bert
Registered User
[MOD]
Bang on with the timelines and information thank you for summing it up. I think what people truly have to understand this is way bigger than purchasing an NHL team. Devcore is in this for the real estate deal and the opportunity to develop the giant parcel of land right downtown, where the new east west LRT and the north south LRT meet directly in the middle of it. I think from their business model they wouldnt want to buy the team right now anyway, they would likely want to develop Lebreton so there is more infrastructure built up before the arena and team arrives. As a sens fan its going to be a lot more losing and piss poor management for the foreseeable future however I am just happy that I know they aren't going to relocate. I can sleep easy knowing that a committed and qualified local buyer like Devcore at the table ready to buy whenever Melnyk is forced to do so.
Yeah, it comes down to this:
NHL wants Ottawa at Lebreton because it would turn Ottawa from breakeven to a long-term profitable franchise.
City/NCC wants the team downtown because they can just give Lebreton to developers. It has to be something more exciting or city council will be voted out next election.
Devcore is rumored to have offered Melnyk 400-500 for the team already.
Melnyk wants 650 because of Lebreton opportunity and expansion values.
Devcore said fine, you go build the new area.
Melnyk failed because he doesn't have the cash to float the team if the revenues from the developments condo sales (which are paying for the arena) are slower than expected.
Melnyk still wants 650 or still thinks he can salvage Lebreton
Devcore says fine, we'll build it ourselves and then wait you out.
The NHL is truly stuck. Privately they would LOVE to replace Melnyk with Devcore. Devocre brings much more to the table as business entities and non of the sideshow Melnyk brings. But they have to support an existing owner.
A good sign in the short-term would be full radio silence from NHL. This would clearly indicate that they are at the point where they do not want to take sides and are waiting for the end-game to play out just like everyone else.
Bang on with the timelines and information thank you for summing it up. I think what people truly have to understand this is way bigger than purchasing an NHL team. Devcore is in this for the real estate deal and the opportunity to develop the giant parcel of land right downtown, where the new east west LRT and the north south LRT meet directly in the middle of it. I think from their business model they wouldnt want to buy the team right now anyway, they would likely want to develop Lebreton so there is more infrastructure built up before the arena and team arrives. As a sens fan its going to be a lot more losing and piss poor management for the foreseeable future however I am just happy that I know they aren't going to relocate. I can sleep easy knowing that a committed and qualified local buyer like Devcore at the table ready to buy whenever Melnyk is forced to do so.
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