News Article: Oilers are 7th most valuable team in NHL ($1.1 billion dollar valuation by Forbes)

[snipes]

Interesting article here.

Forbes says the Oilers are worth $1.1 billion, the seventh most valuable NHL franchise (oilersnation.com)

I guess so much for that "small market" narrative that the Eastern Canadian media try to push about the Oilers is not objectively true.

Click to read more...

 

[yukoner88]

Eat shit Calgary

 

[LTIR]

Pocklington Katz

 

[Zenos]

That's a bit surprising to see, after Forbes listing the oilers as middle of the pack for so many years.

I'm sure having McDavid, Draisaitl, and a still new Rogers Place has done wonders for the team's value.

 

[MettleMcOiler]

That's a bit surprising to see, after Forbes listing the oilers as middle of the pack for so many years.

I'm sure having McDavid, Draisaitl, and a still new Rogers Place has done wonders for the team's value.

It's because they short changed us...

“The biggest rise in these valuations belongs to the Oilers, who doubled in value from last season’s ranking, to $1.1 billion. We now believe that we were short-changing them on revenue in the past and have verified that the team ranks in the top quartile in the NHL in every important revenue category, including local media, where they are in the top five alongside the Maple Leafs, the Canadiens, the Detroit Red Wings and the Chicago Blackhawks.”

 

[Beerfish]

The city got so scammed. Said then say it now.

 

[Blue Line Turnover]

Sorry, I dont know much about business, but a few of my business school friends said that Katz lost money every year with the Oilers...

 

[Zenos]

It's because they short changed us...

Yep, read the linked article after posting
Kinda goes to show how accurate / valid these kinda lists really are though.

Nevertheless, it's good to see. I remember all too well the dark days of Pocklington, Les Alexander, that scam artist from "Bern", and finally the amazing but still strapped for cash EIG.

 

[Zenos]

Sorry, I dont know much about business, but a few of my business school friends said that Katz lost money every year with the Oilers...

It's possible that the team maybe "loses" money in terms of annual operating income vs. expenses.
But if the team's value continues to rise (which most major sports teams do these days), Katz really doesn't have to worry about losing on his investment.

...And that doesn't even take into consideration where the real money comes from. Katz used the Oilers / Arena (and its sweetheart deal from the COE) to leverage an absolutely massive Realestate development of downtown.

 

[Kerberos]

Speaking of, is the development of the Entertainment District (I refer to use the silly Ice District moniker) all but scrapped due to COVID putting a screeching halt on residential and commercial development or are there still plans to carry out the original blueprints of what was planned once the economy picks back up?

 

[Zenos]

Speaking of, is the development of the Entertainment District all but scrapped due to COVID putting a screeching halt on residential and commercial development or are there still plans to carry out the original blueprints of what was planned once the economy picks back up?

The entertainment part of the district is all but completed already - including the plaza, the Stantec tower and the Marriot tower.
Phase II, located on the North side of the rink (along the LRT line) will be primarily residential (up to 12 towers and a new park) and is still in planning as far as I know.

 

[K1984]

It's because they short changed us...

Yet we still can't get our god damn pre-season games broadcast by Sportsnet.

 

[Kerberos]

The entertainment part of the district is all but completed already - including the plaza, the Stantec tower and the Marriot tower.
Phase II, located on the North side of the rink (along the LRT line) will be primarily residential (up to 12 towers and a new park) and is still in planning as far as I know.

Wasn't there supposed to be a podium with a theater and tower opposite of the Marriot on the west side of the district on the former Greyhound site as well?

 

[BlueCheeseWithWings]

Wasn't there supposed to be a podium with a theater and tower opposite of the Marriot on the west side of the district on the former Greyhound site as well?

Yes.

 

[Zenos]

Wasn't there supposed to be a podium with a theater and tower opposite of the Marriot on the west side of the district on the former Greyhound site as well?

The theatre was scrapped a couple years ago already. But the rest of the podium should supposedly open next year. No sure about the tower portion.

 

[Jumptheshark]

Factor in that the arena is directly linked to how much the team is worth

 

[MettleMcOiler]

Factor in that the arena is directly linked to how much the team is worth

Isn't the arena owned by the city though?

 

[XXIV97]

If we are worth 1.1 billion, can they cut some of the prices

 

[Czechboy]

Those $20 bud lights really add up!

 

[Mr Positive]

If we are worth 1.1 billion, can they cut some of the prices

Those aren't related

Prices will only drop if attendance keeps dropping

 

[Biltmore]

The theatre was scrapped a couple years ago already. But the rest of the podium should supposedly open next year. No sure about the tower portion.

They started on that but have done maybe 2 floors and then they took down the crane. They are completing the grocery store at the south end of that project.

 

[Tobias Kahun]

It's possible that the team maybe "loses" money in terms of annual operating income vs. expenses.
But if the team's value continues to rise (which most major sports teams do these days), Katz really doesn't have to worry about losing on his investment.

...And that doesn't even take into consideration where the real money comes from. Katz used the Oilers / Arena (and its sweetheart deal from the COE) to leverage an absolutely massive Realestate development of downtown.

Which is something the Edmonton downtown needed

 

[Fourier]

Sorry, I dont know much about business, but a few of my business school friends said that Katz lost money every year with the Oilers...

No chance. The NHL salary cap pretty much guarantees that any team with the revenue base the Oilers have makes money. Now for tax purposes there are ways to make profits go away but in terms of the actual bottom line to Katz's pocket this team was a plus as soon as the new arena opened. (Last year of course may have been an exception.)

 

[nabob]

Which is something the Edmonton downtown needed

It’s almost like everyone benefitted from the new downtown/arena development.

 

[Beaumaris]

Means absolutely nothing,as far as winning anything goes.