TNSE Efforts to Acquire an NHL Team Part IX

[King Woodballs]

sportsnet....that deal is already done.

where did you read that?

 

[Retail1LO*]

By unloading the Thrashers and removing them from Atlanta, it is more than possible that the monies earned from the sale negates the need for a local investor for the Hawks and the arena. According to the lawsuit, that almost appears to be the endgame.

I believe there's a couple of things that factored into ASG's decision to split things up.

While there may have been investors willing to buy all 3, most were likely looking at acquiring them all at a discount, BECAUSE they were buying all 3.

There's also a chance that the price for the whole enchilada was being brought down, because some parties used the inclusion of the Thrashers against ASG. "We're taking on a big money loser here, we're going to lose a ton as soon as we buy this thing. As such, we simply can't offer as much."

I simply see this as ASG making the most money they can. They know Winnipeg has an NHL ready stadium and an owner with the deepest of deep pockets who will pay more for the Thrashers than anyone else out there. He also knows that once the Thrashers have departed, it will be easier to find suitors interested in simply buying a basketball team with a stadium that now has far more open dates to host profitable events.

I'm certain it's something like this. I don't have a problem with it either. However, they could have been a bit more forthcoming with their intentions. My guess is they didn't feel like having to put up with the public backlash any sooner than was necessary.

 

[tarheelhockey]

So, basically, they've publicly admitted many times to wanting to either sell the team (to anyone, including local) or involve local investors in their group.

No, what they have done is say publicly that they are "committed" to keeping the Thrashers in Atlanta. Now you tell me, was ASG actually committed to keeping the Thrashers in Atlanta?

 

[knorthern knight]

Now they've decided they just want to keep the white meat, and get rid of the gizzards. So they're selling the Thrashers, for more than they'd have gotten for them as a portion of selling the entire lot.

If Atlanta fans take this personally, that's on them. ASG isn't sticking it to the fans. This is business. That's all it is.

This is a very similar approach to corporations that outsource manufacturing jobs to China and Korea, throw thousands of local people out of work, and turn a thriving local industrial sector into a "rust belt". It's not that they can't afford to keep the Thrashers, but rather that they make more money dumping them, same as the North American outsourcers.

 

[Grudy0]

Edited for brevity...

I am certain that they were aware of that possibility, and if any of the buyers for all 3 were actually serious or capable, they would not have just turned them away because they don't like hockey or whatever other emotional arguments you can think about are.

Moores did not want to purchase the Thrashers. That is why there was exclusivity for only the Hawks and Phillips. It was because the buyer only had interest in those two, not because ASG wanted to save money losing Thrashers piece for a separate sale. ASG is lucky that TNSE is around to purchase to take the Thrashers off their hands, they didn't orchestrate any of this to help TNSE out.

You are absolutely correct here. The $110MM infusion of cash will certainly remove the need for new investors for the Hawks. The implication that this entire scenario was manufactured by ASG for that express purpose is laughable as it makes zero sense from a fiscal standpoint.

Going by that which we do not know, we know Moores was kicking the tires with an exclusive negotiating period agreement for the Hawks and the arena rights. What we do not know is if the entire Hawks/Philips operations within the exclusive agreement was for sale, or just a minority stake, etc.

We also know that other than interest in the Hawks and the arena vis a vis Moores, there has been no serious discussions for ASG to sell the Hawks and the arena. From the malpractice lawsuit, we know that ASG wanted to sell the Thrashers six years ago. Just the Thrashers. It is far from emotional when everything is pointing to the fact that ASG doesn't appear to want the NHL franchise there, and doesn't offer up any other incentive to keep the team in Atlanta as a tenant of Philips Arena.

You did bring up an interesting point. Why sign an exclusivity agreement for two pieces when it is the third piece you really want to sell? Exclusivity for those two pieces leaves anyone that wants all three out of the equation and makes the third piece completely unattractive when revenues are being siphoned off to the arena operations.

 

[Blasto]

E
You did bring up an interesting point. Why sign an exclusivity agreement for two pieces when it is the third piece you really want to sell? Exclusivity for those two pieces leaves anyone that wants all three out of the equation and makes the third piece completely unattractive when revenues are being siphoned off to the arena operations.

Yup that's A$G's plan.

 

[CorbeauNoir]

The difference is that you don't have people from Dallas and New Orleans sneering at Toronto, saying that they don't "deserve" the NFL because they're too far north, the way you have people from Canada looking down on the southern US and saying they don't "deserve" hockey because it doesn't snow there.

I wish I knew the American you do.

 

[saillias]

I don't see the connect in putting the dollar sign in the ASG acronym. Maybe it is meant to be ironic? They were clearly not very good at making money at all.

 

[cbcwpg]

Bettman comments today.....

"Maybe at some point there will be a deal, maybe there will never be a deal"

"I'm not in Winnipeg," Bettman said to clarify. "I haven't been in Winnipeg.

We respect the importance of Atlanta as a city. It's a big market, but this is a franchise that's got a problem in that market."

But the issue, if there's a problem that's unsolvable, despite the grass roots hockey, despite all of the corporate headquarters, is there somebody, if it gets to this point where the current owners don't want to own it anymore, is there somebody who wants to own this franchise in Atlanta?

http://www.nhl.com/ice/news.htm?id=563978

 

[ThrasherMinion]

Bettman comments today.....

"Maybe at some point there will be a deal, maybe there will never be a deal"

"I'm not in Winnipeg," Bettman said to clarify. "I haven't been in Winnipeg.

We respect the importance of Atlanta as a city. It's a big market, but this is a franchise that's got a problem in that market."

But the issue, if there's a problem that's unsolvable, despite the grass roots hockey, despite all of the corporate headquarters, is there somebody, if it gets to this point where the current owners don't want to own it anymore, is there somebody who wants to own this franchise in Atlanta?

http://www.nhl.com/ice/news.htm?id=563978

FU Gary. Damn right there's a problem and it starts and ends with ASG. Just go ask the Hawks fans too. And YOU sir, have done nothing but join TNSE and ASG in unholy matrimony and won't even ask anyone who "disagrees with this union speak now..."

Well, we've been screaming for years until our voices were gone, and the NHL put in earplugs.

 

[Ulfie]

I rather doubt TNSE would decide not close in Atlanta if the Moose to St. John's falls through, but this news complicates the situation.

http://www.cbc.ca/sports/hockey/story/2011/05/27/nl-williams-ahl-527.html

Cue GSC2k2 for subsidizing hockey teams,

 

[Melrose Munch]

Wow is this sale even going to happen? Come ON!!

 

[Oscar Acosta]

The difference is that you don't have people from Dallas and New Orleans sneering at Toronto, saying that they don't "deserve" the NFL because they're too far north, the way you have people from Canada looking down on the southern US and saying they don't "deserve" hockey because it doesn't snow there.

Oh, believe me they would if Dallas and New Orleans didn't have NFL teams in football markets while the NFL was testing every backwoods market in Canada.

 

[Confucius]

ASG is A business people, I,m sure they didn't get into this as some form of charity. /eez 1st people want revenue sharing then they want the owners to suckup more losses just so they can go to a hockey game for 20 bucks.

 

[Magnus Fulgur]

ASG is A business people, I,m sure they didn't get into this as some form of charity. /eez 1st people want revenue sharing then they want the owners to suckup more losses just so they can go to a hockey game for 20 bucks.

If they were a business, then they wouldn't have let Don Waddell wreck the team for 11 years. Gearon says he doesn't know anything about hockey - if you buy a business you better know something about it, or then don't come whining to the press that the market isn't buying what you're selling.

When ASG decides to conduct themselves in a professional manner, then we can talk about them being a business.

Sheesh...just get the Gladiators out of Gwinnett, put The Moose in there, and send The Thrashers to Manitoba. That's the way it should be. Then, have Hedberg become the coach of the Moose (he loves Atlanta) and it will be a big PR smash.

You tell The Atlanta fan base that we'd get The Moose with Hedberg as "Hed" or Assistant Coach, and the place would completely sell out for the season (just under 12K, I believe).

 

[Koss]

Bettman comments today.....

"Maybe at some point there will be a deal, maybe there will never be a deal"

"I'm not in Winnipeg," Bettman said to clarify. "I haven't been in Winnipeg.

We respect the importance of Atlanta as a city. It's a big market, but this is a franchise that's got a problem in that market."

But the issue, if there's a problem that's unsolvable, despite the grass roots hockey, despite all of the corporate headquarters, is there somebody, if it gets to this point where the current owners don't want to own it anymore, is there somebody who wants to own this franchise in Atlanta?

http://www.nhl.com/ice/news.htm?id=563978

If there is indeed a deal that's done and waiting to be announced these remarks from the Commissioner are not only irresponsible, but actually demeaning to the fans of hockey no matter what market you cheer for.

So the question is, is Bettman really this dishonest or is a deal really further away than we have been lead to believe.

 

[tarheelhockey]

As much as I don't want to see the Thrashers leave, this could get even uglier if the sale stalls.

 

[Koss]

As much as I don't want to see the Thrashers leave, this could get even uglier if the sale stalls.

I guess Bettman is going to teach us Canadian fans once and for all that we have to learn our place in supporting the NHL.

 

[Buck Aki Berg]

FU Gary. Damn right there's a problem and it starts and ends with ASG. Just go ask the Hawks fans too. And YOU sir, have done nothing but join TNSE and ASG in unholy matrimony and won't even ask anyone who "disagrees with this union speak now..."

Well, we've been screaming for years until our voices were gone, and the NHL put in earplugs.

And just what should the league have done? Make ASG care?

 

[tarheelhockey]

I guess Bettman is going to teach us Canadian fans once and for all that we have to learn our place in supporting the NHL.

That's one reason why it would be so ugly... I doubt Bettman is forcing a stalemate here, but it would certainly be taken that way.

On the other side of the coin, Atlanta fans would be asked to continue supporting an organization that has already sold them out. It could turn into one of the ugliest seasons for any team in recent memory.

I don't support what ASG has done, but I'd rather see them leave in 2011 than 2012. Let's not drag this thing out.

 

[Finlandia WOAT]

And just what should the league have done? Make ASG care?

Bingo.

Anyone who wants to own the Thrashers in Atlanta is either going to have to pay an arm and a leg to convince ASG to part with Phillips Arena (at least a controlling share), or put with being their tenants.

If the NHL wants to have hockey in Atlanta, then that hockey has to be played in Phillips Arena. As far as I am aware, there are no other places suitable enough to host NHL hockey.

ASG has made it crystal clear that they do not want a hockey team unless the owner agrees to their conditions, whatever they may be. And no one wants to buy into those conditions.

The NHL's hands are tied. They can force ASG to sell the Thrashers (within obvious reason) to someone they choose, but they have no jurisdiction over the Hawks and Phillips Arena.

 

[Magnus Fulgur]

Perhaps now that Bettman KNOWS that half of ASG wants to sell all three, he's going to do what he can to force them to take that offer if it comes. Which it hasn't

 

[rj]

Bingo.

They couldn't even make Dollar Bill Wirtz care and the Blackhawks are an Original Six franchise in the 3rd-largest city in the country.

 

[borno87]

Edited for brevity...Going by that which we do not know, we know Moores was kicking the tires with an exclusive negotiating period agreement for the Hawks and the arena rights. What we do not know is if the entire Hawks/Philips operations within the exclusive agreement was for sale, or just a minority stake, etc.

Either way he wanted no part of the Thrashers, period. You framed the Moores exclusivity as if ASG wasn't willing to include the Thrashers in negotiations, rather than the reality of the situation.

We also know that other than interest in the Hawks and the arena vis a vis Moores, there has been no serious discussions for ASG to sell the Hawks and the arena. From the malpractice lawsuit, we know that ASG wanted to sell the Thrashers six years ago. Just the Thrashers. It is far from emotional when everything is pointing to the fact that ASG doesn't appear to want the NHL franchise there, and doesn't offer up any other incentive to keep the team in Atlanta as a tenant of Philips Arena.

You did bring up an interesting point. Why sign an exclusivity agreement for two pieces when it is the third piece you really want to sell? Exclusivity for those two pieces leaves anyone that wants all three out of the equation and makes the third piece completely unattractive when revenues are being siphoned off to the arena operations.

Again, because the buyer did not want the third piece. You keep making the assumption that it was ASG that was only selling the Hawks and Phillips, completely ignoring the fact that Moores did not want to purchase the Thrashers. I don't know why Moores did not want to purchase the Thrashers, but that is the reality of the scenario. You speculate above that it is because ASG siphoned off revenues from Thrashers to arena operations which is a pure assumption made on no fact. Even if this was the case, it would not be difficult for a buyer to identify this type of accounting during due diligence and account for those types of irregularities in a potential lease.

You have also ignored the fact that there has been no serious buyer for all 3. Claims that ASG has stonewalled potential buyers are preposterous. Again this is about money. ASG has none. If the only way the individual shareholders of ASG could get their $ out of the enterprise was to sell all 3 they would have done that. However that scenario has not come to pass, and the only scenario that is a reality is selling to TNSE.

Again I am not absolving ASG of mismanaging the Thrashers. Clearly they are guilty of that. However the tales of purposeful losses and flushing money downt he toilet need to stop.

 

[Huffer]

The Bombers lost money 2 years ago. It was on the last page.

http://www.tsn.ca/cfl/teams/story/?id=317001&hubname=cfl-blue_bombers

Oh now I get it, you can now just point to any year in a teams existence and say they lose money now.

Nice house of cards you're building.