Quote:
Originally Posted by The Yen Man
How much of True North Entertainment does David Thompson own anyways? Depending on how much he owns, the only thing Winnipeg may have is an owner with deeper pockets, seeing as Thompson is the richest guy in Canada (net worth of over 20 billion vs. Murray Edwards, who only has around 2 billion). But then again, these guys didn't become billionaires by investing long term in a losing business model. So I guess the real question is, how much are the Jets willing to lose every year to have a competitive team?
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Actually, David Thomson became a billionaire when his dad died, and there isn't any evidence that he would be wealthy otherwise. Also, he hasn't exactly done a bang up job managing the family money. His primary accomplishments since taking over in 2006 have been:
1) Thomson corp value destructive merger with Reuters. Thomson corp stock down ~10% in the 7 years he's been in charge. The TSX is up ~10% and the S&P up ~35% in that time, so its been a pretty significant underperformance.
2) Paid up for the Jets. The jury is still out on this one, (see the controversy in this thread) But the idea that it can't fail because this rich guy is so smart is deeply flawed.