inflation these days — even nhl teams are getting more expensive
FlashyChapter
Anyone know what percentage of the team the Molson family now owns?
EmTeeEl
The thing is this includes the bell center and groupe evenko, no?
SlapThaBass
Why was I never informed of this stake sale?
JaD__
The article notes an enterprise value of US$2.5B. Enterprise value (EV) is the sum of market value – in this case, the going rate for the equity in a private sale – and net debt.
I’m assuming there is material debt, given the extent to which the org’s real estate was quickly expanded and noting the hockey club and Evenko don’t generate enough free cash flow (FCF) to finance those projects debt-free – not that you’d want to – nor, along with the real estate’s FCF, likely sustain that kind of pure equity valuation.
All to say, words matter. A 10% equity stake wouldn’t necessarily be worth US$250M to Andlauer, unless the author of the original article was playing fast and loose with “enterprise value”.
If not, and leaning on the Forbes debt/value estimate – which may or may not include the real estate division, who the fuck knows – I’m eyeballing something around US$200M.
7 Comments
The Molsons bought it.
Did Andlauer sold his 10% at $250M?
inflation these days — even nhl teams are getting more expensive
Anyone know what percentage of the team the Molson family now owns?
The thing is this includes the bell center and groupe evenko, no?
Why was I never informed of this stake sale?
The article notes an enterprise value of US$2.5B. Enterprise value (EV) is the sum of market value – in this case, the going rate for the equity in a private sale – and net debt.
I’m assuming there is material debt, given the extent to which the org’s real estate was quickly expanded and noting the hockey club and Evenko don’t generate enough free cash flow (FCF) to finance those projects debt-free – not that you’d want to – nor, along with the real estate’s FCF, likely sustain that kind of pure equity valuation.
All to say, words matter. A 10% equity stake wouldn’t necessarily be worth US$250M to Andlauer, unless the author of the original article was playing fast and loose with “enterprise value”.
If not, and leaning on the Forbes debt/value estimate – which may or may not include the real estate division, who the fuck knows – I’m eyeballing something around US$200M.
Only Michael Andlauer knows…and he’s not telling.