Friday, February 25, 2005

Disney sells the Ducks

The Walt Disney Company has agreed to sell the Mighty Ducks of Anaheim to Henry Samueli, the man who runs Arrowhead Pond where the team plays hockey. The Ducks are a posterboy franchise for Bettman's ill-fated expansion into non-traditional markets with weak hockey ownership. Hockey has not been a consistent sell in Orange County. That said, the team was sold in probably the worst market conditions the NHL has had in ages (due to a lockout) by a motivated seller (Disney wanted to get out of the hockey game) for something in the $50 to $60 million range. Disney paid $50 million for their expansion. So even selling under poor circumstances in a poor market, teams increase moderately in value. Imagine what could have been made if they sold high? And for this problem, the NHL is locked out and we dont get to see any games. Does that make it all worth while for the fan?

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