Current Atlanta Owners Settle Ownership Dispute; Belkin Out

StevenintheATL

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Jun 12, 2004
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The ATL!
Steve Belkin is out as one of the members of Atlanta Spirit, as an agreement has been reached to buy him out. Michael Gearon and Bruce Levenson will serve as managing partners.

http://thrashers.nhl.com/club/news.htm?id=547096

While it doesn't end the speculation in regards to the team's future, this settlement does pave the way to bring in additional investors or perhaps a new ownership group, as the lawsuit between Belkin and the rest of Atlanta Spirit LLC was more than likely a roadblock to any new investors.
 

Fugu

Guest
I moved this to its own thread. It's an issue that has dogged the team for years, and while related to the speculation about future owners, this deserves its own tag line.
 

LadyStanley

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Sep 22, 2004
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http://www.theglobeandmail.com/spor...ss1&utm_source=twitterfeed&utm_medium=twitter
AP story

(Also in AJC had this part)

Levenson said he has had no success seeking additional investors for the Thrashers. He said he didn't know if the end of the lawsuit would make it easier to find investors who want to keep the Thrashers in Atlanta.
“That's possible,†Levenson said. “I don't know if somebody out there was reluctant to raise their hand because of the lawsuit.â€
 

Finlandia WOAT

js7.4x8fnmcf5070124
May 23, 2010
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Was he the one that actually cared about hockey?

If so then that means they are most likely being sold, to whom it remains unclear.

That stinks, with the new core they have, they are really turning things around.
 

GetPucksDeep

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Oct 29, 2005
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Was he the one that actually cared about hockey?

If so then that means they are most likely being sold, to whom it remains unclear.

That stinks, with the new core they have, they are really turning things around.

No - he was the one who was only interested in the NBA. If he had his preference, he'd only be an NBA owner.
 

StevenintheATL

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Jun 12, 2004
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The ATL!
No - he was the one who was only interested in the NBA. If he had his preference, he'd only be an NBA owner.

Prior to teaming up with Atlanta Spirit, he tried to buy the Celtics twice (pulled out of the bidding the first time [1983] and was outbid later on when the team was back on the market). He was also part of one the ownership groups that was vying for the Charlotte expansion franchise that became the Bobcats but was outbid there as well. He also failed to buy into the Patriots as well.

http://www.bostonmagazine.com/articles/hoop_dreams/

It's a four year old article, but it gives some background on Steve Belkin and also covers some of the controversies involving him from the early days of Atlanta Spirit into the Joe Jackson matter that triggered this long soap opera.
 

Fourier

Registered User
Dec 29, 2006
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Anyone have a good idea for the thread title of part XXXVII of the up-coming Atlanta Thrasher epic?

My sympathies to Thrasher fans. These ownership nightmares are a huge drain on one's enthusiasm.
 

worstfaceoffmanever

These Snacks Are Odd
Jun 2, 2007
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Awesome news. Now they can focus more on building on their on-ice success without this circus looming overhead. Glad to see things are finally starting to look up for the Thrashers this year. :thumbu:
 

AtlantaWhaler

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Jul 3, 2009
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“That's possible,†Levenson said. “I don't know if somebody out there was reluctant to raise their hand because of the lawsuit.â€

Who would buy into a group of idiots battling themselves in court? And as far as finding an owner goes, the whole point of the litigation was to determine a value so Belkin could be bought out.

Yeah, I would think the lawsuit played a roll.
 

AtlantaWhaler

Thrash/Preds/Sabres
Jul 3, 2009
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Prior to teaming up with Atlanta Spirit, he tried to buy the Celtics twice (pulled out of the bidding the first time [1983] and was outbid later on when the team was back on the market).

Someone please correct me if I'm wrong as I don't want to give false info, but I could of sworn hearing that Belkin is a huge Boston sports fan. I believe I heard that, in the first couple years of their ownership, he wore a Bruins jersey in the owners box at Philips when they were in town playing the Thrashers. He was a huge problem from the start.
 

Magnus Fulgur

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Nov 27, 2002
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Someone please correct me if I'm wrong as I don't want to give false info, but I could of sworn hearing that Belkin is a huge Boston sports fan. I believe I heard that, in the first couple years of their ownership, he wore a Bruins jersey in the owners box at Philips when they were in town playing the Thrashers. He was a huge problem from the start.

He is (understandably) a huge Boston sports fan. He has season tix to both the Celtics and the Bruins, and his empire grew from having credit cards that were customized for your favorite sports teams.

I don't understand why Atlanta Spirit let him in the group, and I don't understand why the NHL let this group as it was configured buy the team. A Boston basketball guy, two guys from DC who like hockey a bit, and then some Atlanta basketball guys. Doesn't make sense. I suppose the league thought Hey, they'll own a great arena and have two franchises - if one doesn't do well at times, they'll be stable with the other! Seems like a fool-proof plan...unless you do a faceplant trying to execute it, as they have done.
 

Jeffrey93

Registered User
Nov 7, 2007
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He is (understandably) a huge Boston sports fan. He has season tix to both the Celtics and the Bruins, and his empire grew from having credit cards that were customized for your favorite sports teams.

I don't understand why Atlanta Spirit let him in the group, and I don't understand why the NHL let this group as it was configured buy the team. A Boston basketball guy, two guys from DC who like hockey a bit, and then some Atlanta basketball guys. Doesn't make sense. I suppose the league thought Hey, they'll own a great arena and have two franchises - if one doesn't do well at times, they'll be stable with the other! Seems like a fool-proof plan...unless you do a faceplant trying to execute it, as they have done.

They don't own the arena.
 

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