Ottawa Senators for sale (upd: sold to Michael Andlauer)

[oknazevad]

Pretty sure it was Paul Rudd

Great, so now we're dragging Ant-Man into this? Wasn't Deadpool enough?

 

[LadyStanley]

John Ruddy

Is this the same John Riddy who produced the godfather movies?

Wasn’t that Al Ruddy?

The Godfather (1972) - IMDb

Der Pate (1972) cast and crew credits, including actors, actresses, directors, writers and more.

www.imdb.com

Albert S Ruddy

 

[WeaponOfChoice]

Pretty sure it was Paul Rudd

I think you've mistaken him for Pauly Shore

 

[Yukon Joe]

I think you've mistaken him for Pauly Shore

No way man. Clearly it's Paul Anka. I mean he's even from Ottawa!

 

[Masked]

No way man. Clearly it's Paul Anka. I mean he's even from Ottawa!

Doubt he's going to be part of the Senators ownership group again.

Assen na yo!

 

[Yukon Joe]

Doubt he's going to be part of the Senators ownership group again.

Assen na yo!

Ha! I was just making a cheap joke. I had no idea he was ever involved in the Sens!

 

[aqib]

Soccer is infinitely more popular than hockey. Yea, having an A Lister like Reynolds will get them some extra attention but I doubt they become a global brand like the Leafs/Cowboys/Yankees etc.

and hockey is more global than football, but if the NFL can make in-roads into Germany than the NHL can be popular outside of North America. There are Premier League fan clubs all over North America for teams such as West Ham, Crystal Palace, etc that aren't anywhere close to being considered "big clubs" so proper branding and marketing an NHL team could build a fan base globally.

 

[Voight]

and hockey is more global than football, but if the NFL can make in-roads into Germany than the NHL can be popular outside of North America. There are Premier League fan clubs all over North America for teams such as West Ham, Crystal Palace, etc that aren't anywhere close to being considered "big clubs"

Part of the NFLs success is ex-pats living in Europe.

& all three of those teams are in the EPL. Which is also the most watched sports league in the world. Different story.

 

[Karl Eriksson]

Sounds like lots of serious buyers with names out soon:

GARRIOCH: Prospective buyers are preparing their bids to purchase the Senators

The sale of the Ottawa Senators could be about to enter its final, pivotal stages.

ottawasun.com

Interesting that the Melnyks want to retain a 10% stake. That’s news.

 

[LadyStanley]

 

[LadyStanley]

$800m+ (Canadian?) price tag

 

[DueDiligence]

but I doubt they become a global brand like the Leafs/Cowboys/Yankees etc

One of those three teams is not a "global" brand no matter how much people down the 401 would like you to believe!

 

[Yukon Joe]

$800m+ (Canadian?) price tag

$800m CDN works out to be $595m (US), so inline with the Seattle expansion fee.

 

[StreetHawk]

$800m CDN works out to be $595m (US), so inline with the Seattle expansion fee.

Are you sure it’s in CAD? I think the standard is to list in usd since that is easier to compare across other team sales. Pitt went for $800 mill. Nash was reportedly around $750 mill.

 

[Yukon Joe]

Are you sure it’s in CAD? I think the standard is to list in usd since that is easier to compare across other team sales. Pitt went for $800 mill. Nash was reportedly around $750 mill.

I'm not sure of nothing. I was just going by what @LadyStanley had written.

I would think Ottawa is slightly less valuable than those other franchises - revenue in Canadian dollars, need to build new arena. But what do I know.

Also possible the suggested price is for only 90% of the franchise - if the Melnyk's want to retain 10%.

 

[LadyStanley]

Canadian source about Canadian team == assumption that Canadian $ meants

 

[StreetHawk]

I'm not sure of nothing. I was just going by what @LadyStanley had written.

I would think Ottawa is slightly less valuable than those other franchises - revenue in Canadian dollars, need to build new arena. But what do I know.

Also possible the suggested price is for only 90% of the franchise - if the Melnyk's want to retain 10%.

Typically the “price” is on 100% of the team to get the valuation. If you end up buying 90% you’d obviously pay 90% of the valuation.

That helps to compare one team to another. No clue what % of the Pens were sold. But the $800 mill was the valuation that the 2 sides agreed to on the Pens. So the buyer would pay based on the percentage that they buy.

 

[kaiser matias]

I'm not sure of nothing. I was just going by what @LadyStanley had written.

I would think Ottawa is slightly less valuable than those other franchises - revenue in Canadian dollars, need to build new arena. But what do I know.

Also possible the suggested price is for only 90% of the franchise - if the Melnyk's want to retain 10%.

This is arguably a positive for the Senators. Moving to the proposed Lebreton site would be a huge upgrade over the current location and should lead to a huge increase in revenue.

 

[The Devilish Buffoon]

The price tag is obviously in USD, come on lol

Canadian source about Canadian team == assumption that Canadian $ meants

There are literally thousands of examples of this not being the case.

This is arguably a positive for the Senators. Moving to the proposed Lebreton site would be a huge upgrade over the current location and should lead to a huge increase in revenue.

Arguably is a technically correct word to use here, but you could replace it with “almost certainly” and the statement would be just as (if not more) valid

 

[Transplanted Caper]

Obviously the Senators are staying in Ottawa, but Gary preemptively emphasizing it, like a kid saying "it was like that when I got here" is a weird choice.

 

[blueandgoldguy]

Condition of the sale is that the team remains in Ottawa, but what happens if the team is unable to secure financing for the new arena a few years down the road? How many years would the owner be required to keep the team in Ottawa if they were to remain in Kanata indefinitely? 5 years? 10 years? Longer?

Keep in mind, I'm hoping they are able to secure public/private financing for the arena (no way the arena will be 100% privately financed), but how long would new ownership be satisfied with the new location, and how long would the league give Ottawa to resolve the issue before relocation became an option?

 

[Karl Eriksson]

Condition of the sale is that the team remains in Ottawa, but what happens if the team is unable to secure financing for the new arena a few years down the road? How many years would the owner be required to keep the team in Ottawa if they were to remain in Kanata indefinitely? 5 years? 10 years? Longer?

Keep in mind, I'm hoping they are able to secure public/private financing for the arena (no way the arena will be 100% privately financed), but how long would new ownership be satisfied with the new location, and how long would the league give Ottawa to resolve the issue before relocation became an option?

Considering they have a perfectly useable building now, I suspect indefinitely.

 

[Yukon Joe]

This is arguably a positive for the Senators. Moving to the proposed Lebreton site would be a huge upgrade over the current location and should lead to a huge increase in revenue.

A new arena at Lebreton would be a huge +ve for the Sens valuation.

But nothing has been agreed to yet, and negotiations completely fell apart a couple of years ago on that exact same point.

So I can definitely see some investor seeing lots of potential in the Sens because of the new arena development. But it's not guaranteed (aka it's risky), so I don't know to what extent that potential gets priced into a sale price.

 

[Karl Eriksson]

A new arena at Lebreton would be a huge +ve for the Sens valuation.

But nothing has been agreed to yet, and negotiations completely fell apart a couple of years ago on that exact same point.

So I can definitely see some investor seeing lots of potential in the Sens because of the new arena development. But it's not guaranteed (aka it's risky), so I don't know to what extent that potential gets priced into a sale price.

My guess is they got comfort letters from the NCC and the city to mitigate the regulatory risk

 

[Yukon Joe]

My guess is they got comfort letters from the NCC and the city to mitigate the regulatory risk

A comfort letter isn't legally binding though, so again if you're talking about investing hundreds of millions of dollars I don't know how much that moves the needle.