Jan 31, 2013, 9:00 PM EDT
After announcing he’d purchased shares from a pair of former investors in the organization, Sharks majority owner Hasso Plattner sat down with a group of reporters to discuss owning a hockey team.
Specifically, how it doesn’t make him any money.
“You cannot make money with a hockey team,” he explained. “You cannot make money with a hotel, either, and you cannot make money with a golf club. I have all three of them (laughs).”
Here’s more, from CSN Bay Area’s Kevin Kurz:
Investors Kevin Compton and Stratton Sclavos, who were the acting figureheads of the company, have sold their shares to Plattner, it was announced by the team on Wednesday.
The reasons for their decision and departure are private…
…“We want to continue as much as possible the same way,” said Plattner, who had a majority share of the company even before acquiring Compton’s and Sclavos’ shares.
“We still want to have a championship team and win the Stanley Cup. That’s clearly the number one objective of a sports club, otherwise you should not be in the sports business.”
Plattner also wants to make sure the Sharks, who claimed a loss of $15 million last season, have a sustainable business model. He has no fantasies of turning a major profit, though.
“The financial situation is not better this year than last year,” he said. “On the other hand, I said this to the employees, don’t worry. My credit line is good enough, if you look it up.
Plattner is the co-founder of SAP, one of the world’s largest software companies. According to Forbes, he is the world’s 127th richest man and has a net worth of approximately $7.2 billion.
The golf club/resort he owns is the Fancourt Estate in South Africa, which features a luxury hotel and four Gary Player-designed courses — its links course hosted the 2003 Presidents Cup.
So as you can see, the man has quite the financial portfolio and sporting background. Why, then, invest in a hockey team he readily admits can’t make money?
“Despite it’s such a hard sport, and tough sport, and sometimes violent, it is aesthetically unbelievable when you see the guys and what they can do on skates at the tempo,” he said.
“This is missing in soccer.”
Aug 21, 2014, 11:00 PM EDT
He’ll have a battle to make the NHL next season.
Aug 21, 2014, 10:00 PM EDT
He died in the plane crash that killed the Lokomotiv Yaroslavl team in 2011.
Aug 21, 2014, 9:00 PM EDT
The NHL changed the process for the Draft Lottery on Wednesday.
Aug 21, 2014, 7:33 PM EDT
We know it’s not surprising, but just go along with it.
Aug 21, 2014, 6:24 PM EDT
A Stanley Cup and a Conn Smythe in separate years is a nice legacy.
Aug 21, 2014, 5:15 PM EDT
No one scored more Pens goals than he did the past three seasons.
Aug 21, 2014, 4:08 PM EDT
Call it an audition if you want.
Aug 21, 2014, 2:39 PM EDT
“He has instructed me to do all I can to facilitate a return to the Twin Cities.”
Aug 21, 2014, 2:04 PM EDT
He was quite good.
Aug 21, 2014, 1:11 PM EDT
“Nor is he very smart to have made untrue defamatory statements such as these.”
Aug 21, 2014, 12:32 PM EDT
“I talked with Todd today, and he never mentioned anything about captains or assistant captains.”
Aug 21, 2014, 11:47 AM EDT
All the first-time NHL head coach has to do is get Pittsburgh to the promised land. No biggie.
Aug 21, 2014, 10:40 AM EDT
Or until a successor is found.
Aug 21, 2014, 10:01 AM EDT
The 23-year-old defenseman may get a real shot this season.
Aug 21, 2014, 9:00 AM EDT
They were teammates in Calgary for two seasons.
Aug 21, 2014, 8:00 AM EDT
The pressure is on Sid and Geno now after a summer of change.
Aug 20, 2014, 11:00 PM EDT
And it was all The Great One’s idea.
Aug 20, 2014, 10:00 PM EDT
He can be an unrestricted free agent next summer.
Aug 20, 2014, 9:02 PM EDT
Recovery from offseason wrist surgery put things in doubt.
Aug 20, 2014, 7:55 PM EDT
He missed most of last season with a torn ACL.
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