Management Eugene Melnyk - Lawsuits, rants and more... Part Deux

[Spartachat]

The only similarities I see between Melnyk and Bieber is that both of their fanbases are made up of young attractive females.

 

[Larionov]

Paul Anka almost owned a piece of the Senators....

Yeah, I remember the whole Paul Anka thing. At the end of the day, no one thinks that Anka was actually serious - he toyed with the idea, enjoyed the attention it got him, but then decided that he really wasn't too interested in losing money in pro sports. Like a lot of stars, Anka also has a reputation for being, let's just say, a little difficult at times.

Owning a sports franchise is either a) a vanity play for the ultra rich or b) part of a larger empire, with the sports franchise as an attention grabber but ultimately a loss leader. (Rogers doesn't actually make any money from owning the Jays, for instance, but the Jays provide a ton of content and profile for their lucrative broadcasting and cable business.) This is why Melnyk is in such a tough spot - the Sens and the CTC are basically all he has left, so he is asset rich but cash poor...

 

[danielpalfredsson]

Yeah, I remember the whole Paul Anka thing. At the end of the day, no one thinks that Anka was actually serious - he toyed with the idea, enjoyed the attention it got him, but then decided that he really wasn't too interested in losing money in pro sports. Like a lot of stars, Anka also has a reputation for being, let's just say, a little difficult at times.

Owning a sports franchise is either a) a vanity play for the ultra rich or b) part of a larger empire, with the sports franchise as an attention grabber but ultimately a loss leader. (Rogers doesn't actually make any money from owning the Jays, for instance, but the Jays provide a ton of content and profile for their lucrative broadcasting and cable business.) This is why Melnyk is in such a tough spot - the Sens and the CTC are basically all he has left, so he is asset rich but cash poor...

There are probably parallels between Bieber and Anka. If I recall, the Anka deal was built around Anka having connections to people with money. I think the deal was that if he raised financing, he would get a piece of the team for nothing.

As others have pointed out, Bieber doesn't have the networth necessary to purchase an NHL team. He does have the networth to possibly buy a majority share, and he probably has assets and leverage required to service Melnyk's debt that he would take on. Lastly, I'd imagine like Anka was supposed to have, Bieber has connections to people with money, and could raise a few hundred million, or could be a small part, and the frontman, of an ownership group.

 

[coladin]

Ok? So, he definitely doesn't have the bankroll for it.

Has the cashflow , though, as part of a group of owners

 

[SensHulk]

Isn’t the problem already that no one takes the sens management seriously? You don’t solve that with Bieber as the owner. If you’re going to change ownership, find a more credible entity

 

[Micklebot]

Hmm, Bieber could do it in a partnership, you say?

Bieber: ~285 m
Anka: ~80 m
Matt Perry: ~80 m
Alfredsson: ~50 m

We're getting there, little by little...

Tom Cruise went to Henry Munro in 6th grade, maybe we can entice him and his ~550 mil net worth to buy in...

Would be great, Bieber and Cruise could settle any disagreements about the teams direction in the octagon, Perry could were sens jerseys in all his new shows, and Alfie could sit in the owners box eating nachos. Not sure what Anka's role in this would be though.

 

[BonHoonLayneCornell]

Anything is better than Melnyk. ANYTHING. Even the Biebs. Sign me up. He can even still wear all his Leafs gear if he likes.

 

[thinkwild]

It's more apparent than ever that pro sports ownership is for billionaires, not hundreds of millions-aires. Plus it's a private club. The other owners have to agree to let you in. Maybe Bettman will save us again by finding us another Melnyk so we can thank him again. But hopefully this time, the new real estate deals, mass public transit, and the growth of the city will give them a better chance to succeed this time.

 

[Golden_Jet]

What’s with Euge, are the Sens the first team to offer refunds

 

[GCK]

It's more apparent than ever that pro sports ownership is for billionaires, not hundreds of millions-aires. Plus it's a private club. The other owners have to agree to let you in. Maybe Bettman will save us again by finding us another Melnyk so we can thank him again. But hopefully this time, the new real estate deals, mass public transit, and the growth of the city will give them a better chance to succeed this time.

I see where this is leading. Good market vs. Bad market, ownership with deep pockets, no corporate support, joe fan already pays his fair share, blah, blah

 

[Bileur]

Hmm, Bieber could do it in a partnership, you say?

Bieber: ~285 m
Anka: ~80 m
Matt Perry: ~80 m
Alfredsson: ~50 m

We're getting there, little by little...

Tom Cruise went to Henry Munro in 6th grade, maybe we can entice him and his ~550 mil net worth to buy in...

Would be great, Bieber and Cruise could settle any disagreements about the teams direction in the octagon, Perry could were sens jerseys in all his new shows, and Alfie could sit in the owners box eating nachos. Not sure what Anka's role in this would be though.

Anka would be the anthem singer.

 

[Micklebot]

Anka would be the anthem singer.

blasphemous... Lyndon Slewidge or that girl from the Sweden games, Janic Kavander.

 

[BatherSeason]

What’s with Euge, are the Sens the first team to offer refunds

He probably has the least amount of refunds to offer.

 

[Stylizer1]

What about Tobias Lutke? Runs the most profitable company in Canada.


NHL could have direct access to Shopify.

 

[DueDiligence]

What about Tobias Lutke? Runs the most profitable company in Canada.


NHL could have direct access to Shopify.

Lutke is worth $6.2 billion US right now. But is he a hockey fan?

 

[Stylizer1]

Lutke is worth $6.2 billion US right now. But is he a hockey fan?

Who cares. Dis iz biznehs main

 

[tardigrade81]

The only similarities I see between Melnyk and Bieber is that both of their fanbases are made up of young attractive females.

Lmao truth.

 

[Masked]

Lutke is worth $6.2 billion US right now. But is he a hockey fan?

Maybe if we get Stutzle.

 

[foggyvisor]

Dude isn't even a top pairing d-man with Tampa Bay anymore. I think he's getting a bit too much credit here.

 

[Super Cake]

Justin Bieber as an owner?

 

[Sensung]

The only similarities I see between Melnyk and Bieber is that both of their fanbases are made up of young attractive females.

Well played.

 

[Tuna99]

Leblanc in Arizona basically bought the team from the NHL, increased revenues and sold it. My guess is he’s here to do the same for Eugene. No way the NHL doesn’t have a hand in this, they basically sold the coyotes to Leblanc and a team of investors - with the idea to get a new arena deal, prop up the team, and hold the fort until long term ownership could be found.

follow the money they say - Leblanc is the new ownership guy. Arizona, Halifax - what Covid did to change all this, might not be any pro sports team being sold anytime soon. Poo-jeans should go sold last year and when he had offers, he’ll never get as good an offer as he had pre Covid.

 

[IlTerrifico]

Is there anywhere we can see a list of Eug's major investments?

If his company assets have seen a big drop from covid, or maybe devalued investments will see a cash call against his loans, this could force him to sell his liquid asset team to avoid something of a partial collapse or full financial collapse.

A guy can dream....a real owner could take advantage of the cap issues of others, effectively buy talent for cash relief, and set up for a real FYOUS. Time is of the essence; we need an edge if we are going to beat 31 teams on the way to a Cup in the coming years.

 

[Rand0m]

Is there anywhere we can see a list of Eug's major investments?

If his company assets have seen a big drop from covid, or maybe devalued investments will see a cash call against his loans, this could force him to sell his liquid asset team to avoid something of a partial collapse or full financial collapse.

A guy can dream....a real owner could take advantage of the cap issues of others, effectively buy talent for cash relief, and set up for a real FYOUS. Time is of the essence; we need an edge if we are going to beat 31 teams on the way to a Cup in the coming years.

According to Wikipedia, these are his business ventures although it's hard to know what he's still really invested in:

• Ottawa Senators (NHL Team)[32]

• Canadian Tire Centre (Multi-purpose Arena and home of the Ottawa Senators)[33]

• Trimel Pharmaceuticals Corporation[34]

• Biovail Corporation (retired),[35] formerly known as Trimel Pharmaceuticals (same name as Melnyk's new pharmaceutical company) [35]

• Bert's Bar (Barbados)[36]

• Bert's Bar (Ottawa)[37]

• Providence Charitable Trust[38]

• Providence Elementary and Secondary schools[39]

• Winding Oaks Farm (Florida, USA)[40]

• Fusion Brands Inc. (Cosmetics & Fragrances)[41][42]

• Olivann (Fragrance) [43]

• PurGenesis Technologies Inc.[44][45]

• Barbados real estate [46]

 

[Stylizer1]

This franchise is less Tobias Lutke and more Tobias Funke