From Friedman 32 Thoughts.
He also discussed it on the After The Whistle Podcast Today
25. It didn’t get a lot of attention at the Board of Governors’ meeting, but the most influential move made there was the NHL agreeing to allow private equity funds to buy into NHL teams. Commissioner Gary Bettman was tight-lipped regarding details, as it's more about the realities of COVID’s effect on the business than something he had incredible enthusiasm for. Front Office Sports reported this week that teams can sell up to 30 per cent of their ownership to such firms; and these firms can own parts of up to five teams -- maximum 20 per cent in any team, with a minimum $20M (US) investment in each one. The first such investor, Arctos Sports Partners, bought into both Minnesota and Tampa Bay. This development is going to strengthen current ownership groups that wish to use them.