Kirk Van Houten
Registered User
- May 7, 2019
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Ottawa Senators for sale (upd: sold to Michael Andlauer)
- Thread starter DaveMatthew
- Start date
GKJ
Global Moderator
- Feb 27, 2002
- 193,390
- 43,676
This has to be the most interesting, I don’t know what you call this, race to own a team we’ve seen.
Ryan Reynolds and Remington seem to have a plan specifically for Ottawa. Snoop sounds like he just wants to own a team. There seems to be room for both in the league.
Ryan Reynolds and Remington seem to have a plan specifically for Ottawa. Snoop sounds like he just wants to own a team. There seems to be room for both in the league.
TheLegend
"Just say it 3 times..."
ponder719
M-M-M-Matvei and the Jett
I wonder if there's a chance of the league solving two problems at once by engineering the sale of Andrew Barroway's minority stake in the Coyotes to Snoop. Get rid of Barroway, get Snoop into the league in a way that probably fits his budget well and lets him have a good base from which to start his youth hockey league.
Kirk Van Houten
Registered User
- May 7, 2019
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If I'm the NHL I figure a way to get both ownership groups as a part of the league especially the one with Snoop as it is a good move to further diversity (which it really needs).
Channelcat
Unhinged user
Word is out! Sports franchises have been a good investment. Now everyone and their grandma wants in at the top of the market. Just like gold, Bitcoin etc. Same effect.
MMC
Global Moderator
MMC
Global Moderator
Golden_Jet
Registered User
- Sep 21, 2005
- 26,362
- 13,673
EXCLUSIVE: THE OTTAWA SENATRS? The Weeknd latest superstar to join bid for the Ottawa Senators
Stay tuned — the hits on the sale of the Ottawa Senators just keep on coming.
ottawasun.com
Gil Gunderson
Registered User
MMC
Global Moderator
LadyStanley
Registered User
LadyStanley
Registered User
Nordskull
WAITING FOR NORDS
Saviour not runnin anymore. He needed exclusivity to negotiate etc.
As for Snoop dog, remember the Pastor episode of the Coyotes saga?
Ha yeah, buyers must keep team in Ottawa. Youre all fine guys.
As for Snoop dog, remember the Pastor episode of the Coyotes saga?
Ha yeah, buyers must keep team in Ottawa. Youre all fine guys.
Gil Gunderson
Registered User
Quebec isn’t getting a team lol
TheLegend
"Just say it 3 times..."
PlayersLtd
Registered User
- Mar 6, 2019
- 1,472
- 1,831
Coles notes on what in fact could be transpiring in Ottawa:
The value of the team is being inflated by the promise of exclusive negotiating rights to build an arena on a prime piece of land owned by the National Capital Commission (NCC), a federal government body that owns and manages a massive portfolio of land around the National Capital Region (Ottawa).
As the $1B cheque was about to be written the Remington Group (Ryan Reynolds' sugar daddy) got cold feet about the value of this promise (specifically called the Preferred Bidder Status) because A/ The NCC is notoriously difficult to work with and B/ The lease and development terms are not clear enough to garner confidence that any project will be smooth, or have the requisite financial upside.
As such, the inflated value of the team is hinged on a parcel of land that doesn't come with any guarantee, assurance or any real financial edge to speak of, or at least not anything tangible at this point in the game. In other words, there is too much risk in the real estate play to justify the elevated cost of the franchise.
The Remington Group tried to mitigate this risk by getting a negotiation window with the NCC. Galatioto Sports Partners and the Senators said no. Remington et al. called BS and pulled the plug.
I can't imagine the other groups will move forward without a similar level of concern. The price tag is just too high and it is high because of the mirage that is the Lebreton Flats 'deal'.
Why this is all coming to a head now is the odd part. I would suspect that there was a request for negotiating rights a long time ago and hope was held out until the 11th hour. If the NCC extended an olive branch during the process and assured bidders that they would make great partners than I don't think we would be here. Instead they made a few statements that didn't count for much and it appears like they might end up sleeping alone on prom night.
Bids are binding on the 15th of May. The remaining groups may hold out until the last minute in the hopes that they are the last ones standing and submit a lower bid than the figures that are being rumoured. If so this will be a gross miscalculation on the part of the Ottawa Senators. Had they gone down the path of getting permits or at least more than just an MOU with the NCC (or 'Preferred Bidder Status') then they would have had tangible value in the real estate play. Instead they seem to have pegged the value on a weak agreement with a terrible development partner who stood idly by and it's backfiring.
Just my thoughts and for a SENS fan this appears to be a really sh1tty situation. We will know soon though.
The value of the team is being inflated by the promise of exclusive negotiating rights to build an arena on a prime piece of land owned by the National Capital Commission (NCC), a federal government body that owns and manages a massive portfolio of land around the National Capital Region (Ottawa).
As the $1B cheque was about to be written the Remington Group (Ryan Reynolds' sugar daddy) got cold feet about the value of this promise (specifically called the Preferred Bidder Status) because A/ The NCC is notoriously difficult to work with and B/ The lease and development terms are not clear enough to garner confidence that any project will be smooth, or have the requisite financial upside.
As such, the inflated value of the team is hinged on a parcel of land that doesn't come with any guarantee, assurance or any real financial edge to speak of, or at least not anything tangible at this point in the game. In other words, there is too much risk in the real estate play to justify the elevated cost of the franchise.
The Remington Group tried to mitigate this risk by getting a negotiation window with the NCC. Galatioto Sports Partners and the Senators said no. Remington et al. called BS and pulled the plug.
I can't imagine the other groups will move forward without a similar level of concern. The price tag is just too high and it is high because of the mirage that is the Lebreton Flats 'deal'.
Why this is all coming to a head now is the odd part. I would suspect that there was a request for negotiating rights a long time ago and hope was held out until the 11th hour. If the NCC extended an olive branch during the process and assured bidders that they would make great partners than I don't think we would be here. Instead they made a few statements that didn't count for much and it appears like they might end up sleeping alone on prom night.
Bids are binding on the 15th of May. The remaining groups may hold out until the last minute in the hopes that they are the last ones standing and submit a lower bid than the figures that are being rumoured. If so this will be a gross miscalculation on the part of the Ottawa Senators. Had they gone down the path of getting permits or at least more than just an MOU with the NCC (or 'Preferred Bidder Status') then they would have had tangible value in the real estate play. Instead they seem to have pegged the value on a weak agreement with a terrible development partner who stood idly by and it's backfiring.
Just my thoughts and for a SENS fan this appears to be a really sh1tty situation. We will know soon though.
Nordskull
WAITING FOR NORDS
Under the current situation (meaning no sellouts, unsure venue, small market) I'd say any price over 500M is pure fantasy. It will be no surprise no one bids uneder the current parameters.
PlayersLtd
Registered User
- Mar 6, 2019
- 1,472
- 1,831
Swing and a miss... I guess you're not aware that the team comes with a + - $150M land asset out in Kanata eh?
Is that land and building included in the price of the team? Pitt and nash didn’t own their buildings and went for around $900 mill.
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