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

[Hockeysawks]

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.

Everyone signed NDA's it's probably clickbait

 

[DaveMatthew]

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.

This process has gone on longer than expected though, so it is abnormal. "Billion dollar deal with lots of moving parts". Sure. But the Commanders sale was bigger, more complex, and was completed sooner. The Penguins had a new owner before anyone even realized they were for sale.

After the many years of ownership distraction in this market, no one can be surprised that the fanbase is incredibly ancy to just move on, and are skeptical of any prospective owners who are clouded by legitimate, unanswered questions.

 

[Do Make Say Think]

This process has gone on longer than expected though, so it is abnormal. "Billion dollar deal with lots of moving parts". Sure.

But the Commanders sale was bigger, more complex, and was completed sooner.

After the many years of ownership distraction in this market, no one can be surprised that the fanbase is incredibly ancy to just move on.

Agreed that I wasn't thinking it would take this long to and I'm as eager as anyone to get this over with.

I'm just not going to qualify the process as a gongshow, implying it is a disaster, because of it.

We could find out tomorrow that the sale is complete, not just a preferred bidder picked. I have to hope that the process taking this long implies that something is brewing?

 

[Flamingo]

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?

There's the flutter of contradictory reports and the uncertain interpretation of the description of the process. Plus, one bidder publically trying to boost their bid beyond the deadline.

Sure, we're not in on the process. But Nick Kypreos saying that the process is very professional and thorough doesn't assuage my anxiety over the rest of the uncertainty. Of course I'm going to pick apart the motivations of guys like Andlauer to guess whether he'd merge with another bidder to compete with a big-dollar competitor when he already has a minority share in an original-six team. I'm going to speculate over what keeps the Sparks deal alive and kicking if their composition seems to counter the NHL's preference for small ownership group that keeps a low public profile. And Astropolopoulos (sp?) -- what's his motivation? What NHL relationships does he have?

Bettman's preference for a buttoned-down image is kind of fraying here, even if it's the doing of media so hungry for any kind of byline that they are reading tea leaves. Why aren't they ironing out the wrinkles in public perception?

 

[Tnuoc Alucard]

This process has gone on longer than expected though, so it is abnormal. "Billion dollar deal with lots of moving parts". Sure. But the Commanders sale was bigger, more complex, and was completed sooner. The Penguins had a new owner before anyone even realized they were for sale.

After the many years of ownership distraction in this market, no one can be surprised that the fanbase is incredibly ancy to just move on, and are skeptical of any prospective owners who are clouded by legitimate, unanswered questions.

The Penguins have kinda been “for sale” since 2015, from what I’ve read…. and really can’t find anything that states the franchise was for sale on a certain date.

But different circumstances I guess, if there are behind the scenes talk that for the right price the Penguins were available….. and the Sens having their owner pass on, and his daughters pretty much hanging the for sale sign out for everyone to see.

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[Loach]

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.

This fanbase has been through alot, that could be part of it. It's never just hockey. There is always something else to it. Example: drafting. We can't just talk about the players. The something else is we don't have many scouts, analytics isn't really used, we don't have better people doing the job, small budget. I get what you're saying, it just seems that half the base has Stockholm syndrome and the other has ptsd....and all we want is something to cheer for that isn't f***ed up in some bizarre way.

 

[Speatleysson]

Everyone signed NDA's it's probably clickbait

Pretty much this... when you have nothing to report on, claim that you've heard some rumblings, but that you can't disclose what it is yet because you aren't 100% sure if it is accurate news.

 

[DaveMatthew]

Pretty much this... when you have nothing to report on, claim that you've heard some rumblings, but that you can't disclose what it is yet because you aren't 100% sure if it is accurate news.

An NDA wouldn't preclude anyone from leaking "general" thoughts about the process. (i.e. things have gotten unprofessional and people are frustrated). It'd only preclude anyone from leaking specifics about bids (i.e. offer, structure, any investors involved and amounts invested, etc).

 

[Speatleysson]

An NDA wouldn't preclude anyone from leaking "general" thoughts about the process. (i.e. things have gotten unprofessional and people are frustrated). It'd only preclude anyone from leaking specifics about bids (i.e. offer, structure, any investors involved and amounts invested, etc).

This is absolutely true. I just don't see the benefit for anyone to be leaking anything to these reporters. It's not up to the court of public opinion to select the winning bid.

 

[Do Make Say Think]

Why aren't they ironing out the wrinkles in public perception?

Because NHL teams are not public companies, public perception of the process does not matter.

 

[Flamingo]

Because NHL teams are not public companies, public perception of the process does not matter.

I believe it matters to Gary Bettman.

 

[Do Make Say Think]

An NDA wouldn't preclude anyone from leaking "general" thoughts about the process. (i.e. things have gotten unprofessional and people are frustrated). It'd only preclude anyone from leaking specifics about bids (i.e. offer, structure, any investors involved and amounts invested, etc).

If you want to buy the team then you don't skirt the NDA to play in the media.

These are private businesses, the public perception of the sales process doesn't matter.

I believe it matters to Gary Bettman.

Bettman does care about public perception when it matters and it often does.

It just doesn't matter here, during the sale of a private business.

 

[Golden_Jet]

I believe it matters to Gary Bettman.

Yes , also the NDA matters.

 

[DaveMatthew]

If you want to buy the team then you don't skirt the NDA to play in the media.

These are private businesses, the public perception of the sales process doesn't matter.


Bettman does care about public perception when it matters and it often does.

It just doesn't matter here, during the sale of a private business.

You're right, public perception in this situation doesn't really matter. It'll get done when it gets done and the owner will be the new owner. Everyone involved will make a lot of money. The Senators may become a winning organization, or they may not. Who knows!

With that said, "leaks" don't have to be, and usually aren't, made as some sort of strategic calculation or move with an ulterior purpose.

Guys like Friedman know a lot of people. They call and text them. See them for drinks and dinner. They have relationships. Those people talk and vent, because that's what people at any job working on any project do – talk and vent. Guys like Friedman than summarize and report it as things they're "hearing".

I don't think it's some chess game. It's just a bunch of people doing a job and talking about the job.

 

[Ice-Tray]

If you want to buy the team then you don't skirt the NDA to play in the media.

These are private businesses, the public perception of the sales process doesn't matter.


Bettman does care about public perception when it matters and it often does.

It just doesn't matter here, during the sale of a private business.

There are people in the room who would be fine to tell a friend “this process has gotten nutty”.

Sparks has been battling on Twitter with fans, and after deadlines being announced, for some reason they seem to be ignored, or perhaps misunderstood by the fanbase. Either way, the process certainly hasn’t been unfolding in a quiet and ‘by the timeline’ manner.

We have also lost the preferred part owner, and seem to be getting inundated with celebrity ads ins who don’t know and don’t care about Ottawa or the senators.

The process has gotten janky for those of us just watching, let alone to those more actively posting and venting.

The serious bidders, and the league, can’t be happy with the way this is unfolding publicly, that’s for sure.

It will get done, but like a celebrity court case gets ‘done’, it’s been an embarrassing circus up to this point thanks to the…. Celebrity involvement.

 

[Golden_Jet]

Guys like Friedman know a lot of people. They call and text them. See them for drinks and dinner. Those people talk and vent, because that's what people at any job working on any project do – talk and vent. Guys like Friedman than summarize and report it as things they're "hearing".

I don't think it's some chess game.

Ya you have to be careful with Freidman, as he always says, I think, I believe, a lot.

 

[coladin]

This process has gone on longer than expected though, so it is abnormal. "Billion dollar deal with lots of moving parts". Sure. But the Commanders sale was bigger, more complex, and was completed sooner. The Penguins had a new owner before anyone even realized they were for sale.

After the many years of ownership distraction in this market, no one can be surprised that the fanbase is incredibly ancy to just move on, and are skeptical of any prospective owners who are clouded by legitimate, unanswered questions.

I don't think it is abnormal at all. There are four bids and they all want it. I am completely fine with this timeline if it ensures the Senators get the best possible owner. The only thing that can extend the sale is possibly when new moving parts are coming in and forces more vetting and check and balances.

Or a bidding war

 

[Flamingo]

If you want to buy the team then you don't skirt the NDA to play in the media.

These are private businesses, the public perception of the sales process doesn't matter.


Bettman does care about public perception when it matters and it often does.

It just doesn't matter here, during the sale of a private business.

Bettman cares to protect the image of the NHL as a sound business with collegial relationships, predictable revenue, and steady valuation. The noise coming out of this bidding process challenges that image in a way that has us guessing what's churning under the surface.

Is it a clown show? Are bidders getting frustrated? There's lots to chew on, there's no reason to tell everyone to sit on their hands here.

 

[Mingus Dew]

An NDA wouldn't preclude anyone from leaking "general" thoughts about the process. (i.e. things have gotten unprofessional and people are frustrated). It'd only preclude anyone from leaking specifics about bids (i.e. offer, structure, any investors involved and amounts invested, etc).

NDA can preclude whatever the parties want it to.

Sometimes your prohibit someone from even acknowledging that they are in the process.

Leaks happen regardless though. NDAs are more about the fear of God.

 

[Ice-Tray]

NDA can preclude whatever the parties want it to.

Sometimes your prohibit someone from even acknowledging that they are in the process.

Leaks happen regardless though. NDAs are more about the fear of God.

Yup. The only way to limit leaks is to limit the number of people involved. Clearly this isn’t possible in this situation.

Given how this is playing out in the media, some leaks are clearly an important part of shaping the public narrative.

That and whatever Sparks is doing on social media.

 

[Beech]

if you search on here as recently as 2020.. you would have seen numbers along the line of
team value ~ 550-600 Million
team debt ~ 200 million
after covid team debt became a staggering 300 million.
in that time frame (2020) team revenue was around 125 million

all these numbers were debated by us and in many instances articles and links were provided to substantiate

so in 2022 (mid summer)
team value ~ 600 Million
team debt ~ 300 million
team revenue ~ 110 million....would probably become 130 M since attendance rose in 2022/2023...would probably become 140 M since gambling has increased

How 10 bidders jump in? How did sell price become 850-900 M? How did things spiral upwards so wonderfully?

BULLSHITT...... Real-estate schemes.... wanting the government to pick up the tab.... EDMONTON style... or US style where governments build arenas for teams..

The hope is/was, ditto for here... suddenly a line up of carpet baggers... bid 1 B (Canadian), develop a new arena at 1 b (Canadian). Get the government to pick up the tab for 500-600 M and then commit to leases and long term rentals for million per year...

Only reality is hitting.... the Feds, Province and city are not committing... no cheque cuttings, no lease commitments...

suddenly with no 500-600 M in cash coming and a solid 20-50 M a year in guaranteed leases and rentals... the Sens return to being a 600 M team. And Lebreton becomes a 1 B white elephant.

Why do you think Hollywood boy wanted his 1 month exclusive time to work on Lebreton... he wanted 500-600 M and leases promised and guaranteed. He was no dummy.

 

[Golden_Jet]

An NDA wouldn't preclude anyone from leaking "general" thoughts about the process. (i.e. things have gotten unprofessional and people are frustrated). It'd only preclude anyone from leaking specifics about bids (i.e. offer, structure, any investors involved and amounts invested, etc).

NDAs are all different, unless you’ve read it, it’s just speculating, what’s in it.

 

[Golden_Jet]

if you search on here as recently as 2020.. you would have seen numbers along the line of
team value ~ 550-600 Million
team debt ~ 200 million
after covid team debt became a staggering 300 million.
in that time frame (2020) team revenue was around 125 million

all these numbers were debated by us and in many instances articles and links were provided to substantiate

so in 2022 (mid summer)
team value ~ 600 Million
team debt ~ 300 million
team revenue ~ 110 million....would probably become 130 M since attendance rose in 2022/2023...would probably become 140 M since gambling has increased

How 10 bidders jump in? How did sell price become 850-900 M? How did things spiral upwards so wonderfully?

BULLSHITT...... Real-estate schemes.... wanting the government to pick up the tab.... EDMONTON style... or US style where governments build arenas for teams..

The hope is/was, ditto for here... suddenly a line up of carpet baggers... bid 1 B (Canadian), develop a new arena at 1 b (Canadian). Get the government to pick up the tab for 500-600 M and then commit to leases and long term rentals for million per year...

Only reality is hitting.... the Feds, Province and city are not committing... no cheque cuttings, no lease commitments...

suddenly with no 500-600 M in cash coming and a solid 20-50 M a year in guaranteed leases and rentals... the Sens return to being a 600 M team. And Lebreton becomes a 1 B white elephant.

Why do you think Hollywood boy wanted his 1 month exclusive time to work on Lebreton... he wanted 500-600 M and leases promised and guaranteed. He was no dummy.

We don’t know what team debt is. As reports are all over the map between 200-350 million CDN.
Bids are in US dollars not CDN dollars.

 

[DaveMatthew]

NDAs are all different, unless you’ve read it, it’s just speculating, what’s in it.

Sure. But the stuff that's being reported is all general, background.

Friedman: "How's the process going?"
Source: "Kind of a mess. Everyone is frustrated."

Good luck enforcing an NDA with those types of "leaks".

Enforcing an NDA in a court of law is actually incredibly difficult. It's much more of a scare tactic used by corporations. Unless it can be proven that you've revealed precise, specific, tangible information (or trade secrets). An NDA cannot be broad. Saying you're frustrated by a situation would never be a breach.

 

[Gil Gunderson]

By the way, Ian Mendes and I'm pretty sure Bruce already reported that the bidders were getting frustrated like a month ago.