered User

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    Leonsis and Thompson are obvious omissions, but overall a good job.
     
  5. Section337

    Section337 Registered User

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    I am guessing that they plus Katz and Melnyk are the four the author did not name. Kind of a weird article when he hardly said anything about most of the 10 and didn't name 4 of them.
     
  6. Fourier

    Fourier Registered User

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    Last edited: Nov 2, 2011
  7. Eaglepride*

    Eaglepride* Guest

    Wow I knew Pegula is rich, but holly crap 3.1 billion no wonder the Sabres hit the homerun with this guy.

    Last years list with Anschutz 7 billion is pretty impressive, guess these guys make money even when they sleep but if they are going to include Thomson the guy will dominate this list in no time his net is worth 13 billion according to wfp
     
  8. Blue Dragon

    Blue Dragon Registered User

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    Isn't Kroenke's wife worth even more than Stan himself?
     
  9. Hank Chinaski

    Hank Chinaski Registered User

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    $23.0 B according to Forbes. I've never seen an estimate as low as $13.0 B for Thomson.

    As far as not being included in the list...to be fair, his ties to the Jets organization haven't exactly been advertised. There's no mention of him on their website, and no listing of his name in the NHL Guide & Record Book under the Jets directory.
     
  10. Fugu

    Fugu Administrator

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    Is Leonsis in the billionaire club? I can't remember.
     
  11. Kane One

    Kane One Registered User

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    ... Isn't Dolan a billionaire?
     
  12. rafterman

    rafterman Registered User

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    Well, if you credited Liepold for 1/2 his wife's worth he'd be on the list too :D

    But being rich doesn't mean you're cut out to be a decent sports team owner. Pretty much every decision Glen Taylor has made regarding the Timberwolves makes one wonder how he was ever successful in any business...
     
  13. BamBamCam*

    BamBamCam* Guest

    Because you have the story wrong. It wasn't Jacob's fault it was Eagleston's fault he left Boston. Even though no insurer would underwrite Orr's contract because of his knees, Jacobs still offered Bobby a 5 year 925,000 or 18.5 percent ownership of the team. Eagleston lied to Orr about the contract and they went after the bigger money instead of the long term deal which would have been part ownership of the Bruins.
     
  14. kdb209

    kdb209 Registered User

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    Yup - but just barely:
    Forbes 400 Richest Americans

    103 Ann Walton Kroenke $3.3 B
    107 Stanley Kroenke $3.2 B

    Forbes' Wolds Billionaires

    Although the Forbes 400 (9/21/11) is a bit more recent than their Billionaires list (3/9/11).

    Well, the $23B is David Thomson and Family - others, who shall remain nameless, have tried to split the Thomson trust over all of the siblings.

    Ted didn't crack this years Forbes 400 list - which bottoms out at $1.05B.
     
  15. kdb209

    kdb209 Registered User

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    Yup (#160 on the Forbes 400 at $2.6B) but Dolan does not own the Rangers - they are owned by MSG, a publicly traded company in which the Dolans have only a minority ownership stake (it is 87% owned by intitutional investors and mutual funds).
     
  16. Kane One

    Kane One Registered User

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    So is it possible for him to be fired?
     
  17. kdb209

    kdb209 Registered User

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    Yes, and no. The Dolans only own a small actual percentage stake, but still have operational control. The board, largely appointed by the Dolan, could fire him as CEO/Chairman.

    MSG has a split share structure, similar to the one the Dolan's had at Cablevision - the Dolans own Class B shares (which have a large multiplier on voting rights) which control a majority of the voting shares.

    http://247wallst.com/2010/01/12/cab...son-square-garden-spin-off-cvc-msgnv-msg-gbl/
    Note that even though the Dolans have operational control, they have a fiduciary responsibility to all shareholders - and would be subject to shareholder lawsuit if they did anything on a whim which reduced share value.
     
  18. Kane One

    Kane One Registered User

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    Oh okay, thanks.
     
  19. Fourier

    Fourier Registered User

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    Thanks kdb...

    I probably should have added the :sarcasm: to my post since I am aware of the Forbes list. In fact, the irony is that the same people who supposedly publish the definitive list of the worlds richest people cannot even get it right when all they have to do is to check their own list and see which of the NHL owners are actually billionaires.

    This is just one more piece of evidence that when Forbes does these annual pieces about sports leagues they do not really invest much effort into the process. People see the Forbes name and assume this is some deep piece of investigative journalism. Yikes!
     
  20. Ryan34222

    Ryan34222 Registered User

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    <-------- 1.8B.. i know that makes most on here happy{sarcasm}
     
  21. kdb209

    kdb209 Registered User

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    Not to digress too much into the closed RIMM thread territory - but w/ RIMM @ $18.90/share, that's more likely ~$600M today.

    The $1.8M comes from the Forbes numbers in March, when RIMM was @ ~$65.
     
  22. danishh

    danishh Registered User

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    Ted Leonsis

    1999 (when he bought the caps): ~1B

    2010 : Still hasnt reached 1B


    i'd guess he's in that "almost a billionaire" club. All estimates seem to place him at or around 1B.



    Melnyk:
    940M per the latest canadian business rich 100.

    I believe he peaked at 1.4B when biovail was high.
     
  23. Fugu

    Fugu Administrator

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    Merci. I didn't remember seeing Leonsis on any of the big billionaire lists.
     
  24. Jeffrey93

    Jeffrey93 Registered User

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    Yup..and what does he own? 5% of RIM? What is 5% worth? What did it used to be worth?

    If you believe he isn't worth over a billion you're kidding yourself.

    8 out of 30 Owners (10 counting Thomson & Leonsis?)....so it is pretty obvious you don't need to be a billionaire to be an NHL owner.
    Once you reach a net worth of around $350M or so the rest is just for show. I don't think any of these guys are going to be cashing in that net worth to prop up a franchise. They take on debt and use other people's money to bankroll the team, but...you need to have money to get people to give you money.
    Even when teams go belly-up...the Owners still have most of their money. And if they don't it isn't because of the hockey team.
    A terrible team might lose $15M a year (those losing more are beyond terrible). If you are worth $350M that is 4% of your worth. I'd assume with investments you would be earning more than that by default, never mind any business related income you receive.
    It is when business is so-so or bad AND your franchise is losing $15M+ a year that these guys get fed up and stop pumping money into the franchise. Nearly all of them could afford to stick it out...but that isn't smart business...so they turn in the keys.

    Being worth $15B means nothing, a guy worth $15B might be more reluctant to keep absorbing losses from an NHL team than a guy worth $250M. Both are capable of absorbing the losses without losing money personally (overall), but some might not want to. A dollar is still worth a dollar if you have 200B of them or 200M of them. It's not like an Owner worth $450B is any better than an owner worth $4.5B. There is a point where it doesn't matter anymore...and in the NHL that point is pretty low. Under $500M.
     
  25. Jeffrey93

    Jeffrey93 Registered User

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    If it hasn't been cleared up....Balsillie is on that list as $1.1B.

    Although...the more lists I see the more this appears to be a complete crap shoot. It is really impossible to know, best guesses will have to suffice I guess.
     

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