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Sunday, March 06, 2005

nhl- Sell, Sell, Sell

from the rockymountainnews, Who is nuttier, the guys who offer to buy the National Hockey League or the National Hockey League that refuses to sell?
Figure this: a business that swears it has lost $500 million the past two years finds someone who wants to give it $3.5 billion, maybe more.
It has lost an entire season, strangely reassured because it lost less money by staying out of business than it could make doing business. And someone comes along and wants to get the whole bunch off the hook.
At $3.5 billion for the NHL, that means each of the 30 franchises would be worth around $115 million. Who else is offering $115 million?
Even for the Avalanche, which has been valued at more than twice that. Something is worth only what someone will pay for it.
And the offer might go even higher.
Here's what we know about hockey. It has failed at free enterprise, unable to market itself, make money, control its costs or survive its own competition. It simply cannot work as other sports do - overpaying its stars. For one thing, it has no stars.
It has tried to be the NBA and it can't. It will never be the NFL. Major league baseball, for all its stumbles and faults, has roots too deep to ever be killed.