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

[BonHoonLayneCornell]

Listen, I've lived in Ottawa probably longer than you've been alive.

You misunderstood the "own money" part of my opinion. After spending/financing 800 plus Million USD for the CTC and the Franchise, and very soon after that spending/financing whatever the cost of a new Arena is going to be..... do you actually think the new ownership is going "dig deep into their pockets" aka their own money, to sugar daddy the Senators????

I suspect the new ownership will spend more money than the previous ownership, but money/revenue generated from the Senators and the operation of the CTC.

I suspect you and a lot of others will be disappointed when your collective dream of a super rich sugar daddy, with no regard for their own money is not going to bankroll the team, with their own money.

Billionaires don't become billionaires by spending their own money. I'll bet dollars to doughnuts that ticket prices will increase for next season, along with other current revenue streams.... and the budget for the Senators operational needs will increase commensurate with revenues the franchise generates.

But this is black and white thinking as if there's no potential reward for investing in the team. It is not just money tossed in a pit and burned and there's a pretty sound argument that to boost the interest and revenue of your team you need to pump it up. Or you can run it like Melnyk and bitch and moan all the time and have your GM out there telling the fans about budgets with every 2nd move being about money over hockey, but be excited, spend on us, we might be okay.

After all that whining, Melnyk's secured his kids a billion dollar sale price after spending what? 90 mil was it? 140 mil?

 

[Tnuoc Alucard]

I admire your commitment to the contrarian takes.

First it was: "Even if Eugene Melnyk sold this team, there would be no buyers who would keep it in Ottawa. Why would a billionaire bankroll a team in a small market that doesn't sell out?"

Then it was: "Eugene Melnyk's daughters are unlikely to sell the team. By running on a shoestring budget they can break even every year while the franchise value rises. Why would they sell? It was also their father's dream for it to always stay in the family."

Now it's: "New ownership will not dig deep into their pockets. Why would they?"

I love it. Proven wrong at every turn, yet keeps at it.

Don't think those are my words... but nice try.

 

[Tnuoc Alucard]

But this is black and white thinking as if there's no potential reward for investing in the team. It is not just money tossed in a pit and burned and there's a pretty sound argument that to boost the interest and revenue of your team you need to pump it up. Or you can run it like Melnyk and bitch and moan all the time and have your GM out there telling the fans about budgets with every 2nd move being about money over hockey, but be excited, spend on us, we might be okay.

After all that whining, Melnyk's secured his kids a billion dollar sale price after spending what? 90 mil was it? 140 mil?

If your belief is that the new owners are only buying the teams, to turn a profit at some point in the future, why would they think they could sell the franchise, if they had to subsidize the operations of the team with their own money???

They with spend a lot of their money purchasing the team, and building the new arena... but they will not be constantly digging into their own pockets and subsidize the day to day operations of the franchise, and hope that when they decide to sell, someone else will commit to doing the same.

EM bought the CTC and the Senators for around 192 million, and it looks like the daughters are going to turn a nice profit, after all the debt and whatever is taken care of.

much to the chagrin of the vocal minority, EM did not subsidize the Senators with his own money, he operated on the revenues it generated..... looks like it worked out well in the long run.


Dreams of a sugar daddy financed team is just that, a dream.... fans, sponsors and the other sources of revenue and going to finance the day to day operations of the Senators..... just like the majority of all pro sports franchises.

 

[BonHoonLayneCornell]

Don't think those are my words... but nice try.

Absolutely they were, I'll vouch for that as we argued about it numerous times.

If your belief is that the new owners are only buying the teams, to turn a profit at some point in the future, why would they think they could sell the franchise, if they had to subsidize the operations of the team with their own money???

They with spend a lot of their money purchasing the team, and building the new arena... but they will not be constantly digging into their own pockets and subsidize the day to day operations of the franchise, and hope that when they decide to sell, someone else will commit to doing the same.

EM bought the CTC and the Senators for around 192 million, and it looks like the daughters are going to turn a nice profit, after all the debt and whatever is taken care of.

much to the chagrin of the vocal minority, EM did not subsidize the Senators with his own money, he operated on the revenues it generated..... looks like it worked out well in the long run.


Dreams of a sugar daddy financed team is just that, a dream.... fans, sponsors and the other sources of revenue and going to finance the day to day operations of the Senators..... just like the majority of all pro sports franchises.

I suspect we can look back one day and again say you were wrong. I fully expect that they'll be coming in and capping out this team immediately as it's just the smart play considering where the team is and what they'll be trying to do going forward. Hell, it was almost there this year before it was even sold, and to go below the cap at this point would require obvious financially motivated moves to shed $'s like we saw under Melnyk. Can you imagine a new owner coming in and making them move DBC with nobody else coming in so they can get salaries down? C'mon, that's crazy talk. This is going to be a cap team until the wheels fall off again one day down the road.

 

[Tnuoc Alucard]

Absolutely they were, I'll vouch for that as we argued about it numerous times.

I suspect we can look back one day and again say you were wrong. I fully expect that they'll be coming in and capping out this team immediately as it's just the smart play considering where the team is and what they'll be trying to do going forward. Hell, it was almost there this year before it was even sold, and to go below the cap at this point would require obvious financially motivated moves to shed $'s like we saw under Melnyk. Can you imagine a new owner coming in and making them move DBC with nobody else coming in so they can get salaries down? C'mon, that's crazy talk. This is going to be a cap team until the wheels fall off again one day down the road.

I have my opinion, and you have yours…. No one’s opinion is wrong.

I look at this as if it was myself, and my money financing the purchase, and how I would approach it. Perhaps I am more conservative in my approach to investments and money matters, and you’re more Liberal and spending today without looking ahead at the bigger picture?

Right now the Senators are sitting around the 12 million dollar mark in cap space, that ranks them around the 10th spot over all the last time I checked, And not sure what the salary cap is for next season and projected beyond that, as have heard it could actually go down when the Sinclair TV contact expires in the near future.

I don’t see the Senators being a “Cap Team” to begin the next season, if we categorize a cap team being somewhere around 4 million or less in cap space.

If it happens, I will be surprised, and you will not, and vice versa.

 

[BonHoonLayneCornell]

I have my opinion, and you have yours…. No one’s opinion is wrong.

I look at this as if it was myself, and my money financing the purchase, and how I would approach it. Perhaps I am more conservative in my approach to investments and money matters, and you’re more Liberal and spending today without looking ahead at the bigger picture?

Right now the Senators are sitting around the 12 million dollar mark in cap space, that ranks them around the 10th spot over all the last time I checked, And not sure what the salary cap is for next season and projected beyond that, as have heard it could actually go down when the Sinclair TV contact expires in the near future.

I don’t see the Senators being a “Cap Team” to begin the next season, if we categorize a cap team being somewhere around 4 million or less in cap space.

If it happens, I will be surprised, and you will not, and vice versa.

Fair enough, but some opinions are proven wrong when certain things become facts down the line, like the debates about this team being sold, what the price would be, interested parties, etc. Absolutely we're all allowed an opinion, but for example, an opinion that nobody would buy the Senators was wrong and we now know that with 15 interested bidders. Or that they wouldn't buy them at a very competitive price, Melnyk wasn't given a solid 600mil offer while alive, etc. We now know many of the facts surrounding the hypotheticals of these previous discussions.

12 mil is not their true cap space, they've been ~4.25 away from the ceiling with 78+ on the books so they're scratching the surface already. They are not quite a cap team as of now, but they pretty much have no choice going forward just based on their salary structure as it is now. If they keep Debrincat it's unavoidable. To be under by any significant margin, they'd need to trade Debrincat for futures with no salary coming back and roll with cheap dmen and a backup goalie with no significant additions. None of that seems reasonable. If anything, everyone here is labouring over the fact that keeping Debrincat probably means not fixing the defence and/or goaltending. New owners aren't going to come out and shoot themselves in the foot in year one both from the perspective of fan/media relations and also the potential competitiveness of the on ice product by actively shedding salary and bringing back all the talk about budgets. I get that its an opinion, but I don't think it's a reasonable one.

 

[Oscar The Grouch]

Ryan Reynolds teams up with Remington Group in Ottawa Senators purchase bid | TSN

Hollywood actor Ryan Reynolds will team up with the Remington Group, a Toronto-based real estate development corporation, in a bid to purchase the Ottawa Senators, according to a report by Postmedia’s Bruce Garrioch.

www.tsn.ca

My friend is a prominent development lawyer on Bay St, so I've asked for his opinion. Deets incoming. Seems weird tho. A Markham developer. Yay.

 

[Do Make Say Think]

I have my opinion, and you have yours…. No one’s opinion is wrong.

Opinions can absolutely be wrong. What are you, a child?

 

[Karl Eriksson]

https://archive.is/sfOjd

Reynolds aligns himself with a Toronto real estate tycoon. Regional ties are good and they are developers. We need some developing. Could be a good fit.

 

[Senscore]

https://archive.is/sfOjd

Reynolds aligns himself with a Toronto real estate tycoon. Regional ties are good and they are developers. We need some developing. Could be a good fit.

I hope they don't forget to develop the hockey team too.

 

[Ice-Tray]

https://archive.is/sfOjd

Reynolds aligns himself with a Toronto real estate tycoon. Regional ties are good and they are developers. We need some developing. Could be a good fit.

Tycoon? Sounds fun

 

[Ouroboros]

lol Remington.

If they build the new arena to the same standard as their houses and condos the f***ing thing will collapse within 3 years.

 

[Super Cake]

If Ryan Reynolds really does become a co-owner of the Sens, i expect him to dress as deadpool and swing in from the ceiling in next seasons home opener.

 

[AchtzehnBaby]

Great news from RR pal BG!

 

[bert]

Don't think those are my words... but nice try.

Yeah that's exactly what you did. The new argument you have is that they will spend all the money to buy the team build an arena but put nothing else into it. Which makes absolutely no sense. Spend 1.5 billion then nickle and dime it the rest of the way. You said fans wouldn't come back when Melnyk is gone. Wrong on that one too. You have no pulse on this team or organization. You don't contribute you don't go to games.

 

[Butchy Dakkar]

Great news from RR pal BG!

I’m surprised by this. I Hope this means they’re front runners. I actually thought he would stay in the wings and then align with the winning bid, but I admittedly don’t know if this is feasible and I know other groups have incorporated celebrities as well. I really want Ryan Reynolds has a corner. That means that group is now my favorite.

For the love of God please no Justin Bieber.

 

[Nac Mac Feegle]

I wonder if that ruffles the feathers of the local developers, having at least one of the big bidders be a provincial competitor. I can't imagine the locals liking the intrusion on their turf.

I just wish there was more time to evaluate that soccer team RR bought. Sure, it's doing well now and is the hot new thing....but you can't help but wonder what that will look like in 10+ years. And just how many things can RR focus on? I'm not interested in the Sens being anyone's "side project".

 

[Tuna99]

I’m surprised by this. I Hope this means they’re front runners. I actually thought he would stay in the wings and then align with the winning bid, but I admittedly don’t know if this is feasible and I know other groups have incorporated celebrities as well. I really want Ryan Reynolds has a corner. That means that group is now my favorite.

For the love of God please no Justin Bieber.

Don’t see how RR can run a pro hockey team and be an international celebrity.

honestly as long as RR gives us the reality show I don’t care if he wins the bid

 

[Flamingo]

Ryan Reynolds teams up with Remington Group in Ottawa Senators purchase bid | TSN

Hollywood actor Ryan Reynolds will team up with the Remington Group, a Toronto-based real estate development corporation, in a bid to purchase the Ottawa Senators, according to a report by Postmedia’s Bruce Garrioch.

www.tsn.ca

My friend is a prominent development lawyer on Bay St, so I've asked for his opinion. Deets incoming. Seems weird tho. A Markham developer. Yay.

Herald: The winning bidder committed to building an arena inside the Greenbelt!

Ottawa fans: Hooray!!!

Herald: No, it's a Toronto-area developer, Doug Ford gave them a chunk of the greenbelt, welcome to the new Ottawa Senators, now the Pickering Isotopes!

(As far as I know, Remington Group is not an owner of any Greenbelt turf that's been opened for development. This post was for entertainment purposes only. YMMV.)

 

[AchtzehnBaby]

Don’t see how RR can run a pro hockey team and be an international celebrity.

honestly as long as RR gives us the reality show I don’t care if he wins the bid

RR doesn’t run any team. He is an investor/partner that brings in money. He will definitely make another series out of it and the advance that Netflix (or other) will throw at it is unbelievable. This is a win win for him… and the partners. He will not be involved in any player decisions.

 

[topshelf15]

Remember when we peseant fans, were told nobody would want to buy the team ,because we dont support the team...And now we are being told it has more that it has 10 bidders....So many lies

 

[Tuna99]

RR doesn’t run any team. He is an investor/partner that brings in money. He will definitely make another series out of it and the advance that Netflix (or other) will throw at it is unbelievable. This is a win win for him… and the partners. He will not be involved in any player decisions.

How do you know that? The article says they want RR as the face of the team - can’t do that and be a movie star at the same time

 

[Big Muddy]

I have my opinion, and you have yours…. No one’s opinion is wrong.

I look at this as if it was myself, and my money financing the purchase, and how I would approach it. Perhaps I am more conservative in my approach to investments and money matters, and you’re more Liberal and spending today without looking ahead at the bigger picture?

Right now the Senators are sitting around the 12 million dollar mark in cap space, that ranks them around the 10th spot over all the last time I checked, And not sure what the salary cap is for next season and projected beyond that, as have heard it could actually go down when the Sinclair TV contact expires in the near future.

I don’t see the Senators being a “Cap Team” to begin the next season, if we categorize a cap team being somewhere around 4 million or less in cap space.

If it happens, I will be surprised, and you will not, and vice versa.

They have about $15 m in injury reserve. Towards the beginning of the season they were sitting at about $3.9 m under cap iirc (you can look in here as it was discussed frequently).

The other poster you are debating with stated that the Senators should be pretty close to the cap ceiling next year unless they for some reason decide to dump Debrincat and then fill vacant roster slots with budget players. He is correct and it seems highly unlikely that a new owner would want to be significantly under cap. But one way or another each to his own I suppose and we will find out soon enough.

 

[Big Muddy]

How do you know that? The article says they want RR as the face of the team - can’t do that and be a movie star at the same time

"Face of the team" does not mean making player decisions and running the day-to-day operations. RR (or whomever else) will hire smart, experienced people for that kind of thing.

 

[Larionov]

Right now the Senators are sitting around the 12 million dollar mark in cap space, that ranks them around the 10th spot over all the last time I checked, And not sure what the salary cap is for next season and projected beyond that, as have heard it could actually go down when the Sinclair TV contact expires in the near future.

I have my opinion, and you have yours…. No one’s opinion is wrong.

I look at this as if it was myself, and my money financing the purchase, and how I would approach it. Perhaps I am more conservative in my approach to investments and money matters, and you’re more Liberal and spending today without looking ahead at the bigger picture?

Right now the Senators are sitting around the 12 million dollar mark in cap space, that ranks them around the 10th spot over all the last time I checked, And not sure what the salary cap is for next season and projected beyond that, as have heard it could actually go down when the Sinclair TV contact expires in the near future.

I don’t see the Senators being a “Cap Team” to begin the next season, if we categorize a cap team being somewhere around 4 million or less in cap space.

If it happens, I will be surprised, and you will not, and vice versa.

That is the elephant in the room right now - the collapse of the regional cable TV packages in the States, and how they plan to replace that revenue. That impacts a ton of teams. It does, however, make the Sens even more valuable in relative terms, because the Canadian teams continue to have very strong regional TV packages that are very lucrative.