Well well well, guess selling something, anything, for north of $1B isn’t so easy after all.
Some of the coverage of this story is quite funny. Yes, the Leafs haven’t won dork in my entire my lifetime. Neither have the Raptors for that matter. All 40+ years of failure aren’t on the current players, coaches or owners are they? I mean really. After this current group of owners fumbled around for years they appear to have righted the ship, at least on the Leafs side wouldn’t you say? They aren’t winners by any means but it looks like a solid foundation may actually be in place. Emphasis on “may”.
“The pension fund has made lots of money owning MLSE, but despite hiring big names like Bryan Colangelo and Brian Burke, hasn’t figured out ways to move its basketball and hockey properties into the elite of either the NBA and NHL. It can develop and open a good sports bar; winning games has never been something it has done well.
With more than $100 billion in assets, MLSE is but a small part of the pension fund’s holdings, and Leaf fans need to understand that. Even under MLSE, the Leafs are only a part of the puzzle. In a generation, the hockey franchise has gone from being owned by a man who’s sole interest was being the proprietor of the team to being owned by a corporate entity with only a passing interest in the needs of the hockey club.
And there’s no end in sight.”
“Power plays get hold and get cold, go up and down as a season progresses. But if the Leafs can stay in the NHL’s top 10 in this category, it’s a reason to believe.”
There were only 3 suitors for MLSE in my humble opinion; CTV/TSN, Rogers and then private money behind Larry Tanenbaum. The price is insanely high unless it’s a content play. Anytime your listing price begins with a B the odds of selling are remote. Teachers won’t hold on forever, the price may yet have to come down, or the rings start rolling in.
On the flip side, Damien has an interesting article on the Braley Football League. You know the league where one guy owns 1/4 of the teams playing. It was bad enough when two teams were called the roughriders but to have 2 out of 8 teams owned by 1 guy?? Hell why not go the single owner model?? Anyways, it appears that the league now wants to prop up the Argos!
“Still, the league is going to toss some money at the Argos and Hamilton Tiger-Cats to address what is ailing the CFL in southern Ontario, $1 million to be split between the two clubs.
Well, $500,000 in Toronto may buy you some market research and that’s about it. Interestingly, this is the kind of league support that the previous owners of the Argos, David Cynamon and Howard Sokolowski, asked for but were denied access to.”
$500,000? Are you kidding me? What’s that for? Unless they are going to buy all the tickets for every home game and give them to public school kids, they are wasting their time. Admit that Toronto isn’t a CFL town, focus on other markets and perhaps use the dome as permanent grey cup location. Want to talk about burning 500k?? wow.
File this one under innocent until proven guilty, please. It seems that Jay Triano’s dad may be in some Penn State hot water. You can read about Triano’s dad almost everywhere. God, how awful if true.
Happy Friday night.