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As we all know, professional sports teams are worth a lot of money. There are a limited number of them, and very often they are “products” that bring in a lot of money for the owners.
That’s why they’re so coveted, and why everyone wants a piece of the action.
Elliotte Friedman reported this afternoon that the Tampa Bay Lightning are getting some action. In fact, the club is reportedly in the midst of a sale process, with an estimated transaction price of around $2 billion.
Tampa Bay Lightning amidst sale process, valuing team at close to $2Bhttps://t.co/fWSK1MEfzM
– Elliotte Friedman (@FriedgeHNIC) August 13, 2024
Current team owner Jeff Vinik (who bought the club for $170 million in 2010) is reportedly in talks with Doug Ostrover. That said, according to current reports, Vinik would remain an important part of the organization, retaining control for the next few years.
Once again, the details are not yet clear, as the transaction has not yet been completed. However, discussions are serious and advanced.
What’s causing a stir is the amount of the transaction. Michael Andlauer bought the Senators for $950 million, but in the case of the Lightning, we’re talking about double that.
And the news comes at an interesting time, as earlier today, the Sportico website shared its updated ranking of the value of North American sports teams. The Lightning’s value, estimated at $1,250,000,000, is therefore less than the transaction price in the air.
In fact, the transaction price is closer to the value of… the Canadiens, which is estimated at $2.27 billion.
For those with a
here’s the @Sportico valuations across all the major North American leagues.
1. @dallascowboys – $10.32B
…
153. @cfmontreal – $440M pic.twitter.com/KxRdECdKGB– Eben Novy-Williams (@novy_williams) August 13, 2024
here’s the It’s worth noting that in the rankings, it’s CF Montreal that’s at the very bottom.
Of course, it’s not surprising to see a club sold for more than its estimated value. That said, if you consider that the Lightning, a team that plays hockey in Florida, is in the process of selling for the estimated value of the Habs (the team with the most history in the NHL), you have to wonder what Geoff Molson might get if he sold his team tomorrow morning.
We know it’s not in his plans… but you’d think he could possibly get at least $3 billion.
The prices are far from those of NFL and NBA teams (and even several MLB teams), but we’re still talking about a very high-priced transaction for a team that, despite three Stanley Cup wins since 2004, is still in the Florida market and wasn’t worth “much” (that’s relative, of course) a decade ago.
I wonder if the owners of the Panthers, who just saw their club win the Stanley Cup, are taking a close look at the whole thing. And I imagine that those who’d like to bring a team back to Quebec City will take the plunge when they see the amount.
Digital Products Overtime
– Let’s not forget that he was the one Marc Bergevin wanted for Max Pacioretty. In the end, he settled for Nick Suzuki…
And now hearing Cody Glass being traded from Nashville to Pittsburgh
– Elliotte Friedman (@FriedgeHNIC) August 13, 2024
– Zach Bogosian defends his former teammate.
“He’s as good a person and teammate as anyone”
– TVA Sports (@TVASports) August 13, 2024
https://t.co/jkmscTQbXv– Tyson Philpot injury: Danny Maciocia doesn’t like what he hears.
Maciocia: I don’t think its great news on Philpot https://t.co/S8xcq79uri
– TSN 690 Montreal (@TSN690) August 13, 2024
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“As we all know, professional sports teams are worth a lot of money. There are a limited number of them, and very often they are “products” that bring in a…”
Source Link: https://dose.ca/2024/08/13/2-billion-the-lightning-would-be-sold-for-the-same-price-as-the-estimated-value-of-the-habs/
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