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(Yahoo)   In 2005, during the last NHL lockout, Bain Capital offered to buy the league and all its teams for $4 billion. Canada likely horrified by thought of Mitt Romney handing out the Stanley Cup and being associated with their teams   (sports.yahoo.com ) divider line
    More: Interesting, Bain Capital, NHL, Mitt Romney, NHL lockout, Daniel Alfredsson, Andy Murray, Jim Calhoun, Atlanta Thrashers  
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961 clicks; posted to Sports » on 13 Sep 2012 at 7:14 AM (4 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



43 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2012-09-13 06:02:37 AM  
[donotwant]

Seriously.
 
2012-09-13 07:26:35 AM  
Somehow, I imagine most of Canada would not care that much.
 
2012-09-13 07:27:37 AM  
$4 billion for the league and all the teams? That's a price so low as to be offensive.
 
2012-09-13 07:32:16 AM  
The Politics tab is
 
2012-09-13 07:33:21 AM  

Sargun: The Politics tab is


BROKEN!

Damn.
 
2012-09-13 07:33:57 AM  

06Wahoo: Somehow, I imagine most of Canada would not care that much.


They'd care after Bain brought in Chinese and Indian players to replace the Canadian and American players.

/After making the current players teach their replacements how to ice skate
 
2012-09-13 07:35:03 AM  
You know how much it would suck to watch a league where all the teams were owned by the same entity? Obviously, Bain had hoped to buy while people were supposedly desperate, and then sell each team at a later date, assuming profits went up. But for those years where they were "adding value" to the teams..... goddamn. That would have been the end of the NHL.
 
2012-09-13 07:49:43 AM  
Thank the Hockey Gods for intangible emotional value.
Think for a second what the NHL would look like today with a single group of vulture capitalists owning the lot of the teams left. (probably about 16, after the purge of the less profitable and those with weak assets.) All the best players left for the KHL years ago and those left are making only about double the AHL players, attendance is down league wide, national broadcast rights are left swinging in the breeze. Owning all the teams, they can shuffle players around to manipulate the standings and concentrate the better players into larger markets for better local ratings...
 
2012-09-13 08:00:32 AM  

swahnhennessy: You know how much it would suck to watch a league where all the teams were owned by the same entity? Obviously, Bain had hoped to buy while people were supposedly desperate, and then sell each team at a later date, assuming profits went up. But for those years where they were "adding value" to the teams..... goddamn. That would have been the end of the NHL.


Wonder if in alternative universe where this has gone down, Bain surpasses Gary Bettman in hate from hockey fans. Also, I think a lot of teams would've been contracted or merged to shore up larger market or down-on-their-luck traditional squads (LA, Minnesota, NYI, Toronto). Goodbye, Edmonton, Phoenix, Columbus, Florida ... maybe Buffalo, Anaheim, Ottawa and Calgary too.

/Romney was governing in 2005, I think. So he probably wouldn't be handling the Cup.
 
2012-09-13 08:03:12 AM  

swahnhennessy: You know how much it would suck to watch a league where all the teams were owned by the same entity?


You don't have to imagine. Just look at the MLS.

/shudder
 
2012-09-13 08:06:01 AM  
i1182.photobucket.com
 
2012-09-13 08:17:25 AM  

WhyteRaven74: $4 billion for the league and all the teams? That's a price so low as to be offensive.


You never know how desperate someone is until you make them a serious lowball. Put in $1 bids in auctions. Yeah, yeah, an insult. Bain didn't want the NHL that badly. But, when you've got billions in cash sitting there, you can afford to troll.
 
2012-09-13 08:23:25 AM  
This is the kind of news that makes you want to crawl back into bed in the morning.

Logical though process:
- Yes, Pagliuca made a ton of money and bought the Sabres to return them to glory so he's good.

- But he made his ton of money at Bain Capital by over leveraging businesses and putting them out of business so he's bad.

- He gave Penn State a bunch of money to start a NCAA Div 1 hockey team so he's good.

- News and rumors of Penn State starting a hockey team because Pagliuca gave them a ton of money set off a ridiculous scramble for re-alignment in NCAA Div 1 hockey which resulted in Notre Dame and UConn joining Hockey East changing their playoff structure so that no team is eliminated from the conference post season which is quite possibly the stupidest thing ever because it makes the regular season essentially meaningless so he's evil.

- Alabama-Huntsville is still all alone.

- Time for coffee.
 
2012-09-13 08:27:18 AM  
For reference, the current approximate value of all NHL teams combined is $7.2 billion, according to Forbes.
 
2012-09-13 08:36:06 AM  
Scary tag unavailable for comment?
 
2012-09-13 08:41:10 AM  
Do you think the Sabres will have Mitt Romney drop the puck at the first game?
 
2012-09-13 08:42:20 AM  

soopey: This is the kind of news that makes you want to crawl back into bed in the morning.

Logical though process:
- Yes, Pagliuca made a ton of money and bought the Sabres to return them to glory so he's good.

- But he made his ton of money at Bain Capital by over leveraging businesses and putting them out of business so he's bad.

- He gave Penn State a bunch of money to start a NCAA Div 1 hockey team so he's good.

- News and rumors of Penn State starting a hockey team because Pagliuca gave them a ton of money set off a ridiculous scramble for re-alignment in NCAA Div 1 hockey which resulted in Notre Dame and UConn joining Hockey East changing their playoff structure so that no team is eliminated from the conference post season which is quite possibly the stupidest thing ever because it makes the regular season essentially meaningless so he's evil.

- Alabama-Huntsville is still all alone.

- Time for coffee.


Ugh, what?

Are you referring to Terry Pegula?

He made his fortune in oil and natural gas. Far as I know, he's never had anything to do with Bain Capital.
 
2012-09-13 08:44:03 AM  

soopey: Do you think the Sabres will have Mitt Romney drop the puck at the first game?


What are you blathering about? What does any of this have to di with the Sabres and Terry Pegula?
 
2012-09-13 08:46:38 AM  

timswar: 06Wahoo: Somehow, I imagine most of Canada would not care that much.

They'd care after Bain brought in Chinese and Indian players to replace the Canadian and American players.

/After making the current players teach their replacements how to ice skate

nickdoeshockey.files.wordpress.com
 
2012-09-13 08:49:54 AM  

AbbeySomeone: timswar: 06Wahoo: Somehow, I imagine most of Canada would not care that much.

They'd care after Bain brought in Chinese and Indian players to replace the Canadian and American players.

/After making the current players teach their replacements how to ice skate
[nickdoeshockey.files.wordpress.com image 640x493]


Dammit. That was supposed include snark about proficiency in doing the needful of the high sticking for you today.

/coffee
/needful
 
2012-09-13 08:50:45 AM  

Doc Daneeka: soopey: Do you think the Sabres will have Mitt Romney drop the puck at the first game?

What are you blathering about? What does any of this have to di with the Sabres and Terry Pegula?


Crap.

See last logical though.

soopey: - Time for coffee.


I still blame Bain Capital for wrecking the Hockey East post season because I can.
 
2012-09-13 09:42:05 AM  

WhyteRaven74: $4 billion for the league and all the teams? That's a price so low as to be offensive.


Back then? Hockey was completely dead, outside of a few areas nobody was talking about the sport. $4 billion may have been too high.

And Romney wasn't even active in the firm during this period.
 
2012-09-13 09:48:44 AM  
At right wing, Apu Nahasapeemapetilon!
 
2012-09-13 10:22:25 AM  

jigoro: At right wing, Apu Nahasapeemapetilon!


Apu Naha, Nahasa, Not-gonna-work-here-anymore...
 
2012-09-13 10:31:12 AM  
According to Forbes in 2006, the total valuation of all teams in the NHL was $5.39 billion

Forbes
 
2012-09-13 10:35:33 AM  

soopey: Do you think the Sabres will have Mitt Romney drop the puck at the first game?


There wouldn't be an Sabres.

Team names would go to the highest bidder and they would be named Buffalo Nokia's or Buffalo Koch Brothers

The Boston Thermo Fisher Scientific's
L.A. Botox
Vancouver Summers Eve's
 
2012-09-13 10:39:49 AM  
There wouldn't be a Sabres because Buffalo wouldn't be a money-maker.

There is this one market Bain would love to break into, though... George Town Sabres, anyone?

Seriously, though, we thought Bettman was bad.
 
2012-09-13 10:44:17 AM  

GavinTheAlmighty: According to Forbes in 2006, the total valuation of all teams in the NHL was $5.39 billion

Forbes


So that's the year after the lockout and fixing their labor issues, it puts the $4 billion price just about on target.
 
2012-09-13 11:12:47 AM  
If I had a couple billion dollars, I would try and buy the NHL. I would immediately fire Bettman. I haven't thought of a replacement yet, but it can't be worse than old Gary. Maybe Lemieux or Yzerman. Might even go with Paul Taligabue for a big WTF factor.
 
2012-09-13 11:29:03 AM  

steamingpile: So that's the year after the lockout and fixing their labor issues, it puts the $4 billion price just about on target.


According to this (PDF) report (I don't know where she got her data from), the average value of an NHL team in 2004 was $163 million, putting the total valuation of all teams at $4.9 billion.

Is a ~20% difference between value and offer a big deal at those numbers? I have no idea.
 
2012-09-13 12:24:15 PM  
The Stanley Cup hasn't been associated with a Canadian team in a long, long time.

GavinTheAlmighty: According to this (PDF) report (I don't know where she got her data from), the average value of an NHL team in 2004 was $163 million, putting the total valuation of all teams at $4.9 billion.


Value of league > value of individual teams put together. And yeah, no matter what, $900 million is a lot of money.
 
2012-09-13 12:46:07 PM  

GavinTheAlmighty: steamingpile: So that's the year after the lockout and fixing their labor issues, it puts the $4 billion price just about on target.

According to this (PDF) report (I don't know where she got her data from), the average value of an NHL team in 2004 was $163 million, putting the total valuation of all teams at $4.9 billion.

Is a ~20% difference between value and offer a big deal at those numbers? I have no idea.


I suppose it is but they were also taking charge of everything else, you never pay full price for troubled assets if you do then you will be out of that business soon since you wont make a lot of money.

I was just disputing others saying the offer was insulting when people forget a few years ago the NHL was completely dead, now it seems to have come back quite a bit.
 
2012-09-13 01:30:53 PM  

timswar: 06Wahoo: Somehow, I imagine most of Canada would not care that much.

They'd care after Bain brought in Chinese and Indian players to replace the Canadian and American players.

/After making the current players teach their replacements how to ice skate


sure but we wouldn't have to worry about any lockouts or high salary player contracts with the lack of unions...
 
2012-09-13 01:31:30 PM  

IAmRight: Value of league > value of individual teams put together. And yeah, no matter what, $900 million is a lot of money.


Oh absolutely - I'm only speaking in terms of the valuation of the combined teams - obviously there are substantially more important things involved, like TV rights.

I'm not a businessman at all (obviously) - so yeah, I probably shouldn't have compared $4 billion to $4.9 billion, when it's clearly much larger than $4.9 billion.
 
2012-09-13 02:33:41 PM  
History's Greatest Monster no doubt.
 
2012-09-13 02:38:43 PM  
$4 billion for the entire NHL back then and it's now worth around twice that much as a whole. I can only think of 2 owners who would've supported the idea to get out: Charles Wang of the Islanders and that f*cking bastard who ruined the Coyotes.

/F*ck Jerry Moyes
 
2012-09-13 03:56:40 PM  

steamingpile: GavinTheAlmighty: steamingpile: So that's the year after the lockout and fixing their labor issues, it puts the $4 billion price just about on target.

According to this (PDF) report (I don't know where she got her data from), the average value of an NHL team in 2004 was $163 million, putting the total valuation of all teams at $4.9 billion.

Is a ~20% difference between value and offer a big deal at those numbers? I have no idea.

I suppose it is but they were also taking charge of everything else, you never pay full price for troubled assets if you do then you will be out of that business soon since you wont make a lot of money.

I was just disputing others saying the offer was insulting when people forget a few years ago the NHL was completely dead, now it seems to have come back quite a bit.


Depends on what part of the country you are talking about.

Hockey has always remained extremely popular in the Buffalo area, for instance, even in the depths of the 2004-05 lockout.
 
2012-09-13 06:37:30 PM  
Why would you build a team with nothing but right-wingers?
 
2012-09-13 07:47:59 PM  

timswar: 06Wahoo: Somehow, I imagine most of Canada would not care that much.

They'd care after Bain brought in Chinese and Indian players to replace the Canadian and American players.

/After making the current players teach their replacements how to ice skate


Chinese are pretty good skaters - did you watch much of the Olympics?

But I guess that doesn't fit the stereotype, does it?

Maybe if DNC bought it all the players would meet in the middle of the ice and apologize to one another before the game started?

Because politics are so much fun in the sports section.

L O L
 
2012-09-14 12:15:46 AM  

nyseattitude:
Vancouver Summers Eve's


what you did there. i sees it.

/ and approves
 
2012-09-14 03:46:10 PM  

WhyteRaven74: $4 billion for the league and all the teams? That's a price so low as to be offensive.


Now it is... then it was a huge overpayment.
 
2012-09-14 03:53:09 PM  

GavinTheAlmighty: steamingpile: So that's the year after the lockout and fixing their labor issues, it puts the $4 billion price just about on target.

According to this (PDF) report (I don't know where she got her data from), the average value of an NHL team in 2004 was $163 million, putting the total valuation of all teams at $4.9 billion.

Is a ~20% difference between value and offer a big deal at those numbers? I have no idea.


Valuation is more about profitability and cashflow. The article said something about losing $500M a year net of all teams during the lockout.
 
2012-09-14 03:54:17 PM  
Why so much Buffalo talk in here? Just lots of Buffalo Farkers?

/I am
 
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