Confirmed with Link: Senators are for sale - and it’s a Gong Show

[Que]

I’m sure Kypreos would do well. Started his playing career as a high scoring forward, then made it further and had to change his game to stay in the league and became the tough guy. Moved on to the media side after his playing career and created an effective persona for himself.

He would definitely have a different view point and experience in hockey than our current leadership group. He might pair well with Dorion tbh.

 

[DaveMatthew]

On the Kypreos front, "advising" a friend on the purchase of a team doesn't mean he's at the front of the line for a major front-office role. Or that he'd even want one.

A gig like the one Kypreos has is pretty cushy. He gets paid handsomely to work 3-4 hours per day with zero stress. The guy can play 18 holes in the morning, do his show, and then be out for dinner and drinks every night in Toronto. From what I understand, he just built a huge home there and is always out and about at Raps games, TIFF, etc. Seems like he likes that lifestyle. Who wouldn't?

Not everyone would want to trade that in for 12-hour days, 80+ nights on the road and constant pressure.

 

[Gil Gunderson]

Any other Greeks for Apostolopoulos to hire? What's Chelios up to?

 

[Masked]

I mean, sure, but he's just talking about the person behind the bombastic media personality. Idk, I'm more than happy to hear he isn't an arrogant ahole off camera, I have no idea what he'd be like as an advisor on hockey matters behind the scenes, not sure his media hits give a lot of insight into that though.

I see Kypreos as more of a guy to advise on who to hire than actually in a role making hockey decisions. He's well connected in the hockey world and might have a good grasp on who the smart guys are.

Assen na yo!

 

[Joeyjoejoe]

At this point you could have just given the Reynolds group the exclusive 30 day window to negotiate with the NCC and would have had new owners sooner.

 

[aragorn]

At this point you could have just given the Reynolds group the exclusive 30 day window to negotiate with the NCC and would have had new owners sooner.

While I wish they would have, we know that they would have been accused of playing favourites.

 

[Gil Gunderson]

While I wish they would have, we know that they would have been accused of playing favourites.

They would literally have been sued.

 

[MMC]

 

[UglyPuckling]

His company, Andlauer Healthcare Group, a publicly traded company on the TSX with a current market cap of $2B, seems to suggest that he has pretty good business sense. Ultimately, people want the clout of owning an NHL team, and when you consider the growing value of NHL teams + the real estate play in Ottawa, you can understand why one would pursue this club.

Aren't a lot of the bidders planning on remaining in Kanata?

 

[MMC]

 

[Emerica]

Aren't a lot of the bidders planning on remaining in Kanata?

No. From Garrioch’s latest article:

Sources say Apostolopoulos, Andlauer, the Kimels and Sparks all want to build a new arena in the downtown area. They all may not have LeBreton Flats as the primary location because of the size of the parcel of land.

 

[BonHoonLayneCornell]

No. From Garrioch’s latest article:

Seems inconcievable to pay this price only to remain in Kanata.

 

[IpsoPostFacto]

They would literally have been sued.

I'm not sure what the 'written in stone' plans were for the way the whole thing was supposed to have been run. It's been reported that as the thing progressed, various bidders were not happy with the velocity, so apparently the stone came with an eraser.

We are told Remington said nobody was bidding as high as them. At the time 'deep pockets' Steve was wrapped up with the NFL I believe, so he was likely out at that point.

So, call Remington's bluff. Call for final best bid. Give the winner of that 30 days to close.

continue to work with other bidders in case the first does not work out. We would have been no worse off and if we trust media reports, it's doesn't seem like the bids are much higher, if at all, vs. the reported 1b + attributed to Remington.

 

[UglyPuckling]

No. From Garrioch’s latest article:

Thanks. Couldn't remember exactly what I read/heard, but I think that info was from a week or two ago (maybe even longer).

 

[DaveMatthew]

They would literally have been sued.

Sued? For what reason? This is the sale of a private business. The process can be run however the Melnyk family and NHL want, and they can sell to whoever they want.

They could have sold to someone without allowing anyone else to bid, if that's what they had wanted to do.

 

[UglyPuckling]

Seems inconcievable to pay this price only to remain in Kanata.

It didn't surprise me that the idea of remaining in Kanata was still possible. I think it boils down to $s and numbers in the end.

If they don't get the additional land from either the NCC or City, that could play into it as well.

I'm relieved to hear that the three (or four) bidders are wanting to see what can get done in a more central location though.

 

[Mingus Dew]

Sued? For what reason? This is the sale of a private business. The process can be run however the Melnyk family and NHL want, and they can sell to whoever they want.

They could have sold to someone without allowing anyone else to bid, if that's what they had wanted to do.

Depends what folks signed obviously.

But yeah granting exclusivity to a bidder does not automatically give rise to liability. Seller wasn't bound at the time (unless they signed something saying they would continue to negotiate with everyone until X date or something like that).

 

[Gil Gunderson]

Sued? For what reason? This is the sale of a private business. The process can be run however the Melnyk family and NHL want, and they can sell to whoever they want.

They could have sold to someone without allowing anyone else to bid, if that's what they had wanted to do.

GSP starting a bidding war with deadlines, leading bidders on to spending time and resources to put together a bid, meanwhile giving only one group the upper-hand.

I'm not a legal expert, but that doesn't seem like something GSP would walk out of cleanly.

 

[Nova Stutzlia]

 

[Mingus Dew]

GSP starting a bidding war with deadlines, leading bidders on to spending time and resources to put together a bid, meanwhile giving only one group the upper-hand.

I'm not a legal expert, but that doesn't seem like something GSP would walk out of cleanly.

If there's nothing in writing then at best one of the bidders makes a bad faith type claim but that's tenuous.

This is all speculative because we don't know what was signed as part of the sale process. It's possible that the seller promised to entertain and consider bids for a certain period of time or until final bids were called.

But if not then there's no claim for granting exclusivity to a preferred bidder.

 

[Gil Gunderson]

If there's nothing in writing then at best one of the bidders makes a bad faith type claim but that's tenuous.

This is all speculative because we don't know what was signed as part of the sale process. It's possible that the seller promised to entertain and consider bids for a certain period of time or until final bids were called.

But if not then there's no claim for granting exclusivity to a preferred bidder.

Fair enough. Legal stuff aside, I don't see why the NHL/GSP/Melnyks would view Remington as the preferred bidder or give them special treatment when they've already burned a bridge before in 2012 with the Coyotes. Because of a potential documentary series?

 

[DaveMatthew]

GSP starting a bidding war with deadlines, leading bidders on to spending time and resources to put together a bid, meanwhile giving only one group the upper-hand.

I'm not a legal expert, but that doesn't seem like something GSP would walk out of cleanly.

Upper-hand?

Remington asked to be named the preferred bidder but wanted to include a condition - the ability to walk away if they weren't able to work things out to their liking with the NCC and/or city within 30 days.

This could have been granted to them, or any other group, without a problem.

GSP declined because they didn't want to risk naming a preferred bidder only to watch them walk away 2 weeks later. Which is fair.

If Remington was bidding significantly more than any other group, maybe it would have been worth the risk for GSP/the Melnyk family. But that doesn't seem to have been the case.

I'd imagine that the remaining 3 groups are seeking their own conditions as part of their bid, and those would be part of the current negotiations.

 

[BonHoonLayneCornell]

It didn't surprise me that the idea of remaining in Kanata was still possible. I think it boils down to $s and numbers in the end.

If they don't get the additional land from either the NCC or City, that could play into it as well.

I'm relieved to hear that the three (or four) bidders are wanting to see what can get done in a more central location though.

Ya, I don't find it surprising that the idea could be on the table, I would just think it would impact the price. Kanata is always going to be a struggle.

 

[Silencio]

Conspiracy time:

Neko Sparks is an actor hired by Pierre Dorion to drag out the sales process long enough so that the eventual new owners don't have time to replace Dorion and DJ before the season starts.

 

[Neil Patrick Harris]

I'll see your conspiracy and raise you another: Neko Sparks is on this forum right now. Any one of you could be Neko Sparks, and we'd be none the wiser.