How about organising a #MelnykOUT rally?

[YouGotAStuGoing]

But the fair-weather fans that have declared they will not spend a dime on anything EM related, and therefore will not attend any events at a Lebreton Flats arena owned by EM.

You're correct. But that's not a Lebreton problem – that's a Melnyk problem.

 

[Tnuoc Alucard]

EM is not going to be there when the Lebreton arena opens.

You do know that EM is heading the RLG that is currently negotiating with the NCC and the City (at some point), working out the details, and targeting shovels in the ground in about 6 months, right?

EM and his RLG has been engaged in this Lebreton Flats re-development process for almost 4 years now, and is not showing any signs on giving up on a deal that is sure to be very lucrative for him, and his partners in the RLG, for the next two decades. Why would you think that he will abandon this venture, and all the profits he and his partners would be in line for?

When you've invested so much time and money since the beginning, there is logical reason for he and his partners to jump ship at this point.

 

[Gil Gunderson]

You do know that EM is heading the RLG that is currently negotiating with the NCC and the City (at some point), working out the details, and targeting shovels in the ground in about 6 months, right?

EM and his RLG has been engaged in this Lebreton Flats re-development process for almost 4 years now, and is not showing any signs on giving up on a deal that is sure to be very lucrative for him, and his partners in the RLG, for the next two decades. Why would you think that he will abandon this venture, and all the profits he and his partners would be in line for?

When you've invested so much time and money since the beginning, there is logical reason for he and his partners to jump ship at this point.

I don’t see him surviving if he continues to operate the team this way. It’s not sustainable, especially after Karlsson gets traded.

That arena isn’t going to be finished for years.

 

[Tnuoc Alucard]

You're correct. But that's not a Lebreton problem – that's a Melnyk problem.

Well I will put it to you, that there are going to be way more paying fans, that will attend events at a Lebreton Flats arena, that will more than offset the "won't spend a dime" segment of fair weather fans, that will stick to their word, and will boycott an EM arena in Lebreton Flats.

 

[Tnuoc Alucard]

I don’t see him surviving if he continues to operate the team this way. It’s not sustainable, especially after Karlsson gets traded.

That arena isn’t going to be finished for years.

The Little Caesars arena in Detroit took just over 28 months to build, so using that as a baseline, yeah, it could take 2 1/2 to 3 years to construct a new arena at Lebreton Flats ...... but the Senators will still be operating until they move to their new arena, and from everything we know, EM will still be the owner, whether you like it or not.

EM is not losing money in Kanata operating the CTC and the Senators, and with Lebreton Flats becoming more of a reality each day, I don't see any reason to think he'll bail on his RLG partners at this time.

 

[Engineer]

ok

 

[Gil Gunderson]

The Little Caesars arena in Detroit took just over 28 months to build, so using that as a baseline, yeah, it could take 2 1/2 to 3 years to construct a new arena at Lebreton Flats ...... but the Senators will still be operating until they move to their new arena, and from everything we know, EM will still be the owner, whether you like it or not.

EM is not losing money in Kanata operating the CTC and the Senators, and with Lebreton Flats becoming more of a reality each day, I don't see any reason to think he'll bail on his RLG partners at this time.

Oh he isn’t?

 

[Tnuoc Alucard]

Wait, wtf.

You've been demanding sources for months (years?) to prove that he does make profit with the Sens as you constantly argue he doesn't, now that it's beneficial to you, you claim the opposite?

Holy **** you're special.

please read the post again.

EM owns BOTH the CTC and the Senators franchise. They're operated separately, not jointly.

 

[Engineer]

ok

 

[Tnuoc Alucard]

Which is what everyone has told you every time you'd argue otherwise, and you would conveniently ignore. Lmao, you're a piece of work.

Again, I'll explain it again.

There is ample proof that the Senators have cost EM money to keep them operational.

Sens owner Melnyk claims $94 million in losses

Under Eugene Melnyk, Senators have lost $94 million


So whenever I've pointed out that the "Senators" have lost money, I mean only the franchise, not the combination of the CTC & the franchise.

It' not that hard to understand.

 

[harrisb]

Just dropping this little tidbit here about how NHL teams lose money: NHL Lockout: Why do billionaires keep buying teams that lose money? (Updated)

 

[Engineer]

ok

 

[YouGotAStuGoing]

Again, I'll explain it again.

There is ample proof that the Senators have cost EM money to keep them operational.

Sens owner Melnyk claims $94 million in losses

Under Eugene Melnyk, Senators have lost $94 million


So whenever I've pointed out that the "Senators" have lost money, I mean only the franchise, not the combination of the CTC & the franchise.

It' not that hard to understand.

You're hiding behind a technicality and you damn well know it.

 

[Nac Mac Feegle]

It's been obvious for awhile that he is just a troll account. Seems a couple of those burner accounts have been slipping lately.

 

[coladin]

I don’t see him surviving if he continues to operate the team this way. It’s not sustainable, especially after Karlsson gets traded.

That arena isn’t going to be finished for years.

I don't even think it is going to happen. The only way he loses the team is he backs out of Lebreton. The NCC will go with the other bid, which I preferred anyways, and the new arena will be built. The new arena will get all the concerts and shows, and Melnyk gets Monster trucks. Once they clip him from arena revenues he is going to be screwed.

So as I type, I think I will revisit my argument: even though Lebreton is a financially bad idea, he has no choice but to try and get it done, even though it will not be as financially beneficial as once thought. He has to do it to keep Laliberte and gang from building that arena.

 

[coladin]

The Little Caesars arena in Detroit took just over 28 months to build, so using that as a baseline, yeah, it could take 2 1/2 to 3 years to construct a new arena at Lebreton Flats ...... but the Senators will still be operating until they move to their new arena, and from everything we know, EM will still be the owner, whether you like it or not.

EM is not losing money in Kanata operating the CTC and the Senators, and with Lebreton Flats becoming more of a reality each day, I don't see any reason to think he'll bail on his RLG partners at this time.

And how long do you think the soil cleanup will take? There is no way that the arena is built as quickly. Maybe if the site of the arena isn't as dirty, but highly doubt it.

He is losing money operating the CTC and the Senators. Why is he borrowing more money?

 

[Tnuoc Alucard]

You're hiding behind a technicality and you damn well know it.

Look, when there's Monster Truck Show at the CTC, the revenues earned from that show go on the CTC's books, not the Senators books. Yes EM could choose to take money earned from other events at the CTC and invest in the hockey operations of the Senators ....... or, as he would has us believe, he wants the Senators franchise to earn enough profit on it's own to sustain itself without any injections of money from any other business operations he owns or controls, and this would include events held at the CTC, such as concerts.

There is no hiding being done here, EM has made it clear that is what he's been doing for a while now, and has publicly stated as much, numerous times. His sugar daddying days of the Senators are done.

It could be argued that he is doing this (crying poor), in an attempt to secure some public money to help facilitate the proposed move to Lebreton Flats, in some form or another. He's already gotten a deal that will deduct the cost of soil mitigation at Lebreton Flats, from the fair market value of the land.

 

[Tnuoc Alucard]

And how long do you think the soil cleanup will take? There is no way that the arena is built as quickly. Maybe if the site of the arena isn't as dirty, but highly doubt it.

He is losing money operating the CTC and the Senators. Why is he borrowing more money?

The soil mitigation is the wild card, and I seem to remember that it won't all be done at once, but as they move along the process of re-development...... beginning with the arena. So that's why I suggested it could take 2 1/2 to 3 years to do both the soil mitigation and build the arena.


He is borrowing money only for the Senator's franchise ....... which is run separately from the CTC, which is run and operated separately ...... the Sens pay "rent" to play/practice at the CTC.

The CTC makes money every time there an event held there.

Combined, the two separately run businesses (CTC & the NHL Franchise) and Melnyk is turning a profit.

 

[mysens]

Soil remediation will take a long time. Anywhere from 6 to 10 months just for that. I have been through this a few times in our line of business. You never truly know what you are digging up and how far this could go down. It is not as easy and simple. It's s very tedious process, hence the massive cost associated with it.

 

[coladin]

The soil mitigation is the wild card, and I seem to remember that it won't all be done at once, but as they move along the process of re-development...... beginning with the arena. So that's why I suggested it could take 2 1/2 to 3 years to do both the soil mitigation and build the arena.


He is borrowing money only for the Senator's franchise ....... which is run separately from the CTC, which is run and operated separately ...... the Sens pay "rent" to play/practice at the CTC.

The CTC makes money every time there an event held there.

Combined, the two separately run businesses (CTC & the NHL Franchise) and Melnyk is turning a profit.

Sorry, but Melnyk is borrowing money. He wouldn't borrow money if he didn't need it. He just borrowed an extra 35M , why? Why pay that off if he has the money from CTC revenues?

 

[Tnuoc Alucard]

Sorry, but Melnyk is borrowing money. He wouldn't borrow money if he didn't need it. He just borrowed an extra 35M , why? Why pay that off if he has the money from CTC revenues?

From the NHL

June 27th, 2018
OTTAWA - Capital Sports Holdings Inc., the parent company of the Ottawa Senators Hockey Club (@Senators), today announced that it has completed a $135 Million financing of a six-year senior term debt with a syndicate of financial institutions.
The use of proceeds is to pursue growth, serve general corporate purposes and to replace existing debt.


The term was up, and a new term has been negotiated and signed. Business as usual.

 

[Upgrayedd]

It's an anti rally, it started last season and picked up steam come renewal time and will explode this coming year especially once our captain is traded for pennies on the dollar!

 

[coladin]

From the NHL

June 27th, 2018
OTTAWA - Capital Sports Holdings Inc., the parent company of the Ottawa Senators Hockey Club (@Senators), today announced that it has completed a $135 Million financing of a six-year senior term debt with a syndicate of financial institutions.
The use of proceeds is to pursue growth, serve general corporate purposes and to replace existing debt.


The term was up, and a new term has been negotiated and signed. Business as usual.

N0, there was a further report from Colin Cudmore that states this financing is on top of another 100M borrowed from the NHL. It also stated that the financing was 100M and the other 35M is targeted for other costs. Like losses and such.

Business as usual alright. A sinkhole of losses is business as usual for this team

 

[Fandlauer]

 

[AchtzehnBaby]

The geek ripped off my “welcome to your Karlsson years”.

I am calling my lawyers