More often than not, a person buys a team (or an airline) just for bragging purposes. Or the New York Post or Wall Street Journal. That being said, I would agree with SummersEve that a lot of this is tax-driven. I don't trust what owners in any of the professional sports leagues in the U.S. show as their balance sheets; it's way more complicated than what's coming in and what's going out with respect to that particular team. You have to look at it in the greater context of all of the owner's holdings and how losses or profits in one area offset those in another and how those businesses otherwise interrelate. (Although I might take issue with the implication in Weedy's comment that an investment can be "far too profitable," although I suppose there's ample room to debate at what level taxes on an investment might be set and what other special considerations from the government should or shouldn't apply.) I think hockey team owners also buy into the industry for the possibility of hanging out in that super-swinging hockey lifestyle and maybe getting some table scraps, if you know what I mean. (Previously discussed here, with this delicious link (audio).)
Garfield and holden, Thanks for the excellent links and all the great comments in this thread so far. Thanks Gang. Certainly seems to be a case of a win win for the Sellers and the Buyers plus the players have seen their take increase %25 since the CBA came about after the lock-out. Soaring ticket prices and the fans be dammed is the montra of the new look NHL. Thanks Bettman. Now, if only Bill Wirtz would get a clue and find a new owner for the Blackhawks!
Speaking of the super-swinging lives of hockey team owners, former Sabres owner goes to jail. Hey, looky there, he'll be right up the road a piece in Butner, NC. Maybe he'll catch a Canes game or two on the radio.
I'll echo the comments about "buying a team for bragging purposes." Most of the people in a position to even consider such a purchase can lose a couple hundred million and carry on without losing any sleep. It's the last status symbol for the super-rich. If you can afford a pro sports team, there's not much you can't afford.
