Group offered $500 million for Hawks/Philips Arena/Thrashers on May 20

Discussion in 'Fugu's Business of Hockey Forum' started by btn, Jun 10, 2011.

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  1. btn

    btn Gone Hollywood

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  2. King Woodballs

    King Woodballs Captain Awesome

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    wow
    just wow
    you are right btn

    lucy... you got some splainin to do
     
  3. Don't the board of governors still have to approve the sale of the Thrashers or has that already been done? This definitely could put a monkey wrench into the works.

    #EDIT# Yeah looks like the BOG meeting is not until the 21st of June so boy will this one get interesting!
     
  4. Grudy0

    Grudy0 Registered User

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    Wow.

    I guess the big question here is if ASG will sell to this group. If they do sell, then this whole scenario is a house of cards. If they don't sell, then we see exactly what the intentions of ASG are.
     
  5. Blasto

    Blasto Registered User

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    What? I thought there was no one with significant financial resources to buy the three entities nor anyone wanting to keep the team local?

    Smokescreen?
     
  6. tarheelhockey

    tarheelhockey Highest Boss

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    That should make the BOG vote VERY VERY interesting. The fans and players in Atlanta are owed an explanation here before anything moves forward.
     
  7. Buck Aki Berg

    Buck Aki Berg Done with this place

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    I honestly don't know enough about ASG to know if they are the money-grubbing money-grubbers people want to believe they are, but one can assume that selling pieces separately gets more money than selling all three pieces (Thrashers, Hawks, Philips Arena) in one shot.

    It's the same principle as your cable bill - if you get just cable, you pay $30. If you get just internet, you pay $50. If you get home phone, you pay $40. But if you get all three, you pay $100, even though they'd cost $120 individually. If ASG is just out to get the biggest payday, they're best off selling as many different pieces to as many different people as possible.
     
  8. btn

    btn Gone Hollywood

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    The owners and Waddell specifically said they would sell at a discount to any potential local owners.
     
  9. Blasto

    Blasto Registered User

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    This whole thing stinks & depending on what shakes out vetting with this 500M offer, it appears to be that the NHL is in complete collusion with A$G to get their cut no matter what it costs.
     
  10. cbcwpg

    cbcwpg Registered User

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    So instead of paying $500M for the arena, the B-ball team, and the hockey team... they will end up paying $499.99M for just the arena and B-ball team.

    Yesterday, Daly said the BoG vote to allow the transfer and sale to TNSE is a no-brainer. They are voting on this, not what's happening with ASG ( which has the right to sell thier assests as they see fit )

    Short of someone suing ASG to stop the sale of the hockey team, the vote will pass, and the asset will be sold.
     
  11. ur almost right

    ur almost right Registered User

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    While this article may infact be pretty telling, there is absolutely NO chance that this team is not playing in Wpg this fall. No lawsuits, no going back on words, no last minute resolve.

    Not only would a lawsuit take MONTHS, it would take MONTHS to get it's foot in the door. The sale of a sports team is not exactly high on the priority list to the rest of the world. Hockey fans may think different sure, but really, in the grand scheme of all things business, this is a non-issue.

    What gets people down more often then not, are all these rumours or articles etc. These do NOTHING but create a false glimmer of hope to a wanting Atlanta fan.

    The deal is done. Daly, king of "no comment" says the BOG will pass this unnanioumsly. And while easier said then done(speaking from experience), the "need to move on" "let it go", or "clean break" approach should be taken by the loyal and spurned Atlanta fans.
     
  12. Blasto

    Blasto Registered User

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    Sounds like you're telling Atlanta fans to "deal with it".
     
  13. Killion

    Killion Registered User

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    Something is definitely very wrong here. If this group was indeed willing to pay $500M for the 2 teams & the arena then we'd really need to know what ASG's valuations' are for each component. I cant imagine it would be substantially less than the app. $110M they'll receive from TNSE which then leads to some questions for the NHL with respect to the $60M relo fee; not to mention statements made by both the league & ASG leading up to, during & post sale to Winnipeg. Alternatively, its also possible that the investment group didnt want the Thrashers, so until clarification is forthcoming I think it prudent to reserve judgment no?.
     
  14. Bittco

    Bittco Registered User

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    not sure how this can be read as the "nhl has explaining to do". this offer was for the whole set- the nhl has no say over arena sales or nba team sales. no way nhl WANTED the thrashers gone
     
  15. hatterson

    hatterson Registered User

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    Any ideas what the Arena would be value at? Forbes has the Hawks at just shy of $300 million which would leave $90 million for the arena to make it an even deal.

    What the real telling mark will be is how far the bid is adjusted downwards once the Thrashers sell. If the bid is still above $390 million than ASG made more by selling it to TNSE. If it's below that then selling to TNSE actually cost ASG money.
     
  16. Jesus Christ Horburn

    Jesus Christ Horburn Registered User

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    This will not affect the NHL's BOG vote in any way.

    All it will do is raise more questions about ASG's motives and reputation.

    The ultimate decision to sell or not to sell the team (alone or as a package) was ASG's decision and responsibility, not the NHL's and/or NBA's
     
  17. Killion

    Killion Registered User

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    Ya, theres no chance the sale gets reversed, shot down or challenged unless say a group of fans decides to pool some funds, hire some pricey attorneys & slap an injunction on things (a long shot at best). But tell you what, if this is true & the group was in fact ready willing & able to buy the Thrashers, Hawks & Philips for that kind of money then what the Hell happened here?!. This is an "issue", as it strikes at the very heart of the NHL's integrity, its self proclaimed "covenant" with the fans that "it doesnt run out on cities" yadda yadda yadda. Gary Bettman, if this is true, is holding a smoking gun. In the blink of an eye the teams gone when theres a serious offer for all 3 pieces sitting on the table?. C'mon. We need some answers & clarification here. Some closure. Sadly, I doubt we'll get any, as ASG will demand non-disclosures on the sale process including the Thrashers move in selling the arena & Hawks. Never mind Forbes "franchise valuations", we need to know what ASG wants for the Hawks & the arena, what they get, what the investment group winds up paying, if one can ever reasonably expect to believe "announced" sale prices with what they really are (see Vinik; Tampa Bay).
     
    Last edited: Jun 10, 2011
  18. Gump Hasek

    Gump Hasek Spleen Merchant

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    I think that the prudent way to look at this is that the Thrashers have already been effectively sold and delivered to Winnipeg, period. If this group does eventually purchase the BBall team & the arena (and taking into consideration that will take quite some time to conclude such a sale - if it proceeds), then they are free to pursue an NHL team for Atlanta in the future if they wish as there are still numerous teams in financial flux.

    We'll eventually find out whether the bid to include the NHL team was serious as the proof will be in the pudding regarding whether or not they further pursue future discussions with the NHL.
     
  19. btn

    btn Gone Hollywood

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    When you have Bill Daly in Winnipeg saying the relocation was in the best interests of the league yesterday, and Gary Bettman repeatedly saying nobody wanted to own the team in Atlanta.

    It is hard to say that the NHL didn't want this to happen....assuming they were made aware of this offer.
     
  20. If that were the case too (that they knew of this offer), then everyone did not negotiate in good faith and there's plenty of legal grounds that can be utilized. This really can become a very nasty situation, moreso than it already is, and I wouldnt be surprised to see law suits in the next 2 weeks along with a potential injunction to prevent the sale to True North. We do have to see what more of this there is but I have a feeling that we will know more over this weekend.
     
  21. tarheelhockey

    tarheelhockey Highest Boss

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    And if they were not made aware of it, ASG certainly has some explaining to do in their own right.


    What I don't understand, is how people think this will not affect the BOG vote. The BOG is specifically tasked in the bylaws with taking this kind of thing into consideration, in addition to considering the influence of the previous ownership group on the performance of the franchise in its original location (which I think we all agree was very significant). Having a legitimate local offer on the table is a game-changer.


    If they rubber-stamp it unanimously without debate, that alone is something that the NHL would need to explain to its fans.
     
  22. Ogopogo*

    Ogopogo* Guest

    ??????

    Money rules the day. Would you sell your house for far less than its value for any reason? Talk is cheap.
     
  23. Lorenzo1000

    Lorenzo1000 Registered User

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    Interesting but perhaps ASG just decided they didn't want to sell Phillips and the Hawks? They then sold off the Thrashers because they lose money or figured the available dates were more valuable for concerts...considering the costs of running the hockey team...salaries, ice plant in the arena and other expenses that is. Or perhaps an even crazier idea is that they sold the Thrashers because they owned them and they have the autonomy to sell them if they wanted to?

    As well as Mwd just posted anyone can offer anything for a team/arena whether they have the financial clout to make the deal work and run the team/absorb any losses in the future has to be considered as well.

    Remember "The Balkan"?
     
    Last edited: Jun 10, 2011
  24. Mwd711

    Mwd711 Registered User

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    I don't consider this group to be very legitimate. Just using Google, neither company has a website. Global Wellington doesn't even show up in any search besides these articles on this prospective bid. The only thing I can find on Bernard Woodside is this http://word-alive-pastorb.blogspot.com/ I really question someone who doesn't seem to have any legitimacy outside of a blog.

    Googling Dexter Chappell gives me a tax sale of an abandoned property in Hartford and a couple of lawsuits. Just this quick Googling leaves me skeptical. They don't sound very professional or legitimate enough to be bidding $500 million on anything.
     
    Last edited: Jun 10, 2011
  25. Killion

    Killion Registered User

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    Conspiracy Theory Alert, and that one I must say is highly plausible. This is ASG after all. :squint:
     

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