Quote:
Originally Posted by Locke
You would own it as long as your days. Thats the point.
I've banged this drum many, many times but I'll reiterate, hockey teams dont make much money on operations. They try, but operations essentially cover...well...operations.
However the Calgary Flames were purchased in 1980 for $16M. Adjusted for inflation thats about $60M today.
Forbes says that today they are valued at $680M.
https://www.forbes.com/teams/calgary...h=53c768231905
Not a bad return. Even factoring in years of losses, losses which were probably funneled into the owner's other more profitable businesses, or just held for when the Flames did turn profits.
Not a bad return on investment either way you slice it. Its like a toy that pays for itself. |
Yep owning a Picasso or Rembrandt probably costs money too. I imagine there is some degree of maintenance and care required with no operating income coming in. Yet private art collectors seem to like owning such things.