Current Atlanta Owners Settle Ownership Dispute; Belkin Out

Discussion in 'Fugu's Business of Hockey Forum' started by StevenintheATL, Dec 22, 2010.

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  1. StevenintheATL

    StevenintheATL Registered User

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    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.
     
  2. Fugu

    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.
     
  3. LadyStanley

    LadyStanley RIP Fugu

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  4. LadyStanley

    LadyStanley RIP Fugu

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

    (Also in AJC had this part)

     
  5. Dave is a killer

    Dave is a killer Dave's a Mess

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  6. CHRDANHUTCH

    CHRDANHUTCH Registered User

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    doesn't help the NBA Hawks either as a distraction, it's just as quiet there when the Hawks play.
     
  7. Finlandia WOAT

    Finlandia WOAT Bench Constance Garnett

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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.
     
  8. Telfo

    Telfo THRASHERS(and Golden Knights too)

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    about time they got that crap sorted out, this can only be good for the team
     
  9. peter sullivan

    peter sullivan Winnipeg

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    leaves me to wonder if this is the first public chapter in an already written book.
     
  10. MAROONSRoad

    MAROONSRoad f/k/a Ghost

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    Indeed.

    GHOST
     
  11. Magnus Fulgur

    Magnus Fulgur Registered User

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    Well put. Stay tuned!
     
  12. GetPucksDeep

    GetPucksDeep Registered User

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

    Finlandia WOAT Bench Constance Garnett

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    Then congratulations! The turnaround continues unabated! :handclap::handclap:
     
  14. StevenintheATL

    StevenintheATL Registered User

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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). 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.
     
  15. Fourier

    Fourier Registered User

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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.
     
  16. worstfaceoffmanever

    worstfaceoffmanever These Snacks Are Odd

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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:
     
  17. AtlantaWhaler

    AtlantaWhaler Thrash/Preds/Sabres

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    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.
     
  18. AtlantaWhaler

    AtlantaWhaler Thrash/Preds/Sabres

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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.
     
  19. AllByDesign

    AllByDesign Who's this ABD guy??

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    Sure... 'Reinsdorf in again' :laugh:
     
  20. headsigh

    headsigh leave at once!

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  21. tarheelhockey

    tarheelhockey Highest Boss

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    Thank god that's over.
     
  22. Magnus Fulgur

    Magnus Fulgur Registered User

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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.
     
  23. Jeffrey93

    Jeffrey93 Registered User

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    They don't own the arena.
     
  24. Magnus Fulgur

    Magnus Fulgur Registered User

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    Yadda Yadda yadda...yeah, they lease it from the city. But everytime a concert or event is there they're making a killing off of it.
     
    Last edited: Dec 23, 2010
  25. tarheelhockey

    tarheelhockey Highest Boss

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    =\= committed to hockey in Atlanta.

    The NHL really needs to do a better job vetting owners.
     

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