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Market price for Duck

Stanley Cup loss likely won't impact Disney's sale price

Posted: Tuesday June 10, 2003 7:10 PM

LOS ANGELES (AP) -- Speaking to financial analysts last week, Disney Chairman Michael Eisner joked that if the Mighty Ducks of Anaheim won the Stanley Cup, it would add $10 million to the asking price as the entertainment giant seeks a buyer for its hockey team.

"If not, we can make a deal out in the hall," Eisner quipped.

Monday night, the Ducks failed to win their first-ever National Hockey League championship, losing to the New Jersey Devils in the seventh and deciding game.

But analysts said winning or losing the trophy wouldn't make much difference.

"I don't think the price is going to change," said David Miller, an analyst with Sander Morris Harris. "They're not going to command a premium in the NHL because they're in a very small market."

Last month, Disney sold the Anaheim Angels for $183 million -- not considered a premium price -- after the team's 2002 World Series championship.

Other factors such as a team's payroll, size of the market and number of other teams up for sale carry far more weight than the results of one season, analysts said.

Miller estimated that Disney could fetch between $85 million and $105 million for the Mighty Ducks. The company has not said how aggressively it is marketing the team or if there are any bidders.

"It's a very well-managed hockey club," Miller said. "I don't think the price is going to change."


 
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