Preds Partisan
Gunga galunga
- Aug 17, 2009
- 3,318
- 899
Are you saying you're bankrupt???? We can raise some money for you if you need....... You should have built in a traditional market..
Yes, I am morally and ethically bankrupt.
Are you saying you're bankrupt???? We can raise some money for you if you need....... You should have built in a traditional market..
Are you saying you're bankrupt???? We can raise some money for you if you need....... You should have built in a traditional market..
It's neat to see how one guy asks if this is a sign of something bad coming...and everyone jumps all over him. Instead of just saying 'No I don't think so, sometimes it is but it doesn't appear to be in this case.' people choose to go overboard and start bringing up traditional vs. non-traditional hockey markets...people praying for failure...etc., etc.
Parking Rights!!! How much for the parking rights to your driveway?
In the wake of a $75 million credit influx, Nashville Predators chairman Tom Cigarran sees a bright future for the team – one that won't include moving trucks.
Tuesday, the team announced a $75 million credit facility fueled by a cadre of local and regional banks, which Cigarran says should be notice the once-rocky financial situation for the team is firming up.
"If you go back to when we purchased the team in 2007, the business climate was totally different. It was pretty easy to get money," said Cigarran, who took over as chairman from David Freeman 11 months ago. "It's gone from very easy to very difficult. The fact we were able to do it at all says a lot. The local banks all chimed in, and they see some of the things we've been doing. And unless that happens, we won't be able to do the things that … will keep [the team] here forever. That's what we're about. When we re-organized back in Feburary, we said we are committed to do everything we can to keep the team here."
Parking Rights!!! How much for the parking rights to your driveway?
Are you saying you're bankrupt???? We can raise some money for you if you need....... You should have built in a traditional market..
Okay, if things are so rosy in Nashville, why are they wanting new investors? Colour me skeptical....
Investors = $$$
Not that I want to get involved in yet another discussion about the merits of hockey franchises in "non-traditional markets", but in calculating the future success of franchises it occurs to me that companies that make lots of money often want fewer owners, and companies that are losing lots of money want more owners.
It's true that "Investors = $$$", but a much better business model is "Lots of Paying Customers = $$$".
Shedding Del Biaggio and finalizing the $75 million opens the door for the partners to find some more new money, a process Cigarran expects to start within a few weeks.
"We couldn't start that until we got the financing done, until we had the Boots situation taken care of. All those pieces were like stepping stones," he said. "We're not going to run out of money when Boots presents his bill for $39 million, which he could have done in January. We have this bank financing. No investor was going to put money up [before]. ... We had to get those pieces in place."
Regarding new owners, Cigarran said "We are going to start in two or three weeks. We don't need a 100 people, we need, say, three. We want them to be compatible, look at this investment the right way." As for a time frame, don't look for news soon: It may be "a year or two years" before the new partners are in place.
It's also funny how jealousy is starting to rear it's head here.
The article clearly states that:The Predators have one foot in the grave here in Nashville and are leaving voice-mails on the Winnipeg's Vice Mayor's phone daily. So I should expect the bankruptcy filing next week and the Winnipeg Predators to start playing in March. That is unless St. Jim Baldy the national hero of Canada gets involved. Then the Hamilton Predators or maybe they are looking at Quebec or maybe Halifax. Because a non-traditional market cannot be trending upward they are all failures and disasters ruining the game of hockey and should be move back to where they rightfully belong..
Okay, if things are so rosy in Nashville, why are they wanting new investors? Colour me skeptical....
allows the team to recruit additional local investors
I beg to differ with you- many posters are hoping and praying for failure. Their reasons seem to vary.
There are many posters that are praying for franchises to fail because of the inclination of opinion that hockey in non-traditional markets can't possibly work... Trying to convince otherwise is a futile task.
You must be new to the Business forum. Welcome.
I stand by by what I said, not one person here 'hopes and prays' that a franchise fails. Commenting on problems the NHL is facing is not the same as 'hoping and praying' a franchise fails. Too many Bettman apologists extrapolate any criticism as being 'pro-relocationist' or 'anti-sunbelt'. You've been on the receiving end of that label on many occasions yourself AllBy...
Expanding businesses often look for new investors. The Preds are coming out of a serious crisis that nearly caused them to relocate -- now that they have (or soon will have) their financial problems settled and the franchise has a near-guarantee of stability, it's the appropriate time to look for new investors.
It's actually laid out pretty clearly in the article SLake posted.
I have the funny feeling that certain forumers are guilty of posting without reading the articles.
I was simply musing about the fact that seeking new investors for a rather stable business model (how are the Nashville Predators "expanding" as a business?) generally indicates some problems, at least short term, in the underlying profitability. Consider the various NHL franchises that have been seeking new owners / investors over the past several years and I think that they tend to have underlying problems with the basic business model. We seldom hear about owners of the very profitable franchises seeking out new investors with whom to share the profits.
Really... did it say wanting?? I will re-read the article, but I don't recall it was out of necessity. I will get back to you.
Predators Chairman Tom Cigarran said refinancing the debt allows the team to recruit additional local investors
I You've been on the receiving end of that label on many occasions yourself AllBy...