Boston pundit ponders possibility of NHLPA ponying up $60m (half of estimated $120m in losses) and the NHL and NHLPA have joint ownership of a "cash cow" (relocated Phoenix franchise) in Markham.
Ah, what to do with that sad-sack Phoenix franchise that the NHL still owns and just can’t seem to sell at a reasonable price?
Here’s a thought. With developers eager to build a glistening state-of-the-art arena in Markham, Ontario, at the northern tip of Toronto, why not move the franchise there?
The NHL could retain ownership, recoup the lost millions of its failed desert experiment over time, and be a partner in one of sport’s greatest cross-town rivalries. That’s the sort of Manchester United-vs.-Manchester City stew that makes everyone over at Yawkey Way go totally gobsmack.
Now, how to settle this with the Maple Leafs for the Toronto trespass? Forty years ago last week, the Islanders, some 25 miles east of Madison Square Garden, formally took root as an NHL franchise at a total cost of $10 million (roughly one year of Alexander Ovechkin pay by today’s rates). The price included a $4 million “territorial fee’’ paid to the Rangers.
Given the size of the Toronto market (pop. approximately 5 million) and its rabid NHL fan base, the best way to compensate the Leafs could be for the league to retain ownership of the Markham franchise and then hand the Leafs a fair (i.e. negotiated) share of the annual profits, in perpetuity. Each of the other 29 NHL teams would share in the annual cash grab, but the Leafs, because it is their ’hood, would get the biggest chunk.
And let’s not forget, the collective bargaining agreement expires Sept. 15. In the spirit of true partnership and fellow puck love, maybe the new franchise in Markham could be founded as a joint operating agreement between the league and its players. Not only would the Players Association share in the annual profits, or losses, it would once and for all know exactly the source and destination of a franchise’s every penny.
It would mean the working help also would have a seat at the Board of Governors meetings. Oh, to be in the room when the Lords and Lads clink mugs and talk of all things profit and loss.
I.... I can't even wrap my head around this concept, it makes so little sense. Even with the 1/29 share of a veritable cash cow that each owner would receive from a Markham team, you'd have to imagine that every owner would howl if/when they got so much as a B-level talent that someone else wanted for their team. It would simply be unworkable in the long term, and league ownership of a team is only really done as a last minute resort due to either failed or horrible ownership or to prevent a team from moving somewhere they don't want a team.
Also, not seeing why the NHLPA would at all be interested in forking over a big chunk of money like that just to land a team in the GTA.
Idea: Sell the team at a lower than market rate by X amount of dollars and then make the owners make monthly installment on the subtracted X amount until the desired sale price is reached 10-15 years later.
Like putting down a down payment on a house then making the mortgage payments.
Seattle and Markham are just negotiating tools for the NHL to get the best price from PK Peladeau. PK has leverage - the only interested owner who hasn't tried to crap in the punchbowl (sorry Jim) and the NHL will not write another $30 million check to cover losses, so PKP has all the leverage. So PK's going to try and pay a bargain basement price for a bargain basement team.
Hence "Oh, maybe we'll go to Seattle...look, Toronto!" to drive up the price and scare PKP.
This is a silly idea. Owners and players have expiry dates, so there'd be little incentive for them to pony of the initial investment.
I don't think he said the players would own the team, but the players association. Much like the teachers pension fund owned the leafs, the NHLPA as an entity would be an owner not the individual players. Owners would have a certain stake as part of their franchise and that stake would transfer with transfer of ownership of the respective team.
Not saying it would happen ina million years but I don't really agree with the reasons you gave for it not happening