SI/Weekes: Houston, Atlanta leading NHL expansion list

[dj4aces]

I'm pretty sure the Astrodome has negative value these days - that is it costs more to maintain then it is worth, and the cost to demolish is worth more than the land. So no problem selling it for $1, but who would want it?

It's also far too massive to convert to a hockey arena. Again - you'd need to tear it down and rebuild. Which goes back to my first point.

Now would Houston want to try and subsidize the demolition/reconstruction of the Astromedome? Absolutely. But I think that starts to run afoul of the deal they have with the Rockets/Fertitta and the Toyota Center.

I think you're probably right on all fronts here. However, I also feel like if that second Houston group wants it bad enough and has the money to throw down for demolition and reconstruction, the only thing that'd stop them is Fertitta actually committing to dropping the $1bn+ to buy an expansion franchise.

I know, that if is a very big one, but stranger things have happened.

 

[aqib]

I'm pretty sure the Astrodome has negative value these days - that is it costs more to maintain then it is worth, and the cost to demolish is worth more than the land. So no problem selling it for $1, but who would want it?

It's also far too massive to convert to a hockey arena. Again - you'd need to tear it down and rebuild. Which goes back to my first point.

Now would Houston want to try and subsidize the demolition/reconstruction of the Astromedome? Absolutely. But I think that starts to run afoul of the deal they have with the Rockets/Fertitta and the Toyota Center.

So this was the most recent proposal for the Astrodome. A $1 billion proposal is the latest plan to refurbish and save the iconic Houston Astrodome

Could an arena be part of it? Sure. Now would someone be interested in doing the full redevelopment of the building? Maybe. If the Coyotes were willing to spend $2 billíon+ on a development in Tempe maybe someone spends that to do a whole development inside the Astrodome.
It's just an issue of what would pass the smell test if Fertitta wanted to challenge it in court.

 

[FlyguyOX]

This applies equally to Anson, too.

I am highly skeptical of Anson's bid.

 

[Greatzsky 99]

I suppose that's one way to do it. As per CNBC, The Stars are valued at $1.9bn. For Atlanta, one could get that value from Nashville ($1.5bn) and/or Carolina ($1.3bn).

Fertitta balked at the $650m figure in 2018 too, though. According to Forbes, the Stars were valued at $525m. What's interesting though, is the Forbes link has a league average of $630m listed as well. The expansion fee for Seattle was $650m, so a little more than league average. For context, the Canucks were valued at $735m in 2018.

For 2024, the average franchise value is $1.91bn. So, IF that's the ballpark figure for expansion fees, and IF the league plans to announce expansion in June, I could see the asking price at $2bn per franchise. It sounds high, but if it's Fertitta, he's gotta know that number isn't coming down, and thus needs to shit or get off the pot.

In hindsight, would have been really great business to get a team for 650, 100 mil per year increase(at least)
I dont know much about Fertitta, but he seems to have lost at least 600, cause he wanted 150.

 

[dj4aces]

In hindsight, would have been really great business to get a team for 650, 100 mil per year increase(at least)
I dont know much about Fertitta, but he seems to have lost at least 600, cause he wanted 150.

Oh absolutely. The league has demonstrated, time and again, that they will move on from a prospective owner if they're not willing to pay, so I seriously hope the other group(s) in Houston are viable and have a solid plan to making it work... whether that be a barn in the suburbs or renovating an existing structure.

Houston is a vibrant and diverse market. I sincerely hope, at the end of the day, they end up with a franchise.

 

[GKJ]

I suppose that's one way to do it. As per CNBC, The Stars are valued at $1.9bn. For Atlanta, one could get that value from Nashville ($1.5bn) and/or Carolina ($1.3bn).

Fertitta balked at the $650m figure in 2018 too, though. According to Forbes, the Stars were valued at $525m. What's interesting though, is the Forbes link has a league average of $630m listed as well. The expansion fee for Seattle was $650m, so a little more than league average. For context, the Canucks were valued at $735m in 2018.

For 2024, the average franchise value is $1.91bn. So, IF that's the ballpark figure for expansion fees, and IF the league plans to announce expansion in June, I could see the asking price at $2bn per franchise. It sounds high, but if it's Fertitta, he's gotta know that number isn't coming down, and thus needs to shit or get off the pot.

I don’t think there going to announce anything in that sense. There’s not going to anything that officially opens the process. It’s ongoing right now, and it’s simply a matter of who can come up with the money and building first (or second). They will announce something when they have owners who have buildings.

I hope we get both teams at the same time though as an actual expansion draft would be pretty fun. We haven’t had anything like it in over a quarter century in any sport.

 

[Greatzsky 99]

Oh absolutely. The league has demonstrated, time and again, that they will move on from a prospective owner if they're not willing to pay, so I seriously hope the other group(s) in Houston are viable and have a solid plan to making it work... whether that be a barn in the suburbs or renovating an existing structure.

Houston is a vibrant and diverse market. I sincerely hope, at the end of the day, they end up with a franchise.

I hope so to, the markets are huge, Houston, Atlanta and Phoenix(Yes that Phoenix) would work.
Look at Panthers, when a dedicated and caring owner came in, it was, what was it 10 years ago when
Panthers seemed doomed with abysmal attendance.

 

[Digital Kid]

re: Houston

You know what type of owners/groups/cities I want in the NHL?

Ones that actually want to be there, not having to be forced or coerced to bid for a team.

 

[dj4aces]

I hope so to, the markets are huge, Houston, Atlanta and Phoenix(Yes that Phoenix) would work.
Look at Panthers, when a dedicated and caring owner came in, it was, what was it 10 years ago when
Panthers seemed doomed with abysmal attendance.

On the Panthers, it did take a little while to convince the market that he was willing to do whatever it takes to make the team a success. But now they've won a cup and are vying for another. It demonstrates exactly that a dedicated owner can make any team a success. I'm truly happy for the Panthers and their fans. I know some folks still question it, but I hope this success goes to prove that the NHL works there. I'm looking forward to seeing if Atlanta, Houston, and Phoenix all have those dedicated owners and what they do with their franchises to bring a cup home in short order.

 

[BKIslandersFan]

re: Houston

You know what type of owners/groups/cities I want in the NHL?

Ones that actually want to be there, not having to be forced or coerced to bid for a team.

No one is being coerced. Fertita wants a team, he just does not agree with the price.