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NHL team on the verge of being sold according to David Pagnotta
Insider Dave Pagnotta says NHL owners are willing to sell small to large pieces of their franchises to the right buyers, with one team in particular doing it now
Whether you agree or not with where the growth is happening, the NHL is experiencing growth at levels it has never seen before as the world's best hockey league. Investors are taking notice, and David Pagnotta of The Fourth Period says owners are listening.According to Pagnotta, NHL owners who have to approve anyone buying what is considered a major chunk of a team are very open to new shareholders coming in. One team is in the process of selling a chunk right now.
"I'm told a healthy chunk of NHL owners are willing to take on new minority stakeholders, with one club in the process of finalizing a deal to sell 15 percent of that specific franchise. I am not currently at liberty to divulge the team, but that deal is expected to be announced around or in June."
Pagnotta added that the Calgary Flames and others are looking to sell off 15 to 30 percent of the franchise to an approved investor.
"Another team, the Calgary Flames, are actively entertaining the possibility of selling around 15 to 30 percent of their club and have been engaged in discussions with prospective groups. At least four other clubs, that I am aware are, have been doing the same."
The Arizona Coyotes recent sale to Utah for $1.3 billion is proof of the interest in hockey from what are considered non-traditional markets. In a more traditional one, the Ottawa Senators sold in 2023 for just $50 million shy of $1 billion. The NHL is making big strides, and that means more and more interest from people with money.
Source: House of Hockey
Anonymous NHL team is officially being sold per David Pagnotta
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