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

[Flamingo]

So the NHL is encouraging all bidders to consider bringing Reynolds onboard. He’s straddling two sides of this deal — prospective minority partner and part of the product.

I imagine the majority-ownership bidders see this as a two-edged sword. On the one hand, Reynold’s partnership comes with built-in marketing. On the other hand, he’s going to bring a camera into the boardroom.

I hope Reynolds still would have creative control, and Bettman doesn’t show up with a director’s megaphone. I wonder how the revenue from a Welcome-to-Wrexam-like production would be split. I hope it would be more entertaining than that Leafs series All or Nothing.

The NHL has told anybody interested in the Senators that Ryan Reynolds should play a role

The Vancouver-born actor has talked with the groups interested in submitting bids for the franchise.

ottawasun.com

 

[Crosside]

Mendes report a settlement is on the horizon before case go in court on January 3. Maybe this accelerate the sale

 

[Emerica]

 

[bashbros32]

delete

dunno how to imbed tweets but Chris Johnston just reported that Bill Daly thinks the sale will be a "healthy process"

 

[bert]

Great news!

 

[Micklebot]

delete

dunno how to imbed tweets but Chris Johnston just reported that Bill Daly thinks the sale will be a "healthy process"

You should be able to just copy the URL and paste it in, the system will take care of the rest so long as you has the specific tweets url

 

[Cosmix]

You should be able to just copy the URL and paste it in, the system will take care of the rest so long as you has the specific tweets url

What is a "healthy process"?

 

[BonHoonLayneCornell]

What is a "healthy process"?

An Ottawa Senators sale without Eugene involved

 

[Tuna99]

What is a "healthy process"?

it means "it's totally organic"

 

[Golden_Jet]

You should be able to just copy the URL and paste it in, the system will take care of the rest so long as you has the specific tweets url

CJ said , Bettman says over dozen groups, have looked at the books, but thinks 4-5 groups will likely be bidding.

 

[Masked]

What is a "healthy process"?

Healthy is a buzzword for lots of money.

Assen na yo!

 

[bashbros32]

Healthy is a buzzword for lots of money.

Assen na yo!

I sure hope so...

~ $1B to purchase the team
~ $1B to build a new arena
~??? $M in team debt

We need a pretty heftily wealthy individual or group of individuals to make this thing work.

 

[Micklebot]

I sure hope so...

~ $1B to purchase the team
~ $1B to build a new arena
~??? $M in team debt

We need a pretty heftily wealthy individual or group of individuals to make this thing work.

Do arenas cost 1billion now? I get that inflation has been nuts with Covid but wasn't the Cgy arena budgeted at 550 mil and EDM at 480 mil not too long ago?

 

[L'Aveuglette]

Do arenas cost 1billion now? I get that inflation has been nuts with Covid but wasn't the Cgy arena budgeted at 550 mil and EDM at 480 mil not too long ago?

Yeah, they cost 1 billion now, especially if they're part of a larger construction area with parks and malls.

 

[bashbros32]

Do arenas cost 1billion now? I get that inflation has been nuts with Covid but wasn't the Cgy arena budgeted at 550 mil and EDM at 480 mil not too long ago?

according to the arena project breakdown, the Oilers arena cost 483M, however:

A: accounting for inflation thats around 580M in todays money...
B: Thats JUST the arena, they also;

Connected the LRT for 7M
built a "winter garden" for ~60M
built a pedestrian "corridor" for 15M
built a community centre for 25M
payed 26.5M for the land

in total according to the deal it was 614M in 2013, closer to 750M in todays dollars...

So I rounded a bit, and also assume whomever buys the sens will want to develop a tad more than JUST the arena.

 

[Crosside]

Michael Andlauer pourrait acheter les Sénateurs tout en demeurant actionnaire du Canadien

Est-ce que cela va se faire?

www.danslescoulisses.com

 

[bashbros32]

Michael Andlauer pourrait acheter les Sénateurs tout en demeurant actionnaire du Canadien

Est-ce que cela va se faire?

www.danslescoulisses.com

is there anything new in here that a dum dum non-french speaking Ontarian can't see?

All I'm seeing is Andlauer and Desmarais may team up?

But wasn't it more hinted at that Andlauer was selling to Desmarais? or am I getting that mixed up?

 

[Micklebot]

Yeah, they cost 1 billion now, especially if they're part of a larger construction area with parks and malls.

Well if their building Malls that likely going to be a revenue generator, it's like including the cost of the condos from the old arena deal in the cost, I think it's better left out.

Parks sure, transit hookups of course, but some stuff is parallel development at least from my perspective, they are related in that one opens the door to do the other but aren't a cost of building an arena, they are a benefit of building one.

 

[bashbros32]

Well if their building Malls that likely going to be a revenue generator, it's like including the cost of the condos from the old arena deal in the cost, I think it's better left out.

Parks sure, transit hookups of course, but some stuff is parallel development at least from my perspective, they are related in that one opens the door to do the other but aren't a cost of building an arena, they are a benefit of building one.

My point initially replying to @Tranquilo Naito was that whomever buys the team better be deep pocketed... because, benefit or not, those things cost dinero to build and operate...

that doesn't just get built without money...

While a potential new owner building a mall or a stack of condo's at Lebreton next to the arena doesn't truly factor in to running the NHL franchise... it kinda sorta does... if guy doesn't have his finances in check for his other business ventures, then the sens will become a shoestring team very quickly.

 

[Micklebot]

is there anything new in here that a dum dum non-french speaking Ontarian can't see?

All I'm seeing is Andlauer and Desmarais may team up?

But wasn't it more hinted at that Andlauer was selling to Desmarais? or am I getting that mixed up?

One thing I noticed is the suggestion that a) he isn't required to sell his stake in the hand to buy into the sens, and b) he may not sell his stake externally, rather he could sell it to one of his partners. So, buy the sens with say Desmarais while Desmarais buys his 20% stake in the hand

Maybe I misunderstood but that was what popped out to me

 

[Micklebot]

My point initially replying to @Tranquilo Naito was that whomever buys the team better be deep pocketed... because, benefit or not, those things cost dinero to build and operate...

that doesn't just get built without money...

While a potential new owner building a mall or a stack of condo's at Lebreton next to the arena doesn't truly factor in to running the NHL franchise... it kinda sorta does... if guy doesn't have his finances in check for his other business ventures, then the sens will become a shoestring team very quickly.

Ok, but parallel development doesn't equate to team debt, which is what threw me off. Agreed though, they'd need deep pockets to get it done right

 

[bashbros32]

One thing I noticed is the suggestion that a) he isn't required to sell his stake in the hand to buy into the sens, and b) he may not sell his stake externally, rather he could sell it to one of his partners. So, buy the sens with say Desmarais while Desmarais buys his 20% stake in the hand

Maybe I misunderstood but that was what popped out to me

Fair enough, I also just learned that potentially any internal partner could screw him over if he DID need to sell...

on a MUUUUCH smaller scale, a youtuber I watch got involved with an e-sports team by making guides and some content I guess with them, in exchange for shares...

Things with this e-sports team are up in flames right now and he wants to cash out his shares, but according to him the partners have "right of refusal" (he's a youtuber so the phrasing may be wrong) and everyone is refusing to buy him out.

 

[Bileur]

One thing I noticed is the suggestion that a) he isn't required to sell his stake in the hand to buy into the sens, and b) he may not sell his stake externally, rather he could sell it to one of his partners. So, buy the sens with say Desmarais while Desmarais buys his 20% stake in the hand

Maybe I misunderstood but that was what popped out to me

It’s not very clearly written, he may also mean that he’d offer his shares to his current partners in the Habs before going external.

 

[bashbros32]

Ok, but parallel development doesn't equate to team debt, which is what threw me off. Agreed though, they'd need deep pockets to get it done right

is the teams current debt included as part of the sales figures? Are the Senators... or... Capital sports management or whatever the group is called, not like... multiple hundreds of millions in debt?

 

[Bileur]

Fair enough, I also just learned that potentially any internal partner could screw him over if he DID need to sell...

on a MUUUUCH smaller scale, a youtuber I watch got involved with an e-sports team by making guides and some content I guess with them, in exchange for shares...

Things with this e-sports team are up in flames right now and he wants to cash out his shares, but according to him the partners have "right of refusal" (he's a youtuber so the phrasing may be wrong) and everyone is refusing to buy him out.

Usually right of first refusal either means you have to offer it to partners first then you can go externally or that you present the external offer to partners who can match.

I can’t imagine there would be a situation where he’s locked in to owning something he doesn’t want to.

On big money deals like this I’m sure there would be arbitration clauses regarding valuation by neutral third parties.