Confirmed with Link: The Ottawa Senators Sale - PART 2

[Flamingo]

He's on NHL Network now

Lebrun asking him about Sales Process
GSP expects a very good outcome within the next few weeks
The process run by GSP has been done well and right.
Should not be experiencing fatigue

Was Bettman asked about bidder fatigue? I mean, we've heard about bidder fatigue since a week after the binding bid deadline.

 

[Sens of Anarchy]

Was Bettman asked about bidder fatigue? I mean, we've heard about bidder fatigue since a week after the binding bid deadline.

was not specific if I recall ( which is not very trust worthy) .


This thread has more specific wording on what was said

 

[Senator Stanley]

Was Bettman asked about bidder fatigue? I mean, we've heard about bidder fatigue since a week after the binding bid deadline.

No. He kind of addressed and minimized reporter fatigue, but did not acknowledge bidder or fan fatigue.

 

[starling]

I don't understand bidder fatigue. Just table your final bid and go home to your life.
Or is it like Apple store where they need to camp in line at the GSP office?

 

[Crosside]

GARRIOCH: NHL commissioner Gary Bettman says the sale of the Ottawa Senators is on track

The latest on the sale of the Ottawa Senators

ottawasun.com

 

[IpsoPostFacto]

GARRIOCH: NHL commissioner Gary Bettman says the sale of the Ottawa Senators is on track

The latest on the sale of the Ottawa Senators

ottawasun.com

"The source said that means once a deal is in place it may not take as much time to close on the sale because a lot of what needs to be done will already have been negotiated.

Just dropping this quote from the article for future generations.

 

[Samboni]

as a aff

Bruce must have been speaking with some of the penny-auction bidders at the Carp Farmer’s Market!

 

[aragorn]

as a aff


Bruce must have been speaking with some of the penny-auction bidders at the Carp Farmer’s Market!

I was there today, I didn't see Bruce.

 

[Loach]

How does it take longer to sell this team than a 6B$ NFL team?

 

[Golden_Jet]

How does it take longer to sell this team than a 6B$ NFL team?

Not sure
Commanders hired a bank for the sale November 2 last year.
But I’m not really impatient, knowing the sale will happen.

 

[Ouroboros]

No wonder the league and GSP are willing to be so patient.

 

[Sun God Nika]

If it’s at 1.2b Andlauer is out for sure

 

[Flamingo]

If it’s at 1.2b Andlauer is out for sure

Who knows what partners he might have considering the Kimels' alliance with another billionaire was just revealed.

And this is 1.2b for 90% of the team, right? Considering the Melnyks retain 10%.

 

[Tap on the Ankle]

if it's really 1.2B then they must be selling 100% of it
otherwise it would put the team valuation at #6 on the Forbes list, between Boston and LA
a 1.2B outright sale still puts the team in the top 10, equal to Washington and just below Philadelphia

 

[Sun God Nika]

if it's really 1.2B then they must be selling 100% of it
otherwise it would put the team valuation at #6 on the Forbes list, between Boston and LA
a 1.2B outright sale still puts the team in the top 10, equal to Washington and just below Philadelphia

I think all groups are ready to include the melnyks from a brucey article.

The sens sale is about to reset the valuations for a all clubs.

 

[Jhero]

 

[Nac Mac Feegle]

As much as I love the interest in the Sens and keeping them here in Ottawa (obviously)....there is no way in hell this franchise is worth 1.2 billion. Even one billion is extremely high.

The numbers being thrown around are unfathomable. Even if they were to boost ticket prices to Montreal/Toronto levels, how the hell does the team manage to make a profit when you're a billion in the hole (and possibly existing debt on top of that?) from day one? Not to mention scraping together at least another $600 million for a new arena and then probably $100-200 million more for the entertainment district or condos or whatever will be attached to it.

I don't understand these numbers at all. Even with a nice tv deal and moderate revenue sharing...I don't see how this all shakes out to be a good deal for any buyer at this point. Only way someone is buying a pro sports team these days has to be vanity. There's no way these valuation figures can keep going up like this much longer.

 

[PlayersLtd]

As much as I love the interest in the Sens and keeping them here in Ottawa (obviously)....there is no way in hell this franchise is worth 1.2 billion. Even one billion is extremely high.

The numbers being thrown around are unfathomable. Even if they were to boost ticket prices to Montreal/Toronto levels, how the hell does the team manage to make a profit when you're a billion in the hole (and possibly existing debt on top of that?) from day one? Not to mention scraping together at least another $600 million for a new arena and then probably $100-200 million more for the entertainment district or condos or whatever will be attached to it.

I don't understand these numbers at all. Even with a nice tv deal and moderate revenue sharing...I don't see how this all shakes out to be a good deal for any buyer at this point. Only way someone is buying a pro sports team these days has to be vanity. There's no way these valuation figures can keep going up like this much longer.

Nowhere has the expression that "X is worth whatever somebody is willing to pay for it" more appropriate than a sports franchise.

But nobody who is buying is going to be $1B in the hole. The NHL requires a % equity upon purchase (60?) in order to avoid the unattainable revenue numbers you're talking about. Still very daunting for your average billionaire though, so you're right.

And the real estate play is a different investment altogether that is almost guaranteed to be profitable (under normal market conditions anyway), but yes, requires a whole new chunk of change.

For most billionaire buyers a sports franchise is a pet project with a massive long term return upon resale, it's less about generating year over year profit. This is why the greek is by far our best option from a wealth standpoint alone. He can run it at a break even or take chances chasing a cup knowing that when he cashes out in 15 years, recent history suggests its just about the best investment he could possibly make. The fact that he / they are young is a massive factor as well. There will be no medium term jitters which can cause someone to be squeamish about their investment, he'll be in it for the long game and thus more amenable to weathering the ebbs and flows.

All that said I agree that the apparent market price is absurd.

 

[Upgrayedd]

As much as I love the interest in the Sens and keeping them here in Ottawa (obviously)....there is no way in hell this franchise is worth 1.2 billion. Even one billion is extremely high.

The numbers being thrown around are unfathomable. Even if they were to boost ticket prices to Montreal/Toronto levels, how the hell does the team manage to make a profit when you're a billion in the hole (and possibly existing debt on top of that?) from day one? Not to mention scraping together at least another $600 million for a new arena and then probably $100-200 million more for the entertainment district or condos or whatever will be attached to it.

I don't understand these numbers at all. Even with a nice tv deal and moderate revenue sharing...I don't see how this all shakes out to be a good deal for any buyer at this point. Only way someone is buying a pro sports team these days has to be vanity. There's no way these valuation figures can keep going up like this much longer.

Only makes sense with a large swath of land In the lebreton area, assume that's the wrench in that initially the assumption was it would be a given but now with the ncc and land claim its off the table and with that the valuation has dropped and bidders were allowed to adjust. No large area of land guaranteed in a prime spot, I can't see anyone paying beyond 6 to 700 max max.

 

[Ouroboros]

1.2B is not quite what it used to be. You can spend nearly that much picking up a week's worth of groceries at Loblaws.

 

[Tnuoc Alucard]

 

[AchtzehnBaby]

 

[Oscar The Grouch]

I think it's time to close this thread until the team is sold.

 

[Tnuoc Alucard]

I think it's time to close this thread until the team is sold.

 

[AchtzehnBaby]

I think it's time to close this thread until the team is sold.

In two weeks we can close it.