While some hockey fans may be surprised by for a minority ownership stake in the NHLB次元官网网址檚 Ottawa Senators, experts who study the business of sport say the prospect stands to lift the teamB次元官网网址檚 profile to new heights. It is also seen as a safe way for stars to park their money.

and rapper Snoop Dogg have both confirmed their interest, while Toronto recording artist The Weeknd has reportedly also thrown his hat into the ring.

For film or music stars interested in owning a professional sports team, the opportunity simply doesnB次元官网网址檛 come around often, said Michael Naraine, associate professor of sport management at Brock University.

B次元官网网址淲hen you think about professional sport, it is a cartel-like system. There are only 32 teams, only 32 seats,B次元官网网址� he told The Canadian Press. B次元官网网址淭eams like the Ottawa Senators, even though theyB次元官网网址檝e never won the Stanley Cup and they are not doing so hot momentum-wise on the ice, theyB次元官网网址檙e still highly coveted. ThatB次元官网网址檚 the kind of impetus for why celebrities are now wanting to get into sports ownership.B次元官网网址�

The board of directors of Senators Sports & Entertainment the team last November after Eugene Melnyk earlier that year. Melnyk left the franchise to his daughters, Anna and Olivia.

Reynolds is attached to a bid worth more than $1 billion led by real estate developer Remington Group, while Snoop Dogg announced he is part of a bid spearheaded by Los Angeles-based businessman Neko Sparks. The Weeknd has agreed to be a partner in a bid led by Toronto billionaires Jeffrey and Michael Kimel, according to the Ottawa Sun.

A listed the Senators at $800 million, 24th out of the NHLB次元官网网址檚 30 teams.

Concordia University sports economist Moshe Lander said owning a sports franchise is a safe way for celebrities to invest, often with exponential returns. He noted Melnyk purchased the Senators B次元官网网址� who play in what Lander called B次元官网网址渁 middling NHL marketB次元官网网址� B次元官网网址� for $92 million two decades ago.

B次元官网网址淚tB次元官网网址檚 a cast of otherwise forgettable players. ItB次元官网网址檚 the epitome of average. Yet the value of the franchise has gone up 10 times in 20 years,B次元官网网址� Lander said. B次元官网网址淲hen you bring celebrity into the story, then celebrity has the ability to monetize that ownership stake beyond just the appreciation of the value of the team.B次元官网网址�

Reynolds has expressed interest in creating a television series about the team through his production company, Maximum Effort, similar to its hit reality show, B次元官网网址淲elcome to Wrexham,B次元官网网址� about the Welsh soccer team the actor co-owns.

Lander said the Reynolds bid B次元官网网址渃hecks off all the boxesB次元官网网址� for the NHL, as he brings experience B次元官网网址済etting eyes onto a sport that goes beyond just watching the event itself.B次元官网网址�

B次元官网网址淗eB次元官网网址檚 done that for that fifth-division, (British) soccer team that nobody outside of that market would have ever heard of. All of a sudden, people are caught up in the real-life B次元官网网址楾ed Lasso,B次元官网网址橞次元官网网址� said the economist, referring to the television show of an American who helps coach a U.K. soccer team looking for a comeback. B次元官网网址淔rom the NHLB次元官网网址檚 standpoint, theyB次元官网网址檙e going to say, all right, we bring on an owner who is going to create content for us, whoB次元官网网址檚 shown proof of concept in being able to create content in an area where people would otherwise not care, and somehow get them to care.B次元官网网址�

Snoop Dogg, a longtime hockey fan, has said he would use his stake in the Senators to help grow the sport in the U.S., especially among Black children.

The deadline for interested groups to submit final non-binding offers is May 15.

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