Confirmed with Link: Senators are for sale - and it’s a Gong Show

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Masked

(Super/star)
Apr 16, 2017
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Agreed. Many effed up deals that will leave a mark.

I was approached to join the local investor group and was seriously considering it. But my partner and I both agreed that there will be cash calls. A 5M investment is not the scary part. But if this team loses $10-15M a year, what percentage am I paying? I am not shelling out $50-75K a year, hell no. Just got out of one effed up deal that cost ten times that.

I wouldn't be worried about the cash calls because the team is losing money. I'd be worried about cash calls because the controlling owner wants to increase his stake in the franchise. I think it was Vancouver that that happened. Billionaires don't get to be billionaires by not knowing how to use their financial leverage to their advantage.

Assen na yo!
 
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Mingus Dew

Microphone Assassin
Oct 7, 2013
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Agreed. Many effed up deals that will leave a mark.

I was approached to join the local investor group and was seriously considering it. But my partner and I both agreed that there will be cash calls. A 5M investment is not the scary part. But if this team loses $10-15M a year, what percentage am I paying? I am not shelling out $50-75K a year, hell no. Just got out of one effed up deal that cost ten times that.

Yeah good way to get crammed down or member loaned into oblivion.

Hard to see this thing being cash flowing any time soon. You're really just riding into the sunset and hoping for a juicy exit. Don't see the investment thesis unless you're a billionaire cool with operating shortfalls year after year.
 

DrEasy

Out rumptackling
Oct 3, 2010
11,011
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Stützville
I wish the winner of the bid would issue some sort of REIT (or something like that, basically some sort of share; I'm not a finance guy, but you get the idea) so that the general public could also own a tiny chunk of the team. It would be a fun way to be literally invested in the team.
 
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Big Muddy

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Dec 15, 2019
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NDA can preclude whatever the parties want it to.

Sometimes your prohibit someone from even acknowledging that they are in the process.

Leaks happen regardless though. NDAs are more about the fear of God.
Ya, I've never found NDAs as iron clad as people might think they are. They are very infrequently enforced from what I've seen (generally speaking, no idea in this case).

I've been involved in many large (billion dollar +) joint venture infrastructure projects. Never the sale of a sports team though. I would say in general these things typically take considerable time. I can't think of any examples where things happened quickly.

At the same time, I also know what I don't know, so I don't wade into the middle of things when there is so much that is unknown. I don't find it surprising that there's a lot of guessing going on as to what's happening behind those closed doors. Its possible that there's a few things leaking out, but listening to Bruce and Ian doesn't convince me that they have much of a pipeline into this situation fwiw.

Did the Commander's sale involve building a new stadium? I don't recall reading about that. The Penguins sale I think was a little different because the buyer was identified and singled out versus going through a competitive bid process from what I understand.
 
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Golden_Jet

Registered User
Sep 21, 2005
22,803
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Mendes on TSN 690 says that as of this afternoon all four groups believe they're still in it. The team announced they were on sale 200+ days ago...
Ya they did announce that, but first non binding bids weren’t due until March. It will get sold, nothing we can do
 

Tuna99

Registered User
Sep 26, 2009
14,924
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Mendes on TSN 690 says that as of this afternoon all four groups believe they're still in it. The team announced they were on sale 200+ days ago...

Sens fans have the same attitude to ownership sales as the Leafs do to the playoffs.
 

L'Aveuglette

つ ◕_◕ ༽つ
Jan 8, 2007
47,843
19,807
Montreal
I honestly would have completely tuned out of this process if it wasn't for the fact that an ownership change directly affects the product on the ice. The later this gets done, the less time there is to make the necessary improvements/changes needed. Say the new owner wants a new GM and/or coach, and the sale is only fully ratified in mid to late-June, there won't be much out there left. Same goes for re-signings and trades, there will be no time to do much before the draft and start of the UFA period.

This is the stuff I care about, and it's not looking good the longer these negotiations go on.
 

benjiv1

Registered User
Mar 8, 2010
5,230
3,368
Ottawa
If what I was told previously stands true, tomorrow is a big day.

Like chosen tomorrow and announced on Friday.

But as per usual, who the heck knows?
I can confirm that former Sens COO Nick Ruszkowski is part of the vetting process, and that it is a very thorough process, which is what I think Kypreos was alluding to.
 

Relapsing

Registered User
Jul 3, 2018
1,906
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If what I was told previously stands true, tomorrow is a big day.

Like chosen tomorrow and announced on Friday.

But as per usual, who the heck knows?
I can confirm that former Sens COO Nick Ruszkowski is part of the vetting process, and that it is a very thorough process, which is what I think Kypreos was alluding to.
Tomorrow can't come soon enough!
 

Golden_Jet

Registered User
Sep 21, 2005
22,803
11,133
I honestly would have completely tuned out of this process if it wasn't for the fact that an ownership change directly affects the product on the ice. The later this gets done, the less time there is to make the necessary improvements/changes needed. Say the new owner wants a new GM and/or coach, and the sale is only fully ratified in mid to late-June, there won't be much out there left. Same goes for re-signings and trades, there will be no time to do much before the draft and start of the UFA period.

This is the stuff I care about, and it's not looking good the longer these negotiations go on.
Probably go with stays quo, to start the season. No need to pick a guy, because it’s the last guy standing.
Could be next off season,
 

Daffy

Registered User
Jun 10, 2010
3,738
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If what I was told previously stands true, tomorrow is a big day.

Like chosen tomorrow and announced on Friday.

But as per usual, who the heck knows?
I can confirm that former Sens COO Nick Ruszkowski is part of the vetting process, and that it is a very thorough process, which is what I think Kypreos was alluding to.

Guess things fell through a bit for the Monday news?
 

BonHoonLayneCornell

Registered User
Oct 16, 2006
15,366
10,582
Yukon
If what I was told previously stands true, tomorrow is a big day.

Like chosen tomorrow and announced on Friday.

But as per usual, who the heck knows?
I can confirm that former Sens COO Nick Ruszkowski is part of the vetting process, and that it is a very thorough process, which is what I think Kypreos was alluding to.
Oh boy. Legendary Nick.

"Ottawa fans should be excited that there's a salary cap floor the team is required to spend to." or something like that lol.
 
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Tnuoc Alucard

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Sep 23, 2015
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Sure but this is the last English class I’m going to give you, next time you don’t understand something feel free to take 5 seconds and look it up.
View attachment 714214

so you don’t think a team owner is entitled to what owners have always enjoyed, when owning a pro sports team?
Should they give up their owners box?
should they sit in the nose bleeds?

The point is there are things an owner enjoys by the virtue of being the owner of the team… the poster I asked if he had something against rich (entitled) men…. Had no answer.

we all live in a free market capitalist system, and whatever we as individuals achieve, through our hard work, we’re entitled to.

Some people seem to resent those who have worked harder, achieved more and enjoy the benefits of their accomplishments …..
 
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benjiv1

Registered User
Mar 8, 2010
5,230
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Ottawa
Guess things fell through a bit for the Monday news?
Eh, I think news came out that everything was a bit of a gongshow over the US long weekend, so I didn’t feel the need to elaborate or backtrack.

Timeline I was told weeks ago was June 1st, followed by July 1st for the (keys).

But keep in mind, my source is within the organization, it doesn’t mean he’s privy to the inner workings of the sale itself as it’s being head by much higher ups.
 

BonHoonLayneCornell

Registered User
Oct 16, 2006
15,366
10,582
Yukon
so you don’t think a team owner is entitled to what owners have always enjoyed, when owning a pro sports team?
Should they give up their owners box?
should they sit in the nose bleeds?

The point is there are things an owner enjoys by the virtue of being the owner of the team… the poster I asked if he had something against rich (entitled) men…. Had no answer.

we all live in a free market capitalist system, and whatever we as individuals achieve, through our hard work, we’re entitled to.

Some people seem to resent those who have worked harder, achieved more and enjoy the benefits of their accomplishments …..
Of course many are jealous of wealth. It's a normal human trait. No need to rub it in to anyone's face that is less fortunate. It's why those with power typically exploit it to serve themselves in selfish ways as is basically documented throughout all of human history. It makes life way easier, buys you better food & health care and thus likely a longer life for them/friends/family, less responsibility not having to work if they chose not to, more fun from exclusive access to entertainment and functions, etc.

I'm definitely jealous of the early retirement opportunity first and foremost.

Much of the wealth hoarding in the world has been built through privilege, corruption, exploitation, lobbying government officials or just straight up buying them off, etc. etc. Or it was handed to them to create an opportunity not available without capital. Or like say Tom Dundon, they simply exploited those less fortunate with predatory lending.

Of course, there are also many that did do it in the way you describe and are stand up people actually interested in being more than just being a drain on society and that's great.
 

Wondercarrot

By The Power of Canadian Tire Centre
Jul 2, 2002
8,153
4,000
so you don’t think a team owner is entitled to what owners have always enjoyed, when owning a pro sports team?
Should they give up their owners box?
should they sit in the nose bleeds?

The point is there are things an owner enjoys by the virtue of being the owner of the team… the poster I asked if he had something against rich (entitled) men…. Had no answer.

we all live in a free market capitalist system, and whatever we as individuals achieve, through our hard work, we’re entitled to.

Some people seem to resent those who have worked harder, achieved more and enjoy the benefits of their accomplishments …..

Good lord.
1. Do you put words in other people’s mouths because it’s easier for you to make your silly arguments?

2. I’ll bet if he restated, he’d say rich entitled assholes (most of whom happen to be men), since that’s generally the context for those of us who haven’t fallen out of the sky purposely misunderstanding how words work.

3. I’ve been an owner of both small and large businesses, so I’m reasonably confident I have good handle on noblesse oblige lol

3. If this thread has taught us anything it’s that your understanding of civics in Canada needs a lot of work.
 
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