News Article: Lebreton

[AchtzehnBaby]

It’s going to happen.

 

[Pierre from Orleans]

Any timeline as to when construction will start and when the arena may be up and running?

 

[Gil Gunderson]

The sharks are circling right now and I'm sure are willing to pay a pretty penny to get in on that development opportunity. To imply the franchise value is at a low right now, right after winning a massive bid, is hilarious and an indictment to how you operate here.

What are you going to do when no Melnyk is associated with this franchise? Pine for the Eugene glory days? Please don't put us through that.

I think we’ll start hearing more rumours about partners after all the lawsuit stuff in the fall.

 

[GCK]

The Melnyk Sisters are not selling anytime soon…. So don’t hold your breath.
It is almost a certainTy that they’ll see the building and move to a new arena through, and IF they want to sell, it would be then when the franchise value would be somewhat higher than it is today.

sorry.

Yes they are. The only question is all or just a majority stake.

Not sorry.

 

[YouGotAStuGoing]

It’s going to happen.

I think we all know there's a snowball's chance in hell of this.

 

[Stylizer1]

It’s going to happen.

Hell f***ing no.

 

[Ralph Malfredsson]

It’s going to happen.

Well we already have the Civic Centre on Bank Street.

Allow me to propose the address of the new arena.

On a street named after an all-time Sens legend.....

One Bonk Street

 

[scallionjj11]

I'd party with you

Can I come?

 

[JD1]

The sharks are circling right now and I'm sure are willing to pay a pretty penny to get in on that development opportunity. To imply the franchise value is at a low right now, right after winning a massive bid, is hilarious and an indictment to how you operate here.

What are you going to do when no Melnyk is associated with this franchise? Pine for the Eugene glory days? Please don't put us through that.

I think he meant low meaning the day prior to the announcement...which is why he said it'll only increase in value from here

 

[JD1]

Any timeline as to when construction will start and when the arena may be up and running?

They said 15 months to negotiate the land lease, maybe add 4 years, drop of the puck on the 27-28 season?

 

[Tap on the Ankle]

Land cleanup, time tax for multi bureaucracies involved, general large project delays, Ottawa being Ottawa… 2030 is my estimate for opening and even that might be optimistic. Hope I’m off base and it really is more like 2027.

 

[topshelf15]

Yes they are. The only question is all or just a majority stake.

Not sorry.

Agreed,they dont have the capital nor the experience that would lead the NHL bog to think and vote for them to be viable owners

 

[Big Muddy]

I did find that Tipping Point Sports provides these services:

M&A Advisory
• Due diligence
• Negotiate deal terms
• Purchase Agreement negotiation
• Develop Business Plan
• Operating projections
• Valuation
• Acquisition financing
• Limited partner equity
• League approval process
• Vendor negotiation
• Assistance in closing

So, could potentially indicate that they are actively seeking some equity partnerships or sale.

Yes, this bit is "interesting".

 

[JD1]

Agreed,they dont have the capital nor the experience that would lead the NHL bog to think and vote for them to be viable owners

The NHL governors can't vote them out and cause them to sell, it simply doesn't work that way

 

[topshelf15]

The NHL governors can't vote them out and cause them to sell, it simply doesn't work that way

The NHL will ask for proof that they have the capital to run the team ,and yes they do and can vote on any new owner

 

[topshelf15]

Yes, this bit is "interesting".

Maybe this is from the league itself,to get this project finally off the ground and facilitate a sale

 

[Tuna99]

This is the start of 2-5 years of ups and downs and continued heartbreak and frustration to get this building started

This won’t be smooth, this is the NCC and the Ottawa Senators together which is like putting a dog on ecstasy and a cat with emotional problems in a cage together and asking them to build you a new arena - this will be frustrating

 

[AchtzehnBaby]

This is the start of 2-5 years of ups and downs and continued heartbreak and frustration to get this building started

This won’t be smooth, this is the NCC and the Ottawa Senators together which is like putting a dog on ecstasy and a cat with emotional problems in a cage together and asking them to build you a new arena - this will be frustrating

Everyone knows this whole lebreton thing was nothing without the arena. The partners will make this move quickly and efficiently through the bureaucracy. EM set this up so that the best group would guide this along. This is not the same as the LRT fiasco. This is a tier one team that has one goal: build an arena.

 

[Micklebot]

The NHL will ask for proof that they have the capital to run the team ,and yes they do and can vote on any new owner

I'm not sure blocking the transfer of ownership as a result of an inheritance would survive a legal challenge, I mean, yes the league's bylaws allow them to require 2/3 vote on any transfer or assignment of over 5% stake in the team but just because they put it in their bylaws doesn't mean it's legal.

I'm pretty sure the league would have zero interest in testing this out as the downstream effect could be catastrophic if they lose.

 

[Tuna99]

Everyone knows this whole lebreton thing was nothing without the arena. The partners will make this move quickly and efficiently through the bureaucracy. EM set this up so that the best group would guide this along. This is not the same as the LRT fiasco. This is a tier one team that has one goal: build an arena.

Have you ever heard of Lansdown Park?

 

[topshelf15]

I'm not sure blocking the transfer of ownership as a result of an inheritance would survive a legal challenge, I mean, yes the league's bylaws allow them to require 2/3 vote on any transfer or assignment of over 5% stake in the team but just because they put it in their bylaws doesn't mean it's legal.

I'm pretty sure the league would have zero interest in testing this out as the downstream effect could be catastrophic if they lose.

Iam sure the daughters do have their legal rights...But the team is a franchise of the NHL and owners or potential owners would have to follow the rules of running said franchise

 

[Tuna99]

I'm not sure blocking the transfer of ownership as a result of an inheritance would survive a legal challenge, I mean, yes the league's bylaws allow them to require 2/3 vote on any transfer or assignment of over 5% stake in the team but just because they put it in their bylaws doesn't mean it's legal.

I'm pretty sure the league would have zero interest in testing this out as the downstream effect could be catastrophic if they lose.

Bettman is in the business of building NHL arenas and I’m sure he has the money and people lined up for Ottaws to get an arena up, but the daughters aren’t into arenas and without guarantees from each side (30 year lease) I doubt the arena builders would put a shovel in the ground - the team will be sold because you can’t get a billion to build an arena without a guarantee the team will play there - and the delays the NCC will cause will just make the whole thing very risky.

Team will be sold by the end of the summer, just to much money needing to flow to do this with magic paperwork and promises from New York and the NCC

 

[Big Muddy]

Maybe this is from the league itself,to get this project finally off the ground and facilitate a sale

Ya, I have no idea about whether there's league involvement.

I just found it interesting in that why would a Merger & Acquisition (M&A) firm be involved in something if there wasn't any M&A going to happen.

My "guess" (yep, its a guess) is that the Melnyk's are trying to retain a majority stake but the potential suitors will want majority ownership because that's what big money typically wants. It will take time for this play out no doubt and I'll just sit back and wait to see what happens.

 

[Micklebot]

Iam sure the daughters do have their legal rights...But the team is a franchise of the NHL and owners or potential owners would have to follow the rules of running said franchise

Actually, it's the other way around, league can't supercede the laws of the land. They can set up all the bylaws they want but if they go against established law they won't hold up in court.

 

[Micklebot]

Team will be sold by the end of the summer, just to much money needing to flow to do this with magic paperwork and promises from New York and the NCC

I suspect a stake will be sold, the real question is how much and will Olivia and Anna Melnyk retain 50+1%