SPHL Missisisippi update

[CHRDANHUTCH]

the Mississippi (Southhaven) Riverkings have been bought from the Maddox Foundation and sold to an unidentified anonymous buyer, that is connected to the NBA ... THE ANONYMOUS OWNER will not hold an official release as of yet but did indicate the following: he has never previously owned a pro franchise, but is not allowed to own a pro basketball franchise at this time.... Biloxi, Jackson, and another city are in the running to return the Riverkings to active status so further details are forthcoming....

Click to read more...

 

[royals119]

the Mississippi (Southhaven) Riverkings have been bought from the Maddox Foundation and sold to an unidentified anonymous buyer, that is connected to the NBA ... THE ANONYMOUS OWNER will not hold an official release as of yet but did indicate the following: he has never previously owned a pro franchise, but is not allowed to own a pro basketball franchise at this time.... Biloxi, Jackson, and another city are in the running to return the Riverkings to active status so further details are forthcoming....

Do you have a source for this rumor? I searched, and couldn't find any mention of a sale.

 

[CHRDANHUTCH]

Do you have a source for this rumor? I searched, and couldn't find any mention of a sale.

it will come they just haven't crossed everything yet that needs to be done

 

[210]

it will come they just haven't crossed everything yet that needs to be done

So where did you read this information? I presume another forum or Facebook, so would you please indicate where you read this info.

 

[CHRDANHUTCH]

So where did you read this information? I presume another forum or Facebook, so would you please indicate where you read this info.

SPHL has their own page, and that is where it came from, IT'S THE FIRST NEWS about Missisippi since the Riverkings suspended but I'm sure they don't want it released at the present time, in case it falls apart.... just thought I'D PASS it on is all...

if it happens, fine, who the prospective owner is, will be interesting to know and why are they being secret right now, no one knows

 

[Barclay Donaldson]

So where did you read this information? I presume another forum or Facebook, so would you please indicate where you read this info.

He got it from here. Looks like it originated from a Facebook post which itself originated from an email. http://sphlforums.com/topic/28599-rumor-future-of-riverkings/

 

[210]

Now here's the big problem here...if this alleged NBA star is going to move the team why wouldn't he just buy an expansion franchise in the SPHL? He'd get way more bang for his buck with a new name and new team colors to match the new location. All he'd be getting by buying the Riverkings franchise is the name "Riverkings". There's way more money to be made by starting new

And let's go one step further, why wouldn't he buy an expansion ECHL franchise? Instead of being on the edge of the SPHL's territory he could be in the middle of a bunch of ECHL teams.

 

[CHRDANHUTCH]

Now here's the big problem here...if this alleged NBA star is going to move the team why wouldn't he just buy an expansion franchise in the SPHL? He'd get way more bang for his buck with a new name and new team colors to match the new location. All he'd be getting by buying the Riverkings franchise is the name "Riverkings". There's way more money to be made by starting new

And let's go one step further, why wouldn't he buy an expansion ECHL franchise? Instead of being on the edge of the SPHL's territory he could be in the middle of a bunch of ECHL teams.

likely because the deal in Southhaven, is not an option, when the Memphis Grizzlies elected to start the Hustle in the same arena, now Biloxi, was the base for the SeaWolves, Memphis was the original name of the franchise....

why would the ECHL return there, apparently the Riverkings were co-operated along with Pensacola under Tim Kerr and that may have played a role, if not what I STATED above, that's the problem when you have 2 sports competing at the same timeframe or time of year, why rebrand an existing or in this case, a successful suspended franchise....

why hasn't Pensacola stepped up to your point above, after Jacksonville seems to be working out... I'M surprised it's Missisippi, tbth, not Manchester.

 

[210]

What language is that post in?

 

[GSJ12981]

Now here's the big problem here...if this alleged NBA star is going to move the team why wouldn't he just buy an expansion franchise in the SPHL? He'd get way more bang for his buck with a new name and new team colors to match the new location. All he'd be getting by buying the Riverkings franchise is the name "Riverkings". There's way more money to be made by starting new

And let's go one step further, why wouldn't he buy an expansion ECHL franchise? Instead of being on the edge of the SPHL's territory he could be in the middle of a bunch of ECHL teams.

Just because you buy the franchise doesn't mean you can't change the name and colors. Roanoke bought the Mississippi Surge and changed everything.

 

[210]

Why would you assume the debt of a team you were going to move and change the name and color of when you could start fresh with no money owed to anyone?

 

[SemireliableSource]

likely because the deal in Southhaven, is not an option, when the Memphis Grizzlies elected to start the Hustle in the same arena, now Biloxi, was the base for the SeaWolves, Memphis was the original name of the franchise....

why would the ECHL return there, apparently the Riverkings were co-operated along with Pensacola under Tim Kerr and that may have played a role, if not what I STATED above, that's the problem when you have 2 sports competing at the same timeframe or time of year, why rebrand an existing or in this case, a successful suspended franchise....

why hasn't Pensacola stepped up to your point above, after Jacksonville seems to be working out... I'M surprised it's Missisippi, tbth, not Manchester.

Kerr never had a stake in the Kings. You're thinking the Mississippi Surge.

 

[GrGriffins]

If you read further down the chain on that post, someone mentions that Charles Barkley is your anonymous owner (or is leading a group of investors) in purchasing the RiverKings.

 

[JMCx4]

If you read further down the chain on that post, someone mentions that Charles Barkley is your anonymous owner (or is leading a group of investors) in purchasing the RiverKings.

Just one more reason why scroll bars should be banished from all social media sites.

 

[210]

Not that I really care, but why would Charles Barkley be prohibited from owning a basketball team? And more on topic, why would someone from Alabama be buying a suspended, debt-ridden hockey team in Mississippi?

 

[Liebo]

I'm new to the boards, and I'm certainly not well-versed in the history of franchises that went dark, like the RiverKings. But I can throw out some conjecture on all this conjecture.

why would someone from Alabama be buying a suspended, debt-ridden hockey team in Mississippi?

The buyer (be it Sir Charles, Sir Elton John, or the late Charles Bronson) is just buying the franchise rights, I imagine. The buyer wouldn't buy the company that owned the RiverKings, what with all its debt. But the old owner can sell the franchise rights as an asset. After doing so, with the only substantial asset the company owned sold, the RiverKings would likely declare bankruptcy and close their books.

Why buy a suspended franchise instead of a sparkling new expansion team? It could come down to simple cost. I have no idea what the going price is from the league for an expansion franchise, to be fair. But with the recent addition of a solid market in QC, and all the talk of expansion that's beginning to bounce around, sometimes leagues get a little ahead of themselves and overprice new franchises.

On the flip side, if the RiverKings aren't going to return to their former arena, be it because of the Hustle, old debt, or whatever, then the organization has nothing but franchise rights. The brand, fan base, etc., are all lost for a team that will restart in a new market. So stripped down, the balance sheet is the rights to a franchise, old debt, and not much else. So the RiverKings can unload their only real asset and close their books.

Expansion can put the league and franchise owners at odds if it's executed poorly, especially when there are franchises that are struggling or which have gone dark, like the RiverKings. If the league is selling expansion while the team is looking for a buyer, then the league and team are essentially competition. It could result in a good deal for the buyer, and some uncomfortable situations for the league. I remember in the old af2, the league would actively sell expansions franchises every chance it got. At the same time, struggling organizations were given a concrete deadline to commit for the next season, even if they were actively looking to sell. Instead of the league serving as a broker, matching willing buyers with eager sellers, it became competition for the struggling teams. The result was embarrassing turnover and awkward league meetings.

Again, I'm just throwing around a few ideas from the outside looking in. I could be way off. But I wouldn't get too caught up in the RiverKings' old debt, because that's not following the new team.

 

[mk80]

While the franchise returning in some form, be it as the RiverKings or setting up shop in a new market would be good for the league. There are a few red flags with this:
1. the original source for these rumors is very vague
2A. Why would a prominent NBA figure with the money behind them be barred from owning an NBA or even NBA D-League franchise?
2B. What makes the SPHL attractive to a high profile NBA figure? given the only two NBA owners I can think of in minor league hockey are San Antonio (AHL), and Orlando (ECHL), technically MLSE too but in that case I think it's more of a hockey owner, owning a basketball franchise.

These are all questions that raise some flags for me.

 

[GrGriffins]

Sounds like this is a made up story. SPHL has no knowledge of it. Info seems to be coming from Twitter accounts that are parody listed in their bios. Unless a reliable source comes out with validation to this "rumor", it appears to be a dream for a RiverKings fan hoping they would resurface back to life.

 

[Barclay Donaldson]

Sounds like this is a made up story. SPHL has no knowledge of it. Info seems to be coming from Twitter accounts that are parody listed in their bios. Unless a reliable source comes out with validation to this "rumor", it appears to be a dream for a RiverKings fan hoping they would resurface back to life.

The entire speculation is coming from a Facebook post which came from an email. I'm not saying that it's unreliable, but if I tried to include it in a works cited page for my senior paper then I would fail the class.

 

[JMCx4]

The entire speculation is coming from a Facebook post which came from an email. I'm not saying that it's unreliable, but if I tried to include it in a works cited page for my senior paper then I would fail the class.

Give education (and social media) another 10 years, and these will be the only sorts of citations available.

 

[210]

Again, I'm just throwing around a few ideas from the outside looking in. I could be way off. But I wouldn't get too caught up in the RiverKings' old debt, because that's not following the new team.

Let's just say based on past history I disagree.

 

[CrazyEddie20]

I'm new to the boards, and I'm certainly not well-versed in the history of franchises that went dark, like the RiverKings. But I can throw out some conjecture on all this conjecture.



The buyer (be it Sir Charles, Sir Elton John, or the late Charles Bronson) is just buying the franchise rights, I imagine. The buyer wouldn't buy the company that owned the RiverKings, what with all its debt. But the old owner can sell the franchise rights as an asset. After doing so, with the only substantial asset the company owned sold, the RiverKings would likely declare bankruptcy and close their books.

Why buy a suspended franchise instead of a sparkling new expansion team? It could come down to simple cost. I have no idea what the going price is from the league for an expansion franchise, to be fair. But with the recent addition of a solid market in QC, and all the talk of expansion that's beginning to bounce around, sometimes leagues get a little ahead of themselves and overprice new franchises.

On the flip side, if the RiverKings aren't going to return to their former arena, be it because of the Hustle, old debt, or whatever, then the organization has nothing but franchise rights. The brand, fan base, etc., are all lost for a team that will restart in a new market. So stripped down, the balance sheet is the rights to a franchise, old debt, and not much else. So the RiverKings can unload their only real asset and close their books.

Expansion can put the league and franchise owners at odds if it's executed poorly, especially when there are franchises that are struggling or which have gone dark, like the RiverKings. If the league is selling expansion while the team is looking for a buyer, then the league and team are essentially competition. It could result in a good deal for the buyer, and some uncomfortable situations for the league. I remember in the old af2, the league would actively sell expansions franchises every chance it got. At the same time, struggling organizations were given a concrete deadline to commit for the next season, even if they were actively looking to sell. Instead of the league serving as a broker, matching willing buyers with eager sellers, it became competition for the struggling teams. The result was embarrassing turnover and awkward league meetings.

Again, I'm just throwing around a few ideas from the outside looking in. I could be way off. But I wouldn't get too caught up in the RiverKings' old debt, because that's not following the new team.

This is an accurate post - the license to operate a team in the SPHL is the main asset of what remains of the RiverKings business.

Tupelo's can still make ice and still does, but Tupelo really isn't a big place (the population is less than 40,000) and so its viability as a market, even in the SPHL, is highly questionable.

The Mississippi Coliseum in Jackson is a decrepit dump with no ice plant. Jackson (and environs) is the largest city in Mississippi, but without a portable rink (which would have to be smaller than 200x85) being installed, it isn't going to happen.

Biloxi is the most viable market, but years of bad management that began with the post-Katrina return of the Sea Wolves may have poisoned the well forever.