Coming off of a solid season at the gate, the Brampton Beast (ECHL) are looking to secure local investors to purchase stakes in the team.
Last season at the Powerade Centre, the Beast saw another gradual increase in per-game average attendance. The club averaged 3,106 fans per-game for the 2016-17 season, an increase over its averages from both the 2015-16 season (2,784) and the 2014-15 season (2,572).
The Beast will now seek additional investors. Beast owner Gregg Rosen is putting close to half his share of the team on the market, with the plan being to recruit multiple investors to buy stakes in the team while he retains a 51% interest. Interested investors are expected to meet with team president Cary Kaplan, and the club is hoping to attract local individuals. More from The Canadian Press:
Kaplan and local businesswoman Tina Larsen thought the franchise would get a boost by adding co-owners from Brampton or the Greater Toronto Area. The goal, Kaplan said Wednesday, is to find investors interested in a 5-10 per cent stake in a team he estimates is worth between $5-10 million.
Rosen, a businessman based in Kingston, Ont., owns 97 per cent of the team and Kaplan owns the remaining three per cent. Instead of an auction, the plan is to sell stakes at a fixed price with Rosen retaining a share of 51 per cent.
It’s hoped that local co-owners will help create more awareness for a team brand still in its relative infancy.
“The idea is that if we get eight to 10 … people within driving distance, they could talk it up, be active in the community,” Kaplan said. “We think it’ll help grow the ticket base and sponsorship.”
The Beast played the 2013-14 season in the Central Hockey League, before beginning play in the ECHL for the 2014-15 season. They are the ECHL affiliate of the Montreal Canadiens.