Disney dumps NHL Ducks during labor shutdown
June 16, 2005
NEW YORK (AFP) - When the National Hockey League returns from a labour dispute that wiped out the entire 2004-2005 season, The Walt Disney Company will not be coming back as owners of the Anaheim Mighty Ducks.
The NHL Board of Governors has unanimously approved the sale of the Ducks to Henry and Susan Samueli pending the expected closure of the sales transaction, the league announced in a statement here Thursday.
No purchase price was announced but it undoubtedly was less than the team would have commanded a year ago before the lost season.
Values of all NHL clubs have crumbled since the labour dispute that wiped out a 2.1 billion-dollar industry and left top players to play for European clubs or sit out and wait for union and league leaders to hammer out a deal.
Disney was a prized ownership group when it bought the franchise and named it for a series of movies about a youth ice hockey team, the Mighty Ducks, but the club had been for sale for some time.
Edited by Ice Man, 16 June 2005 - 08:51 PM.