Atlanta Thrashers Will Likely Be Sold For $110 Million

The group that owns the Atlanta Thrashers is looking for $110 million for the NHL club from investors that would include former Atlanta Braves pitcher Tom Glavine.


We valued the money-losing Thrashers at $135 million in December. The Thrashers have made the playoffs only once in their 11 seasons and averaged just 13,403 at Philips Arena this past season, 27th in the league. The attraction for a buyer is that the NBA’s Hawks, who share Philips Arena with the Thrashers, are responsible for the arena’s bond payments (though the basketball franchise is no longer collateral for the bonds). The hockey team is debt-free and under the terms currently being discussed would pay a flat rent that would net the team about $7 million in non-ticket revenue while the owners of the basketball team ran the arena.

If the Phoenix Coyotes do not move to Winnipeg after the NHL unloads the team, then True North Entertainment and Sports will make an offer for the Thrashers. True North would pay $170 million of which $60 million would go the NHL as a relocation fee.

Other than the first two years Ted Turner owned the Thrashers, hockey has never been a financial success in Atlanta. But for $110 million it is worth the risk.

Posted By Matthew Verden