Quote:
Originally Posted by Sidney Crosby's Hat
You'd think that winning the auction should be a no brainer. The value of the land for him is tied to being able to purchase an NHL franchise 3-4 years from now for $1 billion. Anyone else by that point in time, it would probably cost them $2 billion for an NHL franchise by then. So even if he paid $1 billion for the land which is probably 10 times what it's worth, he would make that money back.
And 7-8 years from now he could probably sell that franchise for $2.5 billion the way franchise values in sports are going.
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I think this is their plan (Build a development, sell off the NHL team and own+manage the real estate), but the ability to politically get it done and business wise they don't have the chops.. as they've proven. They can tell themselves all they want that only the players were sold to Utah and they still own the "Franchise" but they just own some logos and an AHL team currently. They're largely viewed as inept in Arizona.