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Bruce Dowbiggin

Celebrity Owners– Fun, Yes, But The Equity Is Even Better

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In case you hadn’t noticed. Celebrity Sports Ownership is all the rage. When the Ottawa Senators were for sale Ryan Reynolds, Snoop and The Weeknd were all mentioned among the bidders (that eventually went to Montreal businessman Michael Andlauer). LeBron James now holds a minority position with Liverpool FC.

Jay-Z owns part of the Brooklyn Nets, Usher a piece of the Cleveland Cavaliers while Fergie of Black Eyed Peas fame also partly owns the Miami Dolphins. Gloria and Emilio Estefan, Marc Anthony, and tennis superstars Serena and Venus Williams are owners of pro sports teams. Famously, Elton John owned Watford FC, although he’s now just an honorary chairman.

And, of course, Reynolds and Rob McElhenney used a documentary TV series that showed their Welsh Wrexham soccer team promoted to the FA’s League Two. What’s the attraction?

Clearly a little PR is always a good thing. But sports team ownership has also become a lucrative equity play. As BMO reports, “The average compound annual growth rate since the last purchase price…  is 15 percent, a meaningful outperformance to the TSX and S&P.  Forbes estimates the Toronto Blue Jays are currently worth US$2.1 billion or roughly C$2.85 billion.

Based on recent sports franchise transactions, expansion fees and annual estimations of franchise values by Forbes Magazine, an $8 billion enterprise value is easily defendable for the Jays’ owners MLSE (who also own the Maple Leafs, Toronto FC and Argonauts).”

It’s the same across the major pro sports leagues. The estimated average franchise value in the NFL since 2013 is $5.1B with a compound annual growth rate (CAGR) of 16 percent; in the NBA it is $2.9B with a CAGR of 18 percent. For MLB it is $2.3B with a CAGR of 12 percent; the NHL is $1.0B with a CAGR of 11 percent; while MLS is $0.6B with a CAGR 21%.

But, BMO cautions, owning a sports franchise is considered “an equity investment strategy rather than a cash flow or income play.” In other words, don’t think that ticket sales and hot dogs are going to make you rich. (Although the NHL’s salary cap, which guarantees owners’ profits is a sweet deal.) The key is sports media which is thriving despite the move to cord cutting..

Sports media rights contracts have grown in tandem with franchise valuations. Not to be ignored in the advertising growth and viewer interaction is the bear knowns as legalized sports betting. Betting companies are flooding the airwaves with commercials while bettors tune in to watch how their selections work out. The casinos and online shops have replaced lower-paying traditional advertisers who’ve dropped off.

In Canada, league or team ownership of broadcast properties is still common. For that reason the real value of those broadcast rights is often opaque. (We had some irritated pushback from Rogers and Bell for writing on this tidy arrangement in the mid 2010s, forcing some limited disclosures). Rogers Sportsnet and TSN own (via MLSE) own a stable of teams in MLB, NHL, CFL and MLS. Good luck finding out what they pay themselves for media rights.

It’s more open in the U.S. Since the New York Yankees pioneered the YES network in 2002— sparking multiple imitators in other markets—the move in the U.S. has been away from outright ownerships of regional sports networks. A number of RSNs in the U.S. are either in bankruptcy or nearing it. Digital and network sources are now absorbing these sources. ESPN, via its owner Disney, is looking to find partners for its many broadcast properties as their bottom line in general has suffered.

Still, ESPN’s legacy business generates revenue and operating income of approximately $12.5 billion and $4.0 billion in 2023. It remains to be seen what new model emerges in the U.S. to answer cord cutting and the death of conventional TV. The NFL’s experiment on Monday, having two MNF games compete on separate networks is one experiment.

In Canada’s monopolistic market, “TSN/RDS penetration rates have declined at a quicker pace than ESPN over the past 10 years. ESPN penetration has dropped from 81 percent of U.S. households in 2013 to 56 percent in 2022, while TSN/RDS penetration has decreased from 89% of Canadian households in 2013 to 49 percent in 2022.

In addition, BMO admits that cord cutting is a thing. “SportsNet subscribers have decreased -23 percent to 5.8 million over the same period. Subscriber and advertising revenues are 60 percent and 40 percent of total revenue, respectively. Since 2017, TSN revenues have increased 13 percent. TSN subscribers have decreased -29 percent to ~7.8 million over the same period.”

But! In the last five years, TSN and SN have increased advertising revenues by 13 percent and 15 percent respectively. The same figure for the top five Canadian non-sports channels (collectively) is six percent. Thank you legalized wagering in Ontario. So who wouldn’t want a piece of this action, especially in Canada?

The red flag in this surging equity market comes in the form of smaller Canadian NHL markets. The Senators sale for $950 suggests a healthy interest in owning, but the Sens sale was also tied into the new LeBreton Flats arena. Ownership or control of a Canadian arena means more than NHL games. It also includes revenue from concerts, rallies, monster-truck events etc.

Even with that can Andlauer produce a winner just two hours from the Montreal Canadiens market? Likewise, the Winnipeg Jets are desperately in need of a larger arena to replace the 15,321 Canada Life Centre. Having Canada’s richest man, David Thomson, as an owner is no guarantee of getting one. And should Thomson tire of being the saviour of a losing Jets hockey property, who in that market has C$1-2B lying around needed to fund the franchise properly?

Likewise, the Calgary Flames. Despite the political press conference this summer about as new agreement the arena that management promised by 2013 has still not seen a shovelful of dirt turned over. The latest gaffe was architect’s drawings for the rink being rejected by the NHL due to inadequate dressing-room space. Start again.

Should the rink not be available till 2025-26 will an evolving ownership group still be interested in shelling out the money to keep the Flames (and Stampeders, Roughnecks and Hitmen) operating in Calgary? And if they don’t, because losing sucks? While energy-rich Calgary has plenty of billionaires, few will want to risk the money needed to keep a competitive team in a small market.

Connor McDavid’s brilliance plasters over the same small-market crack in Edmonton. Yes, they have their new building, but can owner Darryl Katz fund the moves need to keep his stars and build a winner? Vancouver, owned by the Aqulini family, has a larger market base, but with Seattle Kraken just two hours away can they too write the cheques needed to create the first Stanley Cup winner since the Canucks entered the NHL in 1970.

If these Canadian markets do survive longterm it might have to be with foreign ownership. Certainly there is money to be made riding the equity train. But there also no guarantees that those carpetbagger owners might replicate the Montreal Expos and scoot to richer markets.

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Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, he’s a regular contributor to Sirius XM Canada Talks Ch. 167. Inexact Science: The Six Most Compelling Draft Years In NHL History, his new book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via http://brucedowbigginbooks.ca/book-personalaccount.aspx

BRUCE DOWBIGGIN Award-winning Author and Broadcaster Bruce Dowbiggin's career is unmatched in Canada for its diversity and breadth of experience . He is currently the editor and publisher of Not The Public Broadcaster website and is also a contributor to SiriusXM Canada Talks. His new book Cap In Hand was released in the fall of 2018. Bruce's career has included successful stints in television, radio and print. A two-time winner of the Gemini Award as Canada's top television sports broadcaster for his work with CBC-TV, Mr. Dowbiggin is also the best-selling author of "Money Players" (finalist for the 2004 National Business Book Award) and two new books-- Ice Storm: The Rise and Fall of the Greatest Vancouver Canucks Team Ever for Greystone Press and Grant Fuhr: Portrait of a Champion for Random House. His ground-breaking investigations into the life and times of Alan Eagleson led to his selection as the winner of the Gemini for Canada's top sportscaster in 1993 and again in 1996. This work earned him the reputation as one of Canada's top investigative journalists in any field. He was a featured columnist for the Calgary Herald (1998-2009) and the Globe & Mail (2009-2013) where his incisive style and wit on sports media and business won him many readers.

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Bruce Dowbiggin

Hunting Poilievre Covers For Upcoming Demographic Collapse After Boomers

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For those not familiar with hunting seasons in Canada it may come as a surprise that the nation has a year-round hunting season. That would be the targeting of Conservative leader Pierre Poilievre by the massed army of Liberals, their bots and the richly endowed media pack. Forget he’s never held power. He’s to blame for the ills in Canadian society.

It has been a good hunt. After floor-crossing by dissident CPC, the Liberals are one seat from the majority that Canadian voters denied them in the spring. (They’ll likely get the majority soon.) MPs who a day earlier were at Conservative Xmas parties suddenly sang the praises of Carney. MPs in ridings targeted by the Chinese suddenly joined Team Elbow Up.

All the while the media corps landed blows from their perch. Robert Benzie: “I know that Premier [Danielle] Smith is very unhappy privately with Pierre Poilievre because she thinks that [MOU motion] is undermining this [pipeline] project.” The nadir of the media dog pile was formerly eminent scribe Robert Fife who sniped, “Conservatives persist with cute legislative tricks, while the government tries to run a country.” Run a country. That’s rich.

From his lips to Liberal brains, however. “.@CBCNews and @AlJazeeraWorld viewers consider themselves uniquely informed, says @ElectionsCan_E report. The two TV networks were named by self-described “informed” voters when asked where they got their news.

It is, seemingly, a great time to be a Liberal. Or not. While Operation Poilievre was gathering steam for Xmas polling revealed that Liberals and Conservatives remain locked in a tie, and Canadians continue to express ambivalence about the country’s direction, mixed feelings about their leaders, and sharp divides by generation, region, and policy concern. These generational discrepancies continue to be buried.

As was the case in the spring, the Liberals are supported only by the Boomer generation that swallowed Elbows Up nostalgia like a fat man on a donut. The under 60s demo at every level shows the current Carney agenda is a loser for them. In the segment of house-rich Boomers the Libs lead 50-31 over CPC. But in every other category it’s “how can I get out of here faster?”

The 45-59 demo it’s 46-36 Conservatives; 30-44 it’s a whopping 48-31 CPC; 18-29 it’s 40-39 CPC. A healthy chunk of Liberal supporting from the collapse of NDP vote. Where they used to poll in the 20s, the highest demo shows 11 percent support. Otherwise Poilievere would be PM.

Meanwhile, research now finds that 54 percent of Canadians say the growing number of newcomers to the country threatens our traditional customs and values— an increase of sixteen points since 2020. Over the same period, the share of Canadians who say immigration strengthens our society fell thirteen points to 35%

In short, the Carney Circus of marrying Canada to China and the EU is a card trick that will be exposed shortly. But where do we see the Ottawa press corps attention to this impending demographic snow plow? As we wrote in March  “It’s not hard to see the (under 60s)  looking at the Mike Myers obsession with a long-gone Canada and saying let’s get out of here. 

Recently former TVOntario host Steve Pakin attended two convocations. The first at the former Ryerson University, (switched to Toronto Metropolitan University in a fit of settler colonizer guilt.) The second at Queens University, traditionally one of the elite schools in the nation. Here’s what he saw.

“At the end of the (TMU) convocation, when Charles Falzon, on his final day as dean of TMU’s Creative School, asked students to stand and sing the national anthem, many refused. They remained seated. Then, when the singing began, it was abundantly noticeable that almost none of the students sang along. And it wasn’t because they didn’t know the words, which were projected on a big screen. The unhappy looks on their faces clearly indicated a different, more political, explanation.

I asked some of the TMU staff about it after the ceremony was over, and they confirmed what I saw happens all the time at convocations. Then I texted the president of another Ontario university who agreed: this is a common phenomenon among this generation at post-secondary institutions.” 

At Queens, where Canadian flags were almost non-existent, O Canada was sung, but the message of unrest was clear: “Convocation sends a message of social stability,” Queen’s principal Patrick Deane  began in his speech.  “It is a ceremony shaped in history. You should value your connection to the past, but question that inheritance. Focus on the kind of society you’d like to inhabit.”

You can bet Deane is not telling them to question climate change and trans rights. As Paikin observes, “if we fail to create a more perfect union, we shouldn’t be surprised when a vast swath of young people don’t sing our anthem the way so many of the rest of us do.” So why are the best and brightest so reluctant to see as future in becoming the new professional class that runs society?

In the Free Press River Page searched the source of their discontent. “If the Great Recession, Covid-19, and the spectre of an artificial intelligence-assisted ‘white collar bloodbath’ has taught the professional class anything, it is that their credentials cannot save them. This insecurity, compounded by the outrageous cost of living in many large cities, has pushed the PMC’s anxieties to the breaking point. 

“Add that to the triumph of identity politics in professional class institutions like universities, corporate C-suites, non-governmental organizations, and media—itself a byproduct of inter-elite competition as many have observed—and what you have is the modern left.

“… they’ve already come to the baffling conclusion that there’s no difference between class struggle and child sex changes. More to the point, the socialist mantra “From each according to his ability, to each according to his need” has only ever stood the test of time in Anabaptist sects. It requires a religious devotion to self-sacrifice that is not characteristic of this anxious and hyper-competitive class—as many actual socialists have spent the last decade warning.”

The tsunami over immigration has caused severe dislocations— as PM Steven Harper predicted in the 2015 election debate. He was shouted down by the dopey dauphin Justin Trudeau who opened the sluice gates to every kind of progressive nonsense. Which is now evident.

Like all people addicted, CDN Boomers don’t want the truth. They want performance theatre, T-shirts and hockey games. They blame Trump for their predicament, caught between grim realities. Will they take the 12 steps? Or will their kids have to tell them the facts as they escort them to the home?” We’re now seeing the likely answer to that question everywhere in Canadian society.

Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, his 2025 book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His new poetry collection In Other Words is available via brucedowbigginbooks.ca and on Kindle books

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Bruce Dowbiggin

NFL Ice Bowls Turn Down The Thermostat on Climate Change Hysteria

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Oh, the weather outside was frightful. But the football was so delightful. Week 15 of the NFL season was a cryogenic success of snow and sub-zero temperatures. Here were the temperatures at game time this weekend.

Chicago: -11 degrees C.

Cincinnati: -12 degrees F.

Kansas City: -8 degrees C.

New England: -2 C (with an 87 percent chance of snow).

Philadelphia: -2 degrees C.

New York -1 degree C.

Pittsburgh: -7 degrees C.

For fans of NFL football none of this seemed out of character with late-season football. There are legendary games played in arctic conditions. The windchill for the 1967 Dallas/ Green Bay NFC championship was -25 C.

Chargers at Bengals: Jan. 10, 1982 (-24 C, feels like -39 C).

Seahawks at Vikings in NFC wild-card matchup Jan 10, 2016. -21 C with wind chill -25C

Dolphins at Chiefs: Jan. 13, 2024 (-4 degrees, feels like -27 degrees)

As recently as last week’s Bills win over the Bengals games are often played with drifts of snow on the field and the mercury bottoming out. While Canada’s Grey Cup game is played at the end of November it’s still had some brutal weather history of its own.

The point of this meteorology meandering is that, according to our good King Charles III and many other doomsday cultists the concept of snow and cold was supposed to be a figment of the past by now. For almost half a century Michael Mann and the climate prophets of IPCC have been predicting the end of snow and the onset of warmist floods and burning forests. They gambled trillions of the public’s dollars on the certainty that the public would buy computer modelling and data-distortion predicting doom.

For decades it has worked. The careers of people like critic Mark Steyn have been ruined, heretics declared and fortunes dissipated by the trust-fund fanatics who bankroll wackadoodles like Stephen Guilbeault, the convicted felon who Trudeau made Minister of the Environment. No matter how absurd or devious the source, it was a gospel that the fiery inferno was coming next Tuesday. But the weather has remained stubbornly resistant to Elizabeth May’s catechism of climate.

Yet, some dedicated climate advocates and their followers are finally changing their tune in the face of their own observation of lying liars like Al Gore and Greta Thunberg. The share of Americans who say climate scientists understand very well whether climate change is occurring decreased from 37 percent in 2021 to 32 percent this year. A similar October study from the University of Chicago’s Energy Policy Institute found that “belief in human-driven climate change declined overall” since 2017.

Reports the uber-liberal L.A. Times: “The unraveling of climate catastrophism got another jolt recently with the formal retraction of a high-profile 2024 study published in the journal Nature. That study — which had predicted a calamitous 62% decline in global economic output by 2100 if carbon emissions were not sufficiently reduced — was widely cited by transnational bodies and progressive political activists alike as justification for the pursuit of aggressive decarbonization. 

But the authors withdrew the paper after peer reviewers discovered that flawed data had skewed the result. Without that data, the projected decline in output collapses to around 23%. Oops.”

Even stalwart media apologists for climate hysteria like the Times are starting to have doubts. Under the headline “The left’s climate panic is finally calming down” they describes “Erstwhile ardent climate-change evangelist Bill Gates published a remarkable blog post addressing climate leaders at the then-upcoming COP30 summit. Gates unloaded a blistering critique of what he called ‘the doomsday view of climate change,’ which he said is simply “wrong.”

Trump-besotted American Democrats seeking to soften their Woke image before the 2026 midterms are likewise carving out more moderate positions on climate “that could well deprive Republicans of a winning political issue with which to batter out-of-touch, climate-change-besotted Democrats. But for the sake of good governance, sound public policy and the prosperity of the median American citizen, it would be the best thing to happen in a decade.”

Sadly Canada under Mark Carney remains a staunch climate warrior. The removal of Guilbeault as federal Environmental Minister may have seemed a step toward sanity, but there is no hint that the billions of dollars from hidden money spigots will be closed down any time soon. The B.C. government’s acquiescence to the climate propaganda of Indigenous bands shows no sign of abating. Indeed, it is just ramping up in the land claims that threaten to make home ownership a thing of the past.

PM Mark Carney is a dedicated temperature fabulist going back to his days as governor of the Bank of England. His first fights in Canada were over taxing carbon and hobbling her energy industry. As we wrote in this November 2024 column, the certainty in which the Canadian Left revels is actually dividing, not uniting citizens.

So perhaps if enough citizens spend an afternoon shivering in the stands of a wintertime football game we might achieve a small piece of sanity and learn that that , while climate is always changing, it’s not worth the price we’ve paid this century.

Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, his 2025 book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His new poetry collection In Other Words is available via brucedowbigginbooks.ca and on Kindle books.

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