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In the midst of professional hockey's 310-day lockout and labor negotiation, Walt Disney Co. sold the Mighty Ducks for $75 million last year, half the original asking price for the Anaheim, California, team.
It may have been a steal for the buyer, Broadcom Corp. Chairman Henry Samueli.
After forging a new contract that cut player pay by 24 percent and added a team salary cap, the National Hockey League says its 30 team owners will save $400 million this season. That is adding investment luster to the franchises by boosting team valuations, according to bankers and owners.
Today, Samueli's team is worth only slightly less than the $130 million-to-$150 million value on the one NHL franchise up for sale, the St. Louis Blues, says Randy Campbell, a Societe Generale managing director.
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"The Samueli organization seems to have done a better job of matching revenue and expenses,'' says Societe Generale's Campbell, 45, who has arranged financing for several NHL teams as head of the firm's sports advisory and finance practice in New York.
It may have been a steal for the buyer, Broadcom Corp. Chairman Henry Samueli.
After forging a new contract that cut player pay by 24 percent and added a team salary cap, the National Hockey League says its 30 team owners will save $400 million this season. That is adding investment luster to the franchises by boosting team valuations, according to bankers and owners.
Today, Samueli's team is worth only slightly less than the $130 million-to-$150 million value on the one NHL franchise up for sale, the St. Louis Blues, says Randy Campbell, a Societe Generale managing director.
...
"The Samueli organization seems to have done a better job of matching revenue and expenses,'' says Societe Generale's Campbell, 45, who has arranged financing for several NHL teams as head of the firm's sports advisory and finance practice in New York.
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