Insider says Canadian team willing to sell up to major share

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Cooper Godin
May 13, 2024 (10:36)

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The value of National Hockey League teams has gone up quite a bit in the last few years and it's leading some teams to consider selling a portion of their club.

Last year, the Ottawa Senators sold to Michael Andlauer for nearly $1 billion USD and now another Canadian franchise is potentially looking to cash in on the rise in team valuation.

According to David Pagnotta of The Fourth Period, the Calgary Flames are looking at the possibility of selling anywhere from 15 to 30 percent of their club and have talked with interested groups.

"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." Pagnotta said.

It appears that the Calgary Flames aren't the only team to explore this possibility and one deal is reportedly going to be announced next month, Pagnotta is reporting, but he didn't reveal which team it is.

"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 said.

It'll be interesting to see which franchise is selling 15 percent of their club next month, but as Pagnotta says, this is a possibility we could see with other teams going forward. With the value of NHL franchises going through the roof and will continue to in the years to come, it could make the league explore expansion as another source for revenue. Many expect the cost for the next expansion franchise to exceed $2 billion USD.

Source: The Fourth Period - CUP OR BUST MENTALITY FOR TORONTO