Bettman meeting with Ryan Smith, owner of Utah Jazz and Real Salt Lake (upd: Smith asks NHL to open expansion process)

[SImpelton]

As a Québec City resident and born only an hour away, my perspective is that a good portions of Nords fan DIDN'T became Habs fans. Instead they became fan of another team, or they watch NHL hockey without having a fave team(like I do) or they stopped watching the NHL altogether. The Habs hate is DEEP in Nords fans, never forget that.

Those people would jump back on the Nords wagon the second a team would be announced IMO.

Unfortunately, I doubt the Molsons care about that. They have a monopoly on media rights in quebec right now and it's making them a mint. In asking them to give that up to make room for a second Quebec team, you're asking them to take one of their most lucrative assets, split it in half, and give half of it away to another owner. I'm not even sure what you could offer to make Montreal seriously consider that.

Especiially because the Molsons have weight in the owner's room as one of the most successful franchises in the NHL, so it's not like the other owners are likely to gang up on them.

It could probably be done in some manner, but the cost and effort required to get it done involve concessions I simply can't see the league making right now.

 

[SImpelton]

the bottom line here in my mind is I don't think a lot of fans, especially older Canadian fans, really understand how modern NHL revenue works. I keep hearing QC fans say that they've got an arena, and they've got fans, so they should be good.

The fact of the matter is that that isn't how NHL franchise revenue has worked in decades.

The reality is that gate takings, which is the only aspect they seem to be considering, hasn't been a majority of an NHL franchise's revenue in decades. It's still significant, but few teams could spend up to the cap floor on gate takings alone. Without media, sponsorships, and their share of leaguewide revenue for jersey sales, etc, very few cities would be ecconomically viable for an NHL franchise.

Now, the problem for QC is that the media rights for their region have already been assigned. They belong to les Habs, and the Habs make millions on them. In order to create a truly viable QC franchhise you have to get those rights away from Montreal. Meaning you either have to strong arm them somehow, or get them to agree to do it.

the problem is as one of the wealthiest and most influential franchises in the NHL, les Habs have no real reason to participate or cooperate with an effort to seize a portion of their revenue stream. You can negotiate, sure, but what incentive do theMolsons have to actually listen to what you have to say? As far as I can see they can just talk and talk and stall and stall and make millions the whole time by not giving up those rights. I'm not sure how you could incentivize them to even come to the table properly.

Maybe once their current media deal ends you have a window for talkiing about it. but you'd still have to offer them something, and I have no idea what that something could be.

 

[patnyrnyg]

Unfortunately, I doubt the Molsons care about that. They have a monopoly on media rights in quebec right now and it's making them a mint. In asking them to give that up to make room for a second Quebec team, you're asking them to take one of their most lucrative assets, split it in half, and give half of it away to another owner. I'm not even sure what you could offer to make Montreal seriously consider that.

Especiially because the Molsons have weight in the owner's room as one of the most successful franchises in the NHL, so it's not like the other owners are likely to gang up on them.

It could probably be done in some manner, but the cost and effort required to get it done involve concessions I simply can't see the league making right now.

I don't think any one owner has more "weight" in the owners room that any other. This is not 60s or 70s where the newbie comes in and doesn't want to step on any toes. All of these owners are all ridiculously wealthy and are not going to care about the Molsons or any other owners history in the league. They are all looking out for their own best interests and if they feel having a 2nd team in that province will benefit them, they will vote to approve the relocation.

 

[SImpelton]

On the other hand the governors are definitely interested in not creating precedents that could be applied to them later.

We're talking about taking an asset owned by the Molsons, that's worth according to some calculations around $40M/year, and roughly halving it. That's a lot of cheddar, and it's more than enough for the Molsons to play hardball. I doubt they'll walk away from an asset of that caliber without a fight.

Especially not when, like I've been saying for a few pages now, there are plenty of other media markets that are completely untapped right now (Atlanta/Houston/Portland/possibly Milwaukee, Baltimore or KC sometime in the future) that are worth a damn, and would not require a knock down, drag out with one of the most powerful franchises in the NHl to achieve.

LITERALLY THE ONLY REASON Montreal agreed to let the Nordiques exist in the first place is because it ended the challenge to NHL supremacy by merging with the WHL. That needed to be done for the good of the league and so Montreal agreed/was strongarmed into it.

There is no such incentive this time for Montreal to play ball. And if Montreal does not agree to share the media rights a second QC team is instantly nonviable. Long gone are the days when the gate alone was enough.

 

[Yukon Joe]

On the other hand the governors are definitely interested in not creating precedents that could be applied to them later.

We're talking about taking an asset owned by the Molsons, that's worth according to some calculations around $40M/year, and roughly halving it. That's a lot of cheddar, and it's more than enough for the Molsons to play hardball. I doubt they'll walk away from an asset of that caliber without a fight.

Especially not when, like I've been saying for a few pages now, there are plenty of other media markets that are completely untapped right now (Atlanta/Houston/Portland/possibly Milwaukee, Baltimore or KC sometime in the future) that are worth a damn, and would not require a knock down, drag out with one of the most powerful franchises in the NHl to achieve.

LITERALLY THE ONLY REASON Montreal agreed to let the Nordiques exist in the first place is because it ended the challenge to NHL supremacy by merging with the WHL. That needed to be done for the good of the league and so Montreal agreed/was strongarmed into it.

There is no such incentive this time for Montreal to play ball. And if Montreal does not agree to share the media rights a second QC team is instantly nonviable. Long gone are the days when the gate alone was enough.

I'm not sure where you're getting this notion that a new Nords team would "halve" Montreal's media rights.

There are two sorts of media rights - national and local.

A new Quebec City franchise would reduce Montreal's national rights - from earning 1/7 of the Canadian media rights, to getting 1/8. That is something for sure.

BUt the Habs would still continue to receive their local media fees. Those would be unchanged. It would then be up to Quebec City to try and negotiate a deal for media rights with whomever they can.


The reason Quebec City didn't get a franchise is much more simply - Pierre-Karl Peladeau can't afford one. Because he has control over the Videotron Centre he is the only one who can put a team there. But when you combine the decline of the Canadian dollar from when Quebecor (PKP's company) first applied, plus the increase in franchise values, he can't afford an expansion franchise.

 

[Final Baton]

I'm not sure where you're getting this notion that a new Nords team would "halve" Montreal's media rights.

There are two sorts of media rights - national and local.

A new Quebec City franchise would reduce Montreal's national rights - from earning 1/7 of the Canadian media rights, to getting 1/8. That is something for sure.

BUt the Habs would still continue to receive their local media fees. Those would be unchanged. It would then be up to Quebec City to try and negotiate a deal for media rights with whomever they can.


The reason Quebec City didn't get a franchise is much more simply - Pierre-Karl Peladeau can't afford one. Because he has control over the Videotron Centre he is the only one who can put a team there. But when you combine the decline of the Canadian dollar from when Quebecor (PKP's company) first applied, plus the increase in franchise values, he can't afford an expansion franchise.

Well put. And I think PKP is now willing to work with other investors, he has changed his tune it seems. Provincial Finance Minister Eric Girard is assigned by govt to convince the NHL, and according to him a consortium of investors is up to the task. Which implies PKP is open to the idea of sharing the ownership (I very much doubt Girard would go on this mission without having the OK from PKP).

The tv deal going to TVA Sport would also be pretty interesting revenue-wise, as well as costing him "nothing" in rights fees since he owns TVA Sport. He wouldn't have to pay TVA Sport for the broadcast service : he IS TVA Sport.

 

[aqib]

Not to get off-topic, but cities that don't already have the facilities and infrastructure should not be bothering with the IOC or Olympic bids. Stick with cities that already have what is needed or go regional.

2002 had 78 events 2022 had 109. So who knows how many there will be by 2030. Also the arena is already over 30 years old so it would probably be replaced as part of any future bid. So Smith probably wants to know if the NHL ever has SLC on its radar because he wouldn't want to have a Phoenix situation.

 

[Yukon Joe]

Well put. And I think PKP is now willing to work with other investors, he has changed his tune it seems. Provincial Finance Minister Eric Girard is assigned by govt to convince the NHL, and according to him a consortium of investors is up to the task. Which implies PKP is open to the idea of sharing the ownership (I very much doubt Girard would go on this mission without having the OK from PKP).

The tv deal going to TVA Sport would also be pretty interesting revenue-wise, as well as costing him "nothing" in rights fees since he owns TVA Sport. He wouldn't have to pay TVA Sport for the broadcast service : he IS TVA Sport.

I believe there is CBA language that would prevent that. After all PKP/Quebecor would not be the first media company to own a team, and those media rights do form part of HRR. There is some kind of mechanism to establish a "fair market value" for tv rights to prevent exactly such under-bidding between non-arms-length parties.

 

[TheLegend]

That I couldn't tell you. I stopped paying attention to the Coyotes situation so not aware of the contract with ASU, or the timeline/deadline for the new arena situation.

Coyotes are paid up in advance to play at Mullett Arena (ASU) through the 2024-25 season. With an option to play there for 2025-26.

 

[Final Baton]

I believe there is CBA language that would prevent that. After all PKP/Quebecor would not be the first media company to own a team, and those media rights do form part of HRR. There is some kind of mechanism to establish a "fair market value" for tv rights to prevent exactly such under-bidding between non-arms-length parties.

Thanks for the clarifying on that.

And the point I wanted to get across the most is "PKP is now open to sharing the ownership with a consortium".

 

[BMN]

I keep hearing QC fans say that they've got an arena, and they've got fans, so they should be good. The fact of the matter is that that isn't how NHL franchise revenue has worked in decades.

<> Without media, sponsorships, and their share of leaguewide revenue for jersey sales, etc, very few cities would be ecconomically viable for an NHL franchise.

tl;dr of what I've typed below: If you want to sell people on putting a hockey team in Quebec City, refocus your argument on what a QC brand would add to the value of the NHL to the generic sports fan. Not just the people actually living in QC.
-----
This is a separate point from the media rights hurdle, but I've come to realize in the past decade that what Quebec NHL advocates need to do if they want the league to be more likely to expand/relocate there is to try to sell the "cool" in the resurrection of a small-town predominantly francophone city.

We know the sport is popular there so the gate has never been an issue. We also know that putting a team there is not likely to add a tremendous amount of TV viewers on its face. That said...

Don't underestimate the level of branding that such a franchise brings in the NHL across the continent. This is probably fresh on my brain because I'm teaching a pop culture class tonight where one of the concepts is authenticity and how powerful it is as a branding device: regardless of whether or not it's real or not.

This is obviously strictly anecdotal, but I've spoken to many sports fans over the years (not just hockey fans, sports fans in general) who when the subject of hockey teams comes up will remark at "hockey teams in Florida make no sense," etc. (and these aren't your Canadian loyalists....these are your boilerplate "man/woman on the street" who are otherwise non-hostile to the south....heck, oftentimes they *are* southerners). A hockey team to Quebec doesn't add them as viewers, you say? But do we conclusively know that?...

People like to watch things that feel authentic (which I know is an often artificial construct but its artificialness doesn't dull its impact). To the average sports fan in Nebraska flipping the channels...a hockey game in Quebec City in front of a sold out French crowd may seem foreign to them. But it is also more likely to feel exciting and authentic. Whereas a game in Tampa may come across very "astroturfed." (Again, I'm not saying I feel that way or that these things are real....but if they feel real, they become real).

That's why I've always felt that the league would be best to have a balance whenever they are adding or relocating teams. For every market that "grows" the game, there needs to be market that "shows" the game (i.e. what it looks like when the team and sport is part of locale's ingrained culture). Honestly for all the grist we have on this board about cities that do or don't have teams, I don't think the league is that far off in this regard.

 

[Bonk]

What was different with Winnipeg when Atlanta moved back then and Quebec now? Not arguing, just asking, because from the outside it seems like Quebec -- with all the flaws that are repeatedly mentioned -- still seems like a better option for the Coyotes than languishing in the desert and playing in a 5,000-seat rink in a city that doesn't care about them.

 

[BKIslandersFan]

What was different with Winnipeg when Atlanta moved back then and Quebec now? Not arguing, just asking, because from the outside it seems like Quebec -- with all the flaws that are repeatedly mentioned -- still seems like a better option for the Coyotes than languishing in the desert and playing in a 5,000-seat rink in a city that doesn't care about them.

Winnipeg had ownership group with money, QC does not seem to be one of the reason.

 

[SImpelton]

What was different with Winnipeg when Atlanta moved back then and Quebec now?

First of all, Winnipeg was probably the worst casualty of the exchange rate crisis. Already marginal Canadian teams got screwed over bad by having to pay for their talent in American dollars at a time when the Canadian dollar was a record lpw. That wasn't the last nail in the coffin but it did NOT help. Fortunately the exchange rate is much more reasonable today.

Also, Winnipeg has done a lot of growing in the intervening ~20 years before losing and regaining their franchise. Winnipeg is still a smaller Canadian city and one of the smallest markets in the NHL (possibly THE smallest) but it's not an utter backwater anymore like it was in the 90s.

 

[BKIslandersFan]

First of all, Winnipeg was probably the worst casualty of the exchange rate crisis. Already marginal Canadian teams got screwed over bad by having to pay for their talent in American dollars at a time when the Canadian dollar was a record lpw. That wasn't the last nail in the coffin but it did NOT help. Fortunately the exchange rate is much more reasonable today.

Also, Winnipeg has done a lot of growing in the intervening ~20 years before losing and regaining their franchise. Winnipeg is still a smaller Canadian city and one of the smallest markets in the NHL (possibly THE smallest) but it's not an utter backwater anymore like it was in the 90s.

It is. And its not even close. I don't think aside from them and Green Bay, no other metropolitan area has less than million people amongst areas that has at least one of NFL, NBA, MLB and NHL team.

And Green Bay is the abnormally that is never happening ever again.

 

[NorthStar]

At the time, years ago when Winnipeg almost landed several NHL teams, as I recall that Nashville Predators, Pittsburgh Penguins and also lastly, Arizona Coyotes) I was thinking would Winnipeg be able to support fully and I was convinced by the huge sellout of tickets on order and on list once it was announced that the NHL was returning to Winnipeg with the old Atlanta Thrashers moving.. I do recall that the year before, WInnipeg almost got the Arizona Coyotes to move back but a 11th hour last minute deal kept the Coyotes in Arizona.. that would have been a reversal of the team moving from WInnipeg to Phoenix and then back...

As for Quebec City I do hope there is a chance the NHL will return there but as several posters have pointed out it has to be finiancial possible or not for that to happen... i would love to see the Quebec Nordiques fully return.. but expansion?? Ohhh the price would be insane to pay.. but relocation of a NHL team? Hmm maybe but who? I can think of the Coyotes and Florida Panthers at best..

Salt Lake City would have been ideal but wasnt there rumors of SLC trying to get a expansion team years ago?? Would be interesting to see if that did happen indeed.. Same for Houston too as well.. can say that for Kansas City, Portland, Milwaukee too.. as they were on the list for expansion in the NHL years ago too...

 

[PCSPounder]

If I’m Gary Bettman, knowing that the Olympics are probably headed to SLC (if not 2030, then surely 2034)… well, heck, I want to know the odds for which year, for starters.

I want to know the odds of a replacement arena, the size of it, and whether- this time- hockey will be in the larger arena rather than the smaller one. Oh, what about the second hockey arena… would they use Peaks again, or the actual arena built on the Utah Valley University campus… or somewhere else? And is there any way I can help (without a monetary commitment… duh).

And I will know that Ryan Smith had to let Donovan Mitchell leave the Jazz. Maybe there’s a question about whether the Jazz can ever really get good free agents, what’s the political climate, and what are the chances of the Jazz moving?

And if Ryan Smith is from Portland, since the Blazers (AND the Moda Center) are soon to be sold at auction, would he be interested in buying?

Also, if he would entertain selling the Jazz, have Seattle people already contacted him? Or this IS the contact. Maybe the Coyotes aren’t even the connection here.

This all opens up a reasonable number of possibilities. But I’m virtually certain that a commissioner who isn’t understanding the lay of the land in the larger entertainment industry isn’t doing his job.

 

[AintLifeGrand]

Salt Lake City would be a horrible place for a team. Even an emergency relocation of the Coyotes.

The Great Salt Lake may be dry in as little as 5 years. The dry lakebed will expose tons of toxic pollutants such as Arsenic and make the air quality uninhabitably poor. Many of the cities major industries are dependent on the lake and nothing is being done to curtail the overuse and divergence of all of the river away from the lake.

In short, Salt Lake City is completely f***ed and I don't have any faith in the area being saved. Plopping an NHL team there would just mean kicking the relocation can down the road by 5-10 years at most.

i guess you missed the 900 inch season at Alta this year… GSL going to be way up this year.

 

[Galactico]

Lol why Salt Lake City over Quebec City?

Salt Lake City Metro area has a population of 1.2M on an area of 19 900 sq. Km while Quebec City has a metro population of 850k in an area of 3300 sq. km. That is 6x more land included in the Salt Lake Metro Area than in Quebec City.

US cities metro areas cover a huge amount of land compared to the way Canadian cities metro areas are calculated.

I guarantee Quebec City metro area population would easily be over 1M if we considered 19 900 sq km instead of 3300. It would be on par with cities such as Salt Lake, Buffalo, New Orleans etc.

 

[Tawnos]

Lol why Salt Lake City over Quebec City?

Salt Lake City Metro area has a population of 1.2M on an area of 19 900 sq. Km while Quebec City has a metro population of 850k in an area of 3300 sq. km. That is 6x more land included in the Salt Lake Metro Area than in Quebec City.

US cities metro areas cover a huge amount of land compared to the way Canadian cities metro areas are calculated.

I guarantee Quebec City metro area population would easily be over 1M if we considered 19 900 sq km instead of 3300. It would be on par with cities such as Salt Lake, Buffalo, New Orleans etc.

This kind of analysis doesn't really tell the true story. Metropolitan statistical areas (MSAs) in the United States include entire counties. The SLC metro area includes all of Tooele County. Tooele County is 18,870 sq km of the 19,900 sq km in the metro area, but only has 72,698 of the 1,257,936 people. In other words, 94% of the population lives in 5% of the area covered by the MSA as defined.

The SLC metro area is also one of those places, like Raleigh-Durham, that's split into multiple MSAs, rather than one that covers the whole thing. The Combined Statistical Area (CSA), which includes Ogden and Provo, has 2.7 million people in it. Both of those separate MSAs also see a similar phenomenon as the SLC MSA. Most of the people live in a small area.

The four adjacent counties in the I-15 corridor (Utah, Salt Lake, Davis, Weber) have a population of 2,542,237 over 10,990 sq km, which is a density of 231.3/sq km. Quebec City's metro area density is 234.8/sq km. Density wise, they're pretty similar places. That corridor is about 1.5 hours to drive if you hit good traffic. Unlike the south Florida metro, the highest population center is in the middle of it, rather than at one end.

Edit: Don't get me wrong. I'm extremely skeptical about the viability of SLC as a market because of the presence of the Jazz. I just wanted to clear up the geographical reality of the place.

 

[Dirty Old Man]

i guess you missed the 900 inch season at Alta this year… GSL going to be way up this year.

This year helped for sure, but the overall trend is still disconcerting....still below min acceptable level by some feet:

https://www.washingtonpost.com/weather/2023/04/09/great-salt-lake-snowpack-water-level/

"Despite its recent rise, the lake is still six feet below what is considered “the minimum acceptable elevation for the lake’s ecological and economic health,” according to Abbott. The snowpack, and what happens to its runoff, holds the key to whether the lake can make relatively quick progress toward that six-foot level."

 

[AintLifeGrand]

This year helped for sure, but the overall trend is still disconcerting....still below min acceptable level by some feet:

https://www.washingtonpost.com/weather/2023/04/09/great-salt-lake-snowpack-water-level/

"Despite its recent rise, the lake is still six feet below what is considered “the minimum acceptable elevation for the lake’s ecological and economic health,” according to Abbott. The snowpack, and what happens to its runoff, holds the key to whether the lake can make relatively quick progress toward that six-foot level."

Considering we may not have reach peak snowpack yet (usually the Wasatch gets around at least 50" additional inches for April and May), I can see the GSL rising by several feet.

With that said, we will have to see how the next several winters play out. I lived in SLC from 2017-2021 and during my 5 years there we had 2 good above average seasons, 1 really bad season and 2 below average seasons.

Last year was slightly below average as well.

I agree there are some long term challengers facing Salt Lake City- especially with its explosive population growth and current water mgmt practices, but at the same time a few average seasons will replenish the GSL.

Now on the other hand, I hope Lake Powell is drained and Glen Canyon is restored

 

[KevFu]

Not to get off-topic, but cities that don't already have the facilities and infrastructure should not be bothering with the IOC or Olympic bids. Stick with cities that already have what is needed or go regional.

I think that is very much on topic, since the concept of NHL in Salt Lake is based solely on "Do the parties who are going to earmark money to build venues for Olympic bids every 30 or so years want to use those venues for the business of the NHL in the interim?

2002 had 78 events 2022 had 109. So who knows how many there will be by 2030. Also the arena is already over 30 years old so it would probably be replaced as part of any future bid. So Smith probably wants to know if the NHL ever has SLC on its radar because he wouldn't want to have a Phoenix situation.

It just makes sense to talk, period. I don't know "which way" it's going: if the NHL is saying "If you ever want to consider owning an NHL team... now is the time to consider it and work it into Olympic bid plans" or if Smith is saying "If you ever want to consider Salt Lake, now is the time because we can work it into our Olympic bid plans."

NHL Salt Lake with a AHL in Provo makes a ton of sense if they're going to build an NHL/NBA/Olympic main venue in SLC and a secondary arena to play M/W hockey in down in Provo.

If I’m Gary Bettman, knowing that the Olympics are probably headed to SLC (if not 2030, then surely 2034)… well, heck, I want to know the odds for which year, for starters.

I want to know the odds of a replacement arena, the size of it, and whether- this time- hockey will be in the larger arena rather than the smaller one. Oh, what about the second hockey arena… would they use Peaks again, or the actual arena built on the Utah Valley University campus… or somewhere else? And is there any way I can help (without a monetary commitment… duh).

And I will know that Ryan Smith had to let Donovan Mitchell leave the Jazz. Maybe there’s a question about whether the Jazz can ever really get good free agents, what’s the political climate, and what are the chances of the Jazz moving?

And if Ryan Smith is from Portland, since the Blazers (AND the Moda Center) are soon to be sold at auction, would he be interested in buying?

Also, if he would entertain selling the Jazz, have Seattle people already contacted him? Or this IS the contact. Maybe the Coyotes aren’t even the connection here.

This all opens up a reasonable number of possibilities. But I’m virtually certain that a commissioner who isn’t understanding the lay of the land in the larger entertainment industry isn’t doing his job.

100% all of these things should be covered in a conversation. It just makes sense to have your fingers on the pulse of sports business. It's like ADs in conference realignment: If you don't know what other conferences would be interested in having you, and what you need to do to get into better conferences -- based on conversations with other parties once or twice a year -- then you're not doing your job.

I will say the Donovan Mitchell and FA thing for Utah.... (because I looked it up in the convo about American fans allegedly being anti-Canada). We all know that the smallest cities in every sport have the most problems keeping free agents. (LeBron left Cleveland for Miami and Los Angeles AND HE'S FROM THERE). But the other two massive factors besides size are: The coldest and predominantly white cities struggle to lure/keep free agents. Minnesota has no problem getting HOCKEY free agents, but are terrible with BASKETBALL free agency. (The joke was that the black population of Minnesota drops to 13 when Prince is on tour).

 

[aqib]

I think that is very much on topic, since the concept of NHL in Salt Lake is based solely on "Do the parties who are going to earmark money to build venues for Olympic bids every 30 or so years want to use those venues for the business of the NHL in the interim?

It just makes sense to talk, period. I don't know "which way" it's going: if the NHL is saying "If you ever want to consider owning an NHL team... now is the time to consider it and work it into Olympic bid plans" or if Smith is saying "If you ever want to consider Salt Lake, now is the time because we can work it into our Olympic bid plans."

It could even be figuring out if the NHL is going to commit to allowing its players into the Olympics.

That being said, contrary to Bettman's pronouncements that he doesn't have a list of cities handy, he does. We figured that out when Mark Chipman said that he was invited to give presentation in 2007 and that other cities (Seattle, Vegas, KC, and Houston) presented the same day. Its no coincidence that the next 3 markets to get teams were on that list of 5.

 

[Yukon Joe]

What was different with Winnipeg when Atlanta moved back then and Quebec now? Not arguing, just asking, because from the outside it seems like Quebec -- with all the flaws that are repeatedly mentioned -- still seems like a better option for the Coyotes than languishing in the desert and playing in a 5,000-seat rink in a city that doesn't care about them.

There's one important difference between 2011, when Atlanta moved to Winnipeg, and now - franchise values.

TNSE paid $110 million to Atlanta's owners, plus a $60 million "relocation fee", for a total of $170 million. But that was 12 years ago.

The Nashville Predators were just sold for a valuation of $880 million.

I think it highly unlikely TNSE would have ever paid that kind of money for the Jets (even with Canada's richest man as part of the ownership group). And I think it impossible to imagine that PK Peladeau would ever be able to come up with that kind of money.