Jump to content
The Official Site of the Carolina Hurricanes
Sign in to follow this  
MinJaBen

Carolina Hurricanes Sold

Recommended Posts

13 hours ago, LakeLivin said:

I'd be amazed if a deal closed around the start of the season, though.

Depends on how much legwork got done before this point. Assuming there's been mutual understanding and agreement on the key points in the draft deal - and the deal typically doesn't go to the suits until that's true - the timeline of end August is perfectly reasonable.

 

Whatever we want to say about PK's comments, maybe a week has passed since he made them and the deal went to final review.  

Share this post


Link to post
Share on other sites

I'm wondering what they mean the deal could "close" by the end of August or before the season. My understanding is that the NHL must approve the sale before it is official and that the board of governors next meeting isn't until December. Anyone know from past history if they would move that meeting up or schedule an emergency meeting to allow that sale review to meet these estimated timelines?

Share this post


Link to post
Share on other sites
40 minutes ago, MinJaBen said:

I'm wondering what they mean the deal could "close" by the end of August or before the season. My understanding is that the NHL must approve the sale before it is official and that the board of governors next meeting isn't until December. Anyone know from past history if they would move that meeting up or schedule an emergency meeting to allow that sale review to meet these estimated timelines?

From what I'm seeing online, the BOG only appears to meet as scheduled, June and December. Which makes sense when you're trying to get 30 busy people in one room at the same time. So my guess is that by "close" the deal, they mean all parties directly involved in attaining and removing themselves from ownership will sign the papers. Then the buying group submits a proposal (application) to by to the BOG.

 

Barring yuuuuuge red flags, BOG approval is pretty much a formality. In fact, the Islanders' sale in 2014 wasn't even on the agenda of the meeting at which it occurred. The last denial of a sale application to a single applicant that I could find in my (admittedly) short search was in 1983, when the former owner of a WHA team wanted to buy the Blues and move them to Saskatoon. Another denial (Arizona) came in 2009, when Jerry Reinsdorf got the nod over Jim Balsillie, a Canadian billionaire. But again, that was a competitive app (more than one applicant).

 

I would guess that the larger the group, the better the odds of approval, since it indicates broader "wherewithal," a key consideration (according to Bettman).

Edited by top-shelf-1

Share this post


Link to post
Share on other sites

Share this post


Link to post
Share on other sites

Everything should have been red lined and agreed upon by now.  I also don't like to hear the terms "looking for an investor.".  That leads me to believe he doesn't have the money on hand.  Anyways, I am of the opinion that if a deal were to happen, it would happen before the season begins.  I will go on record for stating that if a deal does not happen between now and this Saturday, it will not happen at all.

Share this post


Link to post
Share on other sites
4 hours ago, coastal_caniac said:

I've never bought a pro franchise.

 

 

What happened to all that gold you stole from that French bank, Oddball?

Share this post


Link to post
Share on other sites

Huh? Who me?

 

That Island has taken a beating, but just might be due for another look! Could have had it cheap, but now? Prices are rising!!

Share this post


Link to post
Share on other sites
7 minutes ago, KJUNKANE said:

What, you didn't sell it off to Greenberg? Good, I'll take a place again this year?

No I'm messing with him to get the price up some more. 

 

I keed...I keed.

  • Like 1

Share this post


Link to post
Share on other sites
3 hours ago, KJUNKANE said:

No, he more likely used it to purchase rem's island?

 

No, I didn't.

 

I actually bought a bridge.

 

If I want an island, I'll find my own, and one that's groovy.

Edited by coastal_caniac

Share this post


Link to post
Share on other sites

I knew Oddball loves bridges. He searched forever for one to take out with the tank, finally found one only to have two planes bomb it out before he had a chance. The island would have to have" NO Negative Waves"

Edited by slapshot02

Share this post


Link to post
Share on other sites

Though I thought they'd try to announce that it was done before the season to generate excitement, there are compelling reasons not to: (1) the sale can't be completed until the league approves, which can't happen 'til the BOG meets in December; and (2) waiting makes it easier for Greenberg to keep raising money. An announcement could take the wind out of his efforts to get as many investors as possible; those who were on the fence might decide their funds aren't needed. The first rule of acquisitions? You can't have too many investors.

 

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...