Apparently you didn't read the part that said that Gaylord was still paying the Preds $9m.
Sure I did. Gaylord Entertainment hasn't had naming rights since the lockout, and the Predators are earning $0 on current naming rights. Why do you think it's called Nashville Arena now ?
But since you brought up a good issue, I have some further information regarding the subject (for those who think I don't care about facts
) :
Gaylord paid $ 4 million upon the termination of the naming rights agreement in february, 2005. They also paid $ 1 million in October, 2006. $ 1 million is remaining each year until October, 2010.
But guess what ? That money isn't guaranteed. If the Predators move, any outstanding money owed is voided.
Further, if the Preds were to move this summer, they'd have to pay Gaylord back $ 2 million.
Here are some snippets of info the Apologists would like to ignore:
i) The Predators had six cash calls between December, 2001 and February, 2004 - forcing infusions of money to cover losses.
ii) Gaylord owned 19.9 % of the Predators - a significant stake.
iii) Gaylord paid the following in naming rights:
1999-00 $ 2,050,000
2000-01 $ 2,152,500
2001-02 $ 2,260,125
2002-03 $ 2,373,131
2003-04 $ 2,491,787
iv) Gaylord agreed to pay a penalty (which was almost the equivalent to what their naming rights cost the previous five seasons) to immediately end their naming rights and
relinquish their significant shares in the team so that they wouldn't be on the hook for any more losses.
The bad market apologists would like fans to believe that Gaylord Entertainment is simply reinvesting their advertising dollars elsewhere. The fact is, Gaylord gave away their 20% interest in the team in february, 2005 for free (sorry, 19.9% for the fact checkers) so that they wouldn't be on the hook for the current & future losses (after six cash calls in 2 1/2 years, who could blame them), and made a great deal to cut their losses for their naming rights' mistake when the team moves.
source : Securities Exchange Commission filings