Preds to stay until 2011
Multiple sources have confirmed to THN.com a deal has been reached between the city of Nashville and a prospective local ownership group to rework the team’s lease at the Sommet Center that will guarantee the Predators remain in Nashville until at least through the 2010-11 season.
Good news for fans in Nashville, who have been jerked around ever since Jim Balsillie signed an agreement to purchase the team back in May.
That said, this team needs to start selling tickets, a problem the new ownership group will hopefully be able to start tackling before this becomes a lost season. Even with the new concessions from the city, the Predators aren't a sustainable entity with only 12,000 or 13,000 fans in the building.
They've got their work cut out for them.
Labels: Predators
by James Mirtle @ 2:09 PM
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I'll get ripped for saying it so I'll post anonymously:
That's terrible news for the NHL. Fold 'em up already. They have, are, and will continue through 2011 to be part of a piano tied to the NHL's ass.
It'll be interesting to see how all the details come out in the days ahead. According to that article, it becomes relatively easy for the team to leave either 3 or 5 years down the road.
Regardless, you're right in that job #1 is making the operation profitable. Adding the performance venue to the Sommet Center and bringing in AEG to run the arena are good starts, but the main thing to watch will be to see how well the new ownership group markets the team. Let's just say there's nowhere to go but up in that regard...
In reading the Forechecker's comment I see the magic letters suddenly appear - AEG.
According to the Forechecker the city in addition to the give aways of sales tax revenue and ticket revenue from the smaller performance facility, has agreed to sign a management contract with AEG to run the arena. Im sure the agreement will be very profitable to AEG. Obviously this was the "grease" needed to get the deal done.
I'm sure in three years time the owners will claim major losses and threaten again to move the team - UNLESS OF COURSE THE CITY AGREES TO SELL THE ARENA TO AEG AT NEXT TO NOTHING - IN WHICH CASE THE TEAM WILL STAY ANOTHER 5 YEARS.
Its pretty clear now AEG runs the entire NHL. I'm sure the next directive out of Bettman's office will be that all existing owners must sell their arenas to AEG or lose their franchise!
AEG will certainly play a big role in making this work, due to a couple reasons (as cited in a Nashville Post article I can't find right now);
1. Expertise in operating the arena more efficiently, and
2. The international clout to draw more major events and sponsorships to its stable of arenas. Now you'll likely see Nashville getting included in major concert tours that it was missing out on before, as groups tour the AEG-circuit.
AEG would make the Norris family jealous.
Please read this storys
http://www.newschannel5.com/Global/story.asp?S=7328092&nav=menu374_5_3
Mayor denies Web story on Preds deal
http://e-paper.nashvillecitypaper.com/Default/Skins/CityPaperD/Client.asp?Skin=CityPaperD&Daily=TCP&AppName=1
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