in ,

Why Snoop Dogg is Joining the Race to Buy Canada’s NHL Team, the Ottawa Senators

Snoop Dogg, the rap mogul, has indicated interest in purchasing a part in the Ottawa Senators, the NHL team for sale in Canada’s capital city. According to the Associated Press, the performer stated that he was looking forward to being a part of Neko Sparks’ attempt to acquire the NHL team.

“Amazing what [Neko Sparks] is trying to do in Ottawa,” Snoop wrote to his 80 million followers. “I’m looking forward to being a part [sic] of that ownership team. I WANNA BRING HOCKEY BACK TO OUR COMMUNITY.”

Snoop is one of a dozen investors, including several people of color, who are joining Sparks’ bid in making a significant push to buy the Senators. If successful, The Athletic reports that the price could reach north of $1 billion, making it the richest sale in NHL history.

However, the rapper is not new to investing in the Ottawa Senators; his first investment was in 2005, when he launched his Snoop Football League. The goal was to give young people of all races, colors, creeds, and economic backgrounds the opportunity to learn the virtues of character, integrity, discipline, and collaboration via football and cheerleading.

The inspiration behind Snoop’s interest in the Canadian Hockey team is to make the game more accessible to minority communities that might otherwise not feel there’s a place for them.

“He’s passionate about trying to make this game affordable for visible minorities and kids in low-income areas who haven’t been able to play hockey in the past,” a source close to the artist said.  “He wants to be community oriented.”

“Snoop being on Sparks’ ownership ballot could be an enticing prospect if their bid is successful. The entertainer’s star power might draw more fans and media attention to the Senators and help to monetize a potential new arena that any group purchasing the team would be interested in building. The Senators play in a rink well outside city limits, and seeing the club move downtown is a significant piece of the puzzle for its future owner,” according to ESPN.

Meanwhile, The Athletic reports that the entertainer is already planning for the 2023-2024 NHL season if the Sparks group is successful in their bid. He is rumored to be aiming to attend certain Senators home games as well as join commentators to provide insight, similar to what he did with the Los Angeles Kings in the past.

The competition to buy the Senators comes after the death of the team’s owner, Eugene Melnyk, who died last year at the age of 62 after a battle with cancer. He had planned to appoint his daughters as caregivers before his death. He first purchased the team in 2003 for $92 million, at a time when the franchise was facing bankruptcy and a bleak future in the nation’s capital.

The Senators reached the Stanley Cup final under Melnyk in 2007, but were defeated in five games by the Anaheim Ducks. A decade later, Ottawa nearly made it back to the Cup final, but lost the deciding game of the conference final in double overtime. Since that defeat, the Senators have missed the playoffs for six consecutive years.

Snoop has made a name for himself as an entrepreneur in addition to entertainment and, more lately, sports. He co-founded Case Verde Capital, one of the world’s first cannabis-focused investment organizations.

He also acquired the brand name rights to Death Row Records. According to him, the move was an “extremely meaningful moment” for him and he was looking forward to “building the next chapter” of the record label.

“I am thrilled and appreciative of the opportunity to acquire the iconic and culturally significant Death Row Records brand, which has immense untapped future value,” he said in a statement. “It feels good to have ownership of the label I was part of at the beginning of my career and as one of the founding members.

No Jail Time for Woman Who Plowed Car into Black Lives Matter Protesters, Injured 6 People

Nigerian Payments Startup Nomba Raises $30m Pre-Series B Round