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Unnamed NHL team reportedly close to being sold

Published May 14, 2024 at 2:48 PM

As the NHL continues expanding amidst a growing fan base, Insider David Pagnotta has reported that team owners are now looking to sell shares of their franchises, with one team leading the pack.

It should come as no surprise that the NHL, like any other business, is always looking to increase its revenue. Yet with the rapidly growing league and fan base, it appears that team owners are looking to make this extra buck by selling parts of their franchise.

According to Insider and Editor-in-Chief of the Fourth Period, David Pagnotta shared that team owners have garnered the attention of several investors. Additionally, one unnamed team is reportedly in the process of selling a large share of their franchise with an official announcement set to be made in June.

"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 this team was not alone in this business strategy. The Calgary Flames are reportedly one of five teams the analyst is aware of current discussions about selling 15 to 30 percent of the team.

"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."

With the President and CEO of the Flames John Bean stepping down, this could be part of a massive move for Calgary and other teams looking to make drastic changes to their team.

"🔥📰 Per @jkamckenzie, Calgary #Flames President and CEO John Bean will be stepping down after 14 and a half years with the team.

Robert Hayes has been named as the organization's next president and CEO, and Lorenzo DeCicco becomes the team's next Chief Operating Officer."

With numerous franchises taking massive shifts in how they run their team, we will likely see more of the league become open to shareholding. Yet, with the playoffs taking the forefront, hockey fans may just have to wait to see how this develops.

Source - Markerzone
NHL team on the verge of being sold according to David Pagnotta
May 14   |   311 answers
Unnamed NHL team reportedly close to being sold

Will team shareholding as expected for the Calgary Flames become a regularity in the NHL?

Yes20064.3 %
No11135.7 %
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