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

[Mingus Dew]

I think many are not grasping the complexity of a massive sale like this and that it takes a lot more time than you think

The sale will happen we just need to chill until we find out who the winner is

Deals of this size and complexity happen all the time tbh. They definitely require a lot of work but it’s not some novel thing. This acquisition is actually fairly straightforward in that you’re looking at one real revenue stream - the development piece is more complex.

The thing is we’re not talking about closing the deal which for sure takes a lot of time. We haven’t even had a buyer selected yet lol. This is like the first part of the process.

 

[Joeyjoejoe]

Wouldn’t surprise me that they select a winner and try to close it in the next months only for the deal to fall through and have to come back to other bidders in September or October.

 

[Big Muddy]

I think many are not grasping the complexity of a massive sale like this and that it takes a lot more time than you think

The sale will happen we just need to chill until we find out who the winner is

Yes, there's nothing that you can do but sit back and wait.

Got to think they will need to set up a transition group soon IF a winning bid is announced somewhat later (into June). There's things that need to get done with the pending draft and trade deadline coming up soon. It looks like Dorion is carrying on with his GM duties in the meantime though.

I think you have to wonder how long it would take to get shovels into the ground to start the building of the new arena. I could see this being a lengthy process quite easily.

 

[Big Muddy]

Deals of this size and complexity happen all the time tbh. They definitely require a lot of work but it’s not some novel thing. This acquisition is actually fairly straightforward in that you’re looking at one real revenue stream - the development piece is more complex.

The thing is we’re not talking about closing the deal which for sure takes a lot of time. We haven’t even had a buyer selected yet lol. This is like the first part of the process.

I'd be interested in seeing the bid documents that were generated by GSP assuming there were documents.

The whole land/real estate part of this seems murky. Is it just the small parcel of land identified by the NCC which is only large enough for an arena? Maybe they told bidders to base the bid on that small parcel of land?

If that part of the process is not well defined, that could explain delays. Bidders will definitely want to know exactly what they are winning and getting if they win. Got to think or perhaps hope this has been well defined and nailed down, but you never know I suppose. The way or fact that the Remington group pulled out while citing a negotiation period to focus on the land acquisition part makes you wonder.

There's an expression: A problem well defined is a problem half solved. If there's no crisp definition of this aspect, its pretty easy to understand why the process would get bogged down and delayed.

If you've ever been on the side of having to establish a firm fixed price for a bunch of nebulous requirements, you'll understand the perspective that I am referring to in this post. This happens frequently.

 

[RickyLafleur]

Do you have something against rich men? Is there something wrong with being rich, or a man?




is it possible that you’re a Misandrist?

​

By the way I don’t defend anyone, simply, in your case, am just pointing out your hate motivated post (earlier) that you spun about the sale of the Senators taking so long, and by your hate fired warped logic, dumping the blame on the Melnyk sisters…. who contracted out the sale to GSP.

Comments like this are truly hysterical. No idea why your simping for a dead billionaire that everyone around here hated.

 

[Sens of Anarchy]

 

[Philadelphia Collins]

Pretty sick this sale is gonna take until after every competent coach and GM are already hired and we’re stuck with another Dorion and DJ season where the team is 5 games below .500 by mid-November

Totally normal process

 

[Golden_Jet]

Yes, there's nothing that you can do but sit back and wait.

Got to think they will need to set up a transition group soon IF a winning bid is announced somewhat later (into June). There's things that need to get done with the pending draft and trade deadline coming up soon. It looks like Dorion is carrying on with his GM duties in the meantime though.

I think you have to wonder how long it would take to get shovels into the ground to start the building of the new arena. I could see this being a lengthy process quite easily.

Shovels, if happens would be 2 year’s minimum I’d say.

 

[DueDiligence]

Wouldn’t surprise me that they select a winner and try to close it in the next months only for the deal to fall through and have to come back to other bidders in September or October.

Won't happen. The deal once made, will go through just fine.

 

[Joeyjoejoe]

Do you have something against rich men? Is there something wrong with being rich, or a man?




is it possible that you’re a Misandrist?

​

By the way I don’t defend anyone, simply, in your case, am just pointing out your hate motivated post (earlier) that you spun about the sale of the Senators taking so long, and by your hate fired warped logic, dumping the blame on the Melnyk sisters…. who contracted out the sale to GSP.

This is some unhinged shit right here. Melnyk ain't gonna f*** you dude if he sees this boot licking you been putting in for the past couple of years.

 

[Hockeysawks]

If I had to guess, it had nothing to do with the BoG.

My guess is GSP advised that the risk was too great since if they gave the exclusive window to negotiate a land deal and those negotiations failed, it could tank the value.

If they negotiate before buying a team then a private group is using the NHL trademark for what could appear to be shady deals, it also might give one group a better chance to buy a team based on who they known with a land deal made behind closed doors allowing the NCC to basically "pick" the buyer
The optics are bad, they sell first then any deals made are beetween a private company that owns a team and the NCC not the NHL and the NCC

 

[Do Make Say Think]

Some of you are really weird.

Does anyone here except Mingus have any direct experience in dealing with this kind of stuff? I confidently believe the answer is no.

This will take the time it will take. I have no idea where some of you get the balls to confidently act as if the whole thing has gone off the rails because it is taking time.

I am cynical as hell but I also know we don't know much of anything for sure so why assume it is a gong show? Because the Sparks chap is campaigning on Twitter? Who the hell f***ing cares about Twitter, it isn't a serious place.

 

[DaveMatthew]

Some of you are really weird.

Does anyone here except Mingus have any direct experience in dealing with this kind of stuff? I confidently believe the answer is no.

This will take the time it will take. I have no idea where some of you get the balls to confidently act as if the whole thing has gone off the rails because it is taking time.

I am cynical as hell but I also know we don't know much of anything for sure so why assume it is a gong show? Because the Sparks chap is campaigning on Twitter? Who the hell f***ing cares about Twitter, it isn't a serious place.

I mean... in the last couple of days Elliotte Friedman and Frank Seravalli, two "insiders" paid to dig into what's going on behind the scenes, have come out and said that it's gone off the rails. Friedman insinuated that it could get uglier after a bidder is selected.

So that's where some have gotten the "balls" to act like it has.

 

[Wondercarrot]

Do you have something against rich men? Is there something wrong with being rich, or a man?

is it possible that you’re a Misandrist?

​

By the way I don’t defend anyone, simply, in your case, am just pointing out your hate motivated post (earlier) that you spun about the sale of the Senators taking so long, and by your hate fired warped logic, dumping the blame on the Melnyk sisters…. who contracted out the sale to GSP.

He said rich ENTITLED men which you conveniently left out so it would seem it’s the entitlement in combination with the other two attributes that makes the character loathsome.

Is it possible you are a white knight for rich entitled men?

 

[ColinM]

So to make matters more interesting a new Major Junior arena is under consideration while this sale process goes on:

https://www.cbc.ca/news/canada/ottawa/landsdowne-hockey-arena-development-1.6854698

For the life of me I don't get why the junior team can't share with the NHL team like they do in Calgary.

 

[Do Make Say Think]

I mean... in the last couple of days Elliotte Friedman and Frank Seravalli, two "insiders" paid to dig into what's going on behind the scenes, have come out and said that it's gone off the rails. Friedman insinuated that it could get uglier after a bidder is selected.

So that's where some have gotten the "balls" to act like it has.

They are sports reporters and this is big business stuff. I don't think they lack credibility but I also think this is way out of their arena.

Granted, I don't think it would be reasonable to assume everything is fine either but this taking time doesn't mean it is a gong show either.

Benji said he was shocked and now Mendez also echo'd that sentiment. Something is brewing and whatever it is has gotten a lot of time and money put into it, let's find out what it is and then decide if it was a gong show.

 

[DaveMatthew]

They are sports reporters and this is big business stuff. I don't think they lack credibility but I also think this is way out of their arena.

Granted, I don't think it would be reasonable to assume everything is fine either but this taking time doesn't mean it is a gong show either.

Benji said he was shocked and now Mendez also echo'd that sentiment. Something is brewing and whatever it is has gotten a lot of time and money put into it, let's find out what it is and then decide if it was a gong show.

The thing is, "big business stuff" is often a gong show. So it wouldn't be surprising if this has turned into that as well.

The sale of the Washington Commanders had many gong show elements. Heck, you even had a "fake" bid, just like some think there is one here.

I recently worked at a company that entered an agreement to be acquired by another company, but it was quickly revealed that the two CEO's were buddies and didn't engage in a proper sales/acquisition process. Several activist investors sounded the alarm, lawsuits were launched, the deal was voted down by shareholders from both companies after a 6 month ordeal, and both CEOs were ousted. The market cap of one company dropped ~40% while the other was acquired a year later for less than half of the previous offer.

People often make the mistake of thinking that because there are highly paid executives, bankers and consultants involved, things are always well-organized, professional and above board.

 

[Tnuoc Alucard]

Comments like this are truly hysterical. No idea why your simping for a dead billionaire that everyone around here hated.

did you mean you are (you’re) simping?


Also “everyone” around here did not Hate the former owner.

Don’t be so presumptive as to speak for “everyone“….. but at least you admit you hated him, as for myself I tolerated him, and perhaps gave him the benefit of the doubt on occasion and at times said he was his own worst enemy.

 

[PlayersLtd]

They are sports reporters and this is big business stuff. I don't think they lack credibility but I also think this is way out of their arena.

Granted, I don't think it would be reasonable to assume everything is fine either but this taking time doesn't mean it is a gong show either.

Benji said he was shocked and now Mendez also echo'd that sentiment. Something is brewing and whatever it is has gotten a lot of time and money put into it, let's find out what it is and then decide if it was a gong show.

It costs a lot of money to turn the lights on for a 18,000 seat arena vs a 7,000. Multiply that over the lifespan of the arena, add in the lost revenue by not having a small arena for smaller events or due to scheduling conflicts and it adds up pretty quickly.

On top of that, and most importantly, if you're an owner of a franchise, Jr. or other, you need control of your own building in general to be economically viable.

And then there's the whole land value factor. Find a way to cover your costs on your own land and watch the value of said land go up + - 10x every year that you own it. If the land is worth $20M and your team covers your costs to the tune of $500k every year that's like putting $500k into your own pocket (minus interest) + appreciation.

In 40 years you've paid down your land and have an asset worth exponentially more than you paid for it. Subtract inflation rates and you have one of the most profitable investments you can ever make.

Winnipeg is getting (got?) a new Jr. arena and thats pretty much all the proof you need that sharing is not ideal for the smaller team in the equation.

 

[Flamingo]

Hockey players are professional athletes, and know how to train and compete. I will refrain from commenting on their performance or worth to my team, I’m not a pro. I will just applaud when they win and buy a team sweater.

 

[Tnuoc Alucard]

This is some unhinged shit right here. Melnyk ain't gonna f*** you dude if he sees this boot licking you been putting in for the past couple of years.

How does in anyway address what I posted?

Perhaps you agree with the Melnyk hating poster, who spins everything they can, to lay the blame at the deceased owner, and now his daughter.

 

[Do Make Say Think]

The thing is, "big business stuff" is often a gong show. So it wouldn't be surprising if this has turned into that as well.

The sale of the Washington Commanders had many gong show elements. Heck, you even had a "fake" bid, just like some think there is one here.

I recently worked at a company that entered an agreement to be acquired by another company, but it was quickly revealed that the two CEO's were buddies and didn't engage in a proper sales/acquisition process. Several activist investors sounded the alarm, lawsuits were launched, the deal was voted down by shareholders from both companies after a 6 month ordeal, and both CEOs were ousted. The market cap of one company dropped ~40% while the other was acquired a year later for less than half of the previous offer.

People often make the mistake of thinking that because there are highly paid executives, bankers and consultants involved, things are always well-organized, professional and above board.

I don't mean to imply everything is definitely fine, I don't trust big business whatsoever. While it isn't private or quite the same scale of dollars, I work for Parliament and I am well aware of how powerful executives behave (so much drama, so little work getting done).

I take exception to a lot of users on here who seem to act as if they are entitled to a speedy resolution of the process and that because it isn't quick, it means it is a disaster.

We just don't know. The only thing I'm confident about is Benji said June 1st we'd find out something and that he was shocked, everything else that finds its way to us is white noise.

Then you have people who here who are also taking shots at Mendez because they don't like what he reports? We all loved him when he challenged Dorion and Melnyk but now that he seems to imply that Sparks is legit/still in it, he's a hack?

Like I said before, this fanbase, for how tiny it is, can get incredibly toxic.

 

[Tnuoc Alucard]

He said rich ENTITLED men which you conveniently left out so it would seem it’s the entitlement in combination with the other two attributes that makes the character loathsome.

Is it possible you are a white knight for rich entitled men?

define what you mean by entitled, and why you attach such a negative connotation to it.

I know you’re entitled to your opinion as much as anyone else.

pretty much every owner of a pro sports team, by virtue of owning the team is entitled to operate their franchise as they want…. Explain why being entitled is such negative to you.

 

[Do Make Say Think]

Hockey players are professional athletes, and know how to train and compete. I will refrain from commenting on their performance or worth to my team, I’m not a pro. I will just applaud when they win and buy a team sweater.

Evaluating performance means you have results or a process to base yourself off of.

We have nothing to evaluate the process of the sale of the team. Once we have details, we'll be able to evaluate. That's what I'm saying.

It may end up that it was a total gongshow but it taking time, on its own, doesn't guarantee that that is what is happening.

If we find out tomorrow the team was sold to two groups who partnered up (say the Greek fellow and the Kimel bros.), isn't that great for us as fans? So what if it took a while to get there?

 

[Masked]

So to make matters more interesting a new Major Junior arena is under consideration while this sale process goes on:

https://www.cbc.ca/news/canada/ottawa/landsdowne-hockey-arena-development-1.6854698

For the life of me I don't get why the junior team can't share with the NHL team like they do in Calgary.

The local developers run this city.

Building a new junior rink, and having the city pay for a big portion of it, is just idiotic especially considering the location which isn't great to access by car or LRT.

Assen na yo!