AHL BOG meeting 5/8 UPD - Season cancelled

[CHRDANHUTCH]

I’m going to presume the independent teams could end up going that way. But he didn’t seem like it would actually happen.

which president are we referencing here.....Howson or Andrews....... Howson's the one incoming to handle this pandemic

 

[CHRDANHUTCH]

I'll be honest, i feel like all the AHL teams should be owned by the NHL club. Having this actually happen especially by independent teams is going through the whole affiliation into a mess. What is the NHL gonna do when you have 11 AHL teams not operating for a year for all those players?

good luck getting Hershey to be owned by any other entity other than the present one, tommy, it's illegal because Pennsylvania has the discretion to add or remove members from the trust advisory board that operates the franchise.

 

[TheLegend]

which president are we referencing here.....Howson or Andrews....... Howson's the one incoming to handle this pandemic

Read the link I posted.

 

[CHRDANHUTCH]

Read the link I posted.

I don't trust links because that season is over....

 

[royals119]

Hershey isn't owned...... it's a trust......that's why Hershey has never been subject to any sale or relocation discussions

Staff | Hershey Bears Hockey

Owner
Hershey Entertainment & Resorts Company

Hershey Bears are owned by Hershey Bears Hockey Club, a wholly owned sub-division of Hershey Entertainment & Resorts Company.

Now would be the time when you bring forward evidence that they are a trust and not a wholly owned sub-division of Hershey Entertainment & Resorts Company or your statement is rendered ab absurdo.

Now I wouldn't consider Wikipedia to be an authoritative source in general, but this article appears well researched and includes many footnotes and references.
Hershey Entertainment and Resorts Company - Wikipedia
There is a Hershey Trust Company - apparently originally organized as a banking company, which owns the Milton Hershey school and some community assets. That is different from the Hershey Entertainment and Resorts Company (HERCO), which is a privately held company that owns the Bears, HersheyPark, Hotel Hershey, Hershey Lodge, restaurants, etc. That company is not a trust and no evidence that the state of PA has any ability to appoint board members. They have owned various other hotels and entertainment facilities over the years, and sold them when they weren't profitable. Seems like it is possible that could happen with the Bears also. Unlikely since they have been so successful and are a local institution, but legally possible.

 

[CHRDANHUTCH]

Now I wouldn't consider Wikipedia to be an authoritative source in general, but this article appears well researched and includes many footnotes and references.
Hershey Entertainment and Resorts Company - Wikipedia
There is a Hershey Trust Company - apparently originally organized as a banking company, which owns the Milton Hershey school and some community assets. That is different from the Hershey Entertainment and Resorts Company (HERCO), which is a privately held company that owns the Bears, HersheyPark, Hotel Hershey, Hershey Lodge, restaurants, etc. That company is not a trust and no evidence that the state of PA has any ability to appoint board members. They have owned various other hotels and entertainment facilities over the years, and sold them when they weren't profitable. Seems like it is possible that could happen with the Bears also. Unlikely since they have been so successful and are a local institution, but legally possible.

actually, the Trust is all three, Royals BECAUSE THERE was a challenge back in 2011 and it gave the state rights to add or remove members..... it's a ten person board.... HERCO is part of the trust that was established, that is why they cannot be sold/transferred like you saw with SSE and Vegas, that will certainly be challenged legally....

Reese's is the same company as Hershey......

 

[LadyStanley]

Dave is AHL president until 6/30/2020.

Then Howson comes in 7/1/2020.

 

[CHRDANHUTCH]

Dave is AHL president until 6/30/2020.

Then Howson comes in 7/1/2020.

essentially, once Andrews gave that statement/interview to TSN1340 in Vancouver once the season was cancelled, LS, which is why it dragged on toward cancellation those last two weeks... essentially, that was Andrews final statement on his tenure the last 25 + years....

 

[royals119]

actually, the Trust is all three, Royals BECAUSE THERE was a challenge back in 2011 and it gave the state rights to add or remove members..... it's a ten person board.... HERCO is part of the trust that was established, that is why they cannot be sold/transferred like you saw with SSE and Vegas, that will certainly be challenged legally....

Reese's is the same company as Hersh[ey......

Pursuing Hershey is a different matter. A trust holds about 8.4 percent of the candy maker’s shares, but has about 81 percent of the company’s voting power. The shares of the company — both the common and the special Class B shares — are owned by the Milton Hershey School Trust, but are voted on by the Hershey Trust. The Milton Hershey School was founded in 1909 for underprivileged children by the company’s founder and his wife.
The trust has flexed its muscle several times over in the last two decades. When the Wm. Wrigley Jr. Company wanted to buy Hershey at a 42 percent premium in 2002, the trust called off the sale at the last minute.
When the trust became unhappy with Hershey’s performance and deal talks with Cadbury in 2007, it asked for the resignation of six directors.
And when Hershey wanted to challenge Kraft for Cadbury in 2010, a rift between the company and the trust forced the Pennsylvania chocolatier to bow out.

The above is from an article in the NY Times about a takeover bid for Hershey Chocolate. Indicates the Trust owns shares of Hershey Chocolate (and presumably Hershey Entertainment and Resorts), and has enough voting power to block a sale of assets, but doesn't indicate that the trust is prevented from selling assets if they choose. Even if there is a clause in the trust documents that prevents them from selling assets, they have made changes to the trust restrictions in the past. Another article indicates the school was originally only for orphan white boys, but the trust board has changed that to allow non-white economically disadvantaged youth to attend the school. If the Bears became a financial loser for HERCO the trust could conceivably vote to sell the team - even if there is some restriction in their original founding documents - if they wanted to bad enough. HERCO has sold off under-performing hotels and parks in the past.

The Trust, which consists of the school and some community assets is a different entity from Hershey Entertainment and Resorts, and from the Chocolate manufacturing company. The trust owns stock in the other other two entities, and some board members sit on multiple boards, and have conflicts of interest as a result - as well as conflicts in regard to other businesses they operate that do business with the trust, HERCO and the chocolate company - and they also draw rather large salaries for being on the board relative to other charity boards, which caused the PA A.G. to investigate them.

There are many reasons why the Bears won't be sold. They are making money, the company owns the arena, hotels, restaurants, and HersheyPark, all of which benefit from having the team there, the team is a central PA institution which generations of families have attended together. I have no doubt they will continue in Hershey for many many years to come. However, I don't believe that if things changed and the trust board wanted to sell the team (or relocate, or fold) that they couldn't do that. Certainly people would fight it, but in the end, if it was in the best interest of the trust, they could chose to sell, fold, or relocate the Bears.

 

[LadyStanley]

The architect: Dave Andrews' patient construction framed today's AHL

Nice feature on Dave Andrews. He'll be stepping away as president 6/30, but will remain as chairman of the board for three years.

Some speculation (blue skying) what the 2020-21 season might be for the AHL.


Edit
Some nice factoids about his 26 years.

Andrews has encountered a revolving door of obstacles over a 26-year run, including managing more than 230 changes in ownership, affiliation, and location. The modern AHL has at least one franchise in 15 states - 16 as of next season, when the Vegas Golden Knights relocate the Rampage to nearby Henderson, Nevada - and three provinces. Its footprint stretches across the continent, from Laval, Quebec, to San Diego.
...
The AHL has doubled in size under Andrews' watch. Palm Springs, California, will play host to the league's 32nd franchise, with the team also serving as the 20th AHL affiliate owned by its parent club when it begins play in 2021 as the affiliate for the NHL's expansion team in Seattle. Meanwhile, annual league revenues have jumped from around $25 million in the early 1990s to around $160 million in the late 2010s. Franchises valued at roughly $1 million 10 years ago are worth closer to $10 million.

 

[Big Z Man 1990]

It's only a matter of time before the NHL cancels too. I don't see a point in resuming 19-20. All efforts should be driven towards hosting as many games in 20-21 as possible instead.

 

[gstommylee]

It's only a matter of time before the NHL cancels too. I don't see a point in resuming 19-20. All efforts should be driven towards hosting as many games in 20-21 as possible instead.

They are planning to go straight to playoffs. The only reason why that is happening is cause of TV contract.