Quote:
Originally Posted by Finger Cookin
@FriedgeHNIC
Word on CAR sale is Dundon buys a touch over 50 per cent at $460M. Option to buy rest is valued at $550M
Am I mis-reading this, or is this valuing the Hurricanes at $1.01B? The whole thing being worth $450M-$550M even seems high. The recently published Forbes' valuations pegged the Canes at $370M. ¯\_(ツ)_/¯
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Friedman just worded it wrong.
Elliotte Friedman @FriedgeHNIC
I understand your confusion, but no. It means the 50.01 per cent now is that much of $460M, and in three years, the other 49.99 is that percentage of $550M.
He is saying that 50.01% of $460 plus 49.99% of 550M for a totat purchase price of $505 million