Leafs, Raptors, FC up for sale (UPD: reports - OTPP have withdrawn sale offer)

[htpwn]

Sportsnet's Michael Grange reports that a second group may have expressed interest.

But Providence isn't the only potential buyer testing the waters.

A second possibility has emerged in the form of a small consortium of three wealthy individuals with strong ties to the Greater Toronto Area, according to one source.

http://www.sportsnet.ca/hockey/2011/11/16/grange_occupy/

If this is true, I would have to think that Alex Shnaider is one of the three, given that he expressed interest in 2008.

 

[Mungman]

That's a pretty clever avy.

Most of the mods on this site are terrified of this board. Not sure why.

No one likes the fact checkers in life.... it's like being an accountant in real life.

 

[Killion]

Theres' more in todays Globe&Mail pursuant to the MLSE sale, an un-named source in the banking industry pretty much shooting down the likelihood of Providence (or any other private equity firm for that matter) getting near to a closing, citing first & foremost the artificial "ego premium" the Teachers Pension Fund has placed on their 80% stake, and uses Towerbrook in St.Louis as an example of what could happen, whereby they bought in at a premium and are absolutely going to take a hit through any pending sale be it to Hulsizer or Stillman. Then theres the economy...

The article goes on to speculate that the type of owner who might be inclined to pay an ego premium would likely be an individual or group of individuals, be they local or foreign. Apparently Russian interests may be precluded from being potential owners as Putin has let it be known that his government would not look kindly on anyone investing in the NHL, suggesting instead that they should be investing in the KHL if they feel so inclined to own a professional hockey team, and you dont mess with Vlad the Impaler if you know whats good for you.

Finally, theres the matter of Larry Tennebaums 20% stake. Though he refuses to comment, apparently those familiar with his position on the matter suggest, as he has first right of refusal to match any offer, that yes, he would indeed attempt to do so, which could ultimately wind up hyper-inflating the sale price even further.

This could get very messy.

 

[Melrose Munch]

Killion they are asking too much. No one wants to spend that kind of money in a recession.

 

[Killion]

Killion they are asking too much. No one wants to spend that kind of money in a recession.

Yes I agree. Recession or no recession actually.
And they dont seem to care, in no hurry to complete a transaction.
Either pay our price or go away.
Typical.

 

[LadyStanley]

http://www.sportsnet.ca/hockey/2011/11/17/gretzky_mlse/

Multiple groups have approached Getzky about being involved in their purchase of MLSE.

 

[Ryan34222]

http://www.sportsnet.ca/hockey/2011/11/17/gretzky_mlse/

Multiple groups have approached Getzky about being involved in their purchase of MLSE.

this here is FANTASTIC news for us Hamiltonians...its probably ok news for Torontonians aswell but really, no one cares about their feelings..

 

[htpwn]

this here is FANTASTIC news for us Hamiltonians...its probably ok news for Torontonians aswell but really, no one cares about their feelings..

Maybe, maybe not.

Gretzky doesn't have the money to buy the team himself and those who don't put the money, very often don't have much of a say.

 

[FakeKidPoker*]

Why would that be good news for Hamilton?

Anyways was owning the Coyotes a profitable investment for Gretzky? I know he made a ton coaching but did that offset the loses he had for paying players salarys and what not?

 

[Ryan34222]

Maybe, maybe not.

Gretzky doesn't have the money to buy the team himself and those who don't put the money, very often don't have much of a say.

well bahumbug to you to sir!

if does accept i think he help Hamilton any way he can..
still pullin for Rogers to buy though..

 

[Ryan34222]

Why would that be good news for Hamilton?

Anyways was owning the Coyotes a profitable investment for Gretzky? I know he made a ton coaching but did that offset the loses he had for paying players salarys and what not?

he was for Hamilton getting a team, if he can get some say with the potential new owners of MLSE he'd help Hamilton fo sho..

 

[Killion]

Why would that be good news for Hamilton?... Anyways was owning the Coyotes a profitable investment for Gretzky? I know he made a ton coaching but did that offset the loses he had for paying players salarys and what not?

Gretzky's from Brantford just down the road from Hamilton & has spoken out favorably on the issue. If he was installed as some sort of a figurehead with a new ownership group in Toronto, its not unreasonable to speculate (Ryan, above) that he might well press them to open up, give up the fight and look positively on an expansion or relo'd team to the Hammer... Wayne didnt have any of his own money sunk into the Coyotes & in fact was forced to defer his salary for some time prior to former owner Jerry Moyes declaring bankruptcy. He is still owed app. $8M.

Bottom-line here, Im not really quite sure what to make of this development. Do prospective buyers somehow feel they need to legitimize themselves by involving & including #99 in their bid or what?. Why?. He never played for the Leafs. He's arguably the greatest player ever but so what?. Why would he leave LA for Toronto & what role could he possibly play that a dozen other former Leaf greats couldnt?. This reminds me of the John Candy, Bruce McNall-Wayne Gretzky triumvirate and their short lived Argo's ownership escapade. Peculiar. Are they thinking he'd make a fantastic Coach/GM & havent got a clue about his record & history in Arizona?. I just dont understand this....

 

[Hamilton Tigers]

this here is FANTASTIC news for us Hamiltonians...its probably ok news for Torontonians aswell but really, no one cares about their feelings..

That was my first reaction too!

http://www.youtube.com/watch?v=wS9BwliAJus

"I don't think there's any question that Hamilton or Kitchener or that area, that region, could definitely support a National Hockey League team," said Gretzky. "It's one of those things where there's so much red tape ...

"Down the road, I can possibly see a team in Hamilton or Kitchener being part of the National Hockey League. ... These kind of things have a way of working themselves out."

http://www.sportsnet.ca/hockey/2008/09/12/hamilton_gretzky/

http://www.bringthenhltohamilton.com/bring_the_nhl.html

 

[Ryan34222]

That was my first reaction too!

http://www.youtube.com/watch?v=wS9BwliAJus



http://www.sportsnet.ca/hockey/2008/09/12/hamilton_gretzky/

http://www.bringthenhltohamilton.com/bring_the_nhl.html

lol at the last video.. "first of all you should change that Jersey" lmao

side bar; he's lived down south far to long.. its a sweater Wayne!

 

[Lilou]

A team in hamilton? Haha hopefully the nhl never see's the light of day in that dump.

 

[htpwn]

And the bubble bursts for those in Hamilton...

This ties in with what Wayne Gretzky said in response to another report that Providence and other U.S.-based groups asked if the hockey legend would be interested in being the front man for a potential bid. Gretzky, through a spokesman, said the enquiries were made months ago, and nothing came of them.

Also, Providence Equity seems to have backed out:

A source in the banking industry said Providence peered in, but no longer has an interest in making a bid on the parent company of the NHL’s Toronto Maple Leafs, NBA’s Toronto Raptors, AHL’s Toronto Marlies and Toronto FC of the MLS.

http://www.theglobeandmail.com/spor... RSS/Atom&utm_source=Home&utm_content=2242272

 

[Killion]

Providence Equity seems to have backed out.

Not surprising. At $1.8B Morgan Stanleys' going to have to find someone (or a group) willing to pay the ego-premium. At that price its' simply not an attractive investment for the usually rational & relatively conservative private equity firms with the actual wherewithal to even pay it in the first place if they ever felt so inclined, which they dont. Next?.

 

[Melrose Munch]

The people in this city (Hamilton) will be very disappointed when the next ontario team ends up in Kitchener or Cambridge.

 

[saskganesh]

Not surprising. At $1.8B Morgan Stanleys' going to have to find someone (or a group) willing to pay the ego-premium. At that price its' simply not an attractive investment for the usually rational & relatively conservative private equity firms with the actual wherewithal to even pay it in the first place if they ever felt so inclined, which they dont. Next?.

Nice piece in the Star today about where new value could be found: a Leaf-driven regional sports network:

http://www.thestar.com/sports/leafs...hind-investment-firm-eyeing-maple-leaf-sports

Investment bankers and analysts tell the Star that Nelson is probably interested in buying the Ontario Teachers Pension Plan’s 80 per cent interest in Maple Leaf Sports to develop a Southern Ontario-based regional sports network.

Although there would be hurdles, including winning a broadcast licence from Canadian regulators, such a network could become immensely profitable.

 

[Killion]

Nice piece in the Star today about where new value could be found: a Leaf-driven regional sports network.

Interesting. Thanks for the link... So Providence is still in the running or are we to take yesterdays G&M article at face-value reporting they'd dropped out?. Secondly, I believe the CRTC has rules that are pretty strict with respect to non-domestic ownership of both public & specialty cable broadcasters in awarding licenses. I suppose their could be a way found around that however it would certainly raise the ire' of a number of media applicants who have been rejected as a result of it if LeafsTV was granted a special dispensation with foreign based ownership.

 

[MaskedSonja]

Not surprising. At $1.8B Morgan Stanleys' going to have to find someone (or a group) willing to pay the ego-premium. At that price its' simply not an attractive investment for the usually rational & relatively conservative private equity firms with the actual wherewithal to even pay it in the first place if they ever felt so inclined, which they dont. Next?.

Yea, the impression I am getting as this story goes along is that these groups are taking a peek and saying "Um, over 1 billion? Um, no thank you, that's a bit too rich for our blood" As you say "next?"

 

[FakeKidPoker*]

Nice piece in the Star today about where new value could be found: a Leaf-driven regional sports network:

http://www.thestar.com/sports/leafs...hind-investment-firm-eyeing-maple-leaf-sports

Don't they already have LeafsTV?..just combine that with the Raptors TV they got.

Any idea on what Gretzky's networth is? he was gone from the game before salarys really exploded but I figure he has to be worth A hundred million at least.

 

[Melrose Munch]

Don't they already have LeafsTV?..just combine that with the Raptors TV they got.

Any idea on what Gretzky's networth is? he was gone from the game before salarys really exploded but I figure he has to be worth A hundred million at least.

200 million us.

 

[htpwn]

Providence Equity's main stumbling block was that they wanted to put up most of their money in debt. 20% cash/80% debt, the league wants no part of it, per Elliotte Friedman.

Glenn Healy believes it "doesn't even matter," that Tanenbaum will match any offer. Could be speculation, but he sort of makes it sound like he has talked to Tanenbaum.

http://www.cbc.ca/sports/hockeynightincanada/hotstove/video/#id=2169067942

 

[Melrose Munch]

wow hotstove is online now?