News Article: Devcore is willing

[Tnuoc Alucard]

ARE YOU THAT ****ING THICK IN THE HEAD YOU **** ASS ROBOT?

You said article to indicate the counter lawsuit dumbass, that's what I provided you, you thick headed idiot.

try again.

I posted

I'm sorry ........ but did I miss this "Counter Lawsuit" that you and others keep talking about?

I don't know of one, or heard of one, or can find anything on it, when doing an internet search.

No news articles found for John Ruddy counter lawsuit Melnyk.

You've not provided any information that shows that Ruddy/Trinity has filed a counter suit to Melnyks lawsuit.'

 

[topshelf15]

It's gotta be Desmarais...Guy Laliberte is too busy with his literal pyramid scheme

Ties in the hockey world run deep,was born in Ottawa yep seems like a no brainer TBH

 

[Gil Gunderson]

For those who need to get caught up:

Devcore:
- have all the money to build Lebreton
- have the plan and willingness to accelerate project
- have a buyer for the Senators
- lots of friends in the NHL and govt offices

Rendezvous:
- I’ll sue you
- can you give me $700 milllion
- We just got a new DJ

Don’t forget about the support from supermodels!

 

[FlyingJ]

I don't think Ruddy has the wealth to buy the team himself - he'd need a partner with big pockets. His only real move, at this point, is to make up with Melnyk.

If Devcore, on the other hand, brings Desmarais and Laliberte to the table? Well that's when things get interesting.

Paul Desmarais is the 7th richest person in Canada, with a net worth of $5.58 billion, while Guy Laliberte has a net worth of $1.37 billion. If they were to purchase the team together, Ottawa would be in the top 5 in terms of wealthiest team ownership groups.

In comparison, Eugene Melnyk's net worth is an estimated $1.21 billion, putting him in the bottom 10 of NHL owners.

Will it happen? Well, it's still anyone's guess. But if Desmarais is willing to come to the table, that makes things real interesting for the NHL.

And it's important to remember that a big part of Melnyk's net-worth is the Senators and the CTC. Without them, he wouldn't be a billionaire, as opposed to when he first bought the team.

 

[MiscBrah]

try again.

I posted



You've not provided any information that shows that Ruddy/Trinity has filed a counter suit to Melnyks lawsuit.'

I already explained to you that nothing has been filed yet, it will be filed on or before December 24th. Something will be filed, it's just a matter of when. There's no point in filing this early when you have another 20 days.

 

[GrantLemons]

And it's important to remember that a big part of Melnyk's net-worth is the Senators and the CTC. Without them, he wouldn't be a billionaire, as opposed to when he first bought the team.

Yea I feel like people overlook this when discussing EM's net worth. What is he without the Sens and the CTC? Is he even a .5 billionaire? That just doesn't seem like enough to be a pro sports owner in 2018.

 

[BonkTastic]

Honestly, $21 million for Seattle expansion seems like a drop in the bucket considering how much debt the team is carrying.

I don't think that payout has any bearing on Melnyk's timeline of selling. I think he only sells when he has no moves left to make, and is checkmated into retreating to Kanata to a building with no hot water, and dwindling attendance numbers.

If the $21mil expansion payout is somehow a roadblock to a hypothetical sale of the team, just add $21mil to the sale price of the team. A new owner would just recoup that amount when Seattle pays their expansion fee.

It's not rocket appliances here.

 

[bert]

My belief is it will get sold for 575 if it does. I think the 700 is a pipe dream from Euge and he will settle pretty much in the middle of the 700 and the previous offer which I thought was 450 (can't find where I got this from).

Carolina just sold for $420 Million. The sens need a new rink to be built, no way they sell for over 500. Sucks to suck Eugene but you shouldnt be driving the value of the organization down while you screw everyone over around you.

 

[DueDiligence]

Guy Laliberté is the guy who runs the circque who is also on devcore.

All the stories about his interest on the team, Melnyk acknowledging he had received offers on the team however "they weren't good" could be lining up.

Actually Guy Laliberte sold most of his interesti n Cirque du Soliel a few years ago. Still worth $ 1.6 billion (Cdn $)

 

[coladin]

I don't think Ruddy has the wealth to buy the team himself - he'd need a partner with big pockets. His only real move, at this point, is to make up with Melnyk.

If Devcore, on the other hand, brings Desmarais and Laliberte to the table? Well that's when things get interesting.

Paul Desmarais is the 7th richest person in Canada, with a net worth of $5.58 billion, while Guy Laliberte has a net worth of $1.37 billion. If they were to purchase the team together, Ottawa would be in the top 5 in terms of wealthiest team ownership groups.

In comparison, Eugene Melnyk's net worth is an estimated $1.21 billion, putting him in the bottom 10 of NHL owners.

Will it happen? Well, it's still anyone's guess. But if Desmarais is willing to come to the table, that makes things real interesting for the NHL.

Yes, money makes strange bedfellows. It is on both of their best interests to make up. Devcore bringing some outside pressure may actually force them back to the bargaining table.

Devcore may leave a parcel of land for an arena as they start the other parts of their plan. But they will not build a 500M elephant as Sensung thinks. That is not how they became billionaires playing chicken with that kind of money.

Either way, a welcome dose of outside pressure on an already precarious and turbulent situation. Would make a good episode on "Billions" !!!

 

[West Coast Eagles]

Carolina just sold for $420 Million. The sens need a new rink to be built, no way they sell for over 500. Sucks to suck Eugene but you shouldnt be driving the value of the organization down while you screw everyone over around you.

Maybe poor phrasing on my part in the original post, apologies. I believe that Melnyk wants 575 and would sell for that. Noting that Euge appears to be driven strongly by ego I could see him sticking to this ask despite evolving circumstances, hence why i expect the Sens would be sold near that number. Hope that makes better sense.

Edit: conversely he may go down with the ship resulting in him getting nowhere near this figure.

Acknowledge that this is a vastly larger value than Carolina.

 

[coladin]

Funny, you and your merry band of brothers also keep labeling people, I just saw you call somebody a gas lighter, you constantly call people haters, and here you are calling them labelers.

You're a hypocrite. What's fun to watch is you guys continually back tracking.

"Gaslighting: is not a gaslighter. Or hypocrite. Or hater. Funny, I usually do well to stay away from labeling people.

Like I said earlier, grow up and stay on topic and enough with the gratuitous pot shots and derailments.

 

[coladin]

Thanks Mod. Really appreciate you finally admitting that there is a tire fire surround the CTC right now started by Melnyk. Didn't know he started the fire with gas though, though it was mostly lit with hot air.

Never said everything was fine and dandy. I cant help with how you perceive posts .

 

[coladin]

Weren't you the one that started labelling people as "bad fans"? Or was that Count? Pretty sure it was you though. So, I will label you as the guy who started the "labelling".

Gosh that was a while ago. Don't bother with that much anymore. Not because I don't believe it but it just derails things. Better to be polite and well mannered.

 

[BonHoonLayneCornell]

No matter what, this can only be seen as good news.

Maybe one day we'll have a respectable owner in Ottawa.

 

[Engineer]

Like I said earlier, grow up and stay on topic and enough with the gratuitous pot shots and derailments.

Nah, I'll do me and call you out for being a hypocrite 10/10 times. The evidence is there, you are a blatant hypocrite, so you can look in the mirror and get over yourself, you and your Melnyk fans are the worst for derailed topics; you just did it again, well done

Gaslighting: is not a gaslighter. Or hypocrite. Or hater. Funny, I usually do well to stay away from labeling people.

There are multiple examples of you labeling people on this thread alone. Are you unaware of your own actions?

 

[GCK]

Carolina just sold for $420 Million. The sens need a new rink to be built, no way they sell for over 500. Sucks to suck Eugene but you shouldnt be driving the value of the organization down while you screw everyone over around you.

Karmanos sold about 60% of the Hurricanes. The enterprise value was 420M USD including the arena operating rights. This was 3.9 times revenues.

The last Forbes valuation had the Sens at 420M USD including CTC and revenues at 135M USD.

Assuming revenues have dropped due to lower attendance and exchange rate it would still likely be over 120M.

420M USD is about 570M CDN. I doubt Betteman and the BOG approve a sale for less, as franchise valuation is so important to the current business model.

 

[West Coast Eagles]

Karmanos sold about 60% of the Hurricanes. The enterprise value was 420M USD including the arena operating rights. This was 3.9 times revenues.

The last Forbes valuation had the Sens at 420M USD including CTC and revenues at 135M USD.

Assuming revenues have dropped due to lower attendance and exchange rate it would still likely be over 120M.

420M USD is about 570M CDN. I doubt Betteman and the BOG approve a sale for less, as franchise valuation is so important to the current business model.

Actually this is really brings up a good point that I completely ignored in my posts - source currency of the lawsuit and sale value. My thinking was predicated on an incorrect assumption that they were both filed in the same currency. I probably need to rethink my earlier posts based on this.

 

[Tnuoc Alucard]

I already explained to you that nothing has been filed yet, it will be filed on or before December 24th. Something will be filed, it's just a matter of when. There's no point in filing this early when you have another 20 days.

I'm sorry, I must have missed it, in your long post.



Thank you for confirming that there is no counter suit filed (yet) by Ruddy Trinity ........... there were a number of posts were people were talking as if it had been filed already .......... they're mistaken, and that is what I was trying to clarify.

Thanks

 

[coladin]

Nah, I'll do me and call you out for being a hypocrite 10/10 times. The evidence is there, you are a blatant hypocrite, so you can look in the mirror and get over yourself, you and your Melnyk fans are the worst for derailed topics; you just did it again, well done



There are multiple examples of you labeling people on this thread alone. Are you unaware of your own actions?

Depends on your level of comprehension I guess. Cheers

 

[NorthCoast]

Yea I feel like people overlook this when discussing EM's net worth. What is he without the Sens and the CTC? Is he even a .5 billionaire? That just doesn't seem like enough to be a pro sports owner in 2018.

Bagnall: How Melnyk carries on despite setbacks in business and health

This is a pretty good article recapping his wealth. Doesn't have a current total, but he was worth 800 mil Canadian in 2009.

300 was the sens which are already leveraged to the teeth. (ie: no stadium money there)

So 500 mil split up in 2009 between Acerus and other investments, horseracing, personal investment/assets.

Since then none of his smaller biotech investments have panned out, he sold his horses (at market value?), and he went through a divorce.

Let's be conservative and say the divorce was 50 mil, 50 mil still tied up in investments, that the other lost assets did not decrease his wealth, and only 50% of his cash is trapped in Barbados.

That leaves around 200 mil Canadian in 2009 dollars, which might be 300 mil today based on the market recovery since 2008.

Is 300 mil Canadian enough?

Vs

the Desmarais family with 5+ billion.


If I were Bettman which would I choose...so difficult to decide.



PS: this article pretty much confirms what I have been saying regarding team not losing money since 2014 when the local TV deal kicked in. And why EM crying pour at the outdoor game while buying investing in new start-ups doesn't go over well. Also pretty much confirms that EM has not invested any actual cash into the sens, but rather just loaded them up with more debt to cover loses pre-2014.

 

[swiftwin]

Bagnall: How Melnyk carries on despite setbacks in business and health

This is a pretty good article recapping his wealth. Doesn't have a current total, but he was worth 800 mil Canadian in 2009.

300 was the sens which are already leveraged to the teeth. (ie: no stadium money there)

So 500 mil split up in 2009 between Acerus and other investments, horseracing, personal investment/assets.

Since then none of his smaller biotech investments have panned out, he sold his horses (at market value?), and he went through a divorce.

Let's be conservative and say the divorce was 50 mil, 50 mil still tied up in investments, that the other lost assets did not decrease his wealth, and only 50% of his cash is trapped in Barbados.

That leaves around 200 mil Canadian in 2009 dollars, which might be 300 mil today based on the market recovery since 2008.

Is 300 mil Canadian enough?

Vs

the Desmarais family with 5+ billion.


If I were Bettman which would I choose...so difficult to decide.



PS: this article pretty much confirms what I have been saying regarding team not losing money since 2014 when the local TV deal kicked in. And why EM crying pour at the outdoor game while buying investing in new start-ups doesn't go over well. Also pretty much confirms that EM has not invested any actual cash into the sens, but rather just loaded them up with more debt to cover loses pre-2014.

Wait, Melnyk isn't a billionaire? He's been lying to us all this time?

Confirmed, Melnyk is Russ Hanneman:

 

[BatherSeason]

Thank you for confirming that there is no counter suit filed (yet) by Ruddy Trinity ........... there were a number of posts were people were talking as if it had been filed already .......... they're mistaken, and that is what I was trying to clarify.

Nobody knows if one has been filed or not. Not everyone is like Melnyk and runs to his media lapdogs the moment his suit was filed.

 

[RyCam]

I believe Melnyk is richer than what we believe, the problem is that a lot of his wealth is stashed away in the Caribbean. He's not even going to entertain the thought of bringing any of that cash over because he will almost certainly get tagged by the CRA immediately.

 

[MiscBrah]

Nobody knows if one has been filed or not. Not everyone is like Melnyk and runs to his media lapdogs the moment his suit was filed.

I guarantee that reporters are checking the court file every day. We'll know as soon as it is served and filed.