Canucks: Aquilini family confirms team is 'not for sale'
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The Vancouver Canucks say they're not for sale.
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In a statement late Friday, the team ownership balked at reports suggesting that they're on the block. But they did admit that Paolo Aquilini is leaving his spot in the family-based ownership group, although they didn't elaborate on why.
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The Aquilini Investment Group — father Luigi, sons Francesco, Roberto and Paolo — have owned the team and Rogers Arena outright since November 2006. They bought a 50 per cent share in both from John McCaw in November 2004. They also own the Canucks' farm team — the American Hockey League's Abbotsford Canucks — and the National Lacrosse League's Vancouver Warriors.
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Paolo's picture was recently removed from the Canucks website. He's been tied to the charitable side of the team and family efforts, such as the Canucks Austin Network and Canucks for Kids Fun. Pictures of Francesco, listed as chairman and governor, and Roberto, who is alternate governor, remain under the ownership heading on the site.
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The statement was signed by Aquilini Investment Group, Luigi, Francesco and Roberto.
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'In response to various media inquiries that we have received and due to a private family matter, Paolo has resigned from his positions with the team and will be leaving the ownership group,' the statement read. 'The remaining owners take their role as stewards of this community asset with deep responsibility and pride, and remain fully committed to bringing the Cup to Vancouver. This team holds great meaning for the family and is not for sale. There will be no further comments.'
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Former NHL player turned insider Nick Kypreos wrote in the Toronto Star this week about how questions were 'starting to circulate,' about whether Aquilini family was contemplating selling the majority or even part of the Canucks, and he reasoned that the family 'may have grown a tad tired of the constant drama surrounding the team.'
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There have been other suggestions, too.
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That could all be noise tied to word getting out about the Canucks needing to finalize a valuation on the franchise. They would be required do that in the event they need to buy out Paolo's stake, although no one from the club has stated that is happening.
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Kypreos wrote that 'market value for the hockey club and Rogers Arena is speculated to be between $2-3 billion.' Sportico, a sports business publication, estimated the Canucks' value at $1.7 billion.
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