slip
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- Aug 19, 2005
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Bottom line is FSG is courting outside investors for their Penguins franchise. Maybe they sell a piece, or maybe they sell then entire thing.
The Jacobs Famly Delaware North Wants to Buy the Sabres but It Gets Complcated
- Thread starter Fenway
- Start date
Jim Bob
RIP RJ
The article says that they plan to maintain controlling interest of the Pens.
This is similar to the Pegulas selling a minority stake in the Bills as a short term cash grab. Lots of pro sports owners are doing this without selling a controlling interest in the club.
So, this is just another reason why I'm not buying the copium that Pegula sells the Sabres.
May Day 10
Registered User
I can tell you that Pegula is talking to FSG about NESN taking over from MSG for TV.
joshjull
Registered User
Sounds similar to what Pegula did with the Bills. Get a big injection of money from selling a percentage of the team. Yet keep control
slip
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Perhaps the long game here for FSG is get a minority owner lined up for the Penguins to get immediate cash to deploy in their Celtics bid, but then perhaps look to sell entire team to minority owner in order to make an aggressive move to force the Jacobs family to sell Bruins and, by extension, get Deleware North to sell TD Garden, by using the threat of building another arena to house the Celtics as leverage. Maybe grant long term concession rights to DN for the Garden. There is also the NESN minority stake DN has as another deal variable.
With Pegula in talks with NESN already as Fenway states there is definitely communication between all the parties he mentioned in his original post. Sometimes deals emerge as talks progress. Still holding out hope for a Jacobs family intervention.
Beerz
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May Day 10
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So the Jacobs family will own the Sabres, Fenway Group the Bruins, and Pegula the Penguins.
Penguins will be on NESN, Bruins will be on MSG, and the Jacobs family is going to re-launch the Empire Sports Network
Penguins will be on NESN, Bruins will be on MSG, and the Jacobs family is going to re-launch the Empire Sports Network
MOGlLNY
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ValJamesDuex
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The building in the background is Delaware North Headquarters...
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Maybe he really likes the art deco style of the Calumet building which is on the right past Prima Pizza and Pasta? Given the size of his forehead in his tweets, it might be an architectural thing.
Revelate
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While I find this entire scenario highly unlikely, the one thing that gives me pause (in addition to that Weekes tweet) is the salary cap projections that came out. We clearly have no interest in spending to the cap as it exists now. Combine that with the franchise generally being run like a private equity portfolio company and I can talk myself into a sale being possible.
Jim Bob
RIP RJ
Maybe the red lights mean that a player used trade protection to block a trade to Buffalo?
Mr Nogatco
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AFAIK Josh Harris owns a majority stake in the Washington Commanders, Philadelphia 76ers, and NJ Devils
Jim Bob
RIP RJ
Harris is the "managing partner" for the Sixers and Devils.
Harris Blitzer Sports & Entertainment technically own the Sixers and Devils and Harris co-owns HBSE with David Blitzer.
My guess is that is how he got around it when purchasing the Commanders.
More info on the possible Celtic bidders - 4 bidders reported to be interested in Celtics sale
Always interesting how there are plenty of people who have no ties to a place who are willing to buy a team and no thought of the team moving. And then there are Buffalo sports fans who don't live in the rest of the sporting world and do nothing but worry about that very thing.
Always interesting how there are plenty of people who have no ties to a place who are willing to buy a team and no thought of the team moving. And then there are Buffalo sports fans who don't live in the rest of the sporting world and do nothing but worry about that very thing.
If you can think of a better market for the Boston Celtics the most storied team in Basketball i'm sure the NBA would be all ears.
It's that there are people constantly looking to buy franchises in sports that have nothing to do with being from a that place. Andlauer is certainly one of the most recent for the NHL.
No doubt, but wanting to move a franchise to a larger market makes sense. Especially if that franchise doesn’t make much money.
The Sabres are vulnerable to a market upgrade in a way the Celtics are unlikely to ever be. It’s always plausible that they move.
The Sabres right now are in a unique position that makes them vulnerable to relocation.
- COVID plus general sentiment has reduced Southern Ontario ticket purchasers/season ticket holders
- Local support for the team is the lowest it’s been in a long time
- Smallest market in the US with a team currently
- Need a new arena, or need major expensive renovations on the existing arena.
That’s why I hope Pegula doesn’t sell unless it’s to a local (e.g. Jacob’s family). Otherwise the Sabres could very likely leave, unless the NHL is planning on more expansions and the owners want to hold out for that sweet expansion fee.
TehDoak
Chili that wants to be here
I believe there is a clause in their purchase agreement that prevents them from relocating the team or selling to someone who would.
IMHO, Relocation isn't a real threat right now. Also, I doubt the arena renovations are 500M+. Utah is spending 525M to renovate the basketball arena to add hockey. So major retrofitting, etc. They don't need to do that in Buffalo. Probably still expensive, but I'd be shocked if that 500 number was anywhere close to what it needed. Less than half that. Still a big number, but not that big.
The issue with the Pegulas is I doubt they can find a local buyer who would pay a price the NHL finds acceptable. Based on the last few sales, it likely needs to get north of 800M for it to prop up the franchise pricing. I don't know if a local buyer exists.
I'd be shocked if the Pegulas sell anytime soon. Our best hope is the kids take over and they have the common sense to ask for more help than Terry has.
Jim Bob
RIP RJ
ValJamesDuex
Old School
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no wonder FSG could not raise that cash. Lets see if it effects the Pegula/Jacobs dynamic in any way, doubtful.
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