((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 sale. Show all posts
Showing posts with label sale. Show all posts
Friday, January 2, 2015
Thursday, November 27, 2014
Quebecor Buys Remparts: Is This The First Step...???
((HT: Montreal Gazette))
The HQ believes it is, yes...
For a reported $20-25 million pricetag, Quebecor Media has picked up the QMJHL's Quebec Remparts franchise and will move them into their soon-to-be-constructed Quebecor Arena in September 2015.
This should be the first step in proving, once and for all, that the city is ready for multiple franchises on multiple levels in an integrated fashion not seen yet (top to bottom) in a franchise farm system.
"The Remparts organization has passion, hard work and success in its DNA. We are honoured to become its owners, and we want to continue this ‘sacred’ tradition by keeping the Remparts at the same level of excellence while providing the best possible experience for Quebec City hockey fans,” said Québecor president and CEO Pierre Dion.
The Remparts have been busy in the past week doing things like this against Sherbrooke
((HT: HockeyFightsPlus))
They're currently third in the East Division- four points out of first behind Rimouski and Baie-Comeau.
“I am very happy to see that the Remparts will have the chance to inaugurate the new arena next season and continue the Vieille Capitale’s great junior hockey tradition,” said Quebec Major Junior Hockey League commissioner Gilles Courteau.
The HQ believes it is, yes...
For a reported $20-25 million pricetag, Quebecor Media has picked up the QMJHL's Quebec Remparts franchise and will move them into their soon-to-be-constructed Quebecor Arena in September 2015.
This should be the first step in proving, once and for all, that the city is ready for multiple franchises on multiple levels in an integrated fashion not seen yet (top to bottom) in a franchise farm system.
"The Remparts organization has passion, hard work and success in its DNA. We are honoured to become its owners, and we want to continue this ‘sacred’ tradition by keeping the Remparts at the same level of excellence while providing the best possible experience for Quebec City hockey fans,” said Québecor president and CEO Pierre Dion.
The Remparts have been busy in the past week doing things like this against Sherbrooke
((HT: HockeyFightsPlus))
They're currently third in the East Division- four points out of first behind Rimouski and Baie-Comeau.
“I am very happy to see that the Remparts will have the chance to inaugurate the new arena next season and continue the Vieille Capitale’s great junior hockey tradition,” said Quebec Major Junior Hockey League commissioner Gilles Courteau.
Saturday, October 11, 2014
The Coyotes Have A New Majority Owner, Are They On The Clock In Glendale?
((HT: AZCentral))
Depending on who you talk to these days, either thePhoenix Arizona Coyotes are either half-way to their $50-million loss figure for the escape clause to kick in or everything is fine, the team is losing money, and they're staying anyway.
Either way, this seems to be the league approach to keeping a team there when the league could be served better someplace else
Coyotes president Anthony Leblanc values his team around $300-million and he is selling 51-percent to Philadelphia hedge fund guru Andrew Barroway for something in the neighborhood of $152.5-million.
The Ice Edge guys had an escape clause built into their new deal with the city of Glendale that specified if the team was hemorrhaging money they could leave. Glendale agreed last year to pay the Coyotes $15 million annually to manage the arena- and that isn't helping, either. Revenue from parking and concerts paid to the city in return has so far fallen short of projections. If Barroway's name is familiar to you, it should be. He has had interest in both the Islanders and the Devils before getting this deal.
Reason being- and the HQ has witnessed this first hand- the Glendale City Center is a mixed-use development that has fallen well short of occupancy in the business and residential aspects of the project. It takes far too long to get there from the Phoenix downtown area under normal circumstances and, Gawd forbid, you work in Phoenix and thought you would live in Glendale.
It's just not a feasible suburban location for something to work...
Ice Edge's financing issues came to the fore again just before the season started when it was disclosed that they were sending Max Domi back to juniors so they wouldn't have to pay his entry level salary instead of keeping him up with the parent club so the team could have another scoring threat.
Oh, well...
Here's The Bettman discussing everything Arizona
Apparently, having Barroway involved gives the Coyotes a better interest rate with the NHL credit lines and gets them to wipe out a debt with a previous investment group and, also, may give the team an extra $9-million- which might bring Domi back to the parent club sooner rather than later.
But the HQ still believes that the Coyotes would be better served in the pacific northwest and the Florida Panthers would be better served in Quebec City.
But, that's just us thinking about relocation instead of the poo-pooed expansion talk from the Commissioner earlier this week.
Depending on who you talk to these days, either the
Either way, this seems to be the league approach to keeping a team there when the league could be served better someplace else
Coyotes president Anthony Leblanc values his team around $300-million and he is selling 51-percent to Philadelphia hedge fund guru Andrew Barroway for something in the neighborhood of $152.5-million.
The Ice Edge guys had an escape clause built into their new deal with the city of Glendale that specified if the team was hemorrhaging money they could leave. Glendale agreed last year to pay the Coyotes $15 million annually to manage the arena- and that isn't helping, either. Revenue from parking and concerts paid to the city in return has so far fallen short of projections. If Barroway's name is familiar to you, it should be. He has had interest in both the Islanders and the Devils before getting this deal.
Reason being- and the HQ has witnessed this first hand- the Glendale City Center is a mixed-use development that has fallen well short of occupancy in the business and residential aspects of the project. It takes far too long to get there from the Phoenix downtown area under normal circumstances and, Gawd forbid, you work in Phoenix and thought you would live in Glendale.
It's just not a feasible suburban location for something to work...
Ice Edge's financing issues came to the fore again just before the season started when it was disclosed that they were sending Max Domi back to juniors so they wouldn't have to pay his entry level salary instead of keeping him up with the parent club so the team could have another scoring threat.
Oh, well...
Here's The Bettman discussing everything Arizona
Apparently, having Barroway involved gives the Coyotes a better interest rate with the NHL credit lines and gets them to wipe out a debt with a previous investment group and, also, may give the team an extra $9-million- which might bring Domi back to the parent club sooner rather than later.
But the HQ still believes that the Coyotes would be better served in the pacific northwest and the Florida Panthers would be better served in Quebec City.
But, that's just us thinking about relocation instead of the poo-pooed expansion talk from the Commissioner earlier this week.
Wednesday, October 8, 2014
Pegulas Approved As New Bills Owners
((HT: WIVB-TV))
To the tune of $1.4-billion...
The Pegulas needed three-quarters majority approval from the other NFL 31 owners plus the Wilson Family Trust. Ralph Wilson Jr. died back in late March and bids were taken in July.
Bidders included Rogers Communications with Jon Bon Jovi as front man, Donald Trump, and the Pegulas.
On September 8, they submitted their final bid. It turned out to be the highest sale price for a team in league history.
The Pegulas also own the Buffalo Sabres and are looking to build a new lakefront development to incorporate a Bills arena, entertainment complex, and hopefully a new football stadium.
Here's part of the wait from New York City
The Pegulas will be using a wire transfer to take care of the sale price.
The funny part is that there is a $25 fee that goes with the money attachment and the Trust can't take checks...
To the tune of $1.4-billion...
The Pegulas needed three-quarters majority approval from the other NFL 31 owners plus the Wilson Family Trust. Ralph Wilson Jr. died back in late March and bids were taken in July.
Bidders included Rogers Communications with Jon Bon Jovi as front man, Donald Trump, and the Pegulas.
On September 8, they submitted their final bid. It turned out to be the highest sale price for a team in league history.
The Pegulas also own the Buffalo Sabres and are looking to build a new lakefront development to incorporate a Bills arena, entertainment complex, and hopefully a new football stadium.
Here's part of the wait from New York City
The Pegulas will be using a wire transfer to take care of the sale price.
The funny part is that there is a $25 fee that goes with the money attachment and the Trust can't take checks...
Sunday, September 7, 2014
DEVELOPING: Levenson To Sell Hawks Interest After "Racist E-Mail" Discovered (UPDATED With E-Mail))
((HT: Yahoo!Sports-Wojnarowski))
The Atlanta Hawks are the schleprock of the NBA...
No matter who the owner is and how much alleged investment is involved and/or promised to the community, nothing has changed since the days of Ted Turner being the media mogul/magnate and the days of Dominique versus Larry Bird.
The destination is as undesirable as you can get. The fan base small at best and the town is apathetic toward the franchise since the cirle of life lends itself to no marquee players- which means there is little reason to wander to a downtown arena in a mediocre conference where playoff appearances are, literally, assured and the team has to overpay to bring talent in- or get them to stay.
Remember Joe Johnson...???
So, when Adrian Wojnarowski announced on his Twitter feed that Levenson was selling, the HQ has the distinct feeling that some other action was on the cusp of happening (oh, like, a lawsuit or something...) and Levenson is out...
Commissioner Adam Silver released the following statement once the e-mail was discovered...
An e-mail written in 2012...
“Following Bruce Levenson notifying the league office this July of his August 2012 email, the NBA commenced an independent investigation regarding the circumstances of Mr. Levenson’s comments.
Prior to the completion of the investigation, Mr. Levenson notified me last evening that he had decided to sell his controlling interest in the Atlanta Hawks. As Mr. Levenson acknowledged, the views he expressed are entirely unacceptable and are in stark contrast to the core principles of the National Basketball Association. He shared with me how truly remorseful he is for using those hurtful words and how apologetic he is to the entire NBA family – fans, players, team employees, business partners and fellow team owners – for having diverted attention away from our game.
I commend Mr. Levenson for self-reporting to the league office, for being fully cooperative with the league and its independent investigator, and for putting the best interests of the Hawks, the Atlanta community, and the NBA first.
We will be working with the Hawks ownership group on the appropriate process for the sale of the team and I have offered our full support to Hawks CEO Steve Koonin, who will now oversee all team operations.
The NBA and its teams have long had in place anti-harassment and anti-discrimination policies in order to facilitate respectful and diverse workplaces. Earlier this summer, the league re-doubled its efforts by, among other things, making it mandatory for all league and team personnel to receive annual training on these issues."
Levenson issued a statement where he touched on what was said as he was trying to figure out:
ways to increase attendance at games:
"In trying to address those issues, an e-mail I wrote 2 years ago that was inappropriate and offensive. I trivialized our fans by making cliched assumptions about their interests and by stereotyping their assumptions about one another."
"By focusing on race, I also sent the unintentional and hurtful message that our white fans are more valuable than our black fans."
"If you're angry about what I wrote, you should be. I'm angry at myself, too. It was inflammatory nonsense. We all may have subtle biases and preconceptions when it comes to race, but my role as a leader is to challenge them, not to validate or accommodate those who might hold them."
The Hawks, and their interim CEO Steve Koonin released their own statement:
To the City of Atlanta and Hawks Fans,
Today’s statement from Controlling Owner Bruce Levenson is extremely disappointing and the email that he sent over two years ago was alarming, offensive and most of all, completely unacceptable and does not reflect the principles and values of the Hawks organization. In partnership with the NBA, we will work to ensure that a new ownership team will be put in place that is united and committed to the Atlanta community.
Steve Koonin
CEO, Atlanta Hawks
It marks the next, and now, last involvement of the Atlanta Spirit, LLC group in this market that has been nothing short of an absymal failure on multiple levels- arena, ownership, legal battles, behind-the-scenes desires to sell, the loss of a hockey franchise, and now "racist" e-mails that are sending them out of town on rail...
But far too late for any of it to matter as, the HQ is certain, there are very few tears shed...
Exhibit A being below...
((HT: Sportsnet))
For the record, here's a link to the full e-mail which says in part:
My theory is that the black crowd scared away the whites and there are simply not enough affluent
black fans to build a signficant season ticket base. Please dont get me wrong. There was nothing
threatening going on in the arean back then. i never felt uncomfortable, but i think southern whites
simply were not comfortable being in an arena or at a bar where they were in the minority. On fan sites i
would read comments about how dangerous it is around philips yet in our 9 years, i don't know of a
mugging or even a pick pocket incident. This was just racist garbage. When I hear some people saying
the arena is in the wrong place I think it is code for there are too many blacks at the games.
I have been open with our executive team about these concerns. I have told them I want some white
cheerleaders and while i don't care what the color of the artist is, i want the music to be music familiar
to a 40 year old white guy if that's our season tixs demo. i have also balked when every fan picked out of
crowd to shoot shots in some time out contest is black. I have even bitched that the kiss cam is too
black.
Not good...
The Atlanta Hawks are the schleprock of the NBA...
No matter who the owner is and how much alleged investment is involved and/or promised to the community, nothing has changed since the days of Ted Turner being the media mogul/magnate and the days of Dominique versus Larry Bird.
The destination is as undesirable as you can get. The fan base small at best and the town is apathetic toward the franchise since the cirle of life lends itself to no marquee players- which means there is little reason to wander to a downtown arena in a mediocre conference where playoff appearances are, literally, assured and the team has to overpay to bring talent in- or get them to stay.
Remember Joe Johnson...???
So, when Adrian Wojnarowski announced on his Twitter feed that Levenson was selling, the HQ has the distinct feeling that some other action was on the cusp of happening (oh, like, a lawsuit or something...) and Levenson is out...
Commissioner Adam Silver released the following statement once the e-mail was discovered...
An e-mail written in 2012...
“Following Bruce Levenson notifying the league office this July of his August 2012 email, the NBA commenced an independent investigation regarding the circumstances of Mr. Levenson’s comments.
Prior to the completion of the investigation, Mr. Levenson notified me last evening that he had decided to sell his controlling interest in the Atlanta Hawks. As Mr. Levenson acknowledged, the views he expressed are entirely unacceptable and are in stark contrast to the core principles of the National Basketball Association. He shared with me how truly remorseful he is for using those hurtful words and how apologetic he is to the entire NBA family – fans, players, team employees, business partners and fellow team owners – for having diverted attention away from our game.
I commend Mr. Levenson for self-reporting to the league office, for being fully cooperative with the league and its independent investigator, and for putting the best interests of the Hawks, the Atlanta community, and the NBA first.
We will be working with the Hawks ownership group on the appropriate process for the sale of the team and I have offered our full support to Hawks CEO Steve Koonin, who will now oversee all team operations.
The NBA and its teams have long had in place anti-harassment and anti-discrimination policies in order to facilitate respectful and diverse workplaces. Earlier this summer, the league re-doubled its efforts by, among other things, making it mandatory for all league and team personnel to receive annual training on these issues."
Levenson issued a statement where he touched on what was said as he was trying to figure out:
ways to increase attendance at games:
"In trying to address those issues, an e-mail I wrote 2 years ago that was inappropriate and offensive. I trivialized our fans by making cliched assumptions about their interests and by stereotyping their assumptions about one another."
"By focusing on race, I also sent the unintentional and hurtful message that our white fans are more valuable than our black fans."
"If you're angry about what I wrote, you should be. I'm angry at myself, too. It was inflammatory nonsense. We all may have subtle biases and preconceptions when it comes to race, but my role as a leader is to challenge them, not to validate or accommodate those who might hold them."
The Hawks, and their interim CEO Steve Koonin released their own statement:
To the City of Atlanta and Hawks Fans,
Today’s statement from Controlling Owner Bruce Levenson is extremely disappointing and the email that he sent over two years ago was alarming, offensive and most of all, completely unacceptable and does not reflect the principles and values of the Hawks organization. In partnership with the NBA, we will work to ensure that a new ownership team will be put in place that is united and committed to the Atlanta community.
Steve Koonin
CEO, Atlanta Hawks
It marks the next, and now, last involvement of the Atlanta Spirit, LLC group in this market that has been nothing short of an absymal failure on multiple levels- arena, ownership, legal battles, behind-the-scenes desires to sell, the loss of a hockey franchise, and now "racist" e-mails that are sending them out of town on rail...
But far too late for any of it to matter as, the HQ is certain, there are very few tears shed...
Exhibit A being below...
((HT: Sportsnet))
For the record, here's a link to the full e-mail which says in part:
My theory is that the black crowd scared away the whites and there are simply not enough affluent
black fans to build a signficant season ticket base. Please dont get me wrong. There was nothing
threatening going on in the arean back then. i never felt uncomfortable, but i think southern whites
simply were not comfortable being in an arena or at a bar where they were in the minority. On fan sites i
would read comments about how dangerous it is around philips yet in our 9 years, i don't know of a
mugging or even a pick pocket incident. This was just racist garbage. When I hear some people saying
the arena is in the wrong place I think it is code for there are too many blacks at the games.
I have been open with our executive team about these concerns. I have told them I want some white
cheerleaders and while i don't care what the color of the artist is, i want the music to be music familiar
to a 40 year old white guy if that's our season tixs demo. i have also balked when every fan picked out of
crowd to shoot shots in some time out contest is black. I have even bitched that the kiss cam is too
black.
Not good...
Monday, July 7, 2014
Sterling Trial Delayed: Donald Wants A Federal Court Date
((HT: KABC-TV))
It's called "procedural limbo..."
Donald Sterling's attorneys are looking to move the competency trial to a federal location instead of the Los Angeles District Court. Sterling wants the federal court to determine if his privacy was violated when his medical records were given to his wife, Shelly.
The judgment will determine whether or not Shelly Sterling has (or even had) the authority to negotiate a sale of the Clippers on behalf of the family trust or if the privacy violation wipes all of those activities out.
Donald Sterling maintains he was "tricked" into the examination and that the information has no bearing on his capacity to manage, own, or even execute day-to-day operations of the franchise.
Here's the early thoughts from Los Angeles...
The deadline for the sale is supposed to be by July 15th.
It's called "procedural limbo..."
Donald Sterling's attorneys are looking to move the competency trial to a federal location instead of the Los Angeles District Court. Sterling wants the federal court to determine if his privacy was violated when his medical records were given to his wife, Shelly.
The judgment will determine whether or not Shelly Sterling has (or even had) the authority to negotiate a sale of the Clippers on behalf of the family trust or if the privacy violation wipes all of those activities out.
Donald Sterling maintains he was "tricked" into the examination and that the information has no bearing on his capacity to manage, own, or even execute day-to-day operations of the franchise.
Here's the early thoughts from Los Angeles...
The deadline for the sale is supposed to be by July 15th.
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
Monday, May 5, 2014
LA Mayor Thinks Sterling Will Fight For Clippers
((HT: CBS News/Face The Nation))
Shocking no one, really, the mayor of Los Angeles, Eric Garcetti thinks that current Los Angeles Clippers owner Donald Sterling will hang on to the NBA franchise in a very protracted battle...
Garcetti made these remarks on the Sunday morning talk show circuit...
Here's Bob Schieffer with Garcetti
Shocking no one, really, the mayor of Los Angeles, Eric Garcetti thinks that current Los Angeles Clippers owner Donald Sterling will hang on to the NBA franchise in a very protracted battle...
Garcetti made these remarks on the Sunday morning talk show circuit...
Here's Bob Schieffer with Garcetti
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 22, 2014
Here's One For You, Seattle... Think 2017...
((HT: Fox6now.com/Milwaukee Business Journal-Kirchen))
The clock is ticking on Milwaukee and the Bucks- whether they know it or not...
According to Fox 6 in Milwaukee, if Senator Herb Kohl and the two hedge fund guys buying the franchise from Kohl can't pony up another $200-million for a new arena, the NBA can buy the team back from whoever the owner is in 2017 for $575-million.
And the HQ is sure the team won't be on the market for long...
Just ask Chris Hansen and the folks in Seattle how interested they'd be in snapping them up if it all falls apart...
Wes Edens and Marc Lasry are supposedly picking up the franchise for $550 million, but the Bradley Center is thought of as "too small" since it was opened in 1988. NBA commissioner Adam Silver confirmed in September 2013 that the league had given Kohl the 2017 deadline...
From Kirchen:
Kohl pledged $100 million and the prospective owners another $100 million toward arena construction. A new arena would cost an estimated $400 million to $500 to build.
Leading arena supporter Tim Sheehy, president of the Metropolitan Milwaukee Association of Commerce, said after the sale announcement he believes public funding will be necessary for a new arena. MMAC also is working to attract additional contributions from private individuals and foundations to minimize public funding.
Brewers owner Mark Attanasio has even said he would contribute to the process...
Here's the first time of (probably) many the question will be addressed for the next few years...
((HT: WTMJ-TV))
The clock is ticking on Milwaukee and the Bucks- whether they know it or not...
According to Fox 6 in Milwaukee, if Senator Herb Kohl and the two hedge fund guys buying the franchise from Kohl can't pony up another $200-million for a new arena, the NBA can buy the team back from whoever the owner is in 2017 for $575-million.
And the HQ is sure the team won't be on the market for long...
Just ask Chris Hansen and the folks in Seattle how interested they'd be in snapping them up if it all falls apart...
Wes Edens and Marc Lasry are supposedly picking up the franchise for $550 million, but the Bradley Center is thought of as "too small" since it was opened in 1988. NBA commissioner Adam Silver confirmed in September 2013 that the league had given Kohl the 2017 deadline...
From Kirchen:
Kohl pledged $100 million and the prospective owners another $100 million toward arena construction. A new arena would cost an estimated $400 million to $500 to build.
Leading arena supporter Tim Sheehy, president of the Metropolitan Milwaukee Association of Commerce, said after the sale announcement he believes public funding will be necessary for a new arena. MMAC also is working to attract additional contributions from private individuals and foundations to minimize public funding.
Brewers owner Mark Attanasio has even said he would contribute to the process...
Here's the first time of (probably) many the question will be addressed for the next few years...
((HT: WTMJ-TV))
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...
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