Quote:
Originally Posted by dino7c
If it's all about money and nothing else there are far better and less stressful investments out there. These guys didn't get wealthy from owning sports teams.
|
Oh? What other type of investment has more than 5x value over the last 13 years?
Forbes 2010 value of NHL franchises:
https://www.forbes.com/2010/11/30/le...h=6f12177a5553
2023 values:
https://www.sportico.com/feature/nhl...st-1234693065/
Using our principal owner as an example, the value of his main corporate holding (CNRL) has only gone up ~2.5x it's share price while dealing with much more stressful and concerning problems (rise of shale competition, landlocked supply, etc.)
There is no way you can say that the sports franchise has been more stressful or time consuming than running CNRL, and as far as investments go it seems to be performing exceptionally well. Did they get rich from ownership of hockey clubs? No. But it has made them much more wealthy.
Current ownership group interests began around 1981, when the team was purchased from Skalbania by a group including Harley Hotchkiss for $16 million. So, 16 million to ~1.14 billion over 22 years.