Thrashers Bombshell: Owners have wanted to sell since 2005

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No buyers locally for 5+ years is pretty damning + who ever buys would have to play rent etc so it would be worse

They could not sell the team until the issue with Belkin was resolved, which finally occurred this December. The main reason for the lawsuit was the poorly worded ownership contract that led to Belkin's buyout going to court for 5 years.

 

[peter sullivan]

Your right. They signed an Agreement with the NHL the team cannot be re-located and must stay in ATL..A thing most people are over-looking (And is stated in that article). So the ****** group of 7 want to sell the team..Good. But it has to stay in ATL..What's new here?

has it not been reported here that this agreement was for 7 years and expires this season?....in march I believe?

not that it matters....its a contract that can be broken if the the NHL decides a dedicated multi billionaire in another market is better than a loose group that has been trying to bail for years....

 

[Dogbert*]

And yes, You can force a company to keep funding a team until they are broke or the NHL steps in and buys it.

Well, that would be a brilliant course of action. I'm sure the NHL would have scores of potential owners lined up to join the old boys' club if that happened.

This is all just more proof - as if we needed it - that this "stability" the NHL loves to brag about was attained in the same way as the league achieved parity. It's completely and utterly manufactured. Change the rules until everyone wins. That's why I laughed when Gary Bettman chastised Dean Lombardi for calling the league's integrity into question - because the league has no integrity, and hasn't since the moment that bald-headed moron took over.

 

[roccerfeller]

Out of any rumour or potential "hogwash" to come out of the Atlanta "situation" (whether it exists or doesn't) I would say, this is the most telling...the writing is right there; they've ben trying to sell since 2005!

when an owner wants to "dispose" of a team, its not a good sign.


Good luck ATL fans, but you guys have been horribly mislead by this group.


It might work out for Canadian fans to their delight at the end of the day, but as usual, the fans come second to the true interests at heart...


Where there is smoke, there is fire...

coincidentally, it times nicely with Quebec City's likely new arena moving forward non? That is of course, if someone like Dave Thomson has not already "eased" this group's ability to cope with their losses.

 

[Acesolid]

Mod: deleted.
More seriously, they better win this lawsuit, how dumb do you have to be to make it so you buy something that you cant sell later!

 

[unstuck]

They never cared. Never. They could have at least had the decency to start the suit in the off-season. I'm crushed.

I feel awful for Atlanta fans. You are absolutely right that Spirit is being classless (literally) by doing this now in the middle of a the season and completely sticking it to the fans (however few!) that have been loyal to this franchise.

I sincerely hope you guys make the playoffs and have at least one, good, last run to show em what...

 

[Ashe]

has it not been reported here that this agreement was for 7 years and expires this season?....in march I believe?

not that it matters....its a contract that can be broken if the the NHL decides a dedicated multi billionaire in another market is better than a loose group that has been trying to bail for years....

No one knows exactly. The lease is a ridiculous some of years, With a ridiculous buyout per year.

And the agreement as far as i know was reported to be at least 15 years and hearing upwards of 25.

 

[btn]

has it not been reported here that this agreement was for 7 years and expires this season?....in march I believe?

That is just a rumor, the details of that non-relocation agreement have never been released to the public.

Now granted it is a rumor that has been repeated by some folks so often that it is accepted as fact by some.

 

[Ashe]

I feel awful for Atlanta fans. You are absolutely right that Spirit is being classless (literally) by doing this now in the middle of a the season and completely sticking it to the fans (however few!) that have been loyal to this franchise.

I sincerely hope you guys make the playoffs and have at least one, good, last run to show em what...

It's not that are few fans, There are a ton of fans, Just a lot don't want to support the ownership/gm for previous mistakes.

 

[OthmarAmmann]

No one knows exactly. The lease is a ridiculous some of years, With a ridiculous buyout per year.

And the agreement as far as i know was reported to be at least 15 years and hearing upwards of 25.

Hopefully that doesn't result in bankruptcy court and then some Coyotesesque two-year saga.

 

[Killion]

First of all, I am not sure why you think NHL would not give Atlanta permission to leave if this owner is telling the truth about this agreement with NHL. I bet it just means they have to have NHL's okay of what City and owner it gets moved to. This would be to avoid a crazy owner like what happened in Baltimore.. They can't prevent Spirit Group from selling to outside interests since they control the management lease of Phillips arena. There is no where to go for a new local owner to move to.. No new owner would pay a massive lease to Spirit Group. They also would not get to share in "other" revenues that Phillips arena produces..

Second, the lawsuit will proceed in Atlanta regardless of what happens to the team going forward... This lawsuit is about the past, not the future...It will not effect anything the owners do with the team onward. It could take years even long after Thrashers have left.

Thanks for the clarification on the Phillips arena situation. Your assessments accurate, and absolutely the NHL could very well enable SG to sell the franchise to outside interests & relo, and I dont like it one bit. Atlanta is a massive media market with many majors moving their from NYC; strategically important if not absolutely vital to the growth & development of the game in the south. IMO, what we have here is yet another example of atrocious ownership aided & abetted by a careless league. Absolute malfeasance, corruption & utter incompetence on a grand scale.

What a mess!

Bettman & Daly rearranging the deck chairs wont stem the flooding Whileee. Of all the southern & southwestern markets to fight for, Atlanta would be at the top of my list. What a nightmare.

 

[tarheelhockey]

Well, this certainly explains a lot.

 

[MaskedSonja]

Wow, a new exhibit at the zoo!

Well, Mr. Maclean has some new material for Bettman's All-Star interview...


SO, ABD.....I'm already seeing a sequel to our book!


"Thrashed in Flames: The Atlanta story"


Honestly, I should be gobsmacked, but I'm not. The whole Yotes situation has me numb at this point. It will be interesting to see as we get into the details, but from the NHL perspective, they do NOT need this as we approach the All Star Game.

Wonder how many parts this thread gets to.

 

[Dogbert*]

Watching the holes in Uncle Gary's fairy tale get bigger and more noticeable is very entertaining for those of us who can't stand the ***** and what he and his buddies have done to this once-great league.

 

[Whileee]

This is why the NHL is a joke. They make comments about the Atlanta market yet the thrashers have had less on-ice success but about the same attendance as the yotes.

What's so surprising about that? After all, the NHL owns the Coyotes, not the Thrashers.

 

[cbcwpg]

I feel awful for Atlanta fans. You are absolutely right that Spirit is being classless (literally) by doing this now in the middle of a the season and completely sticking it to the fans (however few!) that have been loyal to this franchise.

Hey I feel for the Atlanta fans as well, but try being told on Jan 19, 1996 that your team has been sold to Phoenix, but guess what, they have to play one more season before they can be moved. Have that happen then tell me how you feel.

If the team is going to be moved or just has general bad news, I would want to be told ASAP, so I can stop spending money on them if I so choose.

 

[peter sullivan]

Hopefully that doesn't result in bankruptcy court and then some Coyotesesque two-year saga.

when the thrashers leave it will be like ripping off a band-aid....there is no glendalesque sugar daddy to save them with public money.

 

[Fidel Astro]

Watching the holes in Uncle Gary's fairy tale get bigger and more noticeable is very entertaining for those of us who can't stand the ***** and what he and his buddies have done to this once-great league.

Pretty much.

For those of us who think the southern expansion has been a really negative direction for the NHL, it's nice to see it beginning to collapse. It's kind of a validation for those of us who have criticized the experiment since day one, in the face of being told how wrong we are by Americans for years.

Obviously this whole thing is far from over, but the boat is taking on water, and while Bettman is frantically trying to patch up one hole (Phoenix), another one just burst open.

 

[CHRDANHUTCH]

Pretty much.

For those of us who think the southern expansion has been a really negative direction for the NHL, it's nice to see it beginning to collapse. It's kind of a validation for those of us who have criticized the experiment since day one, in the face of being told how wrong we are by Americans for years.

Obviously this whole thing is far from over, but the boat is taking on water, and while Bettman is frantically trying to patch up one hole (Phoenix), another one just burst open.

if ASG wants to sell one, they're required to sell both.... now does TNSE, Quebec, etc want to add a professional basketball franchise (the Hawks) as well as the Thrashers because that's what Atlanta Spirit agreed to when they bought both franchises from Time Warner (Turner).....

 

[ponder]

This sucks for the committed Thrashers fans (such as the ones on this board), sounds like a terrible ownership group. On the other side, though, you can see why they would want to sell if the team is just bleeding money, and if nobody local has any interest in buying, that could definitely say bad things about the financial viability of the team.

On a related note, does anyone have an explanation for why Atlanta is such a bad pro-sports market in general? It's a massive city, close to 6 million in terms of metropolitan area. I can get why hockey isn't popular there, but I watch a lot of basketball too and the Hawks get HORRIBLE support too, despite the fact that they've had a young, exciting team that's been one of the best in the east for quite a few years in a row now, and they have a pretty good/successful history too with the Dominique Wilkins teams. It's easy (and likely partly correct) to blame the owners, but is there also maybe some reason why nobody really wants to own a team there, something about the city that makes it a bad pick in terms of support for professional sports teams like the Hawks and Thrashers?

 

[MaskedSonja]

Maybe someone can fill me in...

The apparently "lack" of care about the Atlanta franchise by the NHL, but absolute obsession with keeping the Yotes in Phoenix.

Why the disparity? If the NHL wants to keep the Yotes in PHX, shouldn't they want just as badly to keep the team in Atlanta(and Daly's comments seem to go against that idea)?

Unfortunately, once again, its bureaucracy/paperwork that's at issue with an NHL franchise. In this case, with claims of wanting to sell the franchise for 5 plus years.

How are Atlanta fans supposed to be feel about this? Mind you if the Yotes situation is any example-they don't matter, "It's just business"-sad but true.

 

[Whileee]

Thanks for the clarification on the Phillips arena situation. Your assessments accurate, and absolutely the NHL could very well enable SG to sell the franchise to outside interests & relo, and I dont like it one bit. Atlanta is a massive media market with many majors moving their from NYC; strategically important if not absolutely vital to the growth & development of the game in the south. IMO, what we have here is yet another example of atrocious ownership aided & abetted by a careless league. Absolute malfeasance, corruption & utter incompetence on a grand scale.



Bettman & Daly rearranging the deck chairs wont stem the flooding Whileee. Of all the southern & southwestern markets to fight for, Atlanta would be at the top of my list. What a nightmare.

For the record, I agree. There are plenty of franchises that have had struggles with attendance that are in much less important markets than Atlanta. This is all on the ownership situation, in my opinion.

 

[edog37]

Your right. They signed an Agreement with the NHL the team cannot be re-located and must stay in ATL..A thing most people are over-looking (And is stated in that article). So the ****** group of 7 want to sell the team..Good. But it has to stay in ATL..What's new here?

they signed the agreement, but if there are no local buyers, then it will sell out of market & the team would be relocated. There are no local buyers & have not been so for 5 years. That alone drops franchise value to the floor. One of Bettman's responsibilities is to ensure franchise value is kept high. The only way to do so is to make it portable.

The NHL will not wait around on this nor will they goose step around. If they did, they would face a massive lawsuit from the Spirit Group. This will not be a repeat of the Phoenix fiasco either. I have a feeling the league will act quickly on this. So much so, next year will see Phoenix in Winnipeg & Atlanta in Quebec.

 

[Whileee]

Maybe someone can fill me in...

The apparently "lack" of care about the Atlanta franchise by the NHL, but absolute obsession with keeping the Yotes in Phoenix.

Why the disparity? If the NHL wants to keep the Yotes in PHX, shouldn't they want just as badly to keep the team in Atlanta(and Daly's comments seem to go against that idea)?

Unfortunately, once again, its bureaucracy/paperwork that's at issue with an NHL franchise. In this case, with claims of wanting to sell the franchise for 5 plus years.

How are Atlanta fans supposed to be feel about this? Mind you if the Yotes situation is any example-they don't matter, "It's just business"-sad but true.

As I posted in a Phoenix thread, the answer seems rather obvious. The NHL owns the Coyotes, not the Thrashers. They have a clear motivation for juicing the Phoenix market because they are trying to sell the team they own there.

 

[MaskedSonja]

if ASG wants to sell one, they're required to sell both.... now does TNSE, Quebec, etc want to add a professional basketball franchise (the Hawks) as well as the Thrashers because that's what Atlanta Spirit agreed to when they bought both franchises from Time Warner (Turner).....

Not ENTIRELY OT-funny how the NBA is talking about contraction right now. I don't know if Atlanta is one of the teams targeted: but, in a hypothetical situaition, say TNSE buys the whole kit and kaboodle-wouldn't suprise me in the slightest if the Atlanta Hawks suddenly became "disposable" during NBA CBA contraction talks.

And before I get slammed for conspiracy/disenginous, collusion ect-all I am saying it wouldn't be surprising, that's all.


Outrageous? Probably. Unrealistic-not necessarily....