A fascinating article about a real-life hypothetical. During the 2004-5 NHL lockout, the owners heard a pitch from Bain Capital to buy the ENTIRE LEAGUE for $3.5 billion. The article then explains why the offer was turned down and how the league might have looked like if the league had in fact accepted the offer. The author then goes on to shed light on many of the financial issues facing the league today, as well as the decisions that got it into its present mess. It's an excellent and thought-provoking read.
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