While some hockey fans may be surprised by multiple celebrities facing off for a minority ownership stake in the NHL's Ottawa Senators, experts who study the business of sport say the prospect stands to lift the team's profile to new heights, while serving as a safe way for stars to park their money.
Vancouver-born actor Ryan Reynolds and American rapper Snoop Dogg have both confirmed their interest, while Toronto recording artist The Weeknd has reportedly also thrown his hat into the ring.
The board of directors of Senators Sports & Entertainment initiated the process to sell the team last November after the death of owner Eugene Melnyk earlier that year. Melnyk left the franchise to his daughters Anna and Olivia.Reynolds is attached to a bid worth more than US$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.
"What it would do is generate buzz and awareness so that you get more fans, you get more sponsors, you get more attention. It creates more fandom, not just in the , but across Canada, around the world," Naraine said. "When 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."
Lander said the Reynolds bid "checks off all the boxes" for the NHL, as he brings experience "getting eyes onto a sport that goes beyond just watching the event itself."
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