Explore the nuances of buying, selling, and valuing junior hockey teams through the insights of industry expert Cary Kaplan. Whether you're passionate about hockey or interested in sports investments, this episode uncovers what it truly means to own a sports team.

In this episode:

• Cary Kaplan's background in sports marketing and team management since 1995
• The landscape of junior hockey in Canada and how it has evolved
• How teams are valued — beyond profits — driven by scarcity and passion
• Common reasons owners sell their teams, including family and passion-driven decisions
• The typical costs and current market values for junior hockey teams
• The role of ownership passion versus financial motives in team transactions
• How teams continue to increase in value due to demand, not profitability
• The process and discretion behind buying and selling teams
• Advice for prospective buyers: financial considerations and passion as primary drivers
• The broadening scope of sports organizations Cary works with, including non-traditional sports

Timestamps:

00:00 - Introduction to Cary Kaplan and his expertise in sports management
01:08 - Cary's journey from playing sports to sports marketing leadership
02:10 - How Cosmos Sports was founded and its role in Canadian sports
02:53 - The landscape of junior hockey and educational pathways for players
03:48 - The importance of education alongside sports ambitions
04:33 - The spectrum of junior hockey levels and leagues in Canada and the US
05:57 - Key services provided to hockey teams (fan experience, sponsorship, ownership transitions)
07:06 - Valuing sports teams: scarcity and passion outweigh profitability
07:53 - Ownership turnover and passion-driven reasons for selling teams
09:39 - The current market value range for junior hockey teams
10:47 - How to buy a team: discreet process and the role of brokers like Cosmos Sports
13:02 - Diversity of sports organizations Cary works with, from hockey to archery
14:39 - Financing and the importance of having sufficient funds before buying
15:22 - The misconception of teams as profit centers; passion and community are key
16:36 - The impact of demand on team valuation and future prospects
17:47 - The appeal of owning junior teams rooted in passion, community, and love for the sport
19:10 - Final advice for those interested in entering sports ownership

Discover how Kaydee Duhamel managed her family's hockey journey while navigating the financial challenges that came with the sport. This episode shares personal insights on budgeting, balancing parenting and coaching, and long-term financial planning—all grounded in hockey’s realities.

Main Topics Covered:

• Kaydee's journey from childhood hockey to coaching her kids
• The financial rollercoaster of youth hockey: budgeting, borrowing, and paying down debt
• Effective strategies for hockey-related expenses and long-term financial planning
• Lessons learned about maximizing joy and reducing stress in youth sports

In this episode:

• Kaydee shares her early start in figure skating and transition into competitive hockey
• The experience of playing in boys' hockey and later coaching her children's teams
• How she managed her household on a single income while supporting her kids’ hockey pursuits
• Practical tips on budgeting for hockey, including spreadsheet use and expense management
• Her strategy for paying down hockey-related debt and building a retirement nest egg
• Cherished memories from her kids' championship games
• Advice for parents new to youth hockey about planning and enjoying the ride

Timestamps:

00:00 - Introduction: Balancing hockey, family, and finances

00:31 - Kaydee's early hockey journey and transition from figure skating

01:33 - Competing at AAA and transitioning into coaching

02:17 - Continuing to play adult mixed and rec league hockey

03:11 - Coaching her kids and handling parent-player dynamics

03:52 - Her kids' experiences and their varied personalities

05:41 - Managing hockey costs on a single income house

08:56 - Navigating financial chaos and budgeting strategies

10:01 - The high costs of tournaments, travel, and equipment

11:01 - Living within limits and making sacrifices

12:20 - Creating and sticking to a budget with spreadsheets

13:02 - Managing credit card debt effectively

14:04 - The importance of frequent budget review

15:03 - Strategies for paying off high-interest debt

17:28 - How her financial outlook has improved post-hockey

18:33 - Future goals: retirement savings, coaching, and family plans

19:56 - Advice for parents: start budgeting early and seek resources

20:42 - Lessons from money mistakes, credit card reliance

23:13 - Cherish the journey and find joy in youth sports

Thank you for joining us on this episode of The Financial Power Play. I'm excited to continue bringing you stories, insights, and strategies to help you build a financial future as strong as your passion for hockey. If you enjoyed this episode, please subscribe, share it with your hockey crew, and leave a review.

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The podcast discusses the principles of building wealth and achieving financial freedom, emphasizing the importance of avoiding debt, living below one's means, and investing the surplus. It also explores the topics of crypto, buying a house, financial independence, and practical steps for financial security.

Takeaways

• Avoid debt that traps you
• Live on less than you earn
• Invest in surplus and let time do its job

Chapters

• 00:00 Building Wealth and Financial Freedom
• 06:03 Debt Management and Investing Surplus
• 13:27 Financial Independence and Compounding