Weekes Head Posted September 14, 2004 Share Posted September 14, 2004 According to TSN.ca: Report: Canucks reach deal to sell Associated Press 9/14/2004 An agreement in principle has been reached to sell the Vancouver Canucks, reports the Vancouver Sun. Local businessmen Tom Gaglardi, chief executive officer of Sandman Hotels, Inns and Suites, and Ryan Beedie, president of the Beedie Group, are reviewing owner John McCaw's Orca Bay financial records and other relevant documents. According to the Sun, the two sides have agreed on a price for both the team and GM Place, believed to be in the $250-million range. The final deal is still a couple months away with several outstanding issues remaining, according to the newspaper. ``We'd love to be able to buy the Vancouver Canucks,'' Gaglardi told the Sun. ``We've had some conversations in the past and, you know, we hope to continue to have them. And that's really all I can say right now.'' The Canucks are believed to have profited around $25 million last season and $20 million the season before. http://tsn.ca/nhl/news_story.asp?ID=98673&hubName=nhl Quote Link to comment Share on other sites More sharing options...
Zero Posted September 14, 2004 Share Posted September 14, 2004 Hopefully Orca Bay will take their stupid whale logo with them. Quote Link to comment Share on other sites More sharing options...
Derek21 Posted September 14, 2004 Share Posted September 14, 2004 The Canucks are believed to have profited around $25 million last season and $20 million the season before. Not bad. Quote Link to comment Share on other sites More sharing options...
LOTCB Posted September 14, 2004 Share Posted September 14, 2004 The Canucks are believed to have profited around $25 million last season and $20 million the season before.Not bad. <{POST_SNAPBACK}> I saw that too and found that interesting...wait, a team PROFITS, whos not in a major market? this cannot be true!!!! I thought the NHL was in SERIOUS financial crisis?!?!?! I dont know what to say about this league anymore Quote Link to comment Share on other sites More sharing options...
Devils30 Posted September 14, 2004 Share Posted September 14, 2004 The Canucks are believed to have profited around $25 million last season and $20 million the season before.Not bad. <{POST_SNAPBACK}> More proof the owners are full of sh*t. Quote Link to comment Share on other sites More sharing options...
Don Posted September 14, 2004 Share Posted September 14, 2004 Aye. But Brian Burke pointed out that those two years are drops in the bucket that the team lost between 1995 and 2002. He also pointed out that the team, for the most part, are going with a young squad. They dumped Bure, Mogilny and other high priced talent and built off a young core. When Bertuzzi, Naslund, et al come around looking for more money (what happened here with the Devils where we had a young core that got older) their payroll is going to skyrocket. Or they deal. That's what Edmonton does to stay afloat. It's what the Montreal Expos have been doing for years. Draft/trade for good young talent. Let them mature. Trade them away or they leave via free agency. Furthermore, Vancouver is a big market. At least a big HOCKEY market. If they are big enough to have an NBA franchise (though stupid drafting killed the team) they are probably tied with Montreal for 2nd biggest in Canada. And Vancouver has a higher per capita income than Montreal. On top of that, to keep salary low, the Canucks had to go without a decent goaltender. Which has cost them in the playoffs. They ownership made a choice: make a profit, or make it far into the playoffs. They chose to keep the payroll down low and forgo they shot at the Cup. Quote Link to comment Share on other sites More sharing options...
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