ukcanuck wrote:Fred wrote:I might invest your money but I wouldn't put a plugged nickel of my money into an NHL franchise, do you remember when the Canucks were drawing 7500 a game
Fred, I read your point of view in the strike thread and all I can say is you should work for the taxman if you believe that owning a NHL franchise is a losing proposition. Thats the same bullshit the rich man sells every year, I cant pay my taxes, I lost money.
rich man always makes money even when he is losing money he is still making money
Yeah that's probably what the last owner of the Sabres was saying as they dragged him off to court,or, Nashville Predators majority owner William "Boots" Del Baggio is heading to the big house for 8 years. There's been a range of NHL owners ended up where you can only visit once a week. But NHL is too a small cross section (30 teams ) of business to judge. Lots of business men end up doing time for avoiding taxes and fraud what ever. It's not without danger and then there's bankruptcy heck they keep count of that as a financial indicator there's that many. If they're avoiding taxes and they're caught I hope they do go to jail just like any other offender. As Warren Buffet said it's wrong when he pays less tax ( percentage wise ) than his secretary ....but he did even the score a year ago when he gave $37 million to charity or Bill Gates gave $33 million away. They're not all bad and without investment lets face it most of us would be out of work. Most of us have pensions which cling to the back of the business world including the Unions. I'm thinking the NHLPA has a lot of it's fund invested in the business world
I'll feel bad when the teams start laying off their staff and ushers ( many retired from regular work ) etc don't get work they need to keep them going, but the players, owners as I've said before a pox on both their houses
As to rising franchise values I was once told an important message. Some thing, any thing, is only worth what it bring when you actually complete the sale. It serves no purpose to look at some calculator button pushers opinion of a value. If that were so Phx would have been snatched up, the current perspective owner can't get any one to come up with $20 million.... $20 million, and as I said before the Ontario teachers pension fund is doing THAT WELL it wants to sell it's holdings ..... I can only assume because they can do better else where. Fortune Magazine may predict a value but that's all it is a prediction