((HT: AZCentral/12 News))
Andrew Barroway was introduced as the new majority owner of the Arizona Coyotes in Glendale Friday.
IceArizona bought the team for $170-million, but group owner-ring leader Anthony LeBlanc recently valued the franchise for a little over $300-million... (of course, he did...)
But the franchise can leave Arizona if they lose more than $50-million over the first five years of IceArizona's ownership. The larger question is: Just how much money have they lost already...? There's talk that the number is already close to $30-million after only two seasons...
Barroway is committed- for now... he is denying that he is buying the team to flip the team...
NBC's Pro Hockey Talk and James Mirtle of the Globe and Mail reported as far back as November that Barroway wanted to flip the franchise and was the only one in line to purchase the team- moving them to someone who wants to put a franchise in Las Vegas.
Here's the introduction
Barroway's addition gives the Coyotes a little more American ownership- which is huge for the small market/small budget squad that needs league assistance and Barroway's infusion of capital to get off the league salary cap floor...
Unless, of course, they're moving to Vegas...
Showing posts with label for sale. Show all posts
Showing posts with label for sale. Show all posts
Friday, January 2, 2015
Wednesday, September 10, 2014
Hawks Cancel Meeting With Civil Rights Leaders
((HT: MyFoxAtlanta))
A scheduled meeting between Hawks CEO Steve Koonin and local civil rights leaders was cancelled last night by the team. THe action led the group to come down to the Hawks home, Philips Arena, and tell anyone with a camera that he and his group were less than happy.
The Rev. Markel Hutchins got a phone call from Hawks Media Relations Director Garin Narain asking that it be postponed, but Hutchins wanted to hear that from Koonin instead of the front office.
Hutchins and his group are calling for Hawks President/GM Danny Ferry to be fired for his remarks that he relayed from a scouting report about Luol Deng as the team was chasing free agents over the summer. They also want minority ownership in the team once the team is officially put up for sale.
Here's the lead story at noon today in the HQ
Atlanta News, Weather, Traffic, and Sports | FOX 5
Koonin maintains that Ferry has been disciplined, but he won't be fired.
All that may change when the team gets a new owner who wants to put his own stamp on the franchise, anyway.
A scheduled meeting between Hawks CEO Steve Koonin and local civil rights leaders was cancelled last night by the team. THe action led the group to come down to the Hawks home, Philips Arena, and tell anyone with a camera that he and his group were less than happy.
The Rev. Markel Hutchins got a phone call from Hawks Media Relations Director Garin Narain asking that it be postponed, but Hutchins wanted to hear that from Koonin instead of the front office.
Hutchins and his group are calling for Hawks President/GM Danny Ferry to be fired for his remarks that he relayed from a scouting report about Luol Deng as the team was chasing free agents over the summer. They also want minority ownership in the team once the team is officially put up for sale.
Here's the lead story at noon today in the HQ
Atlanta News, Weather, Traffic, and Sports | FOX 5
Koonin maintains that Ferry has been disciplined, but he won't be fired.
All that may change when the team gets a new owner who wants to put his own stamp on the franchise, anyway.
Tuesday, September 9, 2014
Danny Ferry Releases Statement On Deng Appraisal, Hawks Continue Implosion
The Atlanta Hawks continue to be the schleprock of the NBA currently, and you know it's bad when Ray Rice is the only thing in the news keeping you from being the lead...
Hawks COO Steve Koonin maintains that President/GM Danny Ferry will keep his job after he read the backgrounder on Luol Deng aloud two years ago and the word crept out that this event actually did happen.
Ferry released a statement about his mea culpa:
"In regards to the insensitive remarks that were used during our due diligence process, I was repeating comments that were gathered from numerous sources during background conversations and scouting about different players. I repeated those comments during a telephone conversation reviewing the draft and free agency process. Those words do not reflect my views, or words that I would use to describe an individual and I certainly regret it. I apologize to those I offended and to Luol, who I reached out to Monday morning.
In terms of the email that Bruce sent, the situation is disturbing and disappointing on many levels and I understand Bruce's words were offensive.
I am committed to learning from this and deeply regret this situation. I fully understand we have work to do in order to help us create a better organization; one that our players and fans will be proud of, on and off the court, and that is where my focus is moving forward."
Co-owner Michael Gearon, Junior wanted Ferry gone right then and there and told anyone willing to listen that the guy should be out on his ear. A letter dated this June expressed his grave concerns for the franchise if the word got out. The letter was sent to television stations in the market and authenticated anonymously.
The minority partners made their peace in the next-to-last paragraph and the irony oozes from the words on the page:
"If Ferry's comments are ever made public, and it's a safe bet to say they will someday, it could be fatal to the franchise. All of our partners have worked and spent a lot of money not just to make the Hawks winners, but to make our city and region proud of the organization. As lifelong Atlantans with a public track record of diversity and inclusion, we are especially fearful of the unfair consequences when we eventually get thrown under the bus with Ferry."
The HQ has a good idea who made the letter public and it's a safe play that they weren't fans of Ferry's hire in the first place... or Levenson's place as majority owner, either.
And when the I-Team over at MyFoxAtlanta gets a hold of this, you know you're not in a good place.
Atlanta News, Weather, Traffic, and Sports | FOX 5
Hawks COO Steve Koonin maintains that President/GM Danny Ferry will keep his job after he read the backgrounder on Luol Deng aloud two years ago and the word crept out that this event actually did happen.
Ferry released a statement about his mea culpa:
"In regards to the insensitive remarks that were used during our due diligence process, I was repeating comments that were gathered from numerous sources during background conversations and scouting about different players. I repeated those comments during a telephone conversation reviewing the draft and free agency process. Those words do not reflect my views, or words that I would use to describe an individual and I certainly regret it. I apologize to those I offended and to Luol, who I reached out to Monday morning.
In terms of the email that Bruce sent, the situation is disturbing and disappointing on many levels and I understand Bruce's words were offensive.
I am committed to learning from this and deeply regret this situation. I fully understand we have work to do in order to help us create a better organization; one that our players and fans will be proud of, on and off the court, and that is where my focus is moving forward."
Co-owner Michael Gearon, Junior wanted Ferry gone right then and there and told anyone willing to listen that the guy should be out on his ear. A letter dated this June expressed his grave concerns for the franchise if the word got out. The letter was sent to television stations in the market and authenticated anonymously.
The minority partners made their peace in the next-to-last paragraph and the irony oozes from the words on the page:
"If Ferry's comments are ever made public, and it's a safe bet to say they will someday, it could be fatal to the franchise. All of our partners have worked and spent a lot of money not just to make the Hawks winners, but to make our city and region proud of the organization. As lifelong Atlantans with a public track record of diversity and inclusion, we are especially fearful of the unfair consequences when we eventually get thrown under the bus with Ferry."
The HQ has a good idea who made the letter public and it's a safe play that they weren't fans of Ferry's hire in the first place... or Levenson's place as majority owner, either.
And when the I-Team over at MyFoxAtlanta gets a hold of this, you know you're not in a good place.
Atlanta News, Weather, Traffic, and Sports | FOX 5
Monday, September 8, 2014
Hawks Internal Meeting On Deng Exposed Levenson
((HT: Fox News/AJC))
It appears that an internal background report that described a potential free agent pick-up may have sparked the whole "Bruce Levenson is now selling the Atlanta Hawks" turn of events...
A report linked to Luol Deng had some racially-insensitive words attached to it. GM Danny Ferry read the unedited report aloud in the meeting and the Atlanta Journal-Constitution's Chris Vivlamore has the paragraph in question as:
“He is still a young guy overall. He is a good guy overall. But he is not perfect. He’s got some African in him. And I don’t say that in a bad way.”
The background information on Deng had not been vetted appropriately and led to it being read in its entirety. GM Danny Ferry will be disciplined, but not fired for his recitation in the meeting.
The paragraph led to an internal investigation by the team's law firm. The firm then spoke to 19 people and reviewed over 24,000 documents, Hawks CEO Steve Koonin told the AJC over the weekend. It was during the investigation that the Levenson e-mail directed to Ferry and co-owners Ed Peskowitz and Todd Foreman was discovered.
Here's the HQ's alter ego discussing Levenson with FOSG Jonathan Serrie
((ed note--You'll have to click on the link HERE to watch because Fox's Webmaster is having a bad day and didn't code correctly and we can't fix it. --Go to about the 1min mark on the video))
It appears that an internal background report that described a potential free agent pick-up may have sparked the whole "Bruce Levenson is now selling the Atlanta Hawks" turn of events...
A report linked to Luol Deng had some racially-insensitive words attached to it. GM Danny Ferry read the unedited report aloud in the meeting and the Atlanta Journal-Constitution's Chris Vivlamore has the paragraph in question as:
“He is still a young guy overall. He is a good guy overall. But he is not perfect. He’s got some African in him. And I don’t say that in a bad way.”
The background information on Deng had not been vetted appropriately and led to it being read in its entirety. GM Danny Ferry will be disciplined, but not fired for his recitation in the meeting.
The paragraph led to an internal investigation by the team's law firm. The firm then spoke to 19 people and reviewed over 24,000 documents, Hawks CEO Steve Koonin told the AJC over the weekend. It was during the investigation that the Levenson e-mail directed to Ferry and co-owners Ed Peskowitz and Todd Foreman was discovered.
Here's the HQ's alter ego discussing Levenson with FOSG Jonathan Serrie
((ed note--You'll have to click on the link HERE to watch because Fox's Webmaster is having a bad day and didn't code correctly and we can't fix it. --Go to about the 1min mark on the video))
Friday, June 13, 2014
Donald Sterling Hires 4 PI's To Chase After Other NBA Owners
Yeah, this is getting pretty ugly...
Not that the HQ is surprised...
Embattled Los Angeles Clippers owner Donald Sterling has apparently hired four private investigator firms for the next 30 days to dig up dirt on his currently-fellow owners. They have six-figure budgets to dig up as much stuff as they can find on the owners, David Stern, and current commissioner Adam Silver.
It's all part of the billion-dollar case Sterling has against the NBA since they didn't pull back on their $2.5-million fine and lifetime ban around NBA events.
Los Angeles Local News | FOX 11 LA KTTV
The next 30 days are a test for the four firms to see if any of them get to hang around after their first round of dirt-digging to keep digging dirt once Sterling gets to see what they got.
Not that the HQ is surprised...
Embattled Los Angeles Clippers owner Donald Sterling has apparently hired four private investigator firms for the next 30 days to dig up dirt on his currently-fellow owners. They have six-figure budgets to dig up as much stuff as they can find on the owners, David Stern, and current commissioner Adam Silver.
It's all part of the billion-dollar case Sterling has against the NBA since they didn't pull back on their $2.5-million fine and lifetime ban around NBA events.
Los Angeles Local News | FOX 11 LA KTTV
The next 30 days are a test for the four firms to see if any of them get to hang around after their first round of dirt-digging to keep digging dirt once Sterling gets to see what they got.
Tuesday, June 10, 2014
Now, It's Shelly Sterling Heading To Court
((HT: ESPN/KABC-TV))
Shelly, it's your turn...
She will go to probate court to seek an emergency order for a hearing so a judge can confirm that, as representing the Sterling Family Trust, she is the one who can sell the Los Angeles Clippers to Steve Ballmer and that her estranged husband's behavior is still erratic and unrepresentative of the family on the whole.
Shelly Sterling will contend she is the sole trustee of The Sterling Family Trust, which owns the Clippers. Donald Sterling was stripped as co-trustee after, in accordance to Family Trust by-laws, two neurologists determined Donald Sterling was suffering from Alzheimer's and/or dementia and could, therefore, be considered to be “mentally incapacitated.”
Shelly Sterling’s lawyers will ask to confirm the trust by-laws as they are written so the sale can go forward. Donald Sterling can present his side and can appeal any decision in the chain.
“We expect to oppose Shelly’s efforts to take over the trust and sell the team without (Donald Sterling’s) consent,” Maxwell Blecher said in an email to CBS News.
Of course, you do...
Here's the early ideas from when Donald Sterling decided to take his next step...
Shelly, it's your turn...
She will go to probate court to seek an emergency order for a hearing so a judge can confirm that, as representing the Sterling Family Trust, she is the one who can sell the Los Angeles Clippers to Steve Ballmer and that her estranged husband's behavior is still erratic and unrepresentative of the family on the whole.
Shelly Sterling will contend she is the sole trustee of The Sterling Family Trust, which owns the Clippers. Donald Sterling was stripped as co-trustee after, in accordance to Family Trust by-laws, two neurologists determined Donald Sterling was suffering from Alzheimer's and/or dementia and could, therefore, be considered to be “mentally incapacitated.”
Shelly Sterling’s lawyers will ask to confirm the trust by-laws as they are written so the sale can go forward. Donald Sterling can present his side and can appeal any decision in the chain.
“We expect to oppose Shelly’s efforts to take over the trust and sell the team without (Donald Sterling’s) consent,” Maxwell Blecher said in an email to CBS News.
Of course, you do...
Here's the early ideas from when Donald Sterling decided to take his next step...
Monday, June 9, 2014
Donald Sterling Lawsuit Is "Full Speed Ahead" (UPDATED With Sterling Statement)
((HT: Sportsnet/OCRegister-Woike))
Shocking no one...
Maxwell Blecher is telling anyone willing to listen that Donald Sterling is pulling his support for the sale to Steve Ballmer. Sterling wanted assurances that his lifetime ban would be wiped off the books and his $2.5-million fine would be gone as well- and they're not, so he's back to suing the NBA.
From Woike's article, and it seems Sterling's motivation is the new NBA Commissioner Adam Silver:
But that’s not the main reason Sterling reversed course, according to Blecher, who said NBA commissioner Adam Silver’s adamancy in a Sunday press news conference was the primary culprit for Sterling’s change of heart.
Blecher called Silver's handling of the situation, “just plain nasty.”
Silver was concerned about Sterling and said as much to Rachel Nichols in her "Unguarded with Rachel Nichols" program on CNN
Sterling has sent a statement to NBC News that reads in part:
The action taken by Adam Silver and the NBA constitutes a violation of my rights and fly in the face of the freedoms that are afforded to all Americans.
I have decided that I must fight to protect my rights. While my position may not be popular, I believe that my rights to privacy and the preservation of my rights to due process should not be trampled.
I love the team and have dedicated 33 years of my life to the organization. I intend to fight to keep the Team.
Of course, he does...
In addition, Sterling has given his attorneys the go-ahead to chase a billion-dollar federal lawsuit against the league.
Shocking no one...
Maxwell Blecher is telling anyone willing to listen that Donald Sterling is pulling his support for the sale to Steve Ballmer. Sterling wanted assurances that his lifetime ban would be wiped off the books and his $2.5-million fine would be gone as well- and they're not, so he's back to suing the NBA.
From Woike's article, and it seems Sterling's motivation is the new NBA Commissioner Adam Silver:
But that’s not the main reason Sterling reversed course, according to Blecher, who said NBA commissioner Adam Silver’s adamancy in a Sunday press news conference was the primary culprit for Sterling’s change of heart.
Blecher called Silver's handling of the situation, “just plain nasty.”
Silver was concerned about Sterling and said as much to Rachel Nichols in her "Unguarded with Rachel Nichols" program on CNN
Sterling has sent a statement to NBC News that reads in part:
The action taken by Adam Silver and the NBA constitutes a violation of my rights and fly in the face of the freedoms that are afforded to all Americans.
I have decided that I must fight to protect my rights. While my position may not be popular, I believe that my rights to privacy and the preservation of my rights to due process should not be trampled.
I love the team and have dedicated 33 years of my life to the organization. I intend to fight to keep the Team.
Of course, he does...
In addition, Sterling has given his attorneys the go-ahead to chase a billion-dollar federal lawsuit against the league.
Thursday, June 5, 2014
Sterling Agrees To Sell, All Lawsuits Dropped...
((HT: KABC-TV))
And, for this moment in time, the Los Angeles Clippers and the NBA are in one accord...
And we're also waiting for some next move to come from some angle somewhere... which may be why he hadn't signed any documents with any great speed...
Donald Sterling has thrown it in for the moment and the NBA is looking to give the team to Steve Ballmer for two-billion dollars
ESPNLA's Ramona Shelburne, who has been on top of the story from the beginning discusses...
((HT: ESPN))
And, for this moment in time, the Los Angeles Clippers and the NBA are in one accord...
And we're also waiting for some next move to come from some angle somewhere... which may be why he hadn't signed any documents with any great speed...
Donald Sterling has thrown it in for the moment and the NBA is looking to give the team to Steve Ballmer for two-billion dollars
ESPNLA's Ramona Shelburne, who has been on top of the story from the beginning discusses...
((HT: ESPN))
Thursday, May 29, 2014
Mental Incapacitation Gives Sterling Trust Green Light With Ballmer
((HT: MyFoxLA))
From Ramona Shelburne at ESPN again:
Espn has learned that experts had declared Donald Sterling mentally incapacitated, leaving Shelly as sole trustee & power to sell the team
That way, Shelly Sterling didn't need anything resembling her husband's permission to negotiate a deal.
Here's the early thoughts on the deal heading to the NBA office
Los Angeles Local News | FOX 11 LA KTTV
The next move is Donald Sterling's, but he'll have to go after his wife first before chasing the NBA.
From James Rainey, Andrea Chang, and Chris O'Brien:
Bobby Samini, an attorney for co-owner Donald Sterling, said as he left Sterling's home: "There's been no sale. There can be no sale without Donald's signature."
Ah, the layers...
From Ramona Shelburne at ESPN again:
Espn has learned that experts had declared Donald Sterling mentally incapacitated, leaving Shelly as sole trustee & power to sell the team
That way, Shelly Sterling didn't need anything resembling her husband's permission to negotiate a deal.
Here's the early thoughts on the deal heading to the NBA office
Los Angeles Local News | FOX 11 LA KTTV
The next move is Donald Sterling's, but he'll have to go after his wife first before chasing the NBA.
From James Rainey, Andrea Chang, and Chris O'Brien:
Bobby Samini, an attorney for co-owner Donald Sterling, said as he left Sterling's home: "There's been no sale. There can be no sale without Donald's signature."
Ah, the layers...
Donald Sterling Surely Will Be Talking About Rich DeVos (Or First)
((HT: MLive.com))
The HQ is working two tracks here
In addition to the James Rainey piece in the Times about the high bidder that may or may not get the team, reports are that the NBA will hold off on their vote to get rid of Clippers owner Donald Sterling as boss if the Sterlings can agree on the sale and the sale price.
And that's the rub in all of this...
Donald Sterling is looking to make sure that he goes down swinging- at least at this hour.
He was still planning on a lawsuit against the NBA and wants to vet the other NBA owners who he and his attorneys feel have said worse things publicly than he did in private.
The big hook seems to be Orlando Magic owner Rich DeVos an his comments about the gay community. In a 2009 interview with the Grand Rapids Press, reporter Chris Knape talked to DeVos around the 50th anniversary of DeVos' Amway Corporation.
Sterling notes DeVos in his missive to the NBA earlier this week that DeVos "has made highly controversial comments against individuals with HIV/AIDS and generously supports anti-homosexual causes with impugnity (sic)." Shandra Martinez over at MLive talks about the interview in depth hyah.
The HQ is working two tracks here
In addition to the James Rainey piece in the Times about the high bidder that may or may not get the team, reports are that the NBA will hold off on their vote to get rid of Clippers owner Donald Sterling as boss if the Sterlings can agree on the sale and the sale price.
And that's the rub in all of this...
Donald Sterling is looking to make sure that he goes down swinging- at least at this hour.
He was still planning on a lawsuit against the NBA and wants to vet the other NBA owners who he and his attorneys feel have said worse things publicly than he did in private.
The big hook seems to be Orlando Magic owner Rich DeVos an his comments about the gay community. In a 2009 interview with the Grand Rapids Press, reporter Chris Knape talked to DeVos around the 50th anniversary of DeVos' Amway Corporation.
Sterling notes DeVos in his missive to the NBA earlier this week that DeVos "has made highly controversial comments against individuals with HIV/AIDS and generously supports anti-homosexual causes with impugnity (sic)." Shandra Martinez over at MLive talks about the interview in depth hyah.
Wednesday, May 28, 2014
Sterlings Working Both Sides Of The Street: Donald Looks To Sue, Shelly Looks To Sell
((HT: KTLA-TV/ESPNLA))
First, from KTLA's Christina Pascucci, via her Twitter:
#EXCLUSIVE #BREAKING I've learned #DonaldSterling plans to sue @NBA and will likely file suit by end of week
Filed through his attorneys, Blecher, Collins, Pepperman, and Joye the complaint involves the desire for a jury trial on a complaint of "Violations for Denial of Constitutional Rights, Breach of Contract, Antitrust Violations, Conversion, and Breach of Fiduciary Duty" whatever all that means...
At the same time, Shelly Sterling is looking to have all letters of intent in house by the end of business eastern time today and is ready to have Bank of America vet all serious bidders by the end of Thursday.
The LA Times James Rainey has word that Shelly Sterling's term letter calls for a 100-percent stake for the new owners- apparently, giving the impression that she will not be around. All that despite Donald Sterling's intent to stay owner and fight the NBA and his wife in the battle for ownership.
Getting all this...???
Rainey lists the main four to pay attention to as:
A Guggenheim group that includes Oprah Winfrey, Larry Ellison, and David Geffen
A Grant Hill-involved group that includes Ares Management's Tony Ressler and Tribune chairman Bruce Karsh
The Steve Ballmer group
A group of middle eastern investors
Bill Simmons, via his Twitter, maintains that Guggenheim will announce their intent Thursday, but the larger issue may be that the Sterlings want $300-million non-refundable up front of the purchase. That would be some kitty for lawyers as Donald Sterling (and, possibly, Shelly independently) would be in court.
Here's the Dean with Donald Sterling's initial response to the NBA's point-of-view from last night
((HT: NBC Los Angeles))
And, yes, it is now somewhat official as Ramona Shelburne confirms on her Twitter through Blecher that Donald Sterling has changed his mind since the letter to the NBA was sent a week ago.
Blecher says that "On May 22 that’s what [Sterling] wanted to do. But as time has evolved he’s come to a much more hardline position."
First, from KTLA's Christina Pascucci, via her Twitter:
#EXCLUSIVE #BREAKING I've learned #DonaldSterling plans to sue @NBA and will likely file suit by end of week
Filed through his attorneys, Blecher, Collins, Pepperman, and Joye the complaint involves the desire for a jury trial on a complaint of "Violations for Denial of Constitutional Rights, Breach of Contract, Antitrust Violations, Conversion, and Breach of Fiduciary Duty" whatever all that means...
At the same time, Shelly Sterling is looking to have all letters of intent in house by the end of business eastern time today and is ready to have Bank of America vet all serious bidders by the end of Thursday.
The LA Times James Rainey has word that Shelly Sterling's term letter calls for a 100-percent stake for the new owners- apparently, giving the impression that she will not be around. All that despite Donald Sterling's intent to stay owner and fight the NBA and his wife in the battle for ownership.
Getting all this...???
Rainey lists the main four to pay attention to as:
A Guggenheim group that includes Oprah Winfrey, Larry Ellison, and David Geffen
A Grant Hill-involved group that includes Ares Management's Tony Ressler and Tribune chairman Bruce Karsh
The Steve Ballmer group
A group of middle eastern investors
Bill Simmons, via his Twitter, maintains that Guggenheim will announce their intent Thursday, but the larger issue may be that the Sterlings want $300-million non-refundable up front of the purchase. That would be some kitty for lawyers as Donald Sterling (and, possibly, Shelly independently) would be in court.
Here's the Dean with Donald Sterling's initial response to the NBA's point-of-view from last night
((HT: NBC Los Angeles))
And, yes, it is now somewhat official as Ramona Shelburne confirms on her Twitter through Blecher that Donald Sterling has changed his mind since the letter to the NBA was sent a week ago.
Blecher says that "On May 22 that’s what [Sterling] wanted to do. But as time has evolved he’s come to a much more hardline position."
Monday, May 26, 2014
I'll Buy That For A $1.60
((HT: ProSoccerTalk/Bonn))
The first thing that popped into the HQ's collective head when we saw the headline was this:
((HT: Orion Pictures))
But, it now comes forward that the former Premier League club Reading is now up for sale for a pound, but there's a catch...
And that's where the HQ lost interest and couldn't handle it with our coffers.
You have to assume the debt which is either 38-million pounds or $64-million. Majority owner Anton Zingarevich is putting up his 51-percent share that also includes paying a 3.2-million pound tax bill to Her Majesty's Revenue and Customs (HMRC) pretty quickly.
Reading was relegated from the Premier League after the 12-13 season
They finished just out of the Championship playoff play-in this last season with 71 points and a 7th-place wrap in the table.
The first thing that popped into the HQ's collective head when we saw the headline was this:
((HT: Orion Pictures))
But, it now comes forward that the former Premier League club Reading is now up for sale for a pound, but there's a catch...
And that's where the HQ lost interest and couldn't handle it with our coffers.
You have to assume the debt which is either 38-million pounds or $64-million. Majority owner Anton Zingarevich is putting up his 51-percent share that also includes paying a 3.2-million pound tax bill to Her Majesty's Revenue and Customs (HMRC) pretty quickly.
Reading was relegated from the Premier League after the 12-13 season
They finished just out of the Championship playoff play-in this last season with 71 points and a 7th-place wrap in the table.
Friday, May 23, 2014
DEVELOPING: Sterlings Take The Next Step
Surprising no one, Los Angeles Clippers owner Donald Sterling has transferred ownership of the franchise to his wife, Shelly, in their first attempt to keep the NBA from taking the team from them.
Shelly Sterling, per multiple reports will be charged with overseeing the sale of the franchise to a yet-to-be determined buyer.
But, according to Ramona Shelburne who has been on top of this since the beginning, it is still unclear just how much of the Clippers she is willing to sell on orders from her husband. And that's where the semantics kicks in.
From NBA spokesman Mike Bass:
"We continue to follow the process set forth in the NBA Constitution regarding termination of the current ownership interests in the Los Angeles Clippers and are proceeding toward a hearing on this matter on June 3."
James Rainey of the LA Times discusses how the V.Stiviano/Sterling relationship brought all of this stuff forward very quickly with Steve Edwards of "Good Day LA"
((HT: MyFoxLA))
Los Angeles Local News | FOX 11 LA KTTV
Shelly Sterling, per multiple reports will be charged with overseeing the sale of the franchise to a yet-to-be determined buyer.
But, according to Ramona Shelburne who has been on top of this since the beginning, it is still unclear just how much of the Clippers she is willing to sell on orders from her husband. And that's where the semantics kicks in.
From NBA spokesman Mike Bass:
"We continue to follow the process set forth in the NBA Constitution regarding termination of the current ownership interests in the Los Angeles Clippers and are proceeding toward a hearing on this matter on June 3."
James Rainey of the LA Times discusses how the V.Stiviano/Sterling relationship brought all of this stuff forward very quickly with Steve Edwards of "Good Day LA"
((HT: MyFoxLA))
Los Angeles Local News | FOX 11 LA KTTV
Tuesday, April 29, 2014
Sterling: Clips Aren't For Sale... Game On...
((HT: Fox News Channel))
Not shocking the HQ at all is the nugget out of the conversation Jim Gray had before NBA Commissioner Adam Silver came to the dais.
The next step is early on, thanks the Big Lead via Mike Sham...
The Big Lead story is hyah...
The HQ has always thought that the current owner of the Clippers wasn't going down without a fight...
And it looks like this attribution, if accurate, is the equivalent of "just bring it..."
Donald Sterling's ego, and it's history, have always been known to want to be in the spotlight.
This will be no different and he will go down in flames...
The Board of Governors will need 22 of the current 30 ownership groups to vote for an ouster. Commissioner Silver feels he'll be getting those votes without much of an issue...
Except, for the owner not wanting to yield...
Not shocking the HQ at all is the nugget out of the conversation Jim Gray had before NBA Commissioner Adam Silver came to the dais.
The next step is early on, thanks the Big Lead via Mike Sham...
The Big Lead story is hyah...
The HQ has always thought that the current owner of the Clippers wasn't going down without a fight...
And it looks like this attribution, if accurate, is the equivalent of "just bring it..."
Donald Sterling's ego, and it's history, have always been known to want to be in the spotlight.
This will be no different and he will go down in flames...
The Board of Governors will need 22 of the current 30 ownership groups to vote for an ouster. Commissioner Silver feels he'll be getting those votes without much of an issue...
Except, for the owner not wanting to yield...
Tuesday, April 15, 2014
Trump Still Serious About Bills Investment
((HT: WIVB-TV))
And Donald Trump has even said that he will divest himself of his casino interests if he is considered to be a substantial partner or principal owner of the Buffalo Bills.
Trump claims that the Bills are vital to the fabric to western New York and he would keep them there.
Here's a peek at how serious he may be... despite the appropriate skepticism
And here...
((HT: WGRZ-TV))
A Trump attorney has said that, even with a twelve-figure pricetag, the Donald could afford it...
That would be an interesting divestiture...
And Donald Trump has even said that he will divest himself of his casino interests if he is considered to be a substantial partner or principal owner of the Buffalo Bills.
Trump claims that the Bills are vital to the fabric to western New York and he would keep them there.
Here's a peek at how serious he may be... despite the appropriate skepticism
And here...
((HT: WGRZ-TV))
A Trump attorney has said that, even with a twelve-figure pricetag, the Donald could afford it...
That would be an interesting divestiture...
Friday, March 28, 2014
Charles Wang Looking To Sell The Islanders...???
New York Islanders owner Charles Wang is talking to potential buyers about selling the majority of his stake in the team.
TSN's Bob McKenzie Tweeted this out shortly after midnight:
NYI owner Charles Wang in talks to sell majority stake in NHL franchise. Nothing done yet, no telling if it gets done, but talks underway.
The franchise loses eight-figures a year. Josh Kosman over at the New York Post, reported over a year ago, that Wang was looking at the Raine Group to kick the tires on a sale. IN the same article, Kosman says that Wang and the Islanders face a $75 million loan repayment at the end of this season.
Wang has been the Islanders' majority stakeholder since 2004, when he bought out the share of business partner Sanjay Kumar. He wanted to (and rightfully so) get the team out of the craphole that is the Nassau Coliseum. Wang suggested a multi-billion dollar redevelopment of commercial, residential, and athletic space called the Lighthouse Project.
The measure failed after almost a decade of debate on the Island and Wang's frustration has been evident since.
The Islanders are set to move to the Barclays Center for the start of the 2015-16 season. Here was an interview Wang did with Mike Francesa at the time of the announcement
((HT: YES Network))
Islanders fans seem excited about the deal moving the team in town...
TSN's Bob McKenzie Tweeted this out shortly after midnight:
NYI owner Charles Wang in talks to sell majority stake in NHL franchise. Nothing done yet, no telling if it gets done, but talks underway.
The franchise loses eight-figures a year. Josh Kosman over at the New York Post, reported over a year ago, that Wang was looking at the Raine Group to kick the tires on a sale. IN the same article, Kosman says that Wang and the Islanders face a $75 million loan repayment at the end of this season.
Wang has been the Islanders' majority stakeholder since 2004, when he bought out the share of business partner Sanjay Kumar. He wanted to (and rightfully so) get the team out of the craphole that is the Nassau Coliseum. Wang suggested a multi-billion dollar redevelopment of commercial, residential, and athletic space called the Lighthouse Project.
The measure failed after almost a decade of debate on the Island and Wang's frustration has been evident since.
The Islanders are set to move to the Barclays Center for the start of the 2015-16 season. Here was an interview Wang did with Mike Francesa at the time of the announcement
((HT: YES Network))
Islanders fans seem excited about the deal moving the team in town...
Tuesday, June 18, 2013
Got $3.2M Laying Around...? Wanna Buy Chipper's House...???
((HT: 11Alive.com))
Said in our best realtor voice...
"The 23,504-square-foot home is on 2-point-5 acres in the Glenayre gated community. It has seven bedrooms, eight full bathrooms, three half bathrooms, three kitchens, two wet bars, one full bar, six-car garage and pool.
The listing agent is Carter Smith with Professional Realty Group, Incorporated."
Here's your tour...
The HQ actually knows one of the agents that gets to show the place, and we'll keep you posted...
Said in our best realtor voice...
"The 23,504-square-foot home is on 2-point-5 acres in the Glenayre gated community. It has seven bedrooms, eight full bathrooms, three half bathrooms, three kitchens, two wet bars, one full bar, six-car garage and pool.
The listing agent is Carter Smith with Professional Realty Group, Incorporated."
Here's your tour...
The HQ actually knows one of the agents that gets to show the place, and we'll keep you posted...
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