Ducks to be sold?
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09-14-2004, 11:56 AM
Join Date: Sep 2003
Originally Posted by
Another NHL team and arena may be changing hands in the next few months. The Vancouver Canucks and GM Place deal could be in the $ 250 million range.
It's an awesome deal for McCaw. It is really complicated, but when you sort it all out, this represents a massive capital gain for McCaw. The rink and team cost him about $200 million, but he has already realized a $75 million US capital gain on the Grizzlies. Between that and the General Motors fee for naming rights, the rink is paid for. Extract that - and never mind the depreciation on the building over 10 years - and McCaw has turned $60 million Canadian into $250 million Canadian.
Buy low, sell high. Get richer.
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