• Recently Browsing   0 members

    No registered users viewing this page.

Sign in to follow this  
Legionnaire11

Leipold & Local Group in NY

Rate this topic

Recommended Posts

Wednesday, 07/18/07

Leipold, local group to meet with NHL

By JOHN GLENNON

Staff Writer

The next step in the sale of the Predators could come as early as today.

Sources familiar with the situation confirmed late Tuesday that current owner Craig Leipold and members of a Nashville group which has bid for the team will travel to New York this morning to meet with NHL commissioner Gary Bettman.

It is believed Leipold plans to sign a letter of intent to sell the Predators to either the local group or to California-based businessman William "Boots" Del Biaggio III.

A letter of intent does not mean a sale is complete. It does mean the two parties involved will have exclusive negotiating rights for a set period of time.

Leipold signed a letter of intent with Canadian billionaire Jim Balsillie in May, but the deal never progressed any further.

The next – and far more significant -- step toward reaching a deal would be a binding agreement, meaning a prospective owner would put down a significant sum of money as a show of interest.

Any change in ownership would have to be approved by the NHL’s Board of Governors, which is unlikely to meet again until September. The board could conceivably vote by fax before then if absolutely necessary.

The amount in the local bid has not been revealed, but it is believed to be lower than that of Balsillie’s $220 million and Del Biaggio’s $190 million.

http://www.tennessean.com/apps/pbcs.dll/ar...2/70718002/1028

:clap::clap::clap::clap:

Share this post


Link to post
Share on other sites

i hope it goes through..

Nashville deserves to keep the team for at least a few more years

Eh, I dunno. A team full of dirty players (at least they lost 1 of them) that can lead the division in points but can barely sell out half the arena with fans who have nothing better to do than chant "You Suck!" to opposing players isn't my idea of deserving. Get more fan interest, show better sportsmanship, and get fans who can show half the class of other teams like Detroit, Montreal, ect. (like Legionairre11) and then maybe they'll deserve a team.

Edited by Hockeytown0001

Share this post


Link to post
Share on other sites

Legionaire,

In one thread you talk about business decisions and that moving a team would not make good business sense (I believe it was you, I could be wrong).

But in fact isn't taking the lowest offered bid a bad business decision.

I am in support of Nashville staying put, for now, I don't think bouncing teams around from small market to small market is going to solve anything.

But my question still is valid. If the new group is going to offer the lowest bid out of all of them, than why have a bidding process. So that Bettman can yay or nay his way to the owners he wants. Doesn't that allow him to create a dictatorship of sorts (for a lack of a better term). He would be able to put the owners he wants and sees eye to eye with in the cities he wants, when and however he wants.

Edited by Opie

Share this post


Link to post
Share on other sites

Eh, I dunno. A team full of dirty players (at least they lost 1 of them) that can lead the division in points but can barely sell out half the arena with fans who have nothing better to do than chant "You Suck!" to opposing players isn't my idea of deserving. Get more fan interest, show better sportsmanship, and get fans who can show half the class of other teams like Detroit, Montreal, ect. (like Legionairre11) and then maybe they'll deserve a team.

I don't mind the fans chanting 'you suck' and all of that. It helps build rivalries.

But I agree that they really do need to get better fan support. They had one of the best teams in the leauge last year and yet they had really poor attendance. At least with teams like Chicago, Boston or Phoenix, you can make the arguement that nobody wants to watch a bad team. But Nashville has been one of the best and most exciting teams to watch the last 2 seasons. And their owner showed a willingness to go out and buy or trade for the best players available. The reason for fans not turning up was lack of interest. That's a bad sign.

And I heard on XM last week, from a supposedly reliable source, that the actual seasons ticket total for this season is around 7,000, not 14,000 that some are reporting.

But in the end, if the team continues to get little to zero support from local corporations, it won't matter who owns this team. They'll either fold or move away. Business is business. And losing millions each year isn't good business.

Share this post


Link to post
Share on other sites

Legionaire,

In one thread you talk about business decisions and that moving a team would not make good business sense (I believe it was you, I could be wrong).

But in fact isn't taking the lowest offered bid a bad business decision.

I am in support of Nashville staying put, for now, I don't think bouncing teams around from small market to small market is going to solve anything.

But my question still is valid. If the new group is going to offer the lowest bid out of all of them, than why have a bidding process. So that Bettman can yay or nay his way to the owners he wants. Doesn't that allow him to create a dictatorship of sorts (for a lack of a better term). He would be able to put the owners he wants and sees eye to eye with in the cities he wants, when and however he wants.

Very simply, if all things were equal, Leipold would accept the highest bid from the person/group ready to enter into a binding agreement for purchase of the team. That is required prior to the Board of Governors considering any application for purchase.

Balsillie has not been willing to enter into that binding agreement. Boots appears to be wavering as well.

When Leipold considers all bids, he has to consider all aspects that must be met- dollar figure as well as intent to sign a binding agreement.

I can tell you that, even in state government (in which I work), the "low bid" is not just the lowest dollar figure. The "low bid" is the lowest dollar figure that meets all of the requirements set forth by the entity eliciting bids.

Therefore, Leipold is not making a bad business decision.

Thanks.

David

Share this post


Link to post
Share on other sites

And I heard on XM last week, from a supposedly reliable source, that the actual seasons ticket total for this season is around 7,000, not 14,000 that some are reporting.

I hadn't ever heard anyone reporting 14k. But the 7k was thrown out in the local paper and then picked up on XM. I'm willing to bet that XM didn't bother to check on that number, the paper admitted that it was an old number. From the people i've talked to who have had direct meetings with the preds sales staff, it was approaching 9,000 this time last month. Which I believe is what we had last season.

Now, that's not to say that there's no improvement. The schedule only came out last week. And until then, the partial season ticket plans couldn't be released for sale and a lot of people are waiting until the rally tomorrow to buy their tickets. I have a feeling that on friday we'll be hearing numbers closer to 10,000

if the local owners get a binding agreement in the next month, that gives them at least a month and a half before the season starts that they can drum up support. I have a feeling they have a lot of business contacts who have told them that they will buy tickets if the local group gets the team, but they're waiting to purchase until they actually see it happen.

All in all, I expect us to start the season between 10-11k season tickets. And average somewhere around 15k paid for the season.

Share this post


Link to post
Share on other sites

I don't mind the fans chanting 'you suck' and all of that. It helps build rivalries.

But I agree that they really do need to get better fan support. They had one of the best teams in the leauge last year and yet they had really poor attendance. At least with teams like Chicago, Boston or Phoenix, you can make the arguement that nobody wants to watch a bad team. But Nashville has been one of the best and most exciting teams to watch the last 2 seasons. And their owner showed a willingness to go out and buy or trade for the best players available. The reason for fans not turning up was lack of interest. That's a bad sign.

And I heard on XM last week, from a supposedly reliable source, that the actual seasons ticket total for this season is around 7,000, not 14,000 that some are reporting.

But in the end, if the team continues to get little to zero support from local corporations, it won't matter who owns this team. They'll either fold or move away. Business is business. And losing millions each year isn't good business.

Wouldn't be suprised if that number continues to drop, especially since they seem to be trying to have the league's lowest payroll.

Share this post


Link to post
Share on other sites

David,

If Basille is selling tickets how was he not willing to sign a binding agreement? Asking an honest question. I would llike to see an article that says that, if true this man is a bigger ass than just being a crackberry billionaire.

I thought the league turned him down because Bettman didn't want to see the team moved.

I could be wrong haven't been real closely following this until reading these threads.

Need the info, throw me a friggin' bone here ( in my best Dr Evil Voice)

Share this post


Link to post
Share on other sites

Actually, Leipold cancelled the sale with Balsille I think, either because

1. Balsille lied to him and told him he wasn't moving the team, and then promptly started making plans to move them OR

2. Balsille was making waves with the BOG and Leipold saw that the sale was having less and less chance of actually going through.

That's just what I remember, and it might be a little off. I have a good friend from the area that lives here in Austin now, and he's a huge Preds fan.

Share this post


Link to post
Share on other sites

David,

If Basille is selling tickets how was he not willing to sign a binding agreement? Asking an honest question. I would llike to see an article that says that, if true this man is a bigger ass than just being a crackberry billionaire.

I thought the league turned him down because Bettman didn't want to see the team moved.

I could be wrong haven't been real closely following this until reading these threads.

Need the info, throw me a friggin' bone here ( in my best Dr Evil Voice)

Leipold and Balsillie signed a letter of intent giving Balsillie exclusive rights to reach a binding agreement with Leipold. It never happened.

Officially, the BOG will not review any application until a binding agreement is in place. When an application was presented to the league, it was returned due to the lack of a binding agreement.

The matter of relocation can not be considered, by league bylaws (established by the BOG, not singularly Bettman), until the application for purchase has been approved (again requiring a binding agreement for consideration).

Balsillie openly requested that the BOG consider the application and relocation question at the same time without a binding agreement in place. To do so would have broken several league bylaws and set a very bad precedent as well as open the league to potentlially damning litigation.

I know your wanting links to articles, but those can be easily found via a search. What I have presented is an unbiased account regarding how these types of issues are handled by the league. You will also find many articles that are opinions (some I have written myself) regarding the back room politics involving all of the parties.

Thanks.

David

Share this post


Link to post
Share on other sites

Thanks for the info man, this is a mess.

This is being handled as well as the steriod issue in baseball. Not saying they are on the same level legally and impact wise just on how well all parties involved are handling it.

Please some one save this team then the NHL!!!!

Share this post


Link to post
Share on other sites

Another way of looking at this:

Toronto has the first overall draft pick. They are considering three forwards. The top-ranked player is an American who has also been drafted high by a baseball team and is considering which sport he wants to play, The second-ranked player is a Russian who is a star in his home country right now. and the third is a Canadian kid who grew up in Hamilton and idolized Doug Gilmour and Wendel Clark.

Now, the American is clearly the best option as far as potential. But the fact is, the American hasn't even decided he wants to be a pro hockey player. So that wouldn't be a good top pick. The Russian is the next best player available, but as he is a Russian there is no guarantee he ever plays for the Leafs, or in the NHL for that matter. Which leaves the Canadian kid, whose dream has always been to play for Toronto. Yes, he may not have the highest potential, but he's the most likely to reach his potential for the Leafs in the NHL.

Share this post


Link to post
Share on other sites

If I'm understanding the situation correctly, no matter who buys the team (unless it's at bargain basement prices) Leipold is going to make out like a bandit thanks to the city of Nashville. He bought the franchise for less than $60 million ten years ago, claims to have lost $70 million but doesn't mention that the city of Nashville covers those losses, and now looks like he's going to sell the team for possibly around $190 million?

Say it sells for even $180 million. He will have made a profit of $120 mill in ten years time. Not a bad return on your investment.

Share this post


Link to post
Share on other sites

He should have to give half of the money back to the taxpayers in some rainy day fund or something. He is setting a bad precedence for the future. some one may try this intentionally. Not saying he did or didn't do this with intent, but this is a damn good way to make a few bucks real quicky.

Share this post


Link to post
Share on other sites

Letter of Intent has been signed. Now they just have to reach a binding agreement and get BoG approval.

and then maybe your team can get themselves above the cap floor.

Share this post


Link to post
Share on other sites

Again, I like going to Nashville and have a lot of fun we when do. But what happens after this year??? You get the support for a year, then what happens, companies see that the have bought all these tickets and no one goes, then they don't buy them the following year. Ford use to have to buy his own tickets just so the Detroit LIons games would be on tv ( before the move to the smaller dome) Are the non hockey people going to be happy when the city has to pick up the bill??? "Sorry Mrs Smith, we would like to send an officer to your house quicker but we had to buy hockey tickets instead of hiring more officers." That's just not going to go over well.

Share this post


Link to post
Share on other sites

Horrible news, the franchise would have done 10 fold as better in Hamilton but I guess the good news in all of this is that we get to strengthen our historic rivalry with them.... :rolleyes:

how can you possibly know that?

Hamilton's AHL crowds are less than stellar, and it's way close to Toronto...

there's absolutely no guarantee of success.

Share this post


Link to post
Share on other sites

how can you possibly know that?

Hamilton's AHL crowds are less than stellar, and it's way close to Toronto...

there's absolutely no guarantee of success.

Those two points are contradictory. Its more likely that Hamiltons crowds are less than stellar because they are "way close to Toronto"

Also, why would a bunch of (likely) Maple Leafs fans want to support future Montreal players? I bet if the Bulldogs were actually the Leafs AHL affiliate, theyd be doing a lot better. I know if the Grand Rapids Griffins were the affiliate for the Preds, the majority wouldnt give two s***s about em.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this