Stifler
May 23rd, 2005, 01:34 AM
Do it, just do it:
Bloomberg Business News reports that Bain Capital LLC, one of America's most reputable companies and buyout firms, has increased its bid for the National Hockey League by at least $500 million to more than $4 billion.
Sources familiar with the proposal told Bloomberg that Bain and Game Plan LLC, a firm that arranges the sale of professional sports teams, made the new offer on Friday.
"We haven't given up, that's for sure," Game Plan chairman Bob Caporale told Bloomberg. Caporale declined to confirm that a revised offer was submitted to the league.
NHL spokesman Frank Brown told Bloomberg, "I will not confirm any aspect of what you're reporting."
The firm pitched NHL owners a proposal to buy the entire league for more than $3 billion US at a league board of governors' meeting in March. But top officials with several clubs characterized Bain's presentation as merely an interesting information session that barely lasted half an hour and won't be given much thought in the future.
The proposal would see all 30 teams run out of a central office, setting team payroll budgets before the season started and distributing revenues to each club.
Bloomberg Business News reports that Bain Capital LLC, one of America's most reputable companies and buyout firms, has increased its bid for the National Hockey League by at least $500 million to more than $4 billion.
Sources familiar with the proposal told Bloomberg that Bain and Game Plan LLC, a firm that arranges the sale of professional sports teams, made the new offer on Friday.
"We haven't given up, that's for sure," Game Plan chairman Bob Caporale told Bloomberg. Caporale declined to confirm that a revised offer was submitted to the league.
NHL spokesman Frank Brown told Bloomberg, "I will not confirm any aspect of what you're reporting."
The firm pitched NHL owners a proposal to buy the entire league for more than $3 billion US at a league board of governors' meeting in March. But top officials with several clubs characterized Bain's presentation as merely an interesting information session that barely lasted half an hour and won't be given much thought in the future.
The proposal would see all 30 teams run out of a central office, setting team payroll budgets before the season started and distributing revenues to each club.