Friday, February 25, 2005
Duck Hunt
(Wasn't that game awesome?)
But seriously, this espn.com story reports that Disney has sold the Anaheim Mighty Ducks (of Anaheim, presumably) to billionaire Henry Samueli and his wife Susan, whose company operates the Arrowhead Pond which the Ducks call home. Disney bought the team as an expansion franchise in 1992 and may have sold it for between $50-60 million which was the neighborhood of Samueli's first offer.
Is it just me or does now seem like an odd time to buy an NHL franchise? I understand the concept of buying low (if $50+ million is low) and selling high, but doesn't it seem like a significant risk that there may never again be a "high" for the NHL? Maybe that's overly pessimistic, but the popularity of pro hockey in the U.S. was pitiful before the players started demanding more money so it's difficult for me to imagine the fans suddenly pulling a 180 anytime soon after the NHL does return. Even assuming there is a mild boom, who's to say Disney's price would have been driven up much at all? They had been shopping this "mighty" franchise for some time yet garnered no serious interest.
To put it in terms of fantasy sports, this would be like an already sidelined Richard Jefferson losing a leg in a bass fishing accident (God forbid) and then somebody all of a sudden trading for him. It's fuzzy logic. It just seems like a bad business decision.
Then again, I practically live hand-to-mouth so what the hell do I know?
(sidebar: Yes, you just witnessed my first and, in all likelihood, last post about hockey)
Update: The LA Times reports the price tag on this purchase is $75 million. So much for buying low.
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But seriously, this espn.com story reports that Disney has sold the Anaheim Mighty Ducks (of Anaheim, presumably) to billionaire Henry Samueli and his wife Susan, whose company operates the Arrowhead Pond which the Ducks call home. Disney bought the team as an expansion franchise in 1992 and may have sold it for between $50-60 million which was the neighborhood of Samueli's first offer.
Is it just me or does now seem like an odd time to buy an NHL franchise? I understand the concept of buying low (if $50+ million is low) and selling high, but doesn't it seem like a significant risk that there may never again be a "high" for the NHL? Maybe that's overly pessimistic, but the popularity of pro hockey in the U.S. was pitiful before the players started demanding more money so it's difficult for me to imagine the fans suddenly pulling a 180 anytime soon after the NHL does return. Even assuming there is a mild boom, who's to say Disney's price would have been driven up much at all? They had been shopping this "mighty" franchise for some time yet garnered no serious interest.
To put it in terms of fantasy sports, this would be like an already sidelined Richard Jefferson losing a leg in a bass fishing accident (God forbid) and then somebody all of a sudden trading for him. It's fuzzy logic. It just seems like a bad business decision.
Then again, I practically live hand-to-mouth so what the hell do I know?
(sidebar: Yes, you just witnessed my first and, in all likelihood, last post about hockey)
Update: The LA Times reports the price tag on this purchase is $75 million. So much for buying low.
# posted by j.h.k. @ 1:27 PM 
