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

[Joeyjoejoe]

Yeah hurry this shit up already and choose a new owner.

 

[starling]

NCC will have a quarterly board meeting on April 20th. Maybe something could happen around that date.

 

[Golden_Jet]

NCC will have a quarterly board meeting on April 20th. Maybe something could happen around that date.

You mean to try and get more land.

 

[5ive4Fighting]

Claridge wishes they developed buildings with the panache of Moscow. Their developments are too devoid of anything that could be termed style.

Assen na yo!

Not local, so had no association. Googled, and hell - those are some dull, ugly exteriors.

 

[Sun God Nika]

Wow this is a really sealed process , no leaks or anything yet

 

[Flamingo]

Wow this is a really sealed process , no leaks or anything yet

No kidding.

 

[senswon]

 

[L'Aveuglette]

When NHL commissioner Gary Bettman was in Ottawa on March 27, he noted, “We’re not on the clock.”

That's the thing though, we are on the clock.

The more time this waits, and it sounds like it could go into late-May, the less time we have to evaluate management, coaching and players, which all depends on who pays the bills. You don't want to get too close to the draft not knowing who will be running things.

 

[thinkwild]

Perhaps the hold up is based more on the land that will be available for developing as part of the deal. Sounding like that is more the holdup than anything particularly related to the hockey team. Some big developers involved in the bids. Im hoping its someone able to make that location a new cool downtown locale that competes with the market, Elgin st and i guess blends into Preston. But they better act quick before claridge completes its new ugly slums project

 

[aragorn]

That's the thing though, we are on the clock.

The more time this waits, and it sounds like it could go into late-May, the less time we have to evaluate management, coaching and players, which all depends on who pays the bills. You don't want to get too close to the draft not knowing who will be running things.

The GM & coach have contracts going into next yr & given the debt associated with this team that whoever buys the team will have to also take on I'm not sure they want to add more problems to the list. My guess is that they will go into next season with who they have now & evaluate next yr after the season depending on how the team does.

If they make the playoffs next yr it could be difficult to fire them even if they lose in the first rd. In terms of the draft, unless they have a plan to move up or defer their conditional pick they will not pick until the 3rd rd. My guess is that they let the draft play out & maybe trade someone to get into the draft early in the 2nd rd.

If the new owners have their own plan with their own management already in place or ready at some point next season then maybe they pull the trigger, but that remains to be seen. Should be interesting to see what happens, but I don't expect big changes YET from any new ownership group, we'll see.

 

[Loach]

The GM & coach have contracts going into next yr & given the debt associated with this team that whoever buys the team will have to also take on I'm not sure they want to add more problems to the list. My guess is that they will go into next season with who they have now & evaluate next yr after the season depending on how the team does.

If they make the playoffs next yr it could be difficult to fire them even if they lose in the first rd. In terms of the draft, unless they have a plan to move up or defer their conditional pick they will not pick until the 3rd rd. My guess is that they let the draft play out & maybe trade someone to get into the draft early in the 2nd rd.

If the new owners have their own plan with their own management already in place or ready at some point next season then maybe they pull the trigger, but that remains to be seen. Should be interesting to see what happens, but I don't expect big changes YET from any new ownership group, we'll see.

Pretty sure the debt is included in the price. 900m for the team (example) debt gets paid, Melnyks get the rest.

 

[aragorn]

Pretty sure the debt is included in the price. 900m for the team (example) debt gets paid, Melnyks get the rest.

They had a discussion about this on the Team 1200 the other day & they weren't sure whether the debt was part of the sale, they didn't think it was. I think the debt was around $135 to $150 mil that is owed. Does anyone know for sure?

 

[Loach]

They had a discussion about this on the Team 1200 the other day & they weren't sure whether the debt was part of the sale, they didn't think it was. I think the debt was around $135 to $150 mil that is owed. Does anyone know for sure?

I can't remember where I heard it, but it wasn't on 1200. Also I thought the debt was at least double that. It made sense that the debt was covered in the purchase price...who pays 900m for the team + 600m for a new arena + 300m debt? It's insane. They would have to build realestate from here to Arnprior to make any money. Lol. I'm sure somebody on here knows and has links or something.

 

[Tragedy]

They had a discussion about this on the Team 1200 the other day & they weren't sure whether the debt was part of the sale, they didn't think it was. I think the debt was around $135 to $150 mil that is owed. Does anyone know for sure?

Ron Maclean discussed a couple weeks ago on Hockey night but it is believed to be ~450M in debt.

That would be paid off by the sale of the team so say the team goes for 900M, the Melnyks would get 550M after debts are paid off

 

[PlayItAgain]

Pretty sure the debt is included in the price. 900m for the team (example) debt gets paid, Melnyks get the rest.

This is probably the most likely scenario but there is a chance the new owners might choose to assume the debt and pay less upfront on the team. Especially if there are decent terms on the debt (low interest).

 

[aragorn]

I can't remember where I heard it, but it wasn't on 1200. Also I thought the debt was at least double that. It made sense that the debt was covered in the purchase price...who pays 900m for the team + 600m for a new arena + 300m debt? It's insane. They would have to build realestate from here to Arnprior to make any money. Lol. I'm sure somebody on here knows and has links or something.

From what I understand the team & arena are part of the sale, but not the debt which is difficult to know exactly how much that is. I would also like to know & hope someone can enlighten me.

 

[Loach]

Ron Maclean discussed a couple weeks ago on Hockey night but it is believed to be ~450M in debt.

That would be paid off by the sale of the team so say the team goes for 900M, the Melnyks would get 550M after debts are paid off

Thanks!

 

[Golden_Jet]

Ron Maclean discussed a couple weeks ago on Hockey night but it is believed to be ~450M in debt.

That would be paid off by the sale of the team so say the team goes for 900M, the Melnyks would get 550M after debts are paid off

Ya I think that’s high, maybe he was thinking CDN $, but even that seemed high

 

[SpezDispenser]

The empire state building was erected in less time than this is taking.

Lfg

 

[Loach]

Ya I think that’s high, maybe he was thinking CDN $, but even that seemed high

How much was refinanced...was it 135 or 160m? And then there was the NHL loans that where about the same amount? It was all so muddled with reports comimg from different places. We'll probably never know the real details.

 

[Ice-Tray]

Very interesting, it would make sense that the bids are waiting on an expanded price of land.

Some of the bids, including RR’s with the heavy real estate hitters are probably basing their entire bids in the expectation of being able to make money on the land parcel as opposed to simply the team, especially also having to finance a new arena. Alone that sounds like a massive investment with little chance of getting it all back in team profits or team valuation.

That they need that land makes sense.

 

[Golden_Jet]

Very interesting, it would make sense that the bids are waiting on an expanded price of land.

Some of the bids, including RR’s with the heavy real estate hitters are probably basing their entire bids in the expectation of being able to make money on the land parcel as opposed to simply the team, especially also having to finance a new arena. Alone that sounds like a massive investment with little chance of getting it all back in team profits or team valuation.

That they need that land makes sense.

Ya I think that could be part of it,

Interesting what comes out tomorrow from the NCC presser.

 

[L'Aveuglette]

The GM & coach have contracts going into next yr & given the debt associated with this team that whoever buys the team will have to also take on I'm not sure they want to add more problems to the list. My guess is that they will go into next season with who they have now & evaluate next yr after the season depending on how the team does.

If they make the playoffs next yr it could be difficult to fire them even if they lose in the first rd. In terms of the draft, unless they have a plan to move up or defer their conditional pick they will not pick until the 3rd rd. My guess is that they let the draft play out & maybe trade someone to get into the draft early in the 2nd rd.

If the new owners have their own plan with their own management already in place or ready at some point next season then maybe they pull the trigger, but that remains to be seen. Should be interesting to see what happens, but I don't expect big changes YET from any new ownership group, we'll see.

Fully disagree. If the new owners feel like they can hire better employees, they will.

 

[aragorn]

Fully disagree. If the new owners feel like they can hire better employees, they will.

We'll see soon enough.

 

[Ice-Tray]

Personally I want new ownership to take a detailed approach to evaluating all the hockey and business related positions and go from there once they purchase the team.

If they are professionals then that’s what will happen thankfully.