Canucks ownership preparing for big-time Aquilini brother buyout: report
The Vancouver Canucks are no strangers to buyouts.
They handed one out to Oliver Ekman-Larsson that cost the team more than $19 million, after all.
But that buyout will pale in comparison to the amount of money Paolo Aquilini is due to receive.
Canucks Sports and Entertainment is owned by the Aquilini family, but as was reported last month, it appears Paolo wants out.
As recently as April, the Canucks’ official website listed all three Aquilini brothers — Francesco, Roberto, and Paolo — under the team’s ownership group. They are the sons of Luigi Aquilini, who founded the family business after immigrating to Canada from Italy in the 1950s.
Francesco serves as chairman and governor, while Roberto is listed as an alternate governor.
Paolo was listed as an alternate governor, too, but that’s no longer the case, as he has been removed from the ownership listing.
According to reports, the Canucks will need to buy him out or perhaps bring in another investor.
“We know that they need to come up with a whole bunch of money to buy out Paolo. And we know that the decision-making isn’t going to be moving from Francesco anytime soon,” Cam Robinson of Elite Prospects said in a recent interview with Sekeres and Price.
“They are looking to sell off some assets.”
Frank Seravalli from Daily Faceoff painted a similar picture in an interview with Mike Halford and Jason Brough on Sportsnet 650.
“It’s been an ongoing tug-of-war behind the scenes,” he said. “Everyone has seen the reporting of Paolo Aquilini separating himself from the rest of the family business, and him essentially being bought out. That part has dragged on for a bit.”
Forbes’ latest NHL franchise valuation lists the Canucks being worth $1.95 billion, so needless to say, buying out one of its owners is a very costly proposition — even by billionaire standards.
“I think everyone’s hoping this can be wrapped up by the start of the regular season, but there’s still some hurdles to clear,” Seravalli added. “I think that current going on behind the scenes has just created an additional layer of what everyone would say has been an ongoing drama in Vancouver.”
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