The future of the Ottawa Senators

[coladin]

Harry Mews was drafted by the Capitals in the 80's I think that's about as far as that goes. Crazy how running a fewcar dealerships can get you in the conversation for a owning pro hockey team. Gotta love the @coladin insider info, keep it coming!!

My friend...do you know who is the CEO of Myers Automotive Group?

 

[Ice-Tray]

Run a small market sports team in the Tundra, or pocket $350M and slink off into the sunset. Hmmmm

I would keep the team, at least a nice share of it…. Wouldn’t you?

 

[GCK]

I would keep the team, at least a nice share of it…. Wouldn’t you?

I’m a fan so yes.

 

[Big Muddy]

No one really knows what Melnyk's daughters want to do, so I don't see the point in guessing.

I will mention something though that I don't see being discussed. We talk about the 2 as if they have one common goal. They very well may have different ideas on what they want to do with the organization i.e., sell versus don't sell. I've seen this happen a number of times when a trust was involved. This could take some time to resolve. I hope not, but there's just so much we don't know about.

 

[Golden_Jet]

Did you say it will be hard for revenue to rise because they have expenses or am I missing something?

Maybe you confused revenue with profit?

Yep worded wrong, profits.

 

[branch]

I would keep the team, at least a nice share of it…. Wouldn’t you?

Maybe for sentimental purposes, sure why not.

 

[branch]

My friend...do you know who is the CEO of Myers Automotive Group?

Lol you got me. I was doing some reading yesterday afternoon and it hit me like a slap in the face.

 

[Golden_Jet]

Oh really? I had no idea

It shows.

 

[Pancakes Pancakes]

Wondering if owner of Claridge might be one of the parties interested in the Sens. Potential for housing development on the land in Kanata, as well as Lebreton. Malhotra's are worth about $1.8B, and obviously has a solid revenue stream with the current real estate market.

 

[MCNSTY]

Wondering if owner of Claridge might be one of the parties interested in the Sens. Potential for housing development on the land in Kanata, as well as Lebreton. Malhotra's are worth about $1.8B, and obviously has a solid revenue stream with the current real estate market.

Greenberg’s and Malhotra’a together along with others would be ELITE.

 

[Pancakes Pancakes]

Greenberg’s and Malhotra’a together along with others would be ELITE.

I have it under good authority that Alfie knows the Malhotra's quite well as well. So, while I am wondering about the possibilities, there seems to be some links there that make sense!

 

[coladin]

Lol you got me. I was doing some reading yesterday afternoon and it hit me like a slap in the face.

Had to look up what I said years ago, and ran into that epic @mysens thread...remember how hilarious that was with him snapping pics and sending them from the Italian Riviera? With his Rolex in the pic? The rumoured Ferrari? That was so funny!

We both heard the same thing back 4 years ago, that the Mews family had consolidated assets and were looking to partner up with Melnyk. Cyril Leeder was newly hired and it seemed like things were going to fall into place and then, as many of these deals go, it was off. Now, who knows, but this conglomerate that may purchase the team would have someone who knows the intrinsic workings of an NHL team.

But I still think the person who ulitmately buys this team will be Desmarais coupled with a local hockey player. Can't help but think of the timing of two captains meeting for lunch. Can't help but think of the timing that Melnyk's liabilities have been completely calculated and appraised for current debt load.

No promises, but I think the girls do not have the appetite for this, and certainly that article will possibly scare them away. I know that their mother may have some advice as well on how to live thier lives, and not their father's life.

Did you ever get a ride in the Ferrari?

 

[Samboni]

With a group ownership it’s important that everyone sings the same tune and marches to the beat of the same drum. Too many or the wrong investors could create more instability.

 

[coladin]

I have it under good authority that Alfie knows the Malhotra's quite well as well. So, while I am wondering about the possibilities, there seems to be some links there that make sense!

I'd be surprised, frankly if the Malhotras would get into the NHL business, but definitely they would be all over the rest of the project. They don't need the aggravation of NHL ownership. Bill is slowing down too, and the boys have a busy plate as it is and without Lebreton, have thousands of condos to build already...and that requires a lot of financing. I think the Greenbergs and Malhotras respect each other, but the only person I could see Malhotra reeling in would be the Singhals (Richcraft).

 

[TheDebater]

All I am really hoping that we get for the Senators next is an ownership "group" and not a sole owner like Melnyk. Now I realize not every rich sole NHL owner is like Melnyk as he was a unique type, but I am at a point where I would rather not be able to put a face to our owner.

I want our next owner to be named "XYZ group" and not "Mr. Something."

 

[branch]

Did you ever get a ride in the Ferrari?

Nope but the salt is pretty much off the road now - he has my number!

 

[MCNSTY]

All I am really hoping that we get for the Senators next is an ownership "group" and not a sole owner like Melnyk. Now I realize not every rich sole NHL owner is like Melnyk as he was a unique type, but I am at a point where I would rather not be able to put a face to our owner.

I want our next owner to be named "XYZ group" and not "Mr. Something."

Almost guaranteed that it’ll be a group over a sole owner. The days of sole ownership in the NHL are dwindling away slowly.

 

[aragorn]

Lol you got me. I was doing some reading yesterday afternoon and it hit me like a slap in the face.

Was Will Smith with you?

 

[Mingus Dew]

I was fascinated to hear that Greenberg tried to dig Bryden out. That is news to me. Maybe someone who knows more about bankruptcy can explain this better. Perhaps @Mingus Dew ?

I am thinking that because Bryden was involved in saving the team from creditors, the asking price to settle would have been much, much higher than what Melnyk bought it for. Maybe what I find more disturbing is Greenberg is willing to be putting a billion (possibly), but let the team fall into receivership back in 2003. They always had the money. I am going to have to see what I can find out!

This Athletic story is not unlike the Quebec City story that rankled the organization, and there were rumours who were behind it. I think and I know that there are parties who are quite content to see the Athletic story released and this only makes the decision to stick around , the Melnyks, more unpalatable.

I spoke with some well connected gentleman and it leaves me no doubt that the team will be sold. But I also feel that OSEG will not be involved directly with the purchase, but may be part of the Lebreton plans. There are former players aligned with a billionaire who will most likely buy it. I also have heard that the Mews Group may be in on this, as I mentioned a few years back. Gee, anyone working for them who knows anything about running an NHL team?

I'm not a BK lawyer unfortunately. I've been involved with a few on the margins but I don't have any special insight here. In my limited experience a debtor usually exits Chapter 11 with DIP financing from a syndicate of lenders that often overlap with the secured creditors. Perhaps Greenberg was willing to finance Bryden's emergence in order to secure a more attractive sale?

 

[branch]

Was Will Smith with you?

No, Amber Heard was though

 

[Stylizer1]

My friend...do you know who is the CEO of Myers Automotive Group?

Boom goes the dynamite.

 

[Stylizer1]

My prediction is the girls keep a minority stake and let someone else run the team. The new owners get rid of Garioch and make Ian Mendes their new Media lord and he runs the show.

 

[AchtzehnBaby]

Crazy… from Mendes call:

 

[Micklebot]

Crazy… from Mendes call:

Not sure I follow, he's talking about how increasing the STH base to 10-12k is how you prevent the leafs and Habs from taking over the rink, because it leaves max 6000 tickets for them to buy up and drive in from out of town. Not really a novel concept.

 

[AchtzehnBaby]

Not sure I follow, he's talking about how increasing the STH base to 10-12k is how you prevent the leafs and Habs from taking over the rink, because it leaves max 6000 tickets for them to buy up and drive in from out of town. Not really a novel concept.

Crazy how low the STH is now. This hopefully picks up to stop embarrassing the sea of blue next year.