Official Francesco Aquilini Thread

[StreetHawk]

People who know flagged this issue immediately. If Paolo wants to cash out they will have a big cash call on his stake that will almost definitely impact the business, unless they bring in a minority partner.

I would wager the inner family disagreement is around a lump sum upfront or some sort of structured payment agreement that allows them to pay him out of cash flow over time (plus interest), which could allow them to continue to operate at current burn without selling equity in the team to cover the cash call.

Opens up an interesting research assignment on CSE’s current leverage and debt capacity as well.

If they are going to do a payment over time, that puts their cash flow in a tough position when it comes to payroll and upgrades to the arena, practice facility, etc.

I mean, if the Canucks were to one day move Abby to Surrey (if they do build that 10K arena), then it makes sense to build the practice facility to accommodate the Surrey club as well with their own locker room in the facility and grant them access to everything. But, that requires planning and making sure they have the cash flow.

End of the day, so long as the family has majority control, does it matter that they own 60%, 80%, or 100% of the team?

 

[Bgav]

If they are going to do a payment over time, that puts their cash flow in a tough position when it comes to payroll and upgrades to the arena, practice facility, etc.

I mean, if the Canucks were to one day move Abby to Surrey (if they do build that 10K arena), then it makes sense to build the practice facility to accommodate the Surrey club as well with their own locker room in the facility and grant them access to everything. But, that requires planning and making sure they have the cash flow.

End of the day, so long as the family has majority control, does it matter that they own 60%, 80%, or 100% of the team?

That would never happen

 

[TruGr1t]

If they are going to do a payment over time, that puts their cash flow in a tough position when it comes to payroll and upgrades to the arena, practice facility, etc.

I mean, if the Canucks were to one day move Abby to Surrey (if they do build that 10K arena), then it makes sense to build the practice facility to accommodate the Surrey club as well with their own locker room in the facility and grant them access to everything. But, that requires planning and making sure they have the cash flow.

End of the day, so long as the family has majority control, does it matter that they own 60%, 80%, or 100% of the team?

I assume they are trying to not sell a minority stake or the answer is fairly straightforward … you sell enough equity to pay Paolo out and add some liquidity to the sheet.

The fact there are reports around inner turmoil around this suggests the remainder of the family is trying to maintain current ownership structure, which either means some other payment structure, raising some form of debt, or selling other assets in the family portfolio to raise liquidity.

I would assume it could be some combination of the above where the try to convince Paolo to take payment plus interest over time, and raise additional funds somehow. Or maybe Paolo wants cash and they are trying to do some type of internal family asset swap instead, I suppose the disagreement could be valuation on the swap, or Paolo just wants cash.

 

[Hollywood Burrows]

These grease stains should be screwing little old ladies on their heating bills, not owning a hockey team! They're up jumped slumlords!

 

[Hit the post]

I think a combination of that + installing and uninstalling the ice. Imagine doing that every day while also preparing for concerts and events.

As a side note - what happens to old Frankie if he loses the keys to the team? Isn’t owning the Canucks like his entire identity? Dude is about to have a massive midlife crisis and I am totally here for it.

He can learn the casino business like Fredo.

 

[Reverend Mayhem]

It has been suggested by some that Aqualini can't get a deal done for a practice facility because nobody wants to deal with them

A 2 billion dollar team witch nothing they can call a club house is pretty lame.

But why was this never discussed in the Sedin era ? We had the best dressing room in the league at one point.

Practice facilities I’d imagine are a relatively new concept as pro sports has grown malignantly in the economic arena. Habs have had one for awhile though IIRC

 

[StreetHawk]

Question: Why cant the Canucks practice at the rink?

Is it that busy with concerts?

A Practice Facility goes well beyond just practicing on the ice surface. That's just 1 part of it.


Michigan St. recently invested $26 mill into upgrading their facilities.

The other aspects are things like:
1) Recovery - hot tubs, saunas, ice/baths (see from 9:50 of the video)
2) Medical/Maintenance - (see from 12:30 of the video)
3) Weight room (21 minute)
4) along with rehab, video, meeting rooms, meals, lounge area, etc.

 

[tantalum]

A practice facility is a great community thing as well. I've played in the Vegas facility and it is constantly busy with tournaments (adult and youth). It's a great thing just for the out reach portion of things.

All that said I really don't think players care that much but the organization should do it nonetheless. It's a relatively cheap thing for hockey. It could be worse...the Raiders have the system where they roll in a practice surface and roll the playing surface outside in the main stadium AND they have built a $100 mil headquarters/practice facility in Henderson (they then sold the headquarters for $200 mil and are leasing it back). It's 2-3X the size of the Golden Knights facility. Hockey has it easy for training facilities.

 

[Jyrki21]

If this Paolo thing is happening, I don't see how the Canucks don't behave like a poverty franchise for at least the next few seasons?

 

[StreetHawk]

A practice facility is a great community thing as well. I've played in the Vegas facility and it is constantly busy with tournaments (adult and youth). It's a great thing just for the out reach portion of things.

All that said I really don't think players care that much but the organization should do it nonetheless. It's a relatively cheap thing for hockey. It could be worse...the Raiders have the system where they roll in a practice surface and roll the playing surface outside in the main stadium AND they have built a $100 mil headquarters/practice facility in Henderson (they then sold the headquarters for $200 mil and are leasing it back). It's 2-3X the size of the Golden Knights facility. Hockey has it easy for training facilities.

I would say that the players do care, but it's not make or break. Kids coming in from places like UND, Michigan are going to see the contrast in facilities (like in the NFL where kids coming from Alabama, Clemson, Texas A&M, etc. where the facilities are better than like half the NFL or so), it does drive in the point of how committed the team is in preparing the players and maintaining their performances.

Part of it is having the space to get what needs to be done, be it for physio, massages, acupuncture, as well as the equipment to help you with recovery like the sauna, cold baths, pool as you are rehabbing an injury, to a gym with the equipment needed to get yourself in shape. Plus all of the staff, like trainers, skills coaches, nutritionists, etc.

Does it always translate onto the ice? No. I mean, LV, like you said with the Raiders have great facilities, but the team on the field is poorly run. Long standing name brand teams like KC, Pitt, are in the bottom 1/4 of the PA report card, but that doesn't stop players from signing with them.

NHL doesn't have the meetings and film study like the NFL does, so players don't need to spend like 3 full days there watching film on the opposition, that QBs and others need to do. So, players go in and practice, and depending on the day, will do some workout, recovery, treatment, etc. Maybe eat there and chill for a bit in the lounge. Meetings aren't going to be 4 hour sessions to break down the next opponent's PP/PK and stuff.

 

[tantalum]

I would say that the players do care, but it's not make or break.

That was my intended meaning.

NHL practice facilities are a bit different as well in that many actually generate revenues by being busy outside of team use. I'm sure it's not a lot of money but likely offsets the operating costs. I can't imagine the Raiders facility gets used for anything but the Raiders at this time (I've read that in the future it might be used for high school games).

 

[StreetHawk]

That was my intended meaning.

NHL practice facilities are a bit different as well in that many actually generate revenues by being busy outside of team use. I'm sure it's not a lot of money but likely offsets the operating costs. I can't imagine the Raiders facility gets used for anything but the Raiders at this time (I've read that in the future it might be used for high school games).

NFL, they have these OTA and Voluntary workouts from the time of the draft to just before training camp. Really, only idle between the end of their season to like just before the draft of maybe 3 months. It's really an expense for the team. Jerry does tours of the Dallas facility. But, overall, not really something they let others use given the time of year football is off.

NHL facility, you can rent it out for general use from whenever the time the team doesn't need it. Like from 2pm onwards to like 11pm, leaving the mornings for the team or even rent it out from 6am to 9am, up to an hour before the players do their regular practices. Plus the off-season.

But, the weight room, locker rooms, saunas, etc. I would imagine the team keeps those private.

 

[racerjoe]

A Practice Facility goes well beyond just practicing on the ice surface. That's just 1 part of it.


Michigan St. recently invested $26 mill into upgrading their facilities.

The other aspects are things like:
1) Recovery - hot tubs, saunas, ice/baths (see from 9:50 of the video)
2) Medical/Maintenance - (see from 12:30 of the video)
3) Weight room (21 minute)
4) along with rehab, video, meeting rooms, meals, lounge area, etc.

Some of this is just such a contrast to back in the day... I remember the hyperbolic chamber, or some things under Gillis to now. Just feels like we were lapped a while ago.

 

[StreetHawk]

Some of this is just such a contrast to back in the day... I remember the hyperbolic chamber, or some things under Gillis to now. Just feels like we were lapped a while ago.

Nowadays for players and team if you aren’t on top of things you’re actually behind. No need to be like Bedard and have no fast food ever but also have to dial in the nutrition and ease off the pizza and fried chicken for healthy option. The base level for these things is much higher than it was 1-2 decades ago.

Goes for the facilities and medical and training.

 

[StreetHawk]

If this Paolo thing is happening, I don't see how the Canucks don't behave like a poverty franchise for at least the next few seasons?

At worst, I would imagine Paolo is due 25% (with father, and 2 brothers the other 75%) or he is as high as 1/3 with his 2 brothers holding the remaining 2/3.

How will they go ahead and buyout his stake in the team for the hundreds of millions for the Team and Arena if the goal is to own 100% of the team still?

Goes for other sports too whereby the owners got in 2 decades or longer ago before the valuations blew to over $1 billion per team in each league. Even some large market team owners (Chicago Bears for example) are not exactly swimming in cash outside of the team.

With the rising salary cap an other capital projects that the team needs to fund, going to be interesting on how their cash flow is going to be with this Paolo thing.

 

[Bubbles]

Some of this is just such a contrast to back in the day... I remember the hyperbolic chamber, or some things under Gillis to now. Just feels like we were lapped a while ago.

Practice facilities I’d imagine are a relatively new concept as pro sports has grown malignantly in the economic arena. Habs have had one for awhile though IIRC

Funny enough, the Canucks had a practice facility in the mid 90s, when most NHL teams didn't. For whatever reason, that agreement ended in 2010.

That kind of arrangement was more the standard around the league, so the Canucks establishing a permanent facility away from the game arena was leading-edge. And they outfitted the 8-Rinks facility to match what they had downtown.

Griffiths credited the team’s athletic trainer Larry Ashley with guiding the fitting out of the new facilities.

“Larry led the way. It was all about the best. Having the best equipment: we bought a Cybex machine and a hyperbaric chamber,” Griffiths recalled.

“The replication in those days really wasn’t that common. We had coaches offices and video rooms for the players.

“We completely supported it. Whenever we needed it, it was ours.”

Canucks keep talking practice rink, but it still seems a long way off

Arthur Griffiths certainly didn't have trouble securing a partnership OR put up the money. It really comes down to Aqua being a cheapass.

 

[StreetHawk]

Funny enough, the Canucks had a practice facility in the mid 90s, when most NHL teams didn't. For whatever reason, that agreement ended in 2010.



Canucks keep talking practice rink, but it still seems a long way off

Arthur Griffiths certainly didn't have trouble securing a partnership OR put up the money. It really comes down to Aqua being a cheapass.

With all of the Paolo stuff going on and the family appearing that they'd rather sell off other businesses in order to keep 100% of the team, who knows how the Canucks are going to be cash flow wise in the next 3-5 years. So much more off the ice stuff now with recovery, maintenance of the body, prevention that you do need to have the facilities to care for the players bodies.

 

[FilHronek Orchestra]

Hyperbolic chamber

 

[Reverend Mayhem]

Hyperbolic chamber

BARIC!

 

[racerjoe]

Hyperbolic chamber

Stupid auto correct...

 

[dwarf]

I remember when I was cheering for the Aqualini group to beat out the Gaglardi group to own the Canucks. Man did I ever have that one wrong. Dallas is what we should be aspiring to be, not the mess we have.

 

[archangel2]

I remember when I was cheering for the Aqualini group to beat out the Gaglardi group to own the Canucks. Man did I ever have that one wrong. Dallas is what we should be aspiring to be, not the mess we have.

Gaglardi had skeletons while Aqualini had politicians in his pocket. We all know going in what kind of family the entire Aqualini family were. Once he bought the team I stopped paying for tickets.

 

[StreetHawk]

Gaglardi had skeletons while Aqualini had politicians in his pocket. We all know going in what kind of family the entire Aqualini family were. Once he bought the team I stopped paying for tickets.

Sports team ownership is like housing in this city. If you got in before the massive spike, you have a tonne of equity. But, compared to the newer owners who have tens of billions of net worth who are buying into teams now, your outside cash needed to fund the other ancillary expenses will be tested.

In the NFL, there are some very long standing family ownership groups that are hard pressed to meet the NFL rules regarding guaranteed contracts in terms of being able to put that guaranteed money into escrow. A lot of NFL teams sell minority ownership in order to reduce their financial burden while still maintaining control of the team. Each team (since Denver and Bowlen, has to declare someone as the person in charge, regardless of their % ownership stake).

Will see over the next while how this sitauation within the family impacts how the Canucks operate.

 

[TruGr1t]

Patrick Johnson was on Sekeres and Price today, and said word is the Aquilini's are trying to raise $500M as a part of buying out Paolo, and could be shopping a minority stake.

 

[Jyrki21]

Patrick Johnson was on Sekeres and Price today, and said word is the Aquilini's are trying to raise $500M as a part of buying out Paolo, and could be shopping a minority stake.

New beer prices at Rogers Arena:

Domestic $1M
Premium $2M
Craft $3M