06-10-2008, 05:24 PM
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| Senior Member | | Join Date: Feb 2007 Location: Winnipeg, Canada
Posts: 105
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| Re: Bye Bye Nashville
Predators are all but gone. HockeyBuzz.com - Daniel Tolensky - WHY DOES BOOTS OWE AEG $7 MIL? don't understand.
One of Boots Del Biaggio's largest unsecured creditors in his bankruptcy filing is AEG Facilities. Boots owes AEG $7 million for what's listed as a 'Business Debt' (He also owes Craig Leipold $10 mil).
Doesn't AEG own the Kings?
Why would they loan Boots Del Biaggio seven million dollars?
Anyone know what the league bylaws say about a team owner loaning another prospective team owner money to purchase a team?
Wait aren't AEG also partners in the Sprint Center and didn't Boots have an arrangement with them to bring a team to Kansas City?
And didn't it come out this week that Del Biaggio's deal with the Nashville group gave him the right to purchase the team after two more seasons, should the team lose over $20 million or fail to meet its attendance target?
Isn't AEG also behind the venue being built in Las Vegas? The team that Jerry Bruckheimer would reportedly like Brian Burke to run even though he doesn't own a team and the league apparently isn't in a position to expand or relocate any teams in the near future.
"There's little doubt that Las Vegas is coming in (during expansion), it's about four years from now. And I truly believe Gary Bettman will move us East at that changing."
– Jim Devellano told the Detroit News. “I think it’s [Las Vegas] a very viable location I think the league would be interested if the time came when it made itself available.”
- Jeremy Jacobs told the Boston Globe I HATE to even bring this up because he's one of my favorite players of all-time and by all accounts a great guy but I wouldn't be doing my job if I didn't. Luc Robitaille purchased the Omaha Lancers with Boots Del Biaggio and was the President of the team. He was on the Board of Directors of Onco Petroleum with Boots Del Biaggio (both recently resigned). He was hired by AEG to be one of the point men in the KC deal.
"As it is becoming more probable that Kansas City will get a hockey team in the very near future, Luc, who has some of the strongest relationships in the sports business industry, will play a significant role in our efforts to acquire a pro franchise for Sprint Center."
- Tim Leiweke, President & CEO of AEG, November 14, 2006 It's possible that if one were looking into the relationship between AEG, Boots Del Biaggio and certain promises or arrangements that could have been made with the NHL that Luc may be able to help fill in some of those gaps.
Two very telling quotes:
“These types of processes take time. I don’t know if anyone thought that the building would have a tenant overnight. The priority was to keep the team in Pittsburgh; everyone understood that. Just as if teams in Kansas City have issues, you’d want to know the league is doing everything it could to keep them there. But Kansas City put itself on the map as an attractive, viable place for a future arena franchise, be it the NHL or NBA. I can’t speak for the NBA, but no doubt if we were considering a relocation or expansion — neither of which we are considering at the time — we would have to consider Kansas City.”
- Gary Bettman told the Kansas City Star "I believe Boots and his group will step up and get an expansion franchise if there is one to be had. In the meantime we're going to try anybody and everybody that ultimately is in trouble. We're willing to be used a little bit if that's the process it takes to get Kansas City a team."
- Tim Leiweke told the Kansas City Star Commissioner Anschutz - I mean Bettman really should clarify some of these relationships.
Is it an AEG league that we're all just living in??
Danny - dtolensky@hotmail.com
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NASHVILLE PREDATORS ISSUE STATEMENT
Nashville, Tenn. (June 6, 200 – The following statement is from David Freeman, Chairman of the Nashville Predators, after learning William “Boots” Del Biaggio had filed for personal bankruptcy earlier today.
“The developments of the past several days have been shocking and disappointing. I am particularly disappointed because so many have worked so hard for so long to bring stability to this franchise. This is an unfortunate distraction for the NHL, the city of Nashville, our fans, and our business partners.
“Obviously, I cannot and will not comment on Mr. Del Biaggio’s personal situation.
“Here’s the bottom line for the citizens of Nashville and fans of the Predators: regardless of how many lawsuits are filed against Mr. Del Biaggio, regardless of the amounts of the claims, regardless of the details of the allegations, Mr. Del Biaggio’s problems are personal. Mr. Del Biaggio is a minority owner. His minority ownership stake and its final disposition will not impact operation of the club. It is my hope and anticipation that the club will be even stronger once this saga reaches its logical conclusion and Mr. Del Biaggio is no longer associated with the club.
“We are in frequent contact with the City, our banking partners and the League to ensure that we are responding quickly and appropriately and we will continue to work closely with these partners throughout the process. At the same time, our organization is moving forward uninterrupted and unaffected by these developments.”
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The Story of the Summer: HAMMER TIME
We're just over 36 hours past the conclusion of the 2007-08 season and it's already clear what the story of the summer will be:
Jim Balsillie and his quest to bring a National Hockey League team to Hamilton.
Get your popcorn ready folks, because this one's about to heat up and I have a hunch that the Commissioner is going to be in the line of fire.
If Teresa Tedesco's report in today's National Post is correct, and I have no reason to believe otherwise, there seems to be a double-standard going on:
Mr. Del Biaggio's indirect interest in the Predators, which makes him the second largest owner, includes a number of contractural rights that would have allowed him to buy out his co-partners' shares after two years if the team sustains cumulative losses of US$20-million or if it fails to maintain average attendance levels at 14,000 a game or more.
Conversely, the contract allows for Mr. Del Biaggio to "put" his shares to Mr. Freeman and the local Nashville group, forcing them to buy him out after two years if the team successfully meets its financial criteria.
Apparently, Mr. Balsillie wanted a guarantee from the league's head office that those same consent rights would be transferred to him if he purchased Mr. Del Biaggio's minority interest in the Predators.
But sources say Mr. Del Biaggio delivered a message to Mr. Balsillie's camp on May 23 that the league would not give it blessing to confer the same rights, which had been approved for the troubled U.S. financier, to the Canadian billionaire that could have eventually allowed him to own the Predators outright. So it's ok for Bettman to unite Boots with a local Nashville group to 'save the Preds' for two seasons and then move them Kansas City but Balsillie can't get the same deal?
And isn't it a little curious that Jerry Bruckheimer is asking for permission to speak to Brian Bruke when he doesn't even own a team?
One could make an assumption that Boots, Bruckheimer and AEG have been privy to certain information regarding the league's plans for expansion and/or relocation which would explain why things have proceeded in the manner that they have - minus the fraud charges of course.
With quite a few teams struggling financially (some reportedly more so than before the lockout) you have to believe that this story is going to intensify. Quickly.
I've said it many times before - NHL Hockey in Hamilton is a sure thing.
If you want to gloat about attendance record and surging revenues, put a team in Hamilton.
The league can only protect its weak members for so long without a significantly increased pool of revenue sharing, something that doesn't make a lot of sense because of the low percentage of centrally generated revenues.
Something's gotta give.
We don't want to hear about territorial rights. This is a league that allowed a crooked owner to pocket $25 million to allow a team in his protected area to the detriment of his own franchise. We have three teams in the New York area and Philly close by.
And seriously it's enough about the days of a 61 cent dollar when some people worried that one day there would only be one team left in Canada. Yes there was a lot done to help certain Canadian teams in the past - but imagine how much trouble the league would be right now without those Canadian teams. Let's talk about the future.
Southern Ontario can and would no doubt support another team. They could probably support two or three more.
This story is not going to go away. In fact, I think we've only just begun.
My thoughts haven't changed from almost a year ago when I wrote this closing:
In my opinion the city of Hamilton deserves to know what the league's views are on the potential for a team in their city - either the Preds or another franchise or through expansion. There's no doubt in my mind what that answer should be. If you have any reservations, watch the DVD of the 1987 Canada Cup final series. Not only was it some of the best hockey ever played but the Copps Colliseum crowd will give you chills. Twenty years later their passion and enthusiasm for a National Hockey League team is just as strong - as evidenced by the number of deposits for season tickets within a very short period of time.
This is an issue that needs to be addressed sooner rather than later.
It's time for strong leadership.
It's time for an honest and open dialogue.
It's time for answers.
And it's time for the National Hockey League to commit to a vision that includes growing the game not only in the United States but also in Canada.
Danny - dtolensky@hotmail.com
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