#Melnykout/The Melnyk problem

[armani]

That story has been up for over 4 hours, it got updated less than an hour ago. Warren tweeted the link earlier this morning.

My interweb research bad. For local scribes, these guys are usually far behind, intentionally or otherwise, and potentially the worst.

 

[armani]

Melnyk was asked about rumours about selling the Senators in December (NOT November) to which he replied, as he always has when asked, that he is NOT selling the Senators.

The sooner you come to grips with the reality of this situation, the sooner you can focus your energy into something that might make a difference.

http://ottawasun.com/sports/hockey/...tors-owner-melynk-not-selling-the-team-period

Oh the irony...lol.

 

[topshelf15]

Every time i drive by the CTC i see less and less corporate logo,s on the sides of a once AD plastered building...Humm

 

[Qward]

I'm sure they'd rather the ~$500 million they'd get for selling.

You think that's how much she'd get? The team was bought through debt and refinanced, again and again.

If you buy a house via a mortgage for $127,000. You get a housing line of credit. You remortgage and never pay more than the bare minimum on the loans. Refinance, again and again. A realtor stops by to tell you that they think your house is worth $420,000.
You don't get the $420,000. Your debts have racked up to $370,000.

So you make $50,000. Good enough right? Not in your mind, you paid $97,000 over the past 15 years.

That is Melnyks mentality.

 

[Micklebot]

You think that's how much she'd get? The team was bought through debt and refinanced, again and again.

If you buy a house via a mortgage for $127,000. You get a housing line of credit. You remortgage and never pay more than the bare minimum on the loans. Refinance, again and again. A realtor stops by to tell you that they think your house is worth $420,000.
You don't get the $420,000. Your debts have racked up to $370,000.

So you make $50,000. Good enough right? Not in your mind, you paid $97,000 over the past 15 years.

That is Melnyks mentality.

I mean, the team is estimated to have around 130 mil in debt, and is valued at 420. So that's ~300 mil before the next expansion, the team finalizing a move to lebreton, and the deciison to legalize single event gambling in the entire US. If and when she inherits/sells the team, 500 mil isn't an unreasonable guess at what she'd take home.

Also, not sure where the 370 number is coming from.

 

[topshelf15]

You think that's how much she'd get? The team was bought through debt and refinanced, again and again.

If you buy a house via a mortgage for $127,000. You get a housing line of credit. You remortgage and never pay more than the bare minimum on the loans. Refinance, again and again. A realtor stops by to tell you that they think your house is worth $420,000.
You don't get the $420,000. Your debts have racked up to $370,000.

So you make $50,000. Good enough right? Not in your mind, you paid $97,000 over the past 15 years.

That is Melnyks mentality.

Yep,the debt load he has placed on this team is unessesary

 

[BonkTastic]

Iam of the belief that the league wants him out TBH

There's not a doubt in my mind that the league would prefer a scenario where he sells the team to another owner, and that the Lebreton arena proceeds without any hiccups.

 

[BondraTime]

Honestly though, at least the Ottawa Senators are entertaining off the ice, because this gonghow is like a train going off the tracks that you can't look away from. Pretty incredible how you think "you know, at least it can't get worse", and then are abruptly told to hold the Sens beer while they dive into a bigger shit storm.

 

[JimmySpaetzle]

What a time to be a Sens fan I have honestly run out of words at this point. Just a gong show

 

[TkachukNorris79]

Soooo I just saw this on twitter. Not sure how credible it is. But woah.

 

[Sensung]

Soooo I just saw this on twitter. Not sure how credible it is. But woah.

Holy Crap...I PRAY that this is true.

Would change everything!

 

[Ivan13]

Soooo I just saw this on twitter. Not sure how credible it is. But woah.

I genuinely hope this turns out for the best for you guys, even though I have a vested interest in you guys doing poorly next year.

Good luck,

Avs/Habs fan

 

[Ray Kinsella]

Silver lining: being a Sens fan is never boring!

 

[Senscore]

The time has come for total war.

 

[Gil Gunderson]

What can we f***ing do? What steps can we take to make this man’s life a living hell?

 

[Spartachat]

Soooo I just saw this on twitter. Not sure how credible it is. But woah.

What did it say? The account seems to have been suspended.

 

[Neil Patrick Harris]

The time has come for total war.

Well, I've got Shogun II and Napoleon installed, but I also have Empire and the Warhammer ones.

 

[Senscore]

What can we ****ing do? What steps can we take to make this man’s life a living hell?

Do what we do best. Make the environment so putridly toxic he has no choice but to leave.

 

[Senscore]

Well, I've got Shogun II and Napoleon installed, but I also have Empire and the Warhammer ones.

Right. Total war, but only after Total War.

 

[Gil Gunderson]

Do what we do best. Make the environment so putridly toxic he has no choice but to leave.

You can’t beat him at his own game.

 

[Neil Patrick Harris]

You can’t beat him at his own game.

This is the Sens we're talking about. Anybody can beat them.

 

[Studzle]

I truly feel bad for all the young kids who aren't going to understand why Karlsson was traded. Imagine watching him night in and night out, even at that age knowing how special he is.

What a f***ing shame.

 

[edguy]

Holy Crap...I PRAY that this is true.

Would change everything!

What did it sayy? Tweets were deleted...

 

[Six Assets]

What did it sayy? Tweets were deleted...

basically what WC alluded to in his now locked thread...

 

[Gil Gunderson]

What did it sayy? Tweets were deleted...

It was the one about the bridge loan and Cirque being pre-approved buyers.

One of these days we'll get some positive news...