Eugene Melnyk refinances the Sens

[Goodbahd]

Quite embarrassing whichever way you look at it...

Fans should force him to sell.

 

[Scott Stevens]

Was also posted on the Business of Hockey forum but I figure this topic is also appropriate in here, given the uncertainty of the Senators and their financial instability.

I wonder if they'll eventually move. To Quebec perhaps?

That investigation he launched into Matt Cooke injuring Erik Karlsson must have cost him a lot of money.

Do you think that f***ing mental patient Cooke wasn’t trying to hurt him?

 

[Jarey Curry]

Eugene "I'm not going to blow a lifetime of working hard on a hockey team" Melnyk

Melnyk says hockey team like its a bad, lesser thing of interest.

 

[Jumptheshark]

Hope they move to Quebec

there is an outside chance

 

[Gil Gunderson]

I’m hoping it went public to drive up the price for potential buyers and he’s shopping the team...

 

[Hulkacaniac]

People crying Quebec or some other relocation are silly. The franchise isn't bleeding money, the owner is. He doesn't have the assets to pay for relocating if he wanted to. It's a hollow threat to the city and fans. There would be people lining up to buy and keep the team in Ottawa. Get a proper owner and you don't see these issues. Melnyk can't keep squeezing every ounce of cash out of this team, it's unsustainable and will ruin him.

 

[Inkling]

Interesting given that he bought the team and arena out of bankruptcy for a total of $130-150 million in 2003. That's 15 years ago. Instead of worrying about high interest loans, maybe he should try reducing debt. Buying stuff out of bankruptcy protection usually means you're getting a good deal.

 

[SI90]

Eugene "I'm not going to blow a lifetime of working hard on a hockey team" Melnyk

The minute he said that the board of Governors should have stepped in and forced him out. This man is a disgrace as an owner and the fans in Ottawa deserve so much better.

 

[HarrisonFord]

It would be an issue if there weren’t suitors with means willing to keep the team in Ottawa.

It’s only a matter of time at this point.

I think the only way it happens is if he gets an offer that is reflective of projections rather than current value (which is at an all time low). Aka reflects a full season ticket membership, 41 sold out games, and moved into Lebreton

 

[Eisen]

Eugene "I'm not going to blow a lifetime of working hard on a hockey team" Melnyk

The hard work of sitting on a chair of a company producing generic medication.

 

[NyQuil]

I think the only way it happens is if he gets an offer that is reflective of projections rather than current value (which is at an all time low). Aka reflects a full season ticket membership, 41 sold out games, and moved into Lebreton

Agreed.

This is why I think he needs that arena to inflate the value sufficiently for him to sell.

 

[Jacob]

Eugene "I'm not going to blow a lifetime of working hard on a hockey team" Melnyk

I would.

 

[LamorielloAndSon]

Move them to Albuquerque, 30th most populated city in the US and Colorado and vegas both prove that hockey works in the south west

 

[Static]

 

[harrisb]

Move them to Albuquerque, 30th most populated city in the US and Colorado and vegas both prove that hockey works in the south west

Both markets that were handed Stanley cup winning franchises. One won the cup in year 1, the other made the cup finals.....

 

[topshelf15]

Of course he is selling,our fans have put up billboards tell him to GTFO.....lol...The problem has never been the market,its been the ownership ...

 

[Jag68Sid87]

While I do agree that the owner and the arena location are pretty much all of Ottawa's problems, maybe the solution is to relocate to Quebec City and get an expansion franchise for Ottawa when the new ownership group is ready and the new Ottawa arena is built. Sorta, kinda like the Cleveland Browns/Baltimore Ravens situation in the NFL.

I think the NHL needs both Ottawa and Quebec City in the league.

 

[WingsMJN2965]

Melnyk would sell before paying a relocation fee.

 

[harrisb]

While I do agree that the owner and the arena location are pretty much all of Ottawa's problems, maybe the solution is to relocate to Quebec City and get an expansion franchise for Ottawa when the new ownership group is ready and the new Ottawa arena is built. Sorta, kinda like the Cleveland Browns/Baltimore Ravens situation in the NFL.

I think the NHL needs both Ottawa and Quebec City in the league.

Quebec city has lower population, smaller corporate support and another problem that Ottawa has, that is the predominant employer is government who can't receive free tickets from corporations. Melnyk is holding on by a thread because of the arena, concessions, parking, local sensplex arenas and land that he acquired during the purchase. All of these go away in QC which makes is a far less viable market. Not to mention Melnyk would have to come up with 100m to relocate and given the above I don't see how you could build a business case around that.

Ottawa's issue has always been debt load from the very beginning, founders bought the team and built the rink with debt, Melnyk bought it from bankruptcy with debt and continues to pile on.

 

[topshelf15]

Quebec city has lower population, smaller corporate support and another problem that Ottawa has, that is the predominant employer is government who can't receive free tickets from corporations. Melnyk is holding on by a thread because of the arena, concessions, parking, local sensplex arenas and land that he acquired during the purchase. All of these go away in QC which makes is a far less viable market.

Ottawa's issue has always been debt load from the very beginning, founders bought the team and built the rink with debt, Melnyk bought it from bankruptcy with debt and continues to pile on.

Meh this is wrong ....Ottawa will not be relocating period,so please stop .....

 

[Hulkacaniac]

The hard work of sitting on a chair of a company producing generic medication.

Clearly you're just jealous that this man's hard work paid off! Maybe you should get your millennial butt off the couch and follow this man's example, selling stuff other people discovered, shady business practices, and stashing money in Barbados to avoid taxes. This guy's a model businessman being demonized for his success!

 

[branch]

They're def not moving. Anyone who thinks they are just listens to the classic HF conjecture and is unable to form their own opinions. There are multiple mechanisms in place keeping them from moving. Think for yourselves people.

 

[harrisb]

Meh this is wrong ....Ottawa will not be relocating period,so please stop .....

Please enlighten us

 

[topshelf15]

Please enlighten us

Why would the league,move a team that has makes money???Has a huge arena deal on the table,and has been put to bed.. As far leaving by Bettman publically ...Still be moving according to you???

Its not the first time I have seen you wanting to continue push the negative ,when it concerns our team ..So do us a favor and just stop talking ...You are speaking on a personal bias and nothing more

 

[harrisb]

Why would the league,move a team that has makes money???Has a huge arena deal on the table,and has been put to bed.. As far leaving by Bettman publically ...Still be moving according to you???

Its not the first time I have seen you wanting to continue push the negative ,when it concerns our team ..So do us a favor and just stop talking ...You are speaking on a personal bias and nothing more

Read my post that you replied to....I have always said we aren't moving so you're either confused, can't read, or??? My entire post was saying how moving makes zero sense.

On the bolded you are just FoS