Quote:
Originally Posted by Locke
What kind of financial wizard borrows money to buy a hockey team?
Whatever way you want to characterize it, it was his money, etc, he borrowed money to buy a long-term appreciating asset that generates annual operating losses.
Its no secret that the key in making any money in owning a hockey team comes from the appreciating value of the franchise and then selling it.
But in the meantime you've got loan payment responsibilities, operating expenses and interest.
|
I'm not sure if he originally borrowed money to buy the team, but this 100+ million was to keep the team afloat. He has been owner of the franchise since 1994.