Forbes: Atlanta Thrashers Will Likely Be Sold For $110 Million

[Finlandia WOAT]

^ so how do you explain gearon completely ignoring that rather important detail?

I presume that you are referring to my comment about keeping the Thrashers in Atlanta.

He didn't ignore it. It was the first thing that was quoted from him.

“We continue to have discussions with different prospective investors or buyers of the franchise,” Gearon told The Atlanta Journal-Constitution this week. “The comments I made in February generated some preliminary interest. I wish there was more. There are some people we are talking to, but nothing that is far enough along at this stage that it deserves further comment.”

 

[peter sullivan]

^ ok...thanks.

 

[Potrzebie]

I presume that you are referring to my comment about keeping the Thrashers in Atlanta.

He didn't ignore it. It was the first thing that was quoted from him.

Quote:
“We continue to have discussions with different prospective investors or buyers of the franchise,†Gearon told The Atlanta Journal-Constitution this week. “The comments I made in February generated some preliminary interest. I wish there was more. There are some people we are talking to, but nothing that is far enough along at this stage that it deserves further comment.â€

I'm not sure if Gearon saying that after 2 months the "local interest" is still so preliminary that it "doesn't deserve further comment" is any better. Especially after his comments from February about how urgently they need to divest themselves of the team.

 

[Dado]

The impression that big negotiations like this are conducted in public on a regular basis is preposterous.

Atlanta has been on the market and/or in trouble at least as long as Dallas. If there were a serious non-relo offer on the table, that information would have already leaked, just like it leaked everywhere else.

 

[dj4aces]

Atlanta has been on the market and/or in trouble at least as long as Dallas. If there were a serious non-relo offer on the table, that information would have already leaked, just like it leaked everywhere else.

Dallas has been on the market since February? Or, if you want to count "on the market" as "the day ASG settled with Belkin," December?

Remember, ASG could not sell what they did not definitively own, and until the ASG settled with Belkin, they technically could not sell.

Patience is a virtue here, guys. We're all anxious here to see this get done, one way or the other.

 

[Finlandia WOAT]

I'm not sure if Gearon saying that after 2 months the "local interest" is still so preliminary that it "doesn't deserve further comment" is any better. Especially after his comments from February about how urgently they need to divest themselves of the team.

The main source of my statement "At least we can now confirm that there is interest in keeping the team local." is not a quote from Gearon, but from Waddell.

Thrashers president Don Waddell has been dealing with prospective purchasers who are interested in keeping the team in Atlanta. He told the AJC this week that two such prospects are currently in the mix, both from out of town.

I was simply pointing out to the other poster that Gearon did not ignore the fact of ownership groups that wished to keep the team in Atlanta.

 

[Potrzebie]

Remember, ASG could not sell what they did not definitively own, and until the ASG settled with Belkin, they technically could not sell.

True, but I find it hard to believe that ASG's search for a buyer did not even begin until the lawsuit was settled. I know people in ATL see the ASG as complete and total idiots, but how realistic is that? Don't you think that in the months, and possibly years prior they would have been pounding the pavement and working the phones in an attempt to find someone (anyone?) interested in buying the team when the lawsuit was settled? Was it not revealed in December that they had been looking to sell (or otherwise "dispose of" the team) almost since they purchased it? I would be willing to bet that by the time the lawsuit settled in December they had a pretty good handle on whatever serious local interest there was/is. It would go a long way toward explaining Gearon's dire comments in February and the renegotiating of the naming rights in the event that only the Hawks remained. The "local interests" that surfaced after the February comments are only looking to pick the bones to see if there's any meat at all to be had.

 

[Potrzebie]

The main source of my statement "At least we can now confirm that there is interest in keeping the team local." is not a quote from Gearon, but from Waddell.



I was simply pointing out to the other poster that Gearon did not ignore the fact of ownership groups that wished to keep the team in Atlanta.

Thank you. I misread your post.

 

[Finlandia WOAT]

True, but I find it hard to believe that ASG's search for a buyer did not even begin until the lawsuit was settled. I know people in ATL see the ASG as complete and total idiots, but how realistic is that? Don't you think that in the months, and possibly years prior they would have been pounding the pavement and working the phones in an attempt to find someone (anyone?) interested in buying the team when the lawsuit was settled? Was it not revealed in December that they had been looking to sell (or otherwise "dispose of" the team) almost since they purchased it? I would be willing to bet that by the time the lawsuit settled in December they had a pretty good handle on whatever serious local interest there was/is. It would go a long way toward explaining Gearon's dire comments in February and the renegotiating of the naming rights in the event that only the Hawks remained. The "local interests" that surfaced after the February comments are only looking to pick the bones to see if there's any meat at all to be had.

The main hole in this theory is that during the court case, ASG was required to provide any and all information that would have helped the court determine the value of the Thrashers and the value of Belkin's majority share. Such as evidence of any due diligence that you suggest.

Because all the documents from this court where made available to the public, we know for a fact that this is not the case. No documents indicate that any serious discussions were made between ASG and a buyer.

The most (and Gearon has confirmed this) was rudimentary "kicking the tires" interest, which soon dissipated after the Brawl with Belkin (alliteration lol) began.

So when you suggest that ASG, while the court case was occurring, did anything more than kicking tires talks, then they are liable to held in contempt of court, for withholding valuable documents.

 

[peter sullivan]

^ this is why the NHL brokers deals....ASG tells the NHL they want out.....the NHL negotiates with potential buyers as the lawsuit progresses to a conclusion.....once it is complete the sale can take place...

 

[Finlandia WOAT]

^ this is why the NHL brokers deals....ASG tells the NHL they want out.....the NHL negotiates with potential buyers as the lawsuit progresses to a conclusion.....once it is complete the sale can take place...

It does not matter if the NHL brokers the deal, any and all information pertaining to the value of Belkin's share would have been reported in court.

This means that either ASG still withheld documents from the court, or the NHL has negotiated the sale of a franchise without the owners consent.

If any negotiations to sell the Thrashers past the ever popular "kicking the tires" stage happened, it would have shown up in court, because they could be used to help determine the value of Belkin's share.

This is, of course, ignoring the fact that a court case would have scarred any potential suitors away (which Gearon admitted), as well as the fact that you can not negotiate the sale of something whose value is yet to be determined.

 

[DungeonK]

^ this is why the NHL brokers deals....ASG tells the NHL they want out.....the NHL negotiates with potential buyers as the lawsuit progresses to a conclusion.....once it is complete the sale can take place...

....when...has...this....ever....happened?

 

[tarheelhockey]

This is starting to feel too much like the Phoenix situation.

 

[Gump Hasek]

That's rich. I was responding to someone's post. You felt compelled to weigh in, flame me a little bit, then when I respond to you, you accuse me of building a strawman.

MacLean is a bull *******. If you don't want to believe that, that's your prerogative. I think you'll find most of the on air talent at Rogers Sportsnet hold an opinion much like mine. For some reason, they regularly hold MacLean up for ridicule. If you didn't want to participate in the discussion, why did you choose to jump in?

I'll tell you what is rich; that you are still trying to build your Doug MacLean strawman.

Rogers Sportsnet is a television network broadcast in Canada. I suspect you don't watch it much in Ohio, given that it isn't available there. Yet you presume to speak on behalf of on air personalities of a network you can't watch. I believe you are probably confusing Rogers Sportsnet with the Fan 590 radio station, which is also owned by Rogers. Yes, MacLean did have a publicized spat with Bob McCown a year or two ago, but FYI, Bob McCown, a singular radio host mind you, does not equate to "most of the on air talent at Rogers Sportsnet", nor those at Fan 590 for that matter. McCown also refuses to speak MacLean's name now, so I'm unsure of how that equates to his regularly holding MacLean up for ridicule as you claimed, given that McCown won't even say the guy's name. If you want to participate in the discussion, try to get your facts straight.

 

[cbcwpg]

http://sports.yahoo.com/nhl/rumors/post/Thrashers-sale-finding-limited-local-interest?urn=nhl-350907

Thrashers president Don Waddell told the paper that two prospective buyers are in the mix who would like to keep the team right where it is. "I'm optimistic we have some potential buyers out there," Waddell said. "Is anything close? No. These things always take time.

This brings up an interesting point or question. From my understanding ASG has washed thier hands of this team and has said they no longer want to pay for losses. Assuming this is correct and Waddell is correct in that this process wll take time... what happens if a deal to keep the Thrashers in Atlanta is not done by June 22 ( which is when the schedule for next season has to be done ) ? If ASG is good to thier word that they will not pay for anymore losses, then who does? I know the losses aren't like the losses in Phoenix, but a reported $8M loss is still a loss. Will the NHL end up owning another team or at least cover the losses?

 

[tarheelhockey]

If ASG is good to thier word that they will not pay for anymore losses, then who does?

I kid, I kid.

 

[dj4aces]

what happens if a deal to keep the Thrashers in Atlanta is not done by June 22 ( which is when the schedule for next season has to be done ) ? If ASG is good to thier word that they will not pay for anymore losses, then who does? I know the losses aren't like the losses in Phoenix, but a reported $8M loss is still a loss. Will the NHL end up owning another team or at least cover the losses?

a. Depends on Phoenix, I guess. At least, that's all we've been hearing lately.

b. I imagine that if ASG still owns this team after 22 June (alleged date for completion of the 2011-2012 schedule), the ASG could possibly add additional losses to the sale price of the team (after all, what's an extra $8M, eh?)... or, of all entities, assuming that's the route they take.

c. I don't think the BoG will go with a plan to own the team. I do, however, believe they will apply pressure to ASG to sell to interests looking to keep the team in Atlanta.

All of this is still vague. As time progresses, we will know more. However, it's still early in the process. We'll just have to wait and see what exactly transpires.

 

[Mungman]

This is starting to feel too much like the Phoenix situation.

Ya, but the big difference is that the government doesn't have a horse in this race (see what I did there, Kentucky Derby is this weekend ), so the NHL/potential owner can't turn them over a barrel for "assistance" in purchasing or covering losses.

So, similar but completely different, and not in a good way for fans...

 

[tarheelhockey]

Ya, but the big difference is that the government doesn't have a horse in this race (see what I did there, Kentucky Derby is this weekend ), so the NHL/potential owner can't turn them over a barrel for "assistance" in purchasing or covering losses.

So, similar but completely different, and not in a good way for fans...

That's a good point. The similarity that bothers me is the "we have a local owner lined up but we can't name him, well maybe it's just someone who had a discussion about them, no wait now there's this guy from out of town who wants to keep them here, actually it's a guy from out of town who is just kicking the tires, oops it turns out the guy is a consortium from Canada, no look again it's a circus clown with a barrel of money, but wait it's a dancing unicorn that pisses golden rainbows, oh wait it's Gary Bettman and the BoG..."

on and on and on for months. Criminy.

 

[Jesus Christ Horburn]

This is starting to feel too much like the Phoenix situation.

Ever since January, the whole Atlanta situation has reminded me a lot of what would have happened in Phoenix if 1) Moyes hadn't filed for bankruptcy and 2) the NHL were unable to find a Jerry Reinsdorf willing to buy the team.

Sure, Moyes may have been approached by offers from wannabe owners such as Ice Edge ("the Balkan") and Matt Hulsizer (Tom Glavine), but not from any legitimately interested owners willing to keep the team where it was AND pay full price for it.

 

[Ripper]

|Another article

Winnipeg Free Press - PRINT EDITION
The end of Coyotes saga could be nearGlendale may vote on NHL's offer TuesdayBy: Gary Lawless
Posted: 05/5/2011 1:00 AM | Comments: 12
Print E–mail 0 0ShareNewReport Error If there is any truth to reports out of Phoenix Wednesday night, Tuesday could mark a very big day in Winnipeg's ongoing pursuit of an NHL hockey team.

Maybe things finally fall apart for certain in Phoenix and Winnipeg gets the Coyotes. Or maybe a deal closes and the Coyotes stay right where they are -- allowing the NHL to turn its attention to the Atlanta Thrashers and a potential relocation to our city.

It's well documented True North Sports and Entertainment wants to buy an NHL franchise and they made an offer on the league-owned Coyotes last spring.

Those same Coyotes remain for sale with NHL commissioner Gary Bettman repeatedly stating he'd prefer to sell to a group that would keep the team in Phoenix. Unfortunately for Mr. Bettman, only Chicago businessman Matthew Hulsizer and his light-on-cash purchase agreement has been pushed to the table. Hulsizer has struggled to a close a deal and now the NHL finds itself needing resolution in the near future in order to begin schedule planning for next season.

The end, regardless of the outcome, appears to be near.

http://www.winnipegfreepress.com/br...ga-could-be-near-121305474.html?device=mobile

 

[dj4aces]

TORONTO — The whirring sound one can hear coming out of the desert right now is Gary Bettman furiously pumping on a hamster wheel in an effort to keep the Coyotes in Phoenix.

Isn't this article a couple weeks old now? Posted in the last Atlanta thread?

 

[tarheelhockey]

But the waiting is likely to be soon over. Whispers out of the NHL’s New York offices have the clock on the deal in Phoenix about to expire — this week or next.

no wait...

 

[peter sullivan]

....when...has...this....ever....happened?

6 months ago

 

[Grudy0]

http://sports.yahoo.com/nhl/rumors/post/Thrashers-sale-finding-limited-local-interest?urn=nhl-350907

Thrashers president Don Waddell told the paper that two prospective buyers are in the mix who would like to keep the team right where it is. "I'm optimistic we have some potential buyers out there," Waddell said. "Is anything close? No. These things always take time.

This brings up an interesting point or question. From my understanding ASG has washed thier hands of this team and has said they no longer want to pay for losses. Assuming this is correct and Waddell is correct in that this process wll take time... what happens if a deal to keep the Thrashers in Atlanta is not done by June 22 ( which is when the schedule for next season has to be done ) ? If ASG is good to thier word that they will not pay for anymore losses, then who does? I know the losses aren't like the losses in Phoenix, but a reported $8M loss is still a loss. Will the NHL end up owning another team or at least cover the losses?

I don't believe ASG has, "washed their hands of this team and has said they no longer want to pay for losses."

Heck, from one of the other articles, Gearon is mentioning becoming a minority investor.

People saw the smoke when Gearon mentioned selling the team back in Feburary, but it wasn't because Atlanta was burning. It was more like smoke signals, to draw attention to the team. Too many people are wrapped up in believing there's a full on fire-sale.

The Thrashers are staying in Atlanta next year. All bets are off once the Coyotes sale is completed or a ton more "issues" within ASG.