Firm offers new $4 billion bid for NHL

[Madferret]

TSN.ca Staff with Bloomberg files
5/22/2005

Bloomberg Business News reports that Bain Capital LLC, one of America's most reputable companies and buyout firms, has increased its bid for the National Hockey League by at least $500 million to more than $4 billion. Sources familiar with the proposal told Bloomberg that Bain and Game Plan LLC, a firm that arranges the sale of professional sports teams, made the new offer on Friday.

"We haven't given up, that's for sure," Game Plan chairman Bob Caporale told Bloomberg. Caporale declined to confirm that a revised offer was submitted to the league. NHL spokesman Frank Brown told Bloomberg, "I will not confirm any aspect of what you're reporting." The firm pitched NHL owners a proposal to buy the entire league for more than $3 billion US at a league board of governors' meeting in March. But top officials with several clubs characterized Bain's presentation as merely an interesting information session that barely lasted half an hour and won't be given much thought in the future.

The proposal would see all 30 teams run out of a central office, setting team payroll budgets before the season started and distributing revenues to each club.

http://images.tsn.ca/images/stories/20050210/bettman_730.jpg

[a4l]

It sounds like an interesting way of running the league but if they do manage to buy it say goodbye to hockey as we know it. They could change the rules at a whim plus it will be totally American owned. :conspire:

[Amoroq]

Well it would be one way to manage the league as one but it just wouldn't have the same feel. It would probably get run like the WWE. Each year before the season they will have a meeting to determine the winner and storylines ;)

[nhldave]

The NHLPA must be quaking in their boots at the thought of this. It would mean the end of their nice little golden goose. Player salaries would be a fraction of what they are now. Players would have no say in how things are run, they'd just be employees who will have to do what they are told or get lost.

Wait a minute, what a perfect thing to come along to frighten the players into dealing with the NHL. Hmmm could this be a plot by Bettman and Co? :eek:

[a4l]

Wait a minute, what a perfect thing to come along to frighten the players into dealing with the NHL. Hmmm could this be a plot by Bettman and Co? :eek:

I hadn't thougth of it that way but you do have a point. :conspire: