Tuesday, June 03, 2008

Bye bye Boots

Boots Del Biaggio, we hardly knew ye.

I haven't commented on the news that the Nashville Predators' minority owner is being investigated by the SEC, but Tom Benjamin covered off the particulars nicely on the weekend.

Monday night we learned via Al Maki that Mr. Boots had a pretty swell deal with the Nashville consortium:
Del Biaggio, Southern California financier Warren Woo and Bergeron were supposed to be in for almost 32 per cent of the club. Del Biaggio's deal stipulated he would not finance any losses, but share in the club's profits.
A new lawsuit against the "San Jose socialite investor," this one filed by the bank founded by his father, was revealed Monday.

It's estimated Boots's stake in the ownership group is now aboute 27 per cent, which means there's likely a big hole to fill in Nashville.

Anyone want a quarter of an ailing hockey team?

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At 6:08 a.m., June 03, 2008, Blogger J. Michael Neal said...

I love finance. I want back into the field very badly. A two semester sequence on the math of options hooked me for life, even though I'm still reading textbooks to try to understand Ito's Lemma. Finance is fun.

On the other hand, as much as I love the subject of finance, I dislike a lot of people in finance.

At 11:56 a.m., June 03, 2008, Blogger Leather McWhip said...

What a farce. I'm not a rabid, knee-jerk Bettman hater, but how can Gary not be entirely ashamed of where he's helped to put this league?

All the "small" items aside, the two matters of PBS-like television exposure and the continual small-market financing fiascos should be casting a shadow on this man so large and looming that it suffocates him. And yet the discussion always falls back on the isolated issues, and not on the climate that fosters the more-or-less consistent failures ... most attributable either to Bettman's ignorance or his arrogance, and both inexcusable.

At 12:39 p.m., June 03, 2008, Anonymous Anonymous said...

so, now we are back to being an ailing franchise. oh, we never left being one? i see. thanks Canadian 'media'. as always, you are very helpful.

At 1:21 p.m., June 03, 2008, Blogger Doogie said...

so, now we are back to being an ailing franchise. oh, we never left being one? i see. thanks Canadian 'media'. as always, you are very helpful.

Let's see, weak attendance, losing money, and 27% of your money is now on trial for all manner of financial douchebaggery.

Yup, I'd say you're in trouble. Which is too bad, because I've noted many times that I have a soft spot for the Preds, having been to a game in Nashville a couple of years ago.

At 1:37 p.m., June 03, 2008, Blogger FAUX RUMORS said...

1) Maybe John Spano will come in and bail out the Preds?

At 5:36 p.m., June 03, 2008, OpenID tersa said...

To add to the hockey angle of this, the San Jose Mercury news is reporting that Luc Robataille was among five board members, including Del Baggio, who resigned Friday from the board of Onco Petroleum.

At 7:13 a.m., June 04, 2008, Anonymous Anonymous said...

Now a third lawsuit has been filed. This one for $10.0 million. I know Boots and he is a psychopath.


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