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

[Grudy0]

Playing Devils Advocate here:

500 Million for an arena and 2 Teams seems rather undervalued-and that the Atlanta would just be a "throw in"-that being the case, would that not in affect lower market value of the franchise?

A$G paid $250 million in 2004 for all three....

Right.

This of course is the big concern. This group paid $250 million seven years ago and have somehow managed to run the Thrashers and Hawks into losses over the past few years, and the Hawks now owe about $125 million to the NBA, which could be paid by the Thrashers sale.

I don't think the Hawks and arena itself could be worth $500 million.

To all that are questioning the motives of the Atlanta fans:

The entire list of events looks shady. It may turn out that this group doesn't have the financing either. At least that's what I hope...

It will not stop the move. Heck, I still believe the NHL wants ASG (not Atlanta) out of the picture. But when push came to shove, ASG held all of the cards, namely the arena rights.

 

[Brodie]

Googling a couple of names isn't sufficient "research" to make that conclusion. They could just as easily have had backing from other partners, or financed it in some other manner. We have no idea what their plan was. We barely even know who they are.

It's a bit cliche... but Occam's razor this. What's more likely? A billionaire taking on a religious blogger as a partner or yet another group of people with no money pretending to buy a sports team?

 

[tarheelhockey]

Maybe it was a credible offer and maybe it wasn't. I don't see how anybody legally could stop the TNSE. deal. Bottom line ASG doesn't have to take any offer, they can pick whichever they like. The perception may look bad but it doesn't appear to be illegal.

Nobody would call the purchase agreement illegal. The Board of Governors still has to approve the franchise relocation with a vote, which is largely based on whether there is a viable way to keep the franchise alive in its current market. Clearly, if this offer was credible, it would have given them that opportunity.

Of course the BOG could still approve the relocation despite all of this, if they so choose. At this point it's more about knowing the real story, and revealing any corruption that may have existed in the process (particularly from ASG's end).

 

[LickTheEnvelope]

There's not nearly enough information on the bid to tell what was happening, but the article barely even mentions the Thrashers which leads me to believe no one was really interested.

 

[tarheelhockey]

It's a bit cliche... but Occam's razor this. What's more likely? A billionaire taking on a religious blogger as a partner or yet another group of people with no money pretending to buy a sports team?

You're saying the guy is a "religious blogger" as if he never held another job. Apparently he also owns an "International Financial Asset Management/Business Development Firm", was a sports agent, and owns a record label. I don't know much beyond that, but clearly he isn't just a pastor with a blog.

The other partner was in financial consulting. Could he have connections with a billionaire? Possibly. Who knows? This stuff was never aired to the public until today.

I simply want an explanation. If this is a case of "fake it till you make it", it shouldn't be too much trouble for Bettman to say so.

 

[Fish on The Sand]

Or they aren't legitimate. The one guy is a pastor with a blog while the other lost properties to a tax sale. A little Googling goes a long ways. These guys aren't legitimate, period. They don't have the financials to make any type of bid unless they have secretly acquired all of this money or they have some secret partners that are loaded with money.

If what you are saying is true, it is likely the NHL knew of the bid, but dismissed it on the grounds you have mentioned.

 

[ur almost right]

For what it's worth....

Jeff Shultz tweet from 25mins ago.

Oh you're no fun RT @ZachKleinWSB: Sorry #thrashers fans..USA Today article about $500 million bid for ASG is "Totally false" according to source.

Like I said.. For what it's worth. Not sure who to believe anymore...

 

[RoyalAir]

NO ONE is legitimately saying that the BOG is going to go back on their word (through Bettman and that slimy piece of **** Daly) at this stage in the game. Everyone in Thrasherville knows that the team is gone. We know that.

What we also know, and this report further lends credence to, is that the ASG has never, not once, operated in good faith to sell the Thrashers, or any part of their holdings, locally. Carter's group had money, and was serious. They were ignored. This group may have been serious, and may have had money. Again, they were ignored. The ASG put in a phony exclusive period with Moores for the arena rights and the Hawks just so that they could further ignore a package for all three.

Winnipeg has our team. We all know that. What we also know, without a shadow of a doubt, is that the ASG is full of ****. they've been talking about pushing the Thrashers *out of town* for years; the only thing that kept them here was the lawsuit(s). The NHL is also full of it, as it's clear that Daly and Bettman are more than willing to sacrifice Atlanta over a "lack of fans" in order to save Phoenix.

I don't begrudge the NHL for wanting to wash their hands of the ASG, especially in favor of TNSE. It's just clear that this whole thing was rigged from the very beginning, and that the fans in Atlanta will never get an honest explanation from any of the parties involved. *That* is what pisses us off more than anything. We've accepted that we've lost our team. We've accepted that we've been treated like unwanted step children since the day Ted Turner merged his assets with Time Warner. What we don't accept is that no one has the balls to be honest about it all.

Atlanta will never get another chance at an NHL team. It won't happen. ASG has poisoned the well so deeply here that, ultimately, the league won't return. What is interesting is that ultimately, it's the hockey fan in general that is going to miss out the most. As a youth market, Atlanta was starting to produce legit junior and college talent (see Kaminsky, Saponari). The whole point of expansion into where the people are was to grow the game. That was clearly working. With Atlanta out, a major lynchpin in Southern youth hockey is gone.

 

[Blasto]

For what it's worth....

Jeff Shultz tweet from 25mins ago.

Oh you're no fun RT @ZachKleinWSB: Sorry #thrashers fans..USA Today article about $500 million bid for ASG is "Totally false" according to source.

Like I said.. For what it's worth. Not sure who to believe anymore...

There's already been discussion on the ATL board that this will be swept under the carpet and/or discredited as fast as possible.

ATL fans know the train has left our station, we just want the truth & the time lines as this team's whole existence has been one large fustercluck from the beginning of A$G's involvement.

 

[The Pouzar]

Much ado about nothing.

I don't see how this causes any concern for the BOG/NHL if you lokk at the timeline of events. The deal to purchase the Thrashers was agreed to ,in princible, on the 19th of May. At this time the ASG were in an exclusivity agreement period to sell the arena and the Hawks with John Moores. The fact that this group stepped forward on the 20th with this offer is not material to the sale to TNSE or the franchise's relocation to Winnipeg as the NHL had prior to this date allowed the groups to enter discussions to achieve this end. If this group was serious about purchasing the Thrashers as well as the other assets they should have made their intentions known before the ASG entered into the agreement with Moores, which paved the way for the Thrashers to be sold on their own.

 

[theIceWookie]

http://www.usatoday.com/sports/basketball/nba/2011-06-09-insider-atlanta-hawks_n.htm

Seems like alot of people have some explaining to do.

This won't effect the Thrashers relocation, just Gary Bettman's reputation.

I`m sure the NHL did its due diligence. More than likely the group buying the Hawks and other assets wanted no part of the Thrashers. I wouldn`t be surprised if the offer was dependent on the Spirit selling the Thrashers.

 

[kdb209]

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.

Sigh.

Assuming that the NHL approves the sale to TNSE later in June - pretty much a foregone conclusion - who has any legal standing to sue, let alone get an injunction to block the sale?

 

[cbcwpg]

Source: $500 M Spirit Bid 'Another Crazy Rumor'

http://www.wsbtv.com/sports/28198135/detail.html

When asked about the story, the source told Klein there is "no truth to it. Surprised USA Today printed it."

When asked if ASG planned on selling the Hawks and Philips Arena outright, Michael Gearon, ASG co-owner, told Klein on May 31. "No. I have no interest in selling my ownership."

 

[Egil]

Neither the Hawks nor Thrashers did that well at the gate. The obvious solution is to remove one of the teams from the equation (Thrashers) which increases the value of the other team (Hawks). Based on the Atlanta market, betting on the NBA over the NHL makes sense, so I am not surprised that they dumped the Thrashers.

 

[Shawa666]

There are two possibilities here:

1) The NHL was not informed of this bid, in which case ASG is not operating in good faith with the league.

2) The NHL was informed of this bid, in which case Bettman et al are not operating in good faith with their fans, particularly those in Atlanta ('nobody wants to own a team in this market').

Either way, this needs to be sufficiently explained. Otherwise, it is a game-changer in regards to the BOG vote as it speaks directly to several subsections of Rule 36.

You forgot the third possibility. There was no bid.

 

[Dado]

If the alleged $500M offer becomes $350M with the Thrashers gone, then we can guess they were serious about hockey.

Otherwise, it would just be another "oh look we have a hockey team to get rid of" situation.

Assuming the bid even exists....

 

[Grudy0]

When asked if ASG planned on selling the Hawks and Philips Arena outright, Michael Gearon, ASG co-owner, told Klein on May 31. "No. I have no interest in selling my ownership."

And no interest in keeping the NHL in Atlanta.

ASG held the cards; they destroyed one franchise to keep their interest in the other afloat.

 

[theIceWookie]

There are two possibilities here:

1) The NHL was not informed of this bid, in which case ASG is not operating in good faith with the league.

2) The NHL was informed of this bid, in which case Bettman et al are not operating in good faith with their fans, particularly those in Atlanta ('nobody wants to own a team in this market').

Either way, this needs to be sufficiently explained. Otherwise, it is a game-changer in regards to the BOG vote as it speaks directly to several subsections of Rule 36.

Your missing and obvious 3rd option. It`s more than likely that the group buying from ASG has no desire for the Thrashers and would only buy the Hawks and building if the Thrashers were not part of the deal. This the Spirit needed to get rid of them first. having them sell the Hawks before the Thrashers would have been a PR nightmare.

It's still a bid for the Thrashers, something that Bettman and ASG both have said publicly did not exist. If ASG simply "forgot to mention" this to Bettman, it violates a whole slew of bylaws regarding good-faith operations.

If ASG did mention this to Bettman and he "forgot to mention" it to the public, well...

It`s really not. There is no guarantee the bid included the Thrashers at all.

Another note is the common comment that the ASG group was mainly a basketball group. They didn't give a damn about hockey. Would they sell the arena and basketball team knowing they didn't have hockey to worry about?

Oh and this would be very damning for the NBA if you think about it.

110 Million for the Thrashers.

300 million for the arena

leaving 90 Million for the Hawks. With the NBA's current contract issues and Stern's 'not anywhere close' commentary, that makes sense.

This probably makes it all the more likely that the Thrashers were not included in the deal at all.

 

[Killion]

You're saying the guy is a "religious blogger" as if he never held another job. Apparently he also owns an "International Financial Asset Management/Business Development Firm", was a sports agent, and owns a record label. I don't know much beyond that, but clearly he isn't just a pastor with a blog.

Your referring to Bernard Woodside who was an Agent with Premier Sports (good reputation, mainly NFL & NBA players whose Chief Legal Council has the most amusing name you'll ever encounter; Gennaro Bizzarro ); is an Ordained Minister, Motivational Speaker etc & yes, owns a Record Label called Tehillah after the great Black Gospel Choir of the same name. He also has an asset management firm (global) though how much he oversee's I have no idea. Dexter Chappell, the other guy in the equation I cant find much on, however, seeing as how they made the offer on the day the exclusivity agreement ran-out with ASG & due to the dollars involved here, Id be shocked if they didnt have the scratch together to pull this off. Reputations on the line. Provided of course any of the storys true.

 

[tarheelhockey]

Your missing and obvious 3rd option. It`s more than likely that the group buying from ASG has no desire for the Thrashers and would only buy the Hawks and building if the Thrashers were not part of the deal. This the Spirit needed to get rid of them first. having them sell the Hawks before the Thrashers would have been a PR nightmare.

It`s really not. There is no guarantee the bid included the Thrashers at all.

I'm just going on the fundamental facts relayed in the article, which were that the Thrashers were included. If that turns out to be false, well, that seems like a rather pointless exercise in ruining one's relationship with a reporter.

(good reputation, mainly NFL & NBA players whose Chief Legal Council has the most amusing name you'll ever encounter; Gennaro Bizzarro )

I'm sorry, you'll have to speak to my lawyer... Gennaro Bizzarro.

^ Would be willing to sign with this firm just to say that on a regular basis.

 

[Killion]

Sigh.

Assuming that the NHL approves the sale to TNSE later in June - pretty much a foregone conclusion - who has any legal standing to sue, let alone get an injunction to block the sale?

Sigh;

1) Dexter Chappell & Bernard Woodside?.
2) A quickly assembled coalition of Thrashers fans?.
3) The City of Atlanta?.

 

[Dado]

Sigh;

1) Dexter Chappell & Bernard Woodside?.
2) A quickly assembled coalition of Thrashers fans?.
3) The City of Atlanta?.

There's gotta be a way to fold GWI into the mix.

 

[wpgallday1960]

, however, seeing as how they made the offer on the day the exclusivity agreement ran-out with ASG & due to the dollars involved here, Id be shocked if they didnt have the scratch together to pull this off. Reputations on the line. Provided of course any of the storys true.

Quite frankly Killion I'd be shocked if they DID have the loot to do this. Considering Rollins, theBalkan and probably some other pretenders sniffed around the Hawks/Thrashers, anyone can make a claim of wanting to purchase something but rarely can and don't seem to care about how it appears.

 

[Pinkfloyd]

NO ONE is legitimately saying that the BOG is going to go back on their word (through Bettman and that slimy piece of **** Daly) at this stage in the game. Everyone in Thrasherville knows that the team is gone. We know that.

What we also know, and this report further lends credence to, is that the ASG has never, not once, operated in good faith to sell the Thrashers, or any part of their holdings, locally. Carter's group had money, and was serious. They were ignored. This group may have been serious, and may have had money. Again, they were ignored. The ASG put in a phony exclusive period with Moores for the arena rights and the Hawks just so that they could further ignore a package for all three.

Winnipeg has our team. We all know that. What we also know, without a shadow of a doubt, is that the ASG is full of ****. they've been talking about pushing the Thrashers *out of town* for years; the only thing that kept them here was the lawsuit(s). The NHL is also full of it, as it's clear that Daly and Bettman are more than willing to sacrifice Atlanta over a "lack of fans" in order to save Phoenix.

I don't begrudge the NHL for wanting to wash their hands of the ASG, especially in favor of TNSE. It's just clear that this whole thing was rigged from the very beginning, and that the fans in Atlanta will never get an honest explanation from any of the parties involved. *That* is what pisses us off more than anything. We've accepted that we've lost our team. We've accepted that we've been treated like unwanted step children since the day Ted Turner merged his assets with Time Warner. What we don't accept is that no one has the balls to be honest about it all.

Atlanta will never get another chance at an NHL team. It won't happen. ASG has poisoned the well so deeply here that, ultimately, the league won't return. What is interesting is that ultimately, it's the hockey fan in general that is going to miss out the most. As a youth market, Atlanta was starting to produce legit junior and college talent (see Kaminsky, Saponari). The whole point of expansion into where the people are was to grow the game. That was clearly working. With Atlanta out, a major lynchpin in Southern youth hockey is gone.

I think the NHL wanted out of Atlanta because of ASG. If there ends up being a group there that wants to bring hockey back and will have either an arena on their own or a lease at Philips where ASG is not involved, they will likely want a team there. Originally, with Ted Turner, I think they loved the idea of Atlanta but it didn't work out when Turner/TW sold it to ASG. And I don't think it's a coincidence that this is the first off-season outside the seven year window that is pretty common in purchase agreements involving the NHL.

It may take another 17 years like it did before but I think the NHL will be back in Atlanta eventually.

 

[Sunshine36616]

Tarheel: Who is Gary's boss? The BOG wanted Atlanta out, no doubt to get a other team into the East, appease their Canadian fanbase, take advantage of the strong Canadian dollar, and get some hard cash to thrown in the money pit in Glendale.

Don't think for one second this will prevent the relocation of the Thrashers, just mildly sully a few people's reputations.

I don't know about all that, but I definitely agree with those saying that the league and Bettman wanted to be done with that cluster fruck that is the ASG. Can't blame them on that one.

Do not forget that there is $125 million of debt on the Hawks. The bid is not low.

And no one thinks this will keep the Thrashers here. That ship has sailed. We deserve to be told the truth though.

I agree 100% Our team is gone I do think we deserve the truth about any offers that might have been made.