Confirmed with Link: The Ottawa Senators Sale - PART 2

[Do Make Say Think]

That's not nice

Napoleon complex.

None of these ultra rich people are normal (in the quantitative sense, not qualitative).

 

[Sun God Nika]

Gotta feel for Ian here. His stock dropped form most reputable reporter on the team to someone a few knocks above the Twitter guys

I bet Stevie A got the big fat bid, and GSP stalling to let others either match or beat

I don’t get how Steve A would not be furious at the amount of time GSP is giving other bidders to beat his offer tho

 

[Do Make Say Think]

Gotta feel for Ian here. His stock dropped form most reputable reporter on the team to someone a few knocks above the Twitter guys

Because he was fed bogus info?

Damn you people judge fast.

 

[Gil Gunderson]

I don’t get how Steve A would not be furious at the amount of time GSP is giving other bidders to beat his offer tho

Well Steve A. might not have even had a chance to bid if they didn't keep pushing back the deadline, he was still tangled up in the Washington Commanders bidding war. The other bidders probably feel the same way about Neko Sparks' bid being used against them despite him not even having the funds for it.

Basically it's been messy and I wouldn't be surprised if someone tries to go after GSP after the sale is done.

 

[Daffy]

Because he was fed bogus info?

Damn you people judge fast.

To be fair, he should be fact checking with other sources before tweeting that out.

 

[ACLEVERNAME]

Napoleon complex.

None of these ultra rich people are normal (in the quantitative sense, not qualitative).

Damn you people judge fast.

 

[SpezDispenser]

Are all the sales of NHL teams this f***ing stupid, or do we just get the honor this time around?

 

[Senator Stanley]

To be fair, he should be fact checking with other sources before tweeting that out.

Read the original tweet. He heard this from multiple places. Clearly, there is conflicting information going around.

 

[Gil Gunderson]

Are all the sales of NHL teams this f***ing stupid, or do we just get the honor this time around?

I'd say it's an Ottawa thing, but supposedly the guy at GSP in charge of this sale was really tight with Melnyk and wants do make him proud so this was always how it was going to go down.

 

[Flamingo]

To be fair, he should be fact checking with other sources before tweeting that out.

The guy is on a vacation in Italy. Probably had a moment to decide whether to tweet or not while his wife was ordering a cannoli, and opted to get on the board during anticipated announcement day.

 

[Daffy]

Read the original tweet. He heard this from multiple places. Clearly, there is conflicting information going around.

Multiple could be 2. Neko and Snoop?

 

[SENATOR]

It will be completed within next two weeks. Player's grapevine rumor. Smith will be gone right away. Dorion will probably hire a new coach. Cat will resign.

 

[Flamingo]

It will be completed within next two weeks. Player's grapevine rumor. Smith will be gone right away. Dorion will probably hire a new coach. Cat will resign.

Wait, resign? Or re-sign?

 

[UglyPuckling]

Well if some of the reporting is to be believed that would have cost them a $50mm deposit.

Which is insane by the way - to have nonrefundable money up when the seller can continue to play the bids off against each other lol.

Non refundable or something else? If whatever it is is coming from a surety/insurance company, they typically use other terms like performance or bid bond. Non-refundable sounds like a lay term. But, I acknowledge that this situation could be different and there never seems to be any legit details that surface, so who knows?

 

[IpsoPostFacto]

Napoleon complex.

None of these ultra rich people are normal (in the quantitative sense, not qualitative).

Napoleon complex implies someone of short stature jumping up and down and bragging about achievements not ... achieved. This guy appears to be successful.

There's is another bidder in this thing who may fall into that category - playing with the big boys etc.

 

[Senscore]

 

[Mingus Dew]

Non refundable or something else? If whatever it is coming from a surety/insurance company, they typically use other terms like performance or bid bond. Non-refundable sounds like a lay term. But, I acknowledge that this situation could be different and there never seems to be any legit details that surface, so who knows?

I work in real estate; typically refer to a deposit that can't be refunded (other than for specific reasons) as nonrefundable or hard.

No clue what forms the deposits took. Just saying that some early reporting that final bids included a binding $50mm deposit were odd.

 

[Tragedy]

Napoleon complex implies someone of short stature jumping up and down and bragging about achievements not ... achieved. This guy appears to be successful.

There's is another bidder in this thing who may fall into that category - playing with the big boys etc.

Is it mr. alphabet soup who is basically Neeko Sparks but no one has done any deep dive on him either

 

[IpsoPostFacto]

Are all the sales of NHL teams this f***ing stupid, or do we just get the honor this time around?

well, as per Nick K and others, this is a template to be used going forward.

The NHL figured "hey, we have this team that has had years of wacky ownership. What say we try out our fresh and untested approach. what could go wrong".

Wait, resign? Or re-sign?

resume.

 

[Golden_Jet]

Are all the sales of NHL teams this f***ing stupid, or do we just get the honor this time around?

None usually start out with 7 bidders.

Wait, resign? Or re-sign?

That’s probably the most mis-used word on this site. So many use resign when they mean, re-sign. It’s literally the opposite of what they want to convey.

 

[UglyPuckling]

I work in real estate; typically refer to a deposit that can't be refunded (other than for specific reasons) as nonrefundable or hard.

No clue what forms the deposits took. Just saying that some early reporting that final bids included a binding $50mm deposit were odd.

Re: bolded

That's what I was referring to. I just wondered if an surety/insurance company was involved and the deposit was a typical product of an insurance/surety company.

Not sure how things work in this world (buying a sports team). I'm more familiar with projects in which things get built (infrastructure or systems).

 

[Do Make Say Think]

Napoleon complex implies someone of short stature jumping up and down and bragging about achievements not ... achieved. This guy appears to be successful.

There's is another bidder in this thing who may fall into that category - playing with the big boys etc.

Napoleon Complex is overcompensating for short size. It has nothing to do with lying about success. Think people who buy giant trucks who don't use them to compensate.

Napoleon was very succesfull for a while. This dude is obscenely rich and I assume that his short stature is a big part of what drives him. Nothing wrong with that either.

 

[SpezDispenser]

well, as per Nick K and others, this is a template to be used going forward.

The NHL figured "hey, we have this team that has had years of wacky ownership. What say we try out our fresh and untested approach. what could go wrong".


resume.

Excellent template to use. You can buy the franchise, but it'll take you 5 friggin years to finalize it.

 

[UglyPuckling]

The NHL figured "hey, we have this team that has had years of wacky ownership. What say we try out our fresh and untested approach. what could go wrong".

Can't say what happened here, or what typically happens in the sale of a sports team, but there is plenty of best practice principles and methods for "procurements" in numerous other fields, industries, and in general. The first step is to identify the goals of the stakeholders and then write cogent bid requirements and documents. Another step (of many) that would be useful here would be a peer review to have a look at the process to identify holes & deficiencies. Again, no idea what was used here.

 

[Mingus Dew]

Re: bolded

That's what I was referring to. I just wondered if an surety/insurance company was involved and the deposit was a typical product of an insurance/surety company.

Not sure things work in this world (buying a sports team). I'm more familiar with projects in which things get built (infrastructure or systems).

You probably wouldn’t use a surety bond for a big M&A transaction like this. You’d need to backstop the bond with something anyhow. Cleaner to just put the money in escrow.