News Article: Melnyk: 'not selling the team — period'

[Tnuoc Alucard]

Respectfully disagree.

Boycotting the team and forcing Eugene to sell is an option as well and one where I don't have to give my hard earned money to a fool.

Can you point to anywhere or time this has happened?

 

[Ice-Tray]

New ownership, new area, sounds great for you Ottawatians, new life and a positive atmosphere are the big wins for the out of town fans like myself.

I do agree that much of Sens apathy has been due to a poorly hyped product. The on ice product has been a treat to watch over the last few years for a variety of reasons, and each season since the start has had some worth moments. A new arena would be perfect, new ownership COULD be awesome as well.

It's a fine line to walk where fans keep the team viable, and allow enough money to be available to sign our best players, but limiting the funds enough that the owner can't make enough to keep the team.

Interesting times ahead, and I don't think a boycott is helpful, seems more like throwing the baby out with the bath water.

 

[Sensung]

Can you point to anywhere or time this has happened?

Edmonton Poklington

 

[branch]

Sounds good. We certainly have the fan base to pull it off and we can be lousy forever . . I like how you think. Base ourselves on Arizona. A model franchise.

Oh boy

 

[NyQuil]

So you're comparing Toronto, where one third of the population of Canada in within a 60 minute drive of the ACC, and has had a string of sellouts for as long as anyone posting on this thread has been alive ............. with Ottawa, that has a sixth of the population, hardy any corporate headquarters, and the largest employer in the Region, the Federal Government, that cannot buy tickets................... yeah, that's not really a fair comparison, is it?

If we really wanted to compare fanbases, the Leafs should have an arena that houses around 68,000 people.

As it is, less than 3,000 people have to buy tickets per game, because 13,000 are corporate season tickets and the other 3,000 are non-corporate season ticket holders.

Those 13,000 tickets come with tax write-offs.

Ottawa actually has more non-corporate season ticket holders (4,000) than Toronto does, to go along with the 4,000 corporate season tickets, requiring a walk-up crowd of around 10,000 back before we tarped seats.

 

[JD1]

Well the person I heard was buying the debt was Ruddy. From what I understand its a group effort with the Greenbergs involved as well as Hunt, Alfie and the Desmarais family. Its a real estate deal more than its buying a sports franchise. All the value is in developing lebreton flats.



This is the information that I was given too. I think the backlash on Melnyk might be slowing the sale of the team down because of his child like ego.

ruddy and Tomlinson are already partners in rendezvous lebreton

desmarais is part of the competing proposal

 

[JD1]

I doubt the team is sold but the league will be going after Melnyk to sell and step away. He's brought so much negative attention to their brand and marquee event. Only a matter of time before he's forced out by the BOG. If he doesn't want to play ball hire a group of lawyers to file suits involving his past shady dealings. "Scientology" him out of the league. He can't get this Lebreton deal done. Someone else needs to carry the mantle.

this is the stuff I consider fake news

the league WILL be going after Melnyk to sell? You know this how?

He can't get the Lebreton deal done? Again you know this how? Ruddy and Tomlinson that have been mentioned as buyers are partners in his Lebreton deal.

 

[JD1]

Or we could speak with our wallets and tell this management and owner that we won't be trampled on as fan base like in Toronto. Until all of Boucher, Dorion and Melnyk are gone, they won't see a dime of my money.

that's unfortunate that you'v chosen to stop enjoying live professional hockey

 

[JD1]

It went "live" in mid Febuary 2016.

Federal government rolls out new pay system

it went live twice

once in February 2016 and again in April 2016 with more clients

 

[JD1]

Those 13,000 tickets come with tax write-offs.

tax write offs aren't what they used to be. As a small business owner the write off is 15% and the CRA pays attention to the point you need to keep logs of who attends. And of course here locally you cannot take government clients

 

[Fandlauer]

Good article in the Sun from Rick Gibbons

Gibbons: Sens aren’t going anywhere, but maybe it’s time Melnyk did

If Melnyk really wants to know what’s gone wrong with the franchise, he needs to look in the mirror. Fans have tired of his threats. They believe (rightly or wrongly) that he interferes in hockey affairs (hello Kyle Turris). They’re convinced he’ll screw up the team’s future with star Erik Karlsson the same way they believe he pushed their beloved Alfie out of town in his final season.
Sure, some fans hate the drive to Kanata. But the biggest problem confronting this team is with ownership. Fans don’t trust Melnyk anymore and they don’t want him owning this team — their team.
It’s time he cashed out.

 

[Fandlauer]

And the insanity continues...

Eugene Melnyk suing Acerus for ‘gross mismanagement’

Eugene Melnyk suing Acerus for ‘gross mismanagement’ - The Globe and Mail

Canadian hockey magnate and former pharmaceutical executive Eugene Melnyk is taking legal action against Acerus Pharmaceuticals Corp., claiming that “gross mismanagement” by the maker of testosterone nasal gel has wiped out millions of dollars of shareholder value and driven the company into the ground.

According to people familiar with the matter, Mr. Melnyk, owner of the Ottawa Senators National Hockey League franchise, filed a notice of action with Ontario Superior Court in recent days seeking $145-million in damages from Acerus, which he founded. Such a notice can precede a formal statement of claim, which must be filed within 30 days.

The damages sought dwarfs the market value of Acerus, which is currently about $20-million. The company, launched by Mr. Melnyk as Trimel Pharmaceuticals Corp. before it changed its name last year, reported a loss of $9-million for 2015 on revenue of $16.9-million. It has not reported an annual profit for the past five years.
The shares, meanwhile, have collapsed, closing Tuesday at 9 cents, from a peak of $4.45 in April, 2012.

 

[PeterSidorkiewicz]

Testorone nasal gel, female viagra,securities fraud, constant lawsuits, being booted from his own company, failed Restaurant, Ukrainian hacking.

Eugene sure is interesting.

 

[Canadian Time]

This whole conversation is so draining. I'm at the point where any enthusiasm there is for watching the game is quickly fading away. Sports is supposed to be fun and engaging...it's not supposed to feel like we're being held at gunpoint to open our wallets.

Agreed, it's hard but just try to tune out the noise. These are super rich guys scrapping over amounts of money we can't really comprehend. I try to guess what the motivation is for these comments. Melnyk's comments were directly being fired at the NCC/government with fans being collateral. For sure he will get negative blowback and yes, maybe even a decline in attendance for the short term. He knows this but doesn't care, the few millions he may lose short term are peanuts compared to the end goal of a favourable deal at Lebreton. The comments were calculated.

It could be anything he's trying to get a better deal on; soil decontamination, tax on the arena, LRT, who knows, but it will be in the 10s of millions.

This stuff about the BOGs willing to force him out or others trying to buy his debt to force a sale is nonsense imo. Bettman and Daly know exactly what he's trying to do, they will even encourage it a bit to get the Lebreton deal done. But I bet they did tell him to shut up yesterday, he's not a good ambassador.

It's a high stakes game with dirty players on all sides. In the end, Ottawa is a fine hockey market, the deal will eventually get done, the team will stay and will be playing downtown. Unfortunately we will hear lots of bleating for awhile, it's just starting actually. Think of Friends of Lansdowne on steroids. Add to that we have the Toronto sports media weighing in with nonsense of their own.

How about a music analogy; Dogs by Pink Floyd.

 

[Fandlauer]

Testorone nasal gel, female viagra,securities fraud, constant lawsuits, being booted from his own company, failed Restaurant, Ukrainian hacking.

Eugene sure is interesting.

My favourite part:

The damages sought dwarfs the market value of Acerus, which is currently about $20-million. The company, launched by Mr. Melnyk as Trimel Pharmaceuticals Corp. before it changed its name last year, reported a loss of $9-million for 2015 on revenue of $16.9-million. It has not reported an annual profit for the past five years.
The shares, meanwhile, have collapsed, closing Tuesday at 9 cents, from a peak of $4.45 in April, 2012.

He is bleeding cash, but it's certainly not the Sens that are doing it.

 

[IpsoPostFacto]

tax write offs aren't what they used to be. As a small business owner the write off is 15% and the CRA pays attention to the point you need to keep logs of who attends. And of course here locally you cannot take government clients

s/b 50% I think (Meals and entertainment expenses - Canada.ca)
although, I think back in the day it was 100%. And yep, CRA does want to see that it is at least an attempt at generating business for the corp. and not just a way for the owner to buy seasons tickets so that friends and family can attend games. I wonder how have been caught for that?

 

[JD1]

s/b 50% I think (Meals and entertainment expenses - Canada.ca)
although, I think back in the day it was 100%. And yep, CRA does want to see that it is at least an attempt at generating business for the corp. and not just a way for the owner to buy seasons tickets so that friends and family can attend games. I wonder how have been caught for that?

yes the 50% is accurate. what I meant by 15% is

if I buy 4K in season tickets
I apply the 50% rule
I can claim 2K
On that 2K I save 15% in taxes owed to the feds. So yes a business can deduct tickets. it requires a log that verifies who is attending games and on the 4K you save 300 bucks tax.

 

[Stylizer1]

The Thrashers are the recent precedent for relocation. They relocated because they were tenants in an arena that didn't want them. No matter who owned locally, they weren't getting around that problem (lack of venue). We won't be in that situation - even if Melnyk somehow loses Lebreton to another developer, that developer will build an NHL rink and want the Senators to play there. The BoG will not allow him to move without first attempting to sell to another local ownership group, and there will be local ownership groups. So, no, he can't just get up and move like Winnipeg and Quebec did in the 90s.

The owners of the Thrashers were suing each other.

 

[FunkySeeFunkyDoo]

Testorone nasal gel, female viagra,securities fraud, constant lawsuits, being booted from his own company, failed Restaurant, Ukrainian hacking.

Eugene sure is interesting.

And some people try to say the Sens are boring!

 

[FolignoQuantumLeap]

And the insanity continues...

Eugene Melnyk suing Acerus for ‘gross mismanagement’

Eugene Melnyk suing Acerus for ‘gross mismanagement’ - The Globe and Mail

Last updated Tuesday, Mar. 08, 2016 6:43PM EST

 

[Fandlauer]

Last updated Tuesday, Mar. 08, 2016 6:43PM EST

My Bad. Travis Yost just tweeted it out 5 minutes before I posted it here.

 

[Do Make Say Think]

My Bad. Travis Yost just tweeted it out 5 minutes before I posted it here.

I'm not sure I consider Yost to be much better than Melnyk. Both are successful hacks, the worst kind of successful people AND the worst kind of hacks.

 

[coladin]

Yeah, I paid my $500 for a single game so you can go **** yourself.

That's on top of my ticket package which I've owned since 2003.

I'll say what I want about Melnyk.

If there's a problem, a good leader takes some responsibility for it.

He says, "We have to come up with a solution, we all have to be better."

You don't point fingers at the fans and say "It's all your fault!" and expect a positive response.

Kind of like what you're doing.

I'm not pointing my fingers to fans like you and others who go to the games, and neither is he. You go and support the team as do many. But as you know, many don't for a variety of reasons. If they don't go to show their disdain for the owner, that is only hurting the players and hurts the chances of fans who do not want to see the team gutted to establish a correlation between revenue and salaries.

As for me blanking myself...really? Stay classy, Nyquil. Class act buddy.

 

[coladin]

Not going to comment on the Ottawa situation (since I don't know anywhere nearly enough to render an opinion)...

Last time the Canucks were in the post-season:
Game 1 attendance........18,870 ("official" capacity = 18,910)
Game 2 attendance.......18,870
Game 5 attendance........18,870

No doubt the Canucks had a long lean period (just look back in history where the fans of the other team FAR outnumbered Canuckfans at the old Pacific Coliseum) - but at least in recent history, "freebie tickets" in the regular season isn't going to attract that much attention.

People make up a lot of stuff here to make themselves feel better.

 

[coladin]

Frankly, I hate being lumped into this group as if were all terrible fans. I consistently go to 15/20+ games a year and spend a ton of money this franchise. I personally feel insulted by Melnyk, I work hard for my money and I get garbage unappreciated treatment from the guy im giving all my money to. I want him gone. He is scum.

I cannot understand how you could be lumped in with those who don' t go. You are not who he is talking about.