NHL Said to Have Backup Ducks Plan

The NHL has a plan to take over the Mighty Ducks should the Walt Disney Co. try to sell the team for less than what the league thinks is market value, a source familiar with the situation said Friday.

League executives, concerned about the value of other franchises, would purchase the team from Disney then find a buyer, the source said. The NHL has stepped in to run teams previously, most recently when it took over Buffalo in 2002. But the league did not buy the then-bankrupt Sabres; it maintained the team until a buyer could be found.

Disney, which is entertaining a few offers for the team, is not likely to complete a sale until a new collective bargaining agreement is reached to end the owners’ lockout. The NHL would make a move only if the Ducks were to be sold at a reduced price.

Asked about a plan to take over the Ducks, Frank Brown, spokesman for the NHL, had no comment Friday.

The Ducks are valued at $108 million by Forbes magazine, but that number appears high when compared with recent NHL team sales.

Buffalo was sold for about $93 million and Ottawa for about $100 million, both in 2003, but those deals also included the arenas. The Arrowhead Pond, the Ducks’ home arena, is owned by the city of Anaheim and run by a management company.

Disney paid a $50-million expansion fee to enter the NHL in 1993. It has had the team on the market for three years.

Michele Nachum, a spokeswoman for Disney, said, “We are not aware and don’t believe the NHL has any such plans. The facts do not support the premise.”

Meanwhile, Henry Samueli, whose company operates the Pond, and a group headed by Howard Baldwin, former Pittsburgh Penguin owner, have stepped up their efforts to purchase the team, a sources familiar with the negotiations said.

H and S Ventures, which handles investments for Samueli, is expected to improve on its offer after being told its initial bid was too low. There are said to be four groups who have bid on the team, and H and S Ventures had the lowest of those offers, according to a source.

“We have continuing discussions with Disney,” said Michael Schulman, spokesman for H and S Ventures. “We’re still interested in pursuing the team.”

Samueli’s interest spawns, in part, from a team lease that has made it difficult for the Pond to turn a profit. Money that would otherwise go to the arena has been given to the Ducks. Furthermore, the Ducks are the arena’s main tenant and Samueli could not risk the team being sold and then relocated.

Baldwin too is said to have altered his initial offer of $50 million, made in September.

But Disney officials may be content to wait. Team values could increase once the lockout ends if the owners get the financial system they are seeking.

The NHL wants to make sure that the Ducks do not go in a fire sale, which could devalue other teams. The Pittsburgh Penguins and Phoenix Coyotes are also reportedly for sale, and other teams could be put on the market once a new collective bargaining agreement is in place.

The Ducks were among the NHL’s most profitable teams their first four seasons. They sold out 90 of 93 games during one three-season stretch and the team merchandise sales ranked among the tops in sports, along with the Oakland Raiders, Dallas Cowboys, Chicago Bulls and New York Yankees, during the 1990s. But the team lost about $12 million during the 2002-03 season, despite reaching the Stanley Cup finals, and about $28 million last season.