Anaheim Ducks

About

Trading well below peer valuations at $1.2B despite $140M in revenue, the Ducks benefit from a stable ownership structure under Henry Samueli and an anchor tenant agreement in the Honda Center, though competitive underperformance and limited media market leverage (Orange County's fragmented viewership versus LA's core metro) constrain value appreciation relative to equivalent NHL franchises. Strategic upside hinges on on-ice turnaround to drive local engagement and merchandise velocity, while the aging arena presents both a capital expenditure risk and a potential catalyst if ownership pursues modernization or relocation optionality. | Samueli paid $70M in 2005; 20x return.