coladin
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Speculation: Sens, Lebreton, and the NCC
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BonkTastic
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Take a Bath Son
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Cash flow to execute his part of the lebreton project; not cash flow to sustain a sinking ship in Kanata. He’s in the entertainment business and when it comes to sports, downtown arenas with mixed use developments are where it’s at. You can’t build a franchise in the burbs anymore and that is what he is publicly musing-staying in Kanata. There is a path and model for a very successful Ottawa Senators franchise but it has to involve moving downtown. If he can’t get it done, people would hope and expect he cash out and let the project happen. This is the business part of the game. He said it himself that lebreton was a blessing and a curse for him. The article below outlines what every other team is doing to build a successful model:
Welcome to the Neighborhood: America’s Sports Stadiums Are Moving Downtown
Mingus Dew
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BonkTastic
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Roadshowing an IPO or some form of securities? That's standard stuff.
Roadshowing to find financing because standard lenders won't touch you anymore? Less standard. From what I understand, it does happen, but it's also a sign that there is no liquid capital left.
Mingus Dew
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In fairness I don’t really know the details. But most large financings have a marketing period for syndication. So it’s a question of whether he was travelling hat in hand to banks and asking for a loan, or whether he was marketing the debt (probably with the help of certain banks acting as arrangers) to potential investors.
I’m not in the loop and shouldn’t have tried to handwave it, that’s my bad.
The fans will come ,if you are doing whatever it takes to win...All we get here is budget talk ,and threats to move the team for not buying into a weak on ice product....
Tnuoc Alucard
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Tnuoc Alucard
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Melnyk is not selling the team ........ and has stated so many times in the past year, and we have to get past the dream that some people have, who want a new owner to come in and "save the day" because, for whatever reason, they've come to dislike the current owner.
Yes he does not have a very diplomatic way of expressing himself, but he's telling the truth as he sees it.......... even if he's shooting himself in the foot on occasion.
To say that "he's running the team into the ground" would infer that he's doing it on purpose ........ and I don't buy that; it;s just not logical.
He's a businessman, who wants to at least turn a profit on his business ......... and declining attendance is a problem that his management group, lead by President and CEO Tom Anselmi has been working on since the end of last season.
We can all agree that for the past 25 seasons, int his expansion teams' history, the novelty of having the NHL in town has steadily worn off probably since the 2007 Cup run .................. and there are a lot of reasons why the drop in attendance has begun to hurt the bottom line, but the biggest one, for me is the location of the Arena and all that goes with that ...... the parking lot, poor public transit connections and lack of pre and post game atmosphere in and around the Arena.
It's obvious to everyone, that re-locating to Lebreton Flats will solve a number of issues, and most likley help the attendance issues, and stabilize the financial ability to fund the team with the added re-estate development opportunity that comes with re-vitalizing Lebreton Flats over the next two decades ............. and Melnyk is going all in on the Lebreton Flats project not just for the potential financial windfall of the re-estate aspect, but also to put the Senators on a sound stable foundation for the foreseeable future.
Micklebot
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No, because what he said conflicts with what somebody from the winning bid said. I figured since you claimed it was clearly indicated in the RFP, you'd be able to point it out and provide a quote. Instead, you deflect. Not a good look, just saying.
Tnuoc Alucard
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Micklebot
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So, the NHL provides a low interest line of credit for any teams that need it. I seem to recall reading up to 200 mil but I could be wrong there. Now, when it was initially introduced, there was an issue with CRA and they deemed it a taxible benefit or something to that effect wipping out the gain a team would get, so the canadian teams couldn't really get anything out of it. The article back then suggested the NHL was trying to remedy the situation, not sure if they have, and if I recall, it also suggested the banks Melnyk had been getting his loans from wanted out of sports financing all together, so it might not be a Melnyk thing so much as a sports thing. Purely speculation on my part, but there's not much to go on that I've read.
Micklebot
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Bonk already mentioned Petlz as one.
Here's a link suggesting Peltz and up to 10 buyers
The next owner of the Sens? | CBC Sports
Tnuoc Alucard
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Just because you won't take the word of the President of the Gatineau-based Devcore Canderel DLS, Billionaire businessman André Desmarais and Cirque du Soleil co-founder Guy Laliberté ......... I am........... you can say they're Liars if you want.
I'll also take the Senators owners' word, that his "bid" will not involve public money........ no doubt you will call him a liar also
Melnyk: Downtown arena key to Senators' success - NHL.com - News
Melnyk said the profits that would be generated by the retail and residential parts of his proposal would be invested in the Senators and would be critical to keeping the team competitive.
"We need more than just ticket revenue and sponsorship and that kind of stuff to be able to compete with the big markets. It's as simple as that," Melnyk said.
"[Renting the building from someone else] is a non-starter for a couple of reasons. One is the other revenues from the whole site get plowed into the Senators. I don't need this project for myself. I need it to make a success and my benchmark for success is winning a Stanley Cup. We're 13 years in and I haven't won a Stanley Cup yet. I think Ottawa deserves it. I want them to win. I want us to win and I want my name on the Cup, why not?"
Melnyk said no taxpayers' money would be involved in his proposal.
Tnuoc Alucard
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On what grounds could the BOG be able to force out one of their own??
Don't you understand that Bettman was hired by, and works for the BOG?
Tnuoc Alucard
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The prices at the CTC are what the management groups believes "the market can bear".
An Arena, centrally located directly on top of the LRT will have different market conditions than the current location ...... and prices will be set accordingly.
Micklebot
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And yet Ruddy, who was involved in the very same bid as Melnyk, was quite clear that gov't incentives would be key, whether it be things like the brownfields program or otherwise. He made that statement after the bids were submitted. I suspect what Melnyk is saying is his proposal doesn't involve any direct payment from the gov't for the initial development costs, but would likely have no issues going after tax breaks or other incentives, but who knows.
All I've asked is that you back up your claim about the RFP. It's publically available, so you can read it at your leasure. You said it was clear in the RFP, so I had assumed you actually read it, I guess not?
Tnuoc Alucard
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This link does not work, for some reason?
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Please try again from the homepage.
Joeyjoejoe
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Are you this thick headed? you still don't know why the hell fans don't like this owner? Seriously, you head is that far in the barbados sand?
Micklebot
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I guess when Sterling was forced out of the NBA commission Adam Silver, he forgot who he worked for?
I don't see anything Melnyk has done that would be sufficient for the NHL to try and force him out, I suspect much like the NBA they have specific guidlines in place to that detail when that's an option, but Bettman working for the BOG does not prevent him and the rest of BOG from enforcing whatever rules they have
Micklebot
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Works fine for me, but try googling the following, it came up as the first link for me
"the next owner of the sens Peltz buy sens CBC"
The next owner of the Sens? - Hockey - CBC - CBC.ca
Tnuoc Alucard
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I said some people dislike the owner "for whatever reason".
Do I have to explain that to you, as your comprehension skills seem to be lacking?
Did you want me to list all the reasons some people dislike the owner?
Do you assume that all people have the same reason(s) to dislike the owner?
"Whatever reason" simply means there are many reasons, not all people buy into all of them, and it does not infer I don't know what they are.
Micklebot
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Common use of the phrase and The Merriam dictionary suggests otherwise;
Definition of FOR SOME/WHATEVER REASON
Tnuoc Alucard
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You would have to be from Mars, and never participated in these forums to not know there are a number of reasons for some people to dislike the owner.......... Whatever the reason.
Micklebot
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Sure, but saying "whatever the reason" literally infers that you're not aware of it. that's all. Just trying to help.
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