The bidding of stars to become minority owners of the Ottawa Senators could propel the NHL franchise to new heights, while allowing them to protect their fortunes.
Experts admit it may come as a surprise for hockey fans to learn that celebrities such as Ryan Reynolds, Snoop Dogg and possibly The Weeknd are interested in investing in this project, but they remind that this kind of opportunity presents itself. very rarely.
“When we talk about professional sports, we are talking about a system similar to that of a cartel. There are only 32 teams, so 32 seats,” explained Brock University sports management professor Michael Naraine.
“Teams like the Ottawa Senators, despite never having won the Stanley Cup and not performing that well on the ice, still arouse envy. It’s the kind of opportunity that makes celebrities want to own sports franchises,” he continued.
Naraine pointed out that the arrival of a star in the fold of the Senators could allow the Ontario franchise to be more visible in non-traditional markets.
Reynolds, who has partnered with a group specializing in the development of real estate projects wishing to submit a purchase offer of more than 1 billion US, has expressed its desire to create a television series focusing on the Ottawa team in the image from the one he developed with his production company called Welcome to Wrexham. This is about the Welsh soccer team Wrexham AFC, of which he is co-owner.
The Board of Directors of Senators Sports & Entertainment began the process of selling the Senators last November, following the death of owner Eugene Melnyk. The latter left the NHL franchise as a legacy to his daughters, Anna and Olivia.
The deadline for notifying the Senators of an interest in buying the team has been set for May 15.
Snoop Dogg, an avid hockey fan, said he would use his shares in the Senators to help grow hockey in the United States, especially among young African Americans.
“It would create excitement, which in turn would attract new fans, new sponsors, and more visibility. The base of supporters would no longer be limited (to the National Capital Region), but would extend to the rest of Canada, and even to the four corners of the world,” mentioned Naraine.
“If you’ve been a die-hard Senators fan since the 1990s, then you’d love to know that one day, perhaps, an Ottawa Senators jersey could end up in a movie of the series. Dead Pool “, he underlined.
Concordia University sports economist Moshe Lander pointed out that owning shares in a sports concession is a safe way for a celebrity to invest, in addition to allowing him to grow his assets most of the time. He pointed out that Melnyk bought the Senators — who play in a “relatively modest” NHL market, according to Lander — for just $92 million two decades ago.
“This team has always relied on interchangeable, anonymous players. This is the definition of modesty. And yet, the value of the concession has multiplied by 10 in 20 years,” Lander said.
“When a celebrity comes into the picture, then that celebrity has the ability to monetize the value of shares in the team beyond just the market value of the team,” he continued.
This opportunity is made all the more attractive by the ongoing negotiations between the Senators and the National Capital Commission for the development of a real estate project including a new amphitheater on LeBreton Flats, just west of downtown. from Ottawa.
“How can you grow your investment in a hockey team if it doesn’t aspire to the Stanley Cup every year? What we have learned over the past twenty years is that sports franchises have this unique ability to be able to unlock discussions for highly coveted lands that otherwise would not be,” Naraine mentioned.
“There is obviously a popular desire in the National Capital Region to erect a new amphitheater in downtown Ottawa,” he said.
Lander added that the offer from Reynolds’ group “meets all the criteria” of the NHL, as he has the experience necessary “to generate interest in the sport, beyond the simple experience of watch a match “.
“That’s what he’s accomplished with this fifth division soccer team (Wrexham) that no one outside of this market would have known otherwise. Suddenly, everyone is excited about this very real adventure at the Ted Lasso summed up the economist, referring to the television program featuring an American who tries to revive a British soccer team.
“From an NHL perspective, they’re going to be like, ‘Great, we’re going to have an owner who will create content for us, who has demonstrated that they’re able to create content that will engage people who otherwise wouldn’t. ‘would have no interest in the thing'”, he concluded.