Monday, May 23, 2005

New offer to take over NHL?

The deal would have to be approved by the owners of all 30 NHL teams. -- Bloomberg Business News is reporting that a new offer, worth more than $4 billion, has been made for the purchase of the entire National Hockey League.  Bain Capital LLC, which made a $3.5-billion offer for the NHL in March, has reportedly raised its bid, although a spokesman for the league categorically refused to confirm the new bid.  "I will not confirm any aspect of what you're reporting," League spokesman Frank Brown was quoted as saying.  Bloomberg reports that Bain has proposed operating the 30-team league with a single owner, which may help drive down player salaries and boost profitability, and that all NHL owners would have to agree for the offer to be accepted.

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