Bruce Firestone, whose group bought the Senators 33 years ago as an expansion franchise for $50 million, says the team could end up selling for $1 billion.
and various billionaires and real-estate moguls are no doubt weighing the implications and adjusting their numbers. There are reportedly six bids in total, each playing for more than money, according to Firestone."If you understand the psychology of billionaires, they don't like losing and they don't like being shown up," he said. "Their competitive instincts are aroused. They hate losing.
"The other four are probably an irrelevance. Otherwise they would recognize the value in trying to build their own hype," he said. "They haven't built the fan interest."Still, they could win if they put up a considerably bigger number. Forbes recently valued the Senators at $800 million, but news of the pending sale has raised expectations for a sale about the $1 billion mark.
Mayor Mark Sutcliffe said he has met with six or seven different interested parties, and called the level of interest "a tremendous vote of confidence for the City of Ottawa."Ottawa Mayor Mark Sutcliffe and NHL Commissioner Gary Bettman speak to the media prior to a game between the Florida Panthers and the Ottawa Senators at the Canadian Tire Centre in March.
If she were still in her old role, she would have been secretly hoping for the Reynolds bid to succeed. By contrast, the other bids aren't so obvious. Snoop Dogg, in particular, would cause her "some trepidation." He might work well in Los Angeles or Chicago, but the Ottawa hockey market is more conservative in her view.
The NHL has also prioritized appealing to more diverse audiences, she noted, and either celebrity would be an invaluable megaphone to reach them.
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