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

[Emerica]

Ian Mendes' article literally says that the delay is due to the NHL wanting to vet every potential group before giving them access to some fairly sensitive financial information about the Sens and to a lesser extent the NHL. Which can obviously take time if you have as many groups as being reported.
Nowhere does it say that the delay is on the Sens side, people just love to make shit up.

GARRIOCH: More than 12 groups have shown interest in the Senators; Ryan Reynolds is in the mix, says Bettman

The Ottawa Senators are a hot commodity, and Ryan Reynolds is in the thick of the race, says Gary Bettman

ottawasun.com

While the due-diligence website was scheduled to open Dec. 1, it’s been delayed until Galatioto Sports Partners (GSP) gets all the financial data it needs from the organization. Bettman noted as the two-day meetings wrapped up, that it should be open soon.

This was in mid-December. Garrioch just making things up again...

End of the day, like Micklebot said, it's probably both. I'm sure they are waiting on some things from the Sens end and i'm sure they have already started the vetting process which can obviously take a while.

 

[Cosmix]

The market has internal challenges to having consistent sell outs. If a group has new ideas to make the product more interesting to the next generation and a more inclusive to draw from a larger pool of potential customers that has to be a good thing.

I’m also curious about what an immersive experience outside the rink means.

The traditional game experience from Canadian arenas is nothing special, I don’t need to hear cotton eyed Joe any more than we currently do.

To attract more fans, the team needs be competitive; it cannot trade away its best players for picks and prospects and tank.

There are things that can be done to improve the in-arena game experience.

When I had season tickets the between periods activity was boring and repetitive.

The activity should involve fans in more ways and make it enjoyable and interesting when you are in your seat between periods (electronic interaction via smart phones for example).

Entertainment could be improved both before, between periods and after the games.

The drive home experience could be improved too via radio programs that entertain the fans. For example, many years ago the Blue Bomber games and perhaps the Jets games too had the "Happy Honker Award" for the hardest working player after the game and all listeners in their cars outside the arena would honk to acknowledge appreciation for that player!

 

[Golden_Jet]

To attract more fans, the team needs be competitive; it cannot trade away its best players for picks and prospects and tank.

There are things that can be done to improve the in-arena game experience.

When I had season tickets the between periods activity was boring and repetitive.

The activity should involve fans in more ways and make it enjoyable and interesting when you are in your seat between periods (electronic interaction via smart phones for example).

Entertainment could be improved both before, between periods and after the games.

The drive home experience could be improved too via radio programs that entertain the fans. For example, many years ago the Blue Bomber games and perhaps the Jets games too had the "Happy Honker Award" for the hardest working player after the game and all listeners in their cars outside the arena would honk to acknowledge appreciation for that player!

Ottawa has the hardest working player award on the radio, when I get to my car. Just missing the honking I guess.

No to dumb phone interaction games, lol.
I always get up and socialize with people.

 

[Cosmix]

Ottawa has the hardest working player award on the radio, when I get to my car. Just missing the honking I guess.

No to dumb phone interaction games, lol.
I always get up and socialize with people.

A valuable prize might be won. I won 2 watches and a game jersey when I had season tickets.

Ottawa has the hardest working player award on the radio, when I get to my car. Just missing the honking I guess.

No to dumb phone interaction games, lol.
I always get up and socialize with people.

Gotta have the honking!

I fondly remember the Pizza Line and the free pizza when the Senators scored a lot of goals.

 

[Golden_Jet]

A valuable prize might be won. I won 2 watches and a game jersey when I had season tickets.


Gotta have the honking!

Never won anything in 17 years, got free stuff though, thanks to EM.

Just the free concerts to start the season,
Eagles, Andre Gagnon.
Free signed jerseys
Free limited and framed and autographed Tony Danby print.
Free parking.

That’s what I remember off top of my head.

 

[BonHoonLayneCornell]

I don't have the answers, but it seems a no brainer to try to diversify the entertainment as much as possible and I liked what that article hinted at. People aren't going to pay gobs of money just to go sit in a seat for 2.5 hours and the way entertainment is consumed has changed so much. Might as well go fore bore with it as they prepare to build a new downtown arena.

 

[SPF6ty9]

The market has internal challenges to having consistent sell outs. If a group has new ideas to make the product more interesting to the next generation and a more inclusive to draw from a larger pool of potential customers that has to be a good thing.

I’m also curious about what an immersive experience outside the rink means.

The traditional game experience from Canadian arenas is nothing special, I don’t need to hear cotton eyed Joe any more than we currently do.

OT, but I was wondering this watching the juniors game last night when it came on...why is cotton eyed Joe played so frequently at hockey games? What the heck is the connection?

The experience alone is enough when it's a high stakes game, like the playoffs or again like the juniors game last night. The two Boston games this year were great too, I think the experience would go a long way if they filled the building. When the atmosphere isn't there and half the building is empty, it's hard to sell the appeal over just watching the game on TV.

But that's my take. I'm more of a not on my cell phone or spending time on youtube rabbit hole type person. And for those that are, they probably need something else there to grab attention. As long as they don't turn the game into some sensory overload mess, then I guess I'd be open to new ideas an ownership group would bring.

 

[Bileur]

To attract more fans, the team needs be competitive; it cannot trade away its best players for picks and prospects and tank.

There are things that can be done to improve the in-arena game experience.

When I had season tickets the between periods activity was boring and repetitive.

The activity should involve fans in more ways and make it enjoyable and interesting when you are in your seat between periods (electronic interaction via smart phones for example).

Entertainment could be improved both before, between periods and after the games.

The drive home experience could be improved too via radio programs that entertain the fans. For example, many years ago the Blue Bomber games and perhaps the Jets games too had the "Happy Honker Award" for the hardest working player after the game and all listeners in their cars outside the arena would honk to acknowledge appreciation for that player!

Oh I strongly agree that on ice results are the #1 draw but it’s not realistic for us to hope to compete year in - year out.

We need to be able to keep the fans coming even when the product is in a down cycle.

Fully agree on involving the fans, that’s why this group sounds so interesting.

OT, but I was wondering this watching the juniors game last night when it came on...why is cotton eyed Joe played so frequently at hockey games? What the heck is the connection?

The experience alone is enough when it's a high stakes game, like the playoffs or again like the juniors game last night. The two Boston games this year were great too, I think the experience would go a long way if they filled the building. When the atmosphere isn't there and half the building is empty, it's hard to sell the appeal over just watching the game on TV.

But that's my take. I'm more of a not on my cell phone or spending time on youtube rabbit hole type person. And for those that are, they probably need something else there to grab attention. As long as they don't turn the game into some sensory overload mess, then I guess I'd be open to new ideas an ownership group would bring.

Agreed. Hopefully it’s an “opt in” thing that still allows others to just watch if that’s what they want.

 

[StoicSensFan]

My God

Reynolds = cool, envied by all

Bieber = the butt of jokes forever

What a swing that would be

Worst case we become an NHL meme, best case we start becoming a very popular franchise and Matthews decides to sign here because he's BFFs with Bieber

 

[Senscore]

Call me old fashioned but I'd rather avoid being the consolation prize for celebrity Leaf fans or the way into the sports ownership club for people who have never even been to the city.

 

[Adele Dazeem]

Call me old fashioned but I'd rather avoid being the consolation prize for celebrity Leaf fans or the way into the sports ownership club for people who have never even been to the city.

I've never been to the city. So what.

 

[Senscore]

I've never been to the city. So what.

I'd recommend that before attempting to buy up the most valuable entertainment property in it.

Would show that it's a bit more meaningful than just numbers on a balance sheet.

 

[Adele Dazeem]

I'd recommend that before attempting to buy up the most valuable entertainment property in it.

Would show that it's a bit more meaningful than just numbers on a balance sheet.

Oh I completely misunderstood your comment.

 

[Tnuoc Alucard]

Pretty sure i remember reading somewhere the issue is on the Sens side. Believe they haven't provided the complete financials yet and the website won't be open until then

re PostMedia (BG)

”Though NHL commissioner Gary Bettman told reporters last month more than dozen parties have expressed interest in looking at the Senators’ books, sources say the league wants to make sure everybody is fully vetted before allowing access to the website.

The Senators were put up for sale on Nov. 4 by the family of late owner Eugene Melnyk, and the NHL was hoping to know by mid-January who the new owner might be. Those timelines will all have to be pushed back because of the delay in opening the website.

A source said we may not know before March who the new owner of the club will be, and even then the paperwork may not be done before June.

The site, designed by GSP, will allow potential bidders to see the club’s financials, including revenue from ticket sales and corporate deals, plus the debt Melnyk’s estate is holding against the club. The Senators’ memorandum of understanding with the NCC will also be available.”

 

[Silencio]

“One of the major partners is a major force in the music industry. He has worked with everybody from Jay Z to The Weeknd to Drake,” says a source. “They have relationships with individuals with high visibility that can be ambassadors for the team.”

If it wasn’t for the “he” in that description this would have been my guess:

 

[Mingus Dew]

Just seems odd that it's taking 3+ months to get a data room live and have potential buyers sign NDAs and such.

You don't need to vet people before allowing them access to confidential info, you just need to get them under a binding obligation not to disclose.

Maybe things are different in the sports club M&A world but I don't see why they would be? Vet the buyers while they're doing their diligence.

Something else going on.

 

[Golden_Jet]

Just seems odd that it's taking 3+ months to get a data room live and have potential buyers sign NDAs and such.

You don't need to vet people before allowing them access to confidential info, you just need to get them under a binding obligation not to disclose.

Maybe things are different in the sports club M&A world but I don't see why they would be? Vet the buyers while they're doing their diligence.

Something else going on.

Not sure where you get 3 plus months, when it’s actually 2 months.
It was early November.

 

[Big Muddy]

Just seems odd that it's taking 3+ months to get a data room live and have potential buyers sign NDAs and such.

You don't need to vet people before allowing them access to confidential info, you just need to get them under a binding obligation not to disclose.

Maybe things are different in the sports club M&A world but I don't see why they would be? Vet the buyers while they're doing their diligence.

Something else going on.

Accounting details?

Not sure where you get 3 plus months, when it’s actually 2 months.
It was early November.

Or 2 1/2 months approx.

 

[Golden_Jet]

Accounting details?


Or 2 1/2 months approx.

Yes, 64 days since November 4th
So couple of days over 2 months.
So nowhere close to 3+.

 

[GCK]

Just seems odd that it's taking 3+ months to get a data room live and have potential buyers sign NDAs and such.

You don't need to vet people before allowing them access to confidential info, you just need to get them under a binding obligation not to disclose.

Maybe things are different in the sports club M&A world but I don't see why they would be? Vet the buyers while they're doing their diligence.

Something else going on.

NHL is very very secretive like most sports leagues. The financial data being provided is not just the Sens but also league financial info. Zero chance Betteman and the BoG allow access to this without complete vetting.

 

[Mingus Dew]

NHL is very very secretive like most sports leagues. The financial data being provided is not just the Sens but also league financial info. Zero chance Betteman and the BoG allow access to this without complete vetting.

Sure but that kind of vetting doesn’t take that long. You just need to know the folks are real and actually have the ability to play in the space. The in-depth stuff can come later.

Also I’m assuming they were getting their ducks in a row before they publicly launched their marketing period like any normal corporate seller would.

 

[Big Muddy]

Yes, 64 days since November 4th
So couple of days over 2 months.
So nowhere close to 3+.

Ya, OK. It assumes they meet their stated objective of March (just a footnote).

 

[Mingus Dew]

To be clear, I'm not saying there is anything nefarious going on. It's just an odd situation.

Time kills deals. Especially when it's one of the roughest financing markets in 15 years and things are projected to get worse before they get better.

So if I'm the team I'm expecting the league to "vet" potential buyers as quickly as possible. We're talking about things like running criminal records, checking bankruptcy history and searching active litigation. This isn't a CIA black op.

There are reports that the data room isn't even complete yet, which is bonkers when you publicly announce marketing in November. My guess is that the org's information is inaccurate or incomplete or just downright messy and that's causing a ton of work and backwards investigation for the bankers.

 

[Tuna99]

“One of the major partners is a major force in the music industry. He has worked with everybody from Jay Z to The Weeknd to Drake,” says a source. “They have relationships with individuals with high visibility that can be ambassadors for the team.”

If it wasn’t for the “he” in that description this would have been my guess:
View attachment 631662

Justin Beiber again?

To be clear, I'm not saying there is anything nefarious going on. It's just an odd situation.

Time kills deals. Especially when it's one of the roughest financing markets in 15 years and things are projected to get worse before they get better.

So if I'm the team I'm expecting the league to "vet" potential buyers as quickly as possible. We're talking about things like running criminal records, checking bankruptcy history and searching active litigation. This isn't a CIA black op.

There are reports that the data room isn't even complete yet, which is bonkers when you publicly announce marketing in November. My guess is that the org's information is inaccurate or incomplete or just downright messy and that's causing a ton of work and backwards investigation for the bankers.

For sure based on what you hear behind the scenes I wouldn’t doubt if there are many more claims and investigations and IOUs then the fans know about - obviously it’s not going as smoothly as anticipated because things from the organization are behind - and they are the ones motivated to sell. Gong Show and can’t wait for new owners to arrive

 

[Micklebot]

To be clear, I'm not saying there is anything nefarious going on. It's just an odd situation.

Time kills deals. Especially when it's one of the roughest financing markets in 15 years and things are projected to get worse before they get better.

So if I'm the team I'm expecting the league to "vet" potential buyers as quickly as possible. We're talking about things like running criminal records, checking bankruptcy history and searching active litigation. This isn't a CIA black op.

There are reports that the data room isn't even complete yet, which is bonkers when you publicly announce marketing in November. My guess is that the org's information is inaccurate or incomplete or just downright messy and that's causing a ton of work and backwards investigation for the bankers.

Don't all teams have to have their books audited yearly under the CBA anyways? Idk, I don't think the books can be so inaccurate/incomplete/messy that it would cause major delays with the scrutiny they are required to be under already.