Penguins Sold for…..How Much???

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Frank Underwood
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Penguins Sold for…..How Much???

Post by Frank Underwood »

The original rumors said the Penguins were going to be sold for maybe $700-$750 million. If you’re a member of the Blues ownership group, that should put a smile on your face! But I just saw that the deal is done and the sale price was $900 million. Wow, the NHL continues to do well, despite Betman being a weird little dude!

https://www.hockeyfeed.com/nhl-news/the ... nKRpuKtzH8
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Grogu
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Re: Penguins Sold for…..How Much???

Post by Grogu »

Frank Underwood wrote: 28 Nov 2021 18:47 pm The original rumors said the Penguins were going to be sold for maybe $700-$750 million. If you’re a member of the Blues ownership group, that should put a smile on your face! But I just saw that the deal is done and the sale price was $900 million. Wow, the NHL continues to do well, despite Betman being a weird little dude!

https://www.hockeyfeed.com/nhl-news/the ... nKRpuKtzH8
I had read somewhere that Mario was going to remain as a minority owner. Smart for both sides. Mario gets to join the Fenway group, with all of their interests, while Fenway keeps the face of the franchise, the local savior who gets to keep tabs on the team and operations.

Interesting tidbit about John Henry- he made out quite well after being born in Quincy, Illinois to parents who were soybean farmers.

“A rising tide raises all boats.” Happy for the Blues ownership group headed by Tom Stillman, who believed and invested in the Blues.
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dhsux
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Re: Penguins Sold for…..How Much???

Post by dhsux »

I know revenue and expense management are huge to running a good company.

But it's the asset growth that makes the killing.
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bluetunehead
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Re: Penguins Sold for…..How Much???

Post by bluetunehead »

Grogu wrote: 28 Nov 2021 20:09 pm
Frank Underwood wrote: 28 Nov 2021 18:47 pm The original rumors said the Penguins were going to be sold for maybe $700-$750 million. If you’re a member of the Blues ownership group, that should put a smile on your face! But I just saw that the deal is done and the sale price was $900 million. Wow, the NHL continues to do well, despite Betman being a weird little dude!

https://www.hockeyfeed.com/nhl-news/the ... nKRpuKtzH8
I had read somewhere that Mario was going to remain as a minority owner. Smart for both sides. Mario gets to join the Fenway group, with all of their interests, while Fenway keeps the face of the franchise, the local savior who gets to keep tabs on the team and operations.

Interesting tidbit about John Henry- he made out quite well after being born in Quincy, Illinois to parents who were soybean farmers.

“A rising tide raises all boats.” Happy for the Blues ownership group headed by Tom Stillman, who believed and invested in the Blues.
If I recall correctly his group was interested in buying the Cardinals at the time that DeWitt did.
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TAFKAP
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Re: Penguins Sold for…..How Much???

Post by TAFKAP »

It's going to be interesting to see what happens with team valuations going forward. I think the values keep going up because the TV contracts keep going up, but, with Sinclair on the verge of bankruptcy what happens to team finances if those payments go away? This was the only link I could find that wasn't behind a paywall.

https://thirdbridge.com/transcripts/sin ... mber-2021/
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Tony Palazzolo
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Re: Penguins Sold for…..How Much???

Post by Tony Palazzolo »

TAFKAP wrote: 29 Nov 2021 07:07 am It's going to be interesting to see what happens with team valuations going forward. I think the values keep going up because the TV contracts keep going up, but, with Sinclair on the verge of bankruptcy what happens to team finances if those payments go away? This was the only link I could find that wasn't behind a paywall.

https://thirdbridge.com/transcripts/sin ... mber-2021/
Someone would step in to be sure. Live sports is the last decent way to advertise since most watch it live. On the other hand I've been surprised that most of the streaming services still haven't picked them back up. We switched to Direct TV streaming after Youtube dropped them. My wife loved Youtube and didn't want to switch. I told her we'd go back when they picked it back up. They are losing a lot of revenue from not being on those platforms.
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TAFKAP
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Re: Penguins Sold for…..How Much???

Post by TAFKAP »

Tony Palazzolo wrote: 29 Nov 2021 07:18 am
TAFKAP wrote: 29 Nov 2021 07:07 am It's going to be interesting to see what happens with team valuations going forward. I think the values keep going up because the TV contracts keep going up, but, with Sinclair on the verge of bankruptcy what happens to team finances if those payments go away? This was the only link I could find that wasn't behind a paywall.

https://thirdbridge.com/transcripts/sin ... mber-2021/
Someone would step in to be sure. Live sports is the last decent way to advertise since most watch it live. On the other hand I've been surprised that most of the streaming services still haven't picked them back up. We switched to Direct TV streaming after Youtube dropped them. My wife loved Youtube and didn't want to switch. I told her we'd go back when they picked it back up. They are losing a lot of revenue from not being on those platforms.
That's the issue though. Fox signed these billion dollar contracts with teams and all the fans celebrated the influx of cash without realizing THEY are the ones paying for it. Bally's has been dropped by everyone but Charter in STL because the cost increase would be too much for the average subscriber. That's the reason Sinclair is going under.
St. Louis Blues - 2019 Stanley Cup Champions!!!!!
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STLBlueshistory
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Re: Penguins Sold for…..How Much???

Post by STLBlueshistory »

TAFKAP wrote: 29 Nov 2021 07:24 am Bally's has been dropped by everyone but Charter in STL because the cost increase would be too much for the average subscriber.
That's incorrect.

I get Bally's nice & clear on Uverse.

Article in the Post last week said the Blues ratings are higher than ever.
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Tony Palazzolo
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Re: Penguins Sold for…..How Much???

Post by Tony Palazzolo »

TAFKAP wrote: 29 Nov 2021 07:24 am
Tony Palazzolo wrote: 29 Nov 2021 07:18 am
TAFKAP wrote: 29 Nov 2021 07:07 am It's going to be interesting to see what happens with team valuations going forward. I think the values keep going up because the TV contracts keep going up, but, with Sinclair on the verge of bankruptcy what happens to team finances if those payments go away? This was the only link I could find that wasn't behind a paywall.

https://thirdbridge.com/transcripts/sin ... mber-2021/
Someone would step in to be sure. Live sports is the last decent way to advertise since most watch it live. On the other hand I've been surprised that most of the streaming services still haven't picked them back up. We switched to Direct TV streaming after Youtube dropped them. My wife loved Youtube and didn't want to switch. I told her we'd go back when they picked it back up. They are losing a lot of revenue from not being on those platforms.
That's the issue though. Fox signed these billion dollar contracts with teams and all the fans celebrated the influx of cash without realizing THEY are the ones paying for it. Bally's has been dropped by everyone but Charter in STL because the cost increase would be too much for the average subscriber. That's the reason Sinclair is going under.
Only the streaming services such as Youtube and Hulu Live have gotten rid of it. You can still get on it on several other services. This may be permanent situation since they haven't made a move to get them back. Which is fine really. If you don't care about them why pay for them.
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Grogu
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Re: Penguins Sold for…..How Much???

Post by Grogu »

bluetunehead wrote: 29 Nov 2021 02:16 am
Grogu wrote: 28 Nov 2021 20:09 pm
Frank Underwood wrote: 28 Nov 2021 18:47 pm The original rumors said the Penguins were going to be sold for maybe $700-$750 million. If you’re a member of the Blues ownership group, that should put a smile on your face! But I just saw that the deal is done and the sale price was $900 million. Wow, the NHL continues to do well, despite Betman being a weird little dude!

https://www.hockeyfeed.com/nhl-news/the ... nKRpuKtzH8
I had read somewhere that Mario was going to remain as a minority owner. Smart for both sides. Mario gets to join the Fenway group, with all of their interests, while Fenway keeps the face of the franchise, the local savior who gets to keep tabs on the team and operations.

Interesting tidbit about John Henry- he made out quite well after being born in Quincy, Illinois to parents who were soybean farmers.

“A rising tide raises all boats.” Happy for the Blues ownership group headed by Tom Stillman, who believed and invested in the Blues.
If I recall correctly his group was interested in buying the Cardinals at the time that DeWitt did.
I didn’t know that. Thanks for the info.