Rumor: Ottawa Senators in for potential Ownership Change

[L'Aveuglette]

No. There is zero chance of a move to QC while Lebreton is pretty much an inevitability .

Only if you believe the Sens are a solid enough franchise that they can survive in Kanata for another 5-7 years.

 

[Golden_Jet]

NCC said last year...no updates until November 2017, last week said there is an update coming in January.

 

[Masked]

Only if you believe the Sens are a solid enough franchise that they can survive in Kanata for another 5-7 years.

That's not an issue, especially if and when Melnyk sells.

 

[Back in Black]

No plans to sell the Ottawa Senators

 

[Pierre from Orleans]

For god's sake, it's is M-E-L-N-Y-K. Six letters. Don't let others who can't figure it out drag you down to their level. I know you can spell it.

You'd think having Melnyck as our owner for so many years people would at least spell his name right.

 

[Nac Mac Feegle]

They are dealing with the NCC. It will take years. Consultation with the public, aboriginal groups being built on "unsurrendered Algonquin territory etc." , as well as many other interested parties. Their mandate is to do what they deem is best for Canada, the city of Ottawa and the NHL are irrelevant to them. Not saying it won't happen, but this will be an insanely long process. Another problem unique to Ottawa.

And that's what worries me. The NCC is a bureaucratic monster. I don't trust them an inch.

SensChirp isn't the only one reporting on this. Don Brennan got the ball rolling. Now Dreger is doing his part for the league/Melnyk trying to put out the fire.

That's the problem with social media....one report comes out, and suddenly there's an avalanche of folks re-posting/tweeting it without verification.

Personally, I think Melynk is having a hard time financially with this huge deal and might need to pass it on to a bigger wallet, but I'm not willing to call these rumors true.....yet. Unless a McKenzie or a good Citizen (well, after the Sun merger even that is up in the air on their credibility) article comes forward saying something.

 

[Stylizer1]

You'd think having Melnyck as our owner for so many years people would at least spell his name right.

You no?

 

[coladin]

1989 - 18,504.9 (52.91% of capacity)
1988 - 20,406.2 (58.35% of capacity)
1987 - 18,354.4 (52.48% of capacity)
1986 - 18,278.1 (52.26% of capacity)

And those are with minor league ticket prices. Remember when Bruce Firestone raised the prices and a whole lot of those "loyal" fans started screaming bloody murder?

Keep going to 96 bud, I know you saw them. I went back to 81 right up to 96 and by and large over 20K

 

[JD1]

Only if you believe the Sens are a solid enough franchise that they can survive in Kanata for another 5-7 years.

you don't think they can survive for 5 years in Kanata?

 

[Qward]

No plans to sell the Ottawa Senators

Funny how the title says one thing but the guy in the segment suggests otherwise.

 

[bert]

When you are selling draft picks for team's to take players you can't afford the team. He clearly needs to sell and everyone will publicly deny it until it's a done deal. They have to... Lol you expect people to come out and say it's happening when negotiations are likely going on?

 

[BondraTime]

When you are selling draft picks for team's to take players you can't afford the team. He clearly needs to sell and everyone will publicly deny it until it's a done deal. They have to... Lol you expect people to come out and say it's happening when negotiations are likely going on?

Really shouldn't need to be said.

Making matters worse, the 2nd from the Zib trade that we were forced to sell for 2 million is looking to be around ~35th overall.

 

[Wondercarrot]

OK, I get it, he's dead broke, but is just hiding it well.

He isnt hiding it well at all.
It truly is the worst kept secret in town; they've had impromptu audits over the last number of years, hedge fund bridging payrolls he cant meet, outside potential buyer gobbling up his debt.
You claimed earlier you dont know a single person who hates him - no offence but maybe you dont know the people doing business in this city, the people at city hall he needs to move the project forward, the people who have left the sens (management, front office, players). Then there are the people who are simply turned off by his buffoonery, bluster and find his re-found booziness despite being given a liver to be somewhat less than admirable.

 

[Wondercarrot]

No. There is zero chance of a move to QC while Lebreton is pretty much an inevitability .

there is zero chance regardless as the owners will never tolerate the loss of $500 million franchise fee.
its really that simple.

 

[branch]

you don't think they can survive for 5 years in Kanata?

Definitely not. I am not an economist but I think it is pretty plain to see the epic financial struggle that is happening right now. I think it's a financial impossibility that the team remains in Kanata for 5 years with Melnyk owning the team. Maybe if someone else with deeper pockets owned the team.

 

[Tnuoc Alucard]

He isnt hiding it well at all.
It truly is the worst kept secret in town; they've had impromptu audits over the last number of years, hedge fund bridging payrolls he cant meet, outside potential buyer gobbling up his debt.
You claimed earlier you dont know a single person who hates him - no offence but maybe you dont know the people doing business in this city, the people at city hall he needs to move the project forward, the people who have left the sens (management, front office, players). Then there are the people who are simply turned off by his buffoonery, bluster and find his re-found booziness despite being given a liver to be somewhat less than admirable.

I'm not saying there are not people, fans, in this area that dislike the owner, for whatever reasons they have .......... but the reply I made was disputing the "Hate the owner" claim, and I can't believe a majority of people, fans, fall into that category.

I'd also like to add that all those who claim he is in extreme financial trouble, have yet to explain how the NCC, in their due diligence investigations into the Lebreton bidding process, did not discover these alleged financial problems, and ended up awarding his group the rights to the development.

I suspect if there was any indication that his group would not have the financial backing, and the ability to carry the project forward as claimed in the bidding process, that the NCC would not have awarded his group the rights to develop.

I'll wait for real evidence, rather than assuming the rumours have the substance that many seem to want to believe.

 

[Tnuoc Alucard]

Definitely not. I am not an economist but I think it is pretty plain to see the epic financial struggle that is happening right now. I think it's a financial impossibility that the team remains in Kanata for 5 years with Melnyk owning the team. Maybe if someone else with deeper pockets owned the team.

links to support the claim of "pretty plain to see the epic financial struggle that is happening right now" ??

 

[Masked]

Definitely not. I am not an economist but I think it is pretty plain to see the epic financial struggle that is happening right now. I think it's a financial impossibility that the team remains in Kanata for 5 years with Melnyk owning the team. Maybe if someone else with deeper pockets owned the team.

If I had to bet money on it, I'd say the team will still be Kanata when Melnyk finally loses ownership.

 

[branch]

links to support the claim of "pretty plain to see the epic financial struggle that is happening right now" ??

Aren't you the guy that doesn't understand that even though he is worth 1.15 billion he can still be cash strapped when it comes to operating a hockey team that requires a monumental amount of cash flow? Are you implying the team is in tip top shape financially? Melnyk has been on record saying he's lost over 100m$ operating the team, he can't fill the arena, he can't pay players. He is definitely operating at a loss. What stake do you hold for Melnyk? Are you related or something?

 

[branch]

If I had to bet money on it, I'd say the team will still be Kanata when Melnyk finally loses ownership.

I agree with that. He has to tap out eventually. And with the way the NCC operates it'll be a couple years until we see shovels in the ground. I don't see Eugene's tenure lasting that long.

 

[JD1]

Definitely not. I am not an economist but I think it is pretty plain to see the epic financial struggle that is happening right now. I think it's a financial impossibility that the team remains in Kanata for 5 years with Melnyk owning the team. Maybe if someone else with deeper pockets owned the team.

what epic financial struggle?

 

[Micklebot]

I don't know that it qualifies as epic, but here are just a couple strains on his finances:
Lose access to NHL low interest loans resulting in 150 mil financing deal estimated wat 10% or higher interest rate
NHL’s low-interest line of credit ruled offside in Canada
Sued for 1.55 mil by former executive
Former Ottawa Senators executive sues Melnyk, team for $1.55M; alleges discord behind the scenes
Team Lost 94 mil
Under Eugene Melnyk, Senators have lost $94 million


I think he divorced which could have some implications, and there were some failed ventures like the orgasm nasal spray, and his attempt to build a casino that probably hurt him financially. The Canadian dollar being where it's at doesn't help at all either.

 

[branch]

what epic financial struggle?

Maybe epic is hyperbolic in this case but lets just use the word "shitshow" as a placeholder.

 

[otown]

From a business perspective the franchise has gained value with LeBreton Flats on the horizon, but you need deep pockets in order to have this come to fruition. Expenses for the move and construction, the low Canadian dollar, multiple player contracts coming up etc. etc. make this a viable option for Eugene to take the profit now and run. He can still be a fan!

 

[Fandlauer]

From a business perspective the franchise has gained value with LeBreton Flats on the horizon, but you need deep pockets in order to have this come to fruition. Expenses for the move and construction, the low Canadian dollar, multiple player contracts coming up etc. etc. make this a viable option for Eugene to take the profit now and run. He can still be a fan!

Let's be real though, we all know he'd cheer for the Leafs.