Friday, October 03, 2008

Preds blame Boots as losses mount

The Nashville Predators' ownership tangle has taken another twist with the startling admission the NHL team has defaulted on a $40-million (all currency U.S.) loan.

If that raises fresh questions about the franchise's viability, Nashville's owners say the blame should be laid at the feet of former minority owner William (Boots) Del Biaggio III, who declared bankruptcy in June.
I'm beginning to wonder whether the next lawsuit may be against the NHL itself for saddling the well-meaning local group in Nashville with an utter disaster of a partner. If this Del Biaggio business truly has made a mess of David Freeman and company's finances as is claimed, what a sorry situation that is.

In a lot of ways, this beleaguered group is Nashville's last chance, and if they bail while the losses mount, what then?

It's also becoming increasingly clear that Gary Bettman was offering bold-faced lies when it came to just how desperate the situation in Tennessee really was. Fast forward to the 6:25 mark here:



I don't know that the Predators are absolutely fine these days.

As an aside, Del Biaggio is back in court on Monday in what looks to be part of the bid by creditors to keep some of the info involved here out of the press. Stay tuned.
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13 Comments:

At 9:29 AM, October 03, 2008, Blogger Black Dog said...

Oh dear, is Bettman ever a tool.

Not aware of anything - either he's dumb or a liar.

I would say the latter.

 
At 10:05 AM, October 03, 2008, Anonymous Anonymous said...

Gary Bettman.... a liar?! NOOOOO!!!

 
At 10:14 AM, October 03, 2008, Blogger FAUX RUMORS said...

1) How can you tell Gary Bettman is lying? His lips are moving. Yes, old joke.
2) We may be looking at the final season for hockey in Nashville. Is that a bad thing?

 
At 10:35 AM, October 03, 2008, Blogger Hooks Orpik said...

It's a bad thing for the 10-13k rabid fans they have there that are just as good as anywhere else....The problem seems to be that's about all there is though.

The only thing worse than losing your team is the long, drawn out process of having it be in limbo. It's a very helpless feeling. So I feel for the Preds fans.

 
At 10:48 AM, October 03, 2008, Blogger furly said...

I'm starting to believe Balsille when he says they are doing everything possible to keep him out of the league. Makes no sense. You would think Leopold would have taken the highest offer regardless of his plans to relocate, in order to recoup his losses. He's a business man, and he knows better then anyone that a move from Nashville is inevitable somewhere down the line.

 
At 11:04 AM, October 03, 2008, Blogger Fred Poulin said...

I really can't stand that Bettman midget clown. He knows sh*t about hockey! I live in Qc City, and we lost the Nordiques and yeah we were bitter at first but we realized we were not a viable option for an NHL team in the 90s. It's the same situation in Nashville now, it's not a viable NHL city!!!! Move them somewhere else!

 
At 11:54 AM, October 03, 2008, Anonymous Anonymous said...

I think they need an independent investigator to check out Bettman's ties to the AEG group.
He personally brought in Boots and the fact all these European exhibitions are being played in AEG owned arenas is highly suspect.
So too is the fact that Boots was going to be able to purchase either Nashville or Pittsburgh to move them to Kansas City.
I believe it's time for the Board of Governors to hire an independent counsel to see if Mr. Bettman is really upfront and honest or if he's a puppet for AEG's interests.
If he is he has to be fired and jailed.
It would appear either Mr. Bettman is oblivious to obvious fraud or is a party to it.
Either way the integrity of the game is at stake with him as commissioner.

 
At 12:15 PM, October 03, 2008, Anonymous old said...

I feel for the Preds fans, and the Nordique fans, and the Whale fans, and the Jets fans. If you are one of those 10 to 12k rabid fans, and your team is more than likely going to move, then it royally sucks. You can argue all day and night wether there should have been an NHL team in Nashville to begin with, and you can argue the same about several other teams.

I am not a Preds fans, but if I was, I would be hoping for this;

I'm beginning to wonder whether the next lawsuit may be against the NHL itself for saddling the well-meaning local group in Nashville with an utter disaster of a partner. If this Del Biaggio business truly has made a mess of David Freeman and company's finances as is claimed, what a sorry situation that is.

The discovery phase before the trial alone would be worth reading to see what is up with Bettman, and the league, and the owners and their vetting process for new owners.

 
At 1:07 PM, October 03, 2008, Anonymous Anonymous said...

I'm starting to believe Balsille when he says they are doing everything possible to keep him out of the league. Makes no sense. You would think Leopold would have taken the highest offer regardless of his plans to relocate, in order to recoup his losses. He's a business man, and he knows better then anyone that a move from Nashville is inevitable somewhere down the line.

Unless the only way Leipold was guaranteed of a soft landing with the profitable Wild was to accept a lower offer.

The worst thing for the Nashville fans is how drawn out this is. It's like slowly pulling off a bandaid instead of just ripping it off and getting it over with. I feel horrible for them.

 
At 1:59 PM, October 03, 2008, Anonymous Anonymous said...

You have to wonder if the Predators will even see the season through comfortably. The situation is looking fairly dire for Nashville.

 
At 4:30 PM, October 03, 2008, Anonymous Gerald said...

I see the Brigade of the Mostly-Anonymous-and-Aggressively-Clueless is out in full force.

Not you, James. You are in the media, so you have an excuse. I fully understand that you can and will support Mr. Brunt, regardless of the fact that he has no business reporting on business.

As an aside, exactly how do you figure "It's also becoming increasingly clear that Gary Bettman was offering bold-faced lies when it came to just how desperate the situation in Tennessee really was." Both Freeman and Fritsch say today that they are okay.

Have you read the filing? Do you (or any of the above referenced Brigade) understand the nature of the claim? Are my services required?

Incidentally, the NHL "saddled" nobody with partners.

 
At 4:31 PM, October 03, 2008, Blogger Art Vandelay said...

W. H. A.

 
At 9:41 PM, October 03, 2008, Anonymous Scott said...

Gerald. Welcome to the internet. Now can you please stop treating it like a courtroom.

Thanks,

 

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