Jump to content

Nashville Predators Being Sold?


otherwilds

Recommended Posts

Now Nashville is in danger of moving, and the existing season ticket buyers are threatening to boycott.

Huh?

you're telling me the Nashville market is going to rally around a nonplayoff team when they couldn't even really support a team that finished in the top echelon of NHL standings?

What I'm saying is that it is not accurate to make a blanket statement that the season ticket holders are threatening a boycott.

Link to comment
Share on other sites

  • Replies 464
  • Created
  • Last Reply

Now Nashville is in danger of moving, and the existing season ticket buyers are threatening to boycott.

Huh?

you're telling me the Nashville market is going to rally around a nonplayoff team when they couldn't even really support a team that finished in the top echelon of NHL standings?

What I'm saying is that it is not accurate to make a blanket statement that the season ticket holders are threatening a boycott.

Understood, and I didn't really mean you literally, I meant more towards the article you posted. Cheers.

Link to comment
Share on other sites

Now Nashville is in danger of moving, and the existing season ticket buyers are threatening to boycott.

Huh?

you're telling me the Nashville market is going to rally around a nonplayoff team when they couldn't even really support a team that finished in the top echelon of NHL standings?

What I'm saying is that it is not accurate to make a blanket statement that the season ticket holders are threatening a boycott.

Understood, and I didn't really mean you literally, I meant more towards the article you posted. Cheers.

10:4, roger wilco :D

Link to comment
Share on other sites

What Bettman claims on yahoo

Bettman: Talk of Predators to Canada is premature

By IRA PODELL, AP Sports Writer

June 20, 2007

NEW YORK (AP) -- Without a binding agreement between Nashville Predators owner Craig Leipold and Canadian billionaire Jim Balsillie, talk of the team relocating to Canada is strictly premature.

That was NHL commissioner Gary Bettman's stern message Wednesday after a meeting of the league's board of governors.

ADVERTISEMENT

Leipold and Balsillie, the co-CEO of BlackBerry maker Research In Motion, agreed to a term sheet for the transfer of ownership of the club, but that is nonbinding. The delay in closing the deal prevented the sale from being up for vote by the league's 30 teams before this weekend's draft in Columbus, Ohio.

Balsillie has already started a process to move the Predators to Hamilton, Ontario, should a potential out in the team's lease with the arena in Nashville be exercised after the sale's completion. Leipold announced May 24 he was selling to the team to Balsillie.

"Currently there isn't a fully completed application before the board of governors," Bettman said. "As a result I think people are getting a little bit ahead of themselves on this entire issue.

"It isn't in any shape or form close to being ready for consideration as it relates to approval of an ownership change. I'm not exactly sure why people are focused on the Nashville Predators being anywhere other than in Nashville at this particular point in time."

The board isn't scheduled to meet again until the fall, so any deal likely won't be approved before next season. The agreement between Leipold and Balsillie carried a June 30 deadline for completion, but that could be extended.

Just three weeks ago, Bettman said he specifically asked Balsillie if had had plans or intentions to move the team, and was told he didn't. But Balsillie already has gained the exclusive right to bring an NHL team to the Copps Coliseum in Hamilton, and Ticketmaster began taking deposits last week for "Hamilton Predators" season tickets.

"When I made that statement, that's what he had told me," Bettman said. "I know people are focused on the fact of, 'Why did I say that?' At the time I said it because that's what I was told."

Asked if Balsillie changed his position to him, Bettman said, "The facts speak for themselves. I wasn't completely shocked."

Balsillie's offer to Leipold falls somewhere in the $220 million-238 million range, well above Forbes Magazine's estimated value of $134 million and significantly higher than his bid of $175 million for the Pittsburgh Penguins earlier this year.

The Stanley Cup champion Anaheim Ducks were sold for $70 million in 2005.

"There is entirely too much speculation about this whole thing," Bettman said. "It's clear that there has been way too much activity on something that isn't even quite in its embryonic stage."

But Bettman appeared angry and defensive when peppered with questions about the potential sale and subsequent relocation of the Predators.

He characterized discussions Wednesday among the league's owners as merely an update. Bettman said there was no talk of contingency plans should the Predators get out of their lease, which doesn't expire until 2028.

"I'm not in favor of doing anything to destabilize an existing franchise, particularly one that has a long-term lease," he said. "We don't have a relocation issue pending. It would be premature to consider a relocation application. The only thing that could conceivably be pending, and even that's not in position to be reviewed, is an ownership application."

Representatives of the Buffalo Sabres and Toronto Maple Leafs, the teams that would be most affected if a team moved to Hamilton, declined comment.

The escape clause in the Predators' lease is based on average paid attendance. If the team has two straight seasons of under 14,000 tickets sold per game, Leipold had the right to exercise a "cure" clause which would force Nashville to make up the difference in ticket sales.

He took that action last Friday. The Predators averaged 13,815 in paid attendance last season when they finished third in the NHL with 110 points.

"The Nashville Predators have a valid, binding lease to play in Nashville," Bettman said. "While there is a possibility at some point in the future that that lease could get terminated early, we're nowhere near whether or not that may happen."

City of Nashville authorities say Leipold can't use attendance from the first season after the NHL lockout in the two seasons of under 14,000. That's the number the team must meet to collect all of its revenue-sharing money from the NHL. The city will be forced to either pay the difference to the team or refuse and allow the team to get out of the lease.

"The fate of this franchise long-term rests in their hands," Bettman said. "If the requisite number of tickets are sold, there is absolutely no issue about the lease."

baltimoreravens.png

Link to comment
Share on other sites

From the Sporting News article.

Even if fans buy 3,000 more tickets, Balsillie still could buy his way out of the lease. Sports authority member Steve North pointed out a buyout clause with a prorated scale that could be $27 million now. Spyridon said Balsillie certainly can write that check, leaving Nashville relying on Bettman's promises.
Link to comment
Share on other sites

I think it's pretty obvious that new arenas would need to be constructed in Salt Lake and Portland for them to ever have a real shot to get a team.

Umm, Rose Garden? Apart from some dressing room renovations and a new press box, the arena is ready to go for the NHL.

Yes, but Paul Allen controls it and apparently doesn't want to let the NHL use it...

Link to comment
Share on other sites

From the Sporting News article.

Even if fans buy 3,000 more tickets, Balsillie still could buy his way out of the lease. Sports authority member Steve North pointed out a buyout clause with a prorated scale that could be $27 million now. Spyridon said Balsillie certainly can write that check, leaving Nashville relying on Bettman's promises.

That's not necessarily acceptable to the NHL BOGs though. He might buy his way out of the lease, but that doesn't mean the owners would approve the move to Hamilton when he had a perfectly good lease in Nashville.

Link to comment
Share on other sites

From the Sporting News article.

Even if fans buy 3,000 more tickets, Balsillie still could buy his way out of the lease. Sports authority member Steve North pointed out a buyout clause with a prorated scale that could be $27 million now. Spyridon said Balsillie certainly can write that check, leaving Nashville relying on Bettman's promises.

That's not necessarily acceptable to the NHL BOGs though. He might buy his way out of the lease, but that doesn't mean the owners would approve the move to Hamilton when he had a perfectly good lease in Nashville.

Good, except it doesn't come with a fan base willing to buy tickets.

For the life of me, I can't figure out why Bettman or his BOG is so afraid to talk about this.

Link to comment
Share on other sites

From the Sporting News article.

Even if fans buy 3,000 more tickets, Balsillie still could buy his way out of the lease. Sports authority member Steve North pointed out a buyout clause with a prorated scale that could be $27 million now. Spyridon said Balsillie certainly can write that check, leaving Nashville relying on Bettman's promises.

That's not necessarily acceptable to the NHL BOGs though. He might buy his way out of the lease, but that doesn't mean the owners would approve the move to Hamilton when he had a perfectly good lease in Nashville.

Good, except it doesn't come with a fan base willing to buy tickets.

For the life of me, I can't figure out why Bettman or his BOG is so afraid to talk about this.

For the same reason that no leagues talk about this stuff when it first comes up. You can't predict what might happen in the future so you don't want to talk down a market that you may be stuck with.

Also, the league has a policy of not breaking leases. Paying the 27 million might be considered breaking the lease and thus the BOG might reject a move. Also there might be a fear based on his actions that Balsillie might be a Al Davis type owner and sue the league if he doesn't get his way about stuff. That's something you don't want in your league despite the minimal boost that a franchise value might get from him overpaying for the Preds.

This is a process and the league doesn't want to tip their hand on anything in case unexpected things occur.

Link to comment
Share on other sites

Good, except it doesn't come with a fan base willing to buy tickets.

And thus is the problem with these discussions. No matter how many good points come on either side, it's all ignored and dismissed.

And with a blanket statement Nashville is labeled a market that has no chance of being anything more than what it currently is.

I say good in that it comes with a chance of a growing fanbase becoming willing to buy tickets. Hows that?

No blanket statements work. But it sounds ignorant to just say Nashville hates hockey and always will, period, end of story.

Link to comment
Share on other sites

From the Sporting News article.

Even if fans buy 3,000 more tickets, Balsillie still could buy his way out of the lease. Sports authority member Steve North pointed out a buyout clause with a prorated scale that could be $27 million now. Spyridon said Balsillie certainly can write that check, leaving Nashville relying on Bettman's promises.

That's not necessarily acceptable to the NHL BOGs though. He might buy his way out of the lease, but that doesn't mean the owners would approve the move to Hamilton when he had a perfectly good lease in Nashville.

And again, you're assuming that the BOGs would actually CARE about Nashville or its fanbase. When dealing with people of this caliber, money talks. And that's exactly what Balsillie has in spade.

Link to comment
Share on other sites

From the Sporting News article.

Even if fans buy 3,000 more tickets, Balsillie still could buy his way out of the lease. Sports authority member Steve North pointed out a buyout clause with a prorated scale that could be $27 million now. Spyridon said Balsillie certainly can write that check, leaving Nashville relying on Bettman's promises.

That's not necessarily acceptable to the NHL BOGs though. He might buy his way out of the lease, but that doesn't mean the owners would approve the move to Hamilton when he had a perfectly good lease in Nashville.

And again, you're assuming that the BOGs would actually CARE about Nashville or its fanbase. When dealing with people of this caliber, money talks. And that's exactly what Balsillie has in spade.

It's not even about them caring about Nashville.

It's about the proud, stubborn nature of the BOGs and their commisioner. I know Ballsillie can offer a ton of coin to them, but these are people that in situations like these very often will stick to their guns.

Now they're also people who love having even more millions than they've already got. So I wouldn't rule anything out.

But it's stupid to assume Ballsillie is definitely going to be able to throw money all over the place and just be given his way.

Link to comment
Share on other sites

TSN is now reporting that Leipold has wrote to the league to no longer consider Jim Balsillie as the potential new owner of the Predators.

They aren't moving to Hamilton.

Bob Mckenzie just said it on the draft telecast.

Link to comment
Share on other sites

TSN is now reporting that Leipold has wrote to the league to no longer consider Jim Balsillie as the potential new owner of the Predators.

They aren't moving to Hamilton.

Bob Mckenzie just said it on the draft telecast.

I just heard that while watching the draft as well. Jimmy B is now 0 for 2.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.




×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.