Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Go Back   Calgarypuck Forums - The Unofficial Calgary Flames Fan Community > Main Forums > Fire on Ice: The Calgary Flames Forum


Thread Tools
Old 07-13-2017, 01:07 PM   #21
SebC's Avatar
Join Date: Mar 2006
Location: where the lattes are

Originally Posted by neo45 View Post
They still tend to appreciate in value while losing money.
Yes, that's the amazing part of it.

Interestingly, Forbes had them as the lowest value team in the league at $230M. Only 12 teams had a $500M Forbes valuation in 2016.
SebC is offline   Reply With Quote
Old 07-13-2017, 01:14 PM   #22
Lifetime Suspension
Join Date: Dec 2007

Originally Posted by Hot_Flatus View Post
Another one of those "why is this team even here" franchises if you ask me. The fact that someone bought the team for that much money and is not moving it anytime soon makes you wonder....
The team did much better in Hartford, in terms of attendance and profit margin. It was the ego of Karmanos that moved the team into an unproven market, after negotiations with the Connecticut Government broke down, in regards to funding a new arena in Hartford.

Doctor Karmanos' Traveling Road Show debuts. "Anywhere But Hartford" seems to be opening number. Columbus, Raleigh, Minneapolis, St. Paul, even Las Vegas are mentioned as possible relocation sites. Eyes roll when Karmanos announces that the team is considering renovating a 55-year-old, abandoned Ohio aircraft hangar as a temporary home until a new arena can be built in Columbus.

Karmanos calls the Columbus proposal -- a 25-year lease under which the operator would pay $3 million in annual rent to the convention facilities authority and $200,000 a year to the community -- a "significantly better deal" than the offer he received to stay in Hartford.

"That's a situation I don't want to find myself in ever again," he says. "I'm going to put myself in a market that will work financially."

Karmanos tells an Ohio TV station that Columbus is his number one choice. The broadcaster asks him to repeat it. He does. A week later in North Carolina, Karmanos denies Columbus is the front-runner. Karmanos also notes his team now is "formerly the Hartford Whalers." Asked to propose some new names, Karmanos smiles, suggesting Cyclones or Hurricanes. Karmanos tours the Greensboro Coliseum, a possible interim site where the team will play for two seasons while a new arena is built in Raleigh, and pronounces it a "first-class facility."


It was even rumored that Karmanos wanted to work out a deal to move the team to the Palace in Auburn Hills, Michigan to compete with his long time arch-nemesis Mile Illitch, for the Detroit market, but the NHL would never allow it. Karmanos would later anger other NHL owners by offering Sergei Federov a 4-year $28 million dollar contract, with $16 million to be paid out on the condition that he helps his team advance to the Conference Finals. The deal was structured in a way that put the Wings at a huge disadvantage, since they were defending Stanley Cup champions, and most likely to make the Conference Finals again, while the Hurricanes were battling for the final playoff spot. Illitch matched the Canes off, regardless.

I'm actually surprised it took 20 years for Karmanos to sell the team. At one point he was losing $25 million a season.
ToewsFan is offline   Reply With Quote
Old 07-13-2017, 01:19 PM   #23
Franchise Player
Calgary4LIfe's Avatar
Join Date: Jun 2010

I, for one, hope that Carolina can do well now. I always liked them. I think a bigger shame is a past cup-winning team relocates.

Besides, they beat Edmonton. I love Carolina.
Calgary4LIfe is offline   Reply With Quote
The Following User Says Thank You to Calgary4LIfe For This Useful Post:
Old 07-15-2017, 10:27 AM   #24
Crash and Bang Winger
Young_Guns's Avatar
Join Date: Jan 2015

Carolina Hurricanes $500 Million Sale Is Fake News

Yes, Chuck Greenberg is trying to buy the money-losing NHL franchise. But all Greenberg has right now is a non-binding letter of intent. Moreover, the real price (enterprise value) is nowhere near $500 million (perhaps the $500 million includes future money the potential buyer is promising to put into the team?), according to my sources.

And by the way, Greenberg is not even close to raising the money to buy the Hurricanes. Not even for $400 million.
Young_Guns is offline   Reply With Quote
The Following User Says Thank You to Young_Guns For This Useful Post:

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

All times are GMT -6. The time now is 03:15 AM.

Calgary Flames

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Copyright Calgarypuck 2016