Post by Kenny S on Jun 8, 2009 18:01:37 GMT -5
So the Winnipeg ownership group was recently in Atlanta. Probably not going to happen, but proof the ownership group exists and doing something.
Off the playoff map: Group was interested in buying, moving Thrashers
Monday, June 8, 2009 | Print Entry
Posted by Scott Burnside
PITTSBURGH -- With the NHL embroiled in bankruptcy court in Phoenix over the future of the Coyotes, there are spin-off stories, or at least spin-off rumors, involving the Atlanta Thrashers.
Sources have told ESPN.com that a number of groups, including one from Winnipeg, have explored the potential of buying the Thrashers and moving them out of Atlanta.
However, the reality of the situation is that there are a number of factors that likely mean the team will remain in Atlanta for the foreseeable future.
Much of the speculation stems from the fact that the ownership group, Atlanta Spirit, is nearing the end of a long court battle with former partner Steve Belkin and will have to pay a significant amount to finally disentangle the ownership situation.
As a result, Atlanta Spirit is actively looking for new investors to essentially cover the cost of buying Belkin out of his 30 percent stake of the team. That could mean bringing in someone as a full partner or someone who has a specific interest in one of the two teams owned by the group, the NBA's Hawks or the Thrashers. Atlanta Spirit also owns the teams' home, Philips Arena.
In recent weeks, there has been some discussion about an investor simply buying the team and taking it out of Atlanta, but current ownership is unlikely to agree to that. Philips still owes about $100 million in naming rights to the group, but the agreement stipulates that there be two anchor tenants at Philips, and the hockey team is one of them. The implication is that anyone looking to move the team out of Atlanta would have to factor that into the purchase price.
Similarly, even if the team continues to lose money (less than $10 million this year), it still makes more sense economically to have two major tenants than one in Philips Arena.
There is also the matter of the agreement signed between the Atlanta Spirit group and the NHL when the former took over ownership of the team a little more than four years ago. They agreed at the time not to explore relocation options for at least eight years.
sports.espn.go.com/espn/blog/index?entryID=4241315&name=09cupplayoffsblog
Off the playoff map: Group was interested in buying, moving Thrashers
Monday, June 8, 2009 | Print Entry
Posted by Scott Burnside
PITTSBURGH -- With the NHL embroiled in bankruptcy court in Phoenix over the future of the Coyotes, there are spin-off stories, or at least spin-off rumors, involving the Atlanta Thrashers.
Sources have told ESPN.com that a number of groups, including one from Winnipeg, have explored the potential of buying the Thrashers and moving them out of Atlanta.
However, the reality of the situation is that there are a number of factors that likely mean the team will remain in Atlanta for the foreseeable future.
Much of the speculation stems from the fact that the ownership group, Atlanta Spirit, is nearing the end of a long court battle with former partner Steve Belkin and will have to pay a significant amount to finally disentangle the ownership situation.
As a result, Atlanta Spirit is actively looking for new investors to essentially cover the cost of buying Belkin out of his 30 percent stake of the team. That could mean bringing in someone as a full partner or someone who has a specific interest in one of the two teams owned by the group, the NBA's Hawks or the Thrashers. Atlanta Spirit also owns the teams' home, Philips Arena.
In recent weeks, there has been some discussion about an investor simply buying the team and taking it out of Atlanta, but current ownership is unlikely to agree to that. Philips still owes about $100 million in naming rights to the group, but the agreement stipulates that there be two anchor tenants at Philips, and the hockey team is one of them. The implication is that anyone looking to move the team out of Atlanta would have to factor that into the purchase price.
Similarly, even if the team continues to lose money (less than $10 million this year), it still makes more sense economically to have two major tenants than one in Philips Arena.
There is also the matter of the agreement signed between the Atlanta Spirit group and the NHL when the former took over ownership of the team a little more than four years ago. They agreed at the time not to explore relocation options for at least eight years.
sports.espn.go.com/espn/blog/index?entryID=4241315&name=09cupplayoffsblog