- Mar 10, 2010
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Situation in Ottawa was different in this way - Eugene Melnyk was severely under-capitalized. There were stories he was borrowing against the Senators in order to fund his other businesses. He (and his kids) did not have enough money to help develop a new arena. And finally I wonder if there was an estate tax issue as well. *Note: David Thomson probably doesn't actually have all that much money himself - almost everything is controlled through a family trust, which was certainly done to avoid estate taxes)
The poster I quoted had mentioned maybe after the the Winnipeg owners die their kids will sell the team. I was referencing Eugene’s Kids selling and presumably cashing in on the remainder of the proceeds after the debts from dad were cleared up.