JD1
Registered User
- Sep 12, 2005
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- 9,645
Any deal with Melnyk still involved is a bad one. Hope it falls apart, im in this for the long haul. I have no interest in this team with him as an owner.
Yep. There are two immediate issues with the franchise: ownership and arena location....in that order.
Arena location is not a significant issue. There's an opportunity for potentially a better location but it isn't a franchise killer like the current ownership is.
Why would the Ruddy/Bird team do that?Ottawa Senators, partners in mediation to save downtown arena deal
According to this article, it was Ruddy's team who reached out to suggest the mediation process.
Why would the Ruddy/Bird team do that?
Potential money to be made.Why would the Ruddy/Bird team do that?
I'm thinking that they just realized that another developer is going to wrangle control of the project and the two lawsuits are going to cost everyone a LOT of money. They should be able to find a way to make EM happy and still make lots of money. Much more money than watching a different entity develop that land. And hopefully EM sells in a few years and isn't even an actor in the near future.I'm guessing they realized during the lawsuit defense preparations that Melnyk's claim had more merit than most people (including myself) thought.
The Art of The Deal...sort of hahs
In the grand scheme of things, very predictable scenario playing out. They are both looking for the best deal and will drag it out in front of everyone to do it. At the end of the day, the bottom line is all that matters.
Both do not want to walk away from Lebreton.
You left out the $1 lease part....wonder why?Yeah, that's pretty much it.
EM does not want to take on any risk, and I suspect, in a negotiation tactic made the following offer last month
In a written statement, CSMI proposed to assign its interest to Trinity for the residential, retail, commercial and recreational elements of the LeBreton Flats plan. Trinity would collect all the revenue.
In exchange, Trinity would finance the $500-million arena, instead of CSMI. Any profits from the massive redevelopment of LeBreton Flats would be Trinity’s alone under the CSMI pitch.
CSMI proposes to pay for the operating and life-cycle costs of the arena during the lease term.
Ottawa Citizen December 18, 2018
And hearing that there is Mediation going on, between the RLG partners meaning that both sides see there's money to be made, and don't want to pass up on it.
This is good news for Ottawa Senator fans .......... not so much for those who are hoping for an ownership change ....... but you never know, Ruddy might want a piece of the Franchise, in return for funding the construction of the Arena.
... but you never know, Ruddy might want a piece of the Franchise, in return for funding the construction of the Arena.
This. I do believe it was "notice to terminate". Technically meaning "we will terminate the deal in 30 days..." Presumably there was an "unless" clause in the wording. There usually is, and 99% of the time the person receiving the notice to terminate does not meet the "unless" but these stakes are wholly different that anything I've dealt with professionally.Like I said in the other thread, the NCC terminating the deal was just a technicality that solidifies the January deadline as something real.