Jump to content
The Official Site of the Carolina Hurricanes
Sign in to follow this  
MinJaBen

Carolina Hurricanes Sold

Recommended Posts

My understanding also is that Forbes put it's value on before expansion. The fact that someone paid $500 million to start a team from scratch likely reset the bottom value for an existing team.

 

Also, I agree with the contention that this is a really good time to buy this team. Though we can all see the improvements on the ice and in the organization, and the deep prospect pool, from a distance we gained all of one point in the standings from the previous year, and last year's attendance felt like the worst year I can remember. So on paper things are at a nadir.

 

But all internal signs point upward to those paying attention.

 

So, buy the team now and ride the improvements as the guy who saved hockey in Raleigh, while your investment grows with the team. Not a bad gig if you have $500 million laying around.

Edited by remkin

Share this post


Link to post
Share on other sites
16 minutes ago, remkin said:

My understanding also is that Forbes put it's value on before expansion. The fact that someone paid $500 million to start a team from scratch likely reset the bottom value for an existing team.

 

Very good point.  This guy gets a whole organization for his $500M.  Vegas just paid the cover charge with their $500M.

Share this post


Link to post
Share on other sites
1 hour ago, raleighcaniac said:

Everyone should be holding their breath on this to some extent.

 

I think a little skepticism when a business is sold is always warranted. I have been through several sales as an employee and it always has a degree of uncertainty and nervousness but when it has been widely reported  that a condition of the sale is to stay in Raleigh and as others have pointed out the league and current team management have repeadly told us relocation is not  the plan at some point you have to believe them.

 

$500 million is a lot of change. One explanation I saw is that Vegas just paid $500 mil for an expansion team setting the value bar for potential buyers. This guy, this group doesn't strike me as a group that hasn't thought it through.

 

Could we see structural changes in management , of course but it is way too early to worry about that. IMO most of the organization structure will be just fine. Don't forget when RF is mentioned that he is also an investor and I read the plan was to retain local investors and add more. I'm just not overly concerned.

 

I think I'll wait to see if the deal gets done before I spend too much time worrying.  I think your concerns are valid but I also think this appears to be a good thing for the Hurricanes and Hurricane fans.

Share this post


Link to post
Share on other sites

And as I mentioned earlier, any sell price less than the 500 million start up fee would be under-cutting the market value of an NHL team, and the other owner's profits, which is the important part.

Share this post


Link to post
Share on other sites
21 hours ago, coastal_caniac said:

:poke: QC

 

I'm guessing we don't hear from them anymore. But after all of their trolling, we shouldn't wait for them. We should all go over to their boards and.....oh wait.....they don't have any boards......:coollaugh:.

  • Like 3

Share this post


Link to post
Share on other sites
47 minutes ago, coastal_caniac said:

I would also assume the sale would include Gale Force Holdings, which has operating rights to PNC, which should also be factored into the selling price.

 

That's the thing, we don't know what Forbes included in it's valuation or what the purchase offer includes. There are a number of formal businesses and I'm not even going to try to figure out the exact relationships. 

 

  • Gale Force Holdings, LLC:  Includes subsidiary Hurricanes Holdings, LLC as well as the Hurricanes's ECHL affiliate Florida Everblades, along with stadium Germain Arena in Fort Myers, Florida.[16] [from Wikipedia]
  • Hurricane Holdings, LLC owns the Carolina Hurricanes and operates PNC Arena. [that's cut directly from the Canes web site]
  • Carolina Hurricanes Hockey Club: presumably just the Canes hockey franchise? [listed as a business on Hoovers and LinkedIn]
Edited by LakeLivin

Share this post


Link to post
Share on other sites

So now Mike Ozanian of Forbes is saying the letter of intent is non-binding  and Greenberg isn't even close to raising the money for a purchase. I'm going to sit back and watch this until we get some further clarification.

 

Her is something different. Appears we have some new number to memorise before seasons start

 

RT @MikeSundheim: New numbers for the #Canes:
7 Ryan
14 Williams
15 Saarela
19 Jooris
29 Poturalski
33 Darling
57 van Riemsdyk
 
One (or two?) changes left.

Share this post


Link to post
Share on other sites
3 minutes ago, OBXer said:

So now Mike Ozanian of Forbes is saying the letter of intent is non-binding  and Greenberg isn't even close to raising the money for a purchase. I'm going to sit back and watch this until we get some further clarification.

 

OK, I'm revising my 95% estimate to 94%.

Share this post


Link to post
Share on other sites

Yeah, some dude at Forbes gets pissed off because their valuation is way too low and debunks the sale price.  What else is new from the media - they live in that world now don't they?.

 

Other factors such as Gale Force Holdings and any assumed debt can affect the sale price, which he conveniently doesn't mention.  So for right now, the 500 million is really irrelevant.  The purported sale may yet fall through but that doesn't make it "fake news" as the reporter from Forbes has suggested.

 

 

Edited by coastal_caniac

Share this post


Link to post
Share on other sites

If there is an ownership change the public face and related communication could be subjected to immediate review.  The number and sentiment of all Moderators is likely to be scrutinized IMO.  One-by-one.

 

Attention! (sarchasm alert ;) )

Edited by Manwolf
  • Like 1

Share this post


Link to post
Share on other sites
8 minutes ago, Manwolf said:

If there is an ownership change the public face and related communication could be subjected to immediate review.  The number and sentiment of all Moderators is likely to be scrutinized IMO.  One-by-one.

 

Attention! (sarchasm alert ;) )

Well it would be cool to meet the new owner, even if were my last act.:boarding:

Share this post


Link to post
Share on other sites

Wow it's been a long time since I took an 8 hour drive and came back to 5+ pages of material to go through. Things are even looking up from a forum standpoint!

 

 

  • Like 1

Share this post


Link to post
Share on other sites

I'm not peddling conspiracy theories. Just saw a bit of irrational exuberance over the last 3 to 4 forum pages over a non-binding offer.  Is it good news? Certainly because it means the eclectic oddball current owner may not be around more than another year.  Is his selling dictum still to control the team? No-one except the billionaires involved know that answer.  As fans all were being fed is the pablum a billionaires league wants to feed us. Control your excitement. This needs to play out over the next few months to a year minimum before the local proletariat will really know whats going on. 

Edited by raleighcaniac

Share this post


Link to post
Share on other sites
19 minutes ago, dogbutler said:

Well, usually we're a hot topic in the Quebec media

 

Interestingly enough the Hockey News, ( Quebecor owns the subsidiary which owns The Hockey News ) just did an article about the possible sale. I thought they were fair in the analysis of the team and wrote with a degree of optimism if the team stays in Carolina. Noting:

Quote

it’s worth noting from 2005-06 to 2013-14, the Hurricanes’ average attendance was 16,300-plus.

there’s no reason why a consistently successful Hurricanes club wouldn’t start to pack the house.

 

The Hockey News;  Offer to buy Hurricanes, keep team in Carolina couldn’t come at a better time  By: Jared Clinton

 

We should note we appear to be a long way from a final sale. Yet even the sale news is mostly positive

Share this post


Link to post
Share on other sites
17 minutes ago, OBXer said:

We should note we appear to be a long way from a final sale. Yet even the sale news is mostly positive

 

Yes, and we should have tempered this straight away.  Think about your own purchases, and the time it takes from the initial commitment to the final ownership.

  • Fast Food:  1 minute
  • Can of soup at grocery: 5 minutes
  • Furniture: 1 hour
  • Car: 6 hours
  • House: 2 months
  • Office Building: 4 months
  • Very Small Business: 6 months
  • $500B Hockey Team with multiple properties: ???  1 year?

 

 

Edited by wxray1
  • Like 1

Share this post


Link to post
Share on other sites

This just in...

 

https://www.canescountry.com/2017/7/18/15994240/carolina-hurricanes-proposed-sale-chuck-greenberg-carolina-hurricanes-wral-jeff-gravley

 

This reveals some interesting info about Greenberg and his Carolina connections--local, and once included the Durham Bulls.

Edited by top-shelf-1

Share this post


Link to post
Share on other sites
27 minutes ago, top-shelf-1 said:

This just in...

 

https://www.canescountry.com/2017/7/18/15994240/carolina-hurricanes-proposed-sale-chuck-greenberg-carolina-hurricanes-wral-jeff-gravley

 

This reveals some interesting info about Greenberg and his Carolina connections--local, and once included the Durham Bulls.

Yah, I thought this was further along than initially reported...usually the media breaks this a few days later than what they're reporting is actually happening.  That being said, hopefully all the legal t's are crossed and i's are dotted...and this sale moves quickly (albeit the requisite wait for approval by the BoG at their next meeting in December).

Share this post


Link to post
Share on other sites
11 hours ago, AWACSooner said:

Yah, I thought this was further along than initially reported...

You and me both.

 

News like this doesn't leak if the process isn't pretty far along. I get everybody's concern given JR's previously-stated desire to still run the org, but for me the fact that it slipped one day and he acknowledged it the next -- and that it all happened in media other than Forbes, which has no clue when it comes to valuing the sports business -- tells me this was strategically leaked only when all concerned had acknowledged that it's a done deal.

Share this post


Link to post
Share on other sites
45 minutes ago, top-shelf-1 said:

 

News like this doesn't leak if the process isn't pretty far along. I get everybody's concern given JR's previously-stated desire to still run the org, but for me the fact that it slipped one day and he acknowledged it the next -- and that it all happened in media other than Forbes, which has no clue when it comes to valuing the sports business -- tells me this was strategically leaked only when all concerned had acknowledged that it's a done deal.

 

OK I'm re-revising my estimate up to 94%.

  • Like 1

Share this post


Link to post
Share on other sites
12 hours ago, top-shelf-1 said:

This just in...

 

https://www.canescountry.com/2017/7/18/15994240/carolina-hurricanes-proposed-sale-chuck-greenberg-carolina-hurricanes-wral-jeff-gravley

 

This reveals some interesting info about Greenberg and his Carolina connections--local, and once included the Durham Bulls.

 

Good news, now I'll get back to my irrational exuberence.

Edited by coastal_caniac
  • Like 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...