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

[pt_mck]

I have $22.15 in canadian tire money in paper and $38 in triangle rewards.

 

[Tap on the Ankle]

Excited for what the future holds with this development and Lebreton but also a bit sad we won't have the hottest owners in the league anymore.

 

[DaveMatthew]

Everyone knows this team will be sold in the near future, with the exception of a small group of posters who think the CTC has to go up on Realtor.com for it to be true.

Tough time to sell a team though. Valuations of all businesses across the board have taken a hit, and likely will for the coming months.

 

[Joeyjoejoe]

I am thinking $800M if it gets sold.

 

[sennysensen]

Are both groups that wanted to buy the Sens 5-6 years ago still interested? Both the Desmarais group and the OSEG group? They wanted to buy the 1st time the Lebreton arena deal was made.

 

[Union2017]

We Thought it was going to be Paul Anka, and it ends up being Justin Beider.

I want Red Hot Chili Peppers to buy us and then we can play "Give it away" every time Zaitsev turns the puck over. And when he is paired with Brannstrom they can play Under the Bridge opening line to Branny: "sometimes I feel like I don't have a partner, sometimes I feel like I'm all alone". So many good songs that we can use for free.

 

[slamigo]

Now Brucie is floating the rumour. Must be something to it or else he also just wants to piggyback off the traffic.

 

[KnuckChuckinTkachuk]

750 mil, final offer.

 

[Do Make Say Think]

Garrioch is just saying his overlords want more than the estimate.

Nothing surprising there.

 

[Berri UQAM]

There's an important distinction to be made here. The Sportico article theorizes that they'll be the next team to be sold, but clearly has factual evidence to support that the team has consulted sell-side bankers. The speculation is that the Sens will be the next team to sell, not that the team is for sale.

I don't see that Westhead's reporting here is anything other than correct based on the details in the piece.

Thanks. I was having a hard time understanding where Westhead is getting his information. I appreciate this info.

At the risk of splitting hairs, I am not sure that a consultation with sell-side bankers is a sure-fire indication that the team is for sale, but it certainly suggests that the owners are considering or planning a sale, if they are not actively selling the team already.

When is Rick Westhead ever wrong? You can call it sloppy but he does have inside info and is connected, so if he says they are for sale to me they are 100% for sale

In case my comment about sloppy reporting proves to be premature, I am sorry for rushing to judgment. I probably should have said, "it would be sloppy journalism if .... ".

In any case, it sounds like you know more about Rick Westhead than me, so I am happy to concede the point.

I would just point out that, for my own benefit, it would have been nice if Mr. Westhead gave some indication about how he concluded that the team is for sale, instead of passing the information along as an aside in a tweet about franchise values. As the reader, it was not so simple for me to figure it out, and I have challenges informing myself.

 

[Tuna99]

750 mil, final offer.

Now Brucie is floating the rumour. Must be something to it or else he also just wants to piggyback off the traffic.

The best thing about Bruce’s reporting is he says “Rick Westhead is all wrong” and then goes onto say the team is for sale and provide no other information. So basically just being 6 hours behind Westhead

This is why traditional sports media sucks . Garrioche offers nothing here in his reporting besides ‘look at me too’

 

[Micklebot]

Now Brucie is floating the rumour. Must be something to it or else he also just wants to piggyback off the traffic.

Man does Garrioch hedge a lot in that article

Of course, this is going to set off speculation of who’s interested but it’s not even known if the Melnyk family has made any firm decision...

Still, this is all speculation because we don’t even know if the franchise is up for sale....

NHL commissioner Gary Bettman and the league have been respectful of the fact Anna and Olivia are grieving the loss of their father. The NHL wants them to have as much time as they need to determine what’s next and the annual Melnyk Skate for Kids will return during the holiday season.

 

[Union2017]

750 mil, final offer.

$750M and $10 Tim's gift card.

 

[Berri UQAM]

Man does Garrioch hedge a lot in that article.

So it seems as though there is conflicting information. Westhead is saying that the team is for sale. Garrioch is saying that it is not known whether the team is for sale. In my view, readers can be forgiven for getting mixed up and confused.

 

[bert]

Yikes. You might be correct. Unfortunately, the way that Rick worded his tweet makes it seem like it's a confirmed fact that the Senators are for sale. At least that's the way that his tweet came across to me.

In my view, it's sloppy reporting to present other people's opinions or speculations as fact.

They have been for sale for a while.

 

[Tuna99]

Rick Westhead and Garrioche should not be considered to be in the same category of news. Garrioche is the Sens daily cartoon, Westhead writes the history book.

And 3 minutes after Garrioche writes no one knows for sure if the Sens are for sale, Sportico confirms they are for sale and have retained a bank to sell the team.

 

[bert]

Rick Westhead and Garrioche should not be considered to be in the same category of news. Garrioche is the Sens daily cartoon, Westhead writes the history book.

And 3 minutes after Garrioche writes no one knows for sure if the Sens are for sale, Sportico confirms they are for sale and have retained a bank to sell the team.

One takes orders from ownership and one exposes the truth. I dont see how they are similar on any level.

 

[Micklebot]

Ottawa Senators Retain Galatioto Sports Partners for NHL Team Sale

An Ottawa Senators sale looms following the death of owner Eugene Melnyk. The team has retained Galatioto Sports Partners.

www.sportico.com

Not much in the way of details, but

The family of late owner Eugene Melnyk has hired Galatioto Sports Partners, said the people, who were granted anonymity because the details are private. Melnyk died in March and left the team to his two children—Anna and Olivia—who are both younger than 25. The franchise is currently run by a three-person board.

 

[Tuna99]

Ottawa Senators Retain Galatioto Sports Partners for NHL Team Sale

An Ottawa Senators sale looms following the death of owner Eugene Melnyk. The team has retained Galatioto Sports Partners.

www.sportico.com

Not much in the way of details, but

The family of late owner Eugene Melnyk has hired Galatioto Sports Partners, said the people, who were granted anonymity because the details are private. Melnyk died in March and left the team to his two children—Anna and Olivia—who are both younger than 25. The franchise is currently run by a three-person board.

Sold by Christmas and closed by the end of the year. Daughters might want playoff revenue so might be after the playoffs the transaction is finalized

 

[aragorn]

Are they for sale or are they looking for investment partners?

 

[discostu]

Sold by Christmas and closed by the end of the year. Daughters might want playoff revenue so might be after the playoffs the transaction is finalized

I think the process will be drawn out quite a bit. Prospective buyers have to figure out where things sit on the arena deal and the key variables around that. If the Melnyk sisters want top value, you let prospective buyers take their time on due diligence.

 

[Tuna99]

Are they for sale or are they looking for investment partners?

I’ll say for sale. New crew at city hall and the new ownership group will want to negotiate the stadium financials with the city and province. Financing the stadium won’t be left up to the daughters - they’ve moved the stadium process along and now it’s time for the major players to come in and get this thing build.

New owners with a big media push will have a hell of a lot of leverage on the city and province and a rejuvenated fanbase. All partners will want this to go smoothly and build long term relationships.

Perfect time to sell

I think the process will be drawn out quite a bit. Prospective buyers have to figure out where things sit on the arena deal and the key variables around that. If the Melnyk sisters want top value, you let prospective buyers take their time on due diligence.

I’m sure the books are sorted and the NHL has gotten the stadium file moved along way further then anyone knows about.

This is a real estate development deal that includes a hockey club. You’re not coming here for the Tkachuk jersey and to skate around the CTC, you’re coming for the downtown land and the chance to build a billion dollar arena

 

[Silencio]

Quality journalism from Bruce as always.

 

[bicboi64]

whomever buys em, please just pump stupid amounts of cash into the team so we have some financial muscles when it comes to signing players

 

[Masked]

This is a real estate development deal that includes a hockey club. You’re not coming here for the Tkachuk jersey and to skate around the CTC, you’re coming for the downtown land and the chance to build a billion dollar arena

They have a very small piece of LeBreton and an arena isn't a moneymaker. Unless a new ownership believes they can leverage the franchise into a bigger stake at LeBreton, they're buying in for the franchise itself.

Assen na yo!