Phoenix LXXII: Send in the Clowns
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02-20-2013, 08:07 AM
Join Date: Mar 2012
Location: Guelph, ON
Originally Posted by
This may be a late response, but
your opinion is noted and rejected
. The NHL decided to make the play of purchasing the team from BK and holding on as long as they have. To insinuate any "True Cost" since the BK is more folly than stating a 170 mil asking price.
If I buy a used truck for 20k, then subsequently put in another 5k in repairs does it matter if the actual market value is 15k? I consciously paid too much to begin with, then willingly added to my net cost with the repairs. Just because I really really really want to get out net neutral, doesn't change the fact I'm 10k over market value.
The only way this equation worked in the past was because the COG was willing to kick in for the negative equity. Since they are no longer a willing partner in this plan there is only one choice. Take the truck to a market that is willing to pay 25k.
cool, i didnt know we were allowed to note and then reject an opinion. i shall have to remember that.
fwiw, yes, you were late in responding and had you read the follow-ups, you would have seen that i said nothing about value, let alone market value. i said the nhl can ask whatever it wants for this team. that's what people call an "asking price" and as you graciously point out, it may or may not have anything to do with "value". my point ... and you may want to go back and read the exchange again ... was that the nhl may very well have intentionally priced this team well above any serious local purchasers wherewithal and thus priced it so as not to sell.
im reminded of a home in my old neighbourhood that was listed for well over a million dollars. "whaaat?!" we all wondered, knowing it was severely over-priced, "it's beautiful, but he's never gonna get that for it." hmmm, turns out he wasn't actually trying to sell it, his wife had left him and her counsel was advising they sell the house. still deeply in love with her, he went ahead and listed it, but at an asking price so high he knew it wouldn't sell. of course, it never sold. not being close friends, I have no idea whatever happened to them. but the lesson learned was that sometimes things are priced not to sell.
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