Rock Posted May 22, 2005 Share Posted May 22, 2005 Firm offers new $4 billion bid for NHL http://www.tsn.ca/nhl/news_story.asp?ID=125690&hubName=nhl TSN.ca Staff with Bloomberg files 5/22/2005 10:31:47 AM Bloomberg Business News reports that Bain Capital LLC, one of America's most reputable companies and buyout firms, has increased its bid for the National Hockey League by at least $500 million to more than $4 billion. Sources familiar with the proposal told Bloomberg that Bain and Game Plan LLC, a firm that arranges the sale of professional sports teams, made the new offer on Friday. "We haven't given up, that's for sure," Game Plan chairman Bob Caporale told Bloomberg. Caporale declined to confirm that a revised offer was submitted to the league. NHL spokesman Frank Brown told Bloomberg, "I will not confirm any aspect of what you're reporting." The firm pitched NHL owners a proposal to buy the entire league for more than $3 billion US at a league board of governors' meeting in March. But top officials with several clubs characterized Bain's presentation as merely an interesting information session that barely lasted half an hour and won't be given much thought in the future. The proposal would see all 30 teams run out of a central office, setting team payroll budgets before the season started and distributing revenues to each club. Quote Link to comment Share on other sites More sharing options...
David Puddy Posted May 23, 2005 Share Posted May 23, 2005 What happens to the NHLPA in this case? I'm sure they'd love this. Quote Link to comment Share on other sites More sharing options...
LOTCB Posted May 23, 2005 Share Posted May 23, 2005 I cringe at the thought of this happening as a Sabres fan. Quote Link to comment Share on other sites More sharing options...
Ice Man Posted May 23, 2005 Share Posted May 23, 2005 Wouldn't it be great to start over with new ownership? Quote Link to comment Share on other sites More sharing options...
LOTCB Posted May 23, 2005 Share Posted May 23, 2005 Wouldn't it be great to start over with new ownership? <{POST_SNAPBACK}> Not at all. I like Golisano, I think he has the Sabres pointing in the right direction again. If there is 1 owner, they can decide where players would be best served to play. Superstar in Buffalo or Superstar in NYC/Chicago/LA/Toronto? That choice is easy IMO. Quote Link to comment Share on other sites More sharing options...
hattrick Posted May 23, 2005 Share Posted May 23, 2005 Let's see....doing the math that is about $133,333,333 per team. This may be very enticing to some teams. Quote Link to comment Share on other sites More sharing options...
LOTCB Posted May 23, 2005 Share Posted May 23, 2005 Let's see....doing the math that is about $133,333,333 per team. This may be very enticing to some teams. <{POST_SNAPBACK}> To teams like Buffalo it sure would be...but for teams like the Leafs, Rangers, Red Wings etc its a complete ripoff, those teams are worth MUCH more then that, even after this year was lost. I just do not see this happening. Quote Link to comment Share on other sites More sharing options...
hattrick Posted May 23, 2005 Share Posted May 23, 2005 Let's see....doing the math that is about $133,333,333 per team. This may be very enticing to some teams. <{POST_SNAPBACK}> To teams like Buffalo it sure would be...but for teams like the Leafs, Rangers, Red Wings etc its a complete ripoff, those teams are worth MUCH more then that, even after this year was lost. I just do not see this happening. <{POST_SNAPBACK}> Let's not forget teams like Pittsburgh, Phoenix, etc... That is why I posted SOME teams, NOT ALL!!! Quote Link to comment Share on other sites More sharing options...
LOTCB Posted May 23, 2005 Share Posted May 23, 2005 (edited) Let's see....doing the math that is about $133,333,333 per team. This may be very enticing to some teams. <{POST_SNAPBACK}> To teams like Buffalo it sure would be...but for teams like the Leafs, Rangers, Red Wings etc its a complete ripoff, those teams are worth MUCH more then that, even after this year was lost. I just do not see this happening. <{POST_SNAPBACK}> Let's not forget teams like Pittsburgh, Phoenix, etc... That is why I posted SOME teams, NOT ALL!!! <{POST_SNAPBACK}> Oh I do not disagree with you there at all, I just dont know how they can get ALL the teams to agree to something like this, I dont see that happening thats all. Why would the Maple Leafs owner lose a ton of $, thats one of my i$$ue$ with this whole thing. Edited May 23, 2005 by LOTCB Quote Link to comment Share on other sites More sharing options...
Don Posted May 23, 2005 Share Posted May 23, 2005 Even their last offer said that the dispersal of the purchase price would be proportional to each team's individually assessed value. I don't think LOTCB fears are warranted unless they wanted the make the NHL into WWE. But the problem is that there are way too many owners.... it is a complete impossibility to get that many millionaires to agree. The thousands of dollars that went into preparing the presentation would have been better served in my wallet. This is a waste of time. I, like Get Real, would love to see this. The NHLPA would then have ZERO power. We would go ahead with the old CBA and head office would set policy such as "no signing free agents over $5M" and there would be nothing the NHLPA could say about it. But it ain't gonna happen. Quote Link to comment Share on other sites More sharing options...
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