Professional sports franchises don't come up for sale often — especially Canadian NHL teams — and according to a University of Guelph professor, that means there could be considerable interest in buying the Ottawa Senators.
Fans hold up signs in response actor Ryan Reynolds confirming his interest in buying the Ottawa Senators at the NHL game in Ottawa on Nov. 8, 2022.
Ann Pegoraro, the chair of sports management at the university, said someone with deep pockets would need to buy the team,"Given the rising valuations of most sport franchises, it is now common to have multiple owners," she said in an email.Moshe Lander, a sports economist with Concordia University, said the logistics of a sale aren't all that different from buying a house.
"What the NHL does on purpose is make sure that not every market has a team, and that creates an excess demand," he said. "The supply of sports franchises for sale is limited overall, and more so in hockey, so all of these factors together make the Senators attractive." Lander said most teams don't make much profit in the year-to-year operations of the team, and the real value is discovered when a team is sold.
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