All you need to know about Bruce McNall

Bruce McNall has a net worth of $500 thousand and is a former sports executive, Thoroughbred racehorse owner, and convicted felon. Bruce McNall’s net worth was easily in the $100-200 million level at his peak.

Who is Bruce McNall?

Bruce McNall was born in Arcadia, California on April 17, 1950. Despite his claim that he attended the University of Oxford, which was eventually discredited, he attended UCLA for his academic studies.

He once controlled both the Los Angeles Kings of the NHL and the Toronto Argonauts of the CFL. He won the famous Prix de l’Arc de Triomphe in Thoroughbred racing in 1990 with his horse Saumarez. McNall’s career took a drastic turn in 1993 when he was found guilty of conspiracy and fraud and sentenced to 70 months in jail. In 1994, he declared bankruptcy.

McNall worked as a film producer in the 1980s, producing films such as “Weekend at Bernie’s” and “The Manhattan Project.” He bought a 25% share in the Los Angeles Kings in 1986. A year later, he purchased 24% more, becoming the team’s largest stakeholder. Due to a $90 million loan default, he was forced to sell the Kings in 1993. He was named chairman of the NHL Board of Governors in 1992. McNall, Wayne Gretzky, and John Candy bought the Toronto Argonauts in 1991.

How old is Bruce McNall?

He is currently 73 years old.

What is Bruce McNall’s net worth?

He is estimated to be worth $500 Thousand.

What is Bruce McNall’s career?

By the 1980s, McNall had made a fortune from collecting and selling apparently old coins. He leveraged his riches to buy a 25% share in the NHL’s Los Angeles Kings in 1986, followed by a 24% stake in 1987. McNall, the team’s major shareholder, was named president; he later purchased the team’s remaining shares in March 1988.

McNall stunned the sports world in August when he bought the NHL’s greatest player, Wayne Gretzky, from the Edmonton Oilers. Marty McSorley and Mike Krushelnyski were also acquired from the Oilers. After McNall increased Gretzky’s annual compensation to $3 million, NHL salaries skyrocketed. In 1992, McNall was elected chairman of the NHL Board of Governors.

In addition to ice hockey, McNall and Gretzky purchased the Canadian Football League’s Toronto Argonauts in 1991. Raghib Ismail was on the club, whom McNall had lured away from the NFL with a four-year, then-unprecedented $18.2 million contract. Ismail went on to lead the Argonauts to the Grey Cup title in 1991. After two seasons with the team, he returned to the United States to join the Los Angeles Raiders of the National Hockey League.

McNall also owned a large number of Thoroughbred racehorses. He won the Prix de l’Arc de Triomphe, France’s most important horse race, with his colt Saumarez in 1990. Previously, McNall owned a 50% stake in Trempolino, the horse that won the Prix de l’Arc de Triomphe in 1987. He also shared ownership of the colt Golden Pheasant, which won races in Europe and the United States.

McNall failed on a $90 million debt in late 1993. As a result, Bank of America threatened to bankrupt the Los Angeles Kings unless he lost control of the franchise. McNall eventually sold his controlling stake in the Kings in May 1994, but remained president for a time. He also resigned from his position as chairman of the NHL Board of Governors. Soon after, McNall revealed to Vanity Fair that he had smuggled much of his cherished coin collection out of other countries.

Bruce paid $7 million (about $22 million in today’s terms) for a property at 924 Bel Air Rd in Los Angeles’ Holmby Hills neighborhood (same location as the Playboy Mansion) in 1982. In 1995, a year after declaring bankruptcy, Revlon Chairman Ronald Perelman outbid a nearby institution, Harvard-Westlake, at a public auction. The 10,000-square-foot mansion was purchased for $4,738,750 by Perelman.

The house sold for $7.9 million in 2012. The house was resold in 2013 for $11 million. That building was demolished and replaced with a 38,000-square-foot mega-mansion. This mansion was listed for $250 MILLION in January 2017. For many years, it was the most expensive residence in America. In October, it was ultimately sold in October 2019 for $94 million.

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