Updated: New ownership(s) in the works?
At this point, here is what I can report on the ongoing Thrashers ownership issue. According to people familiar with the situation there are two investment groups that are progressing in an effort to buy the Hawks, Thrashers and Philips Arena and will keep the Thrashers in Atlanta.
A deal is not close in either case as proper paperwork has not been filed to begin serious negotiations. However, at least one group has met with the officials from the NBA and the NHL. The meeting with the NHL was Thursday.
In one of the prospective groups there is one main investor with others in the group, some of whom are from Atlanta. The group is not only interested in purchasing the three properties but there is a “development element” to the deal, possibly involving the area around the arena.
The Hawks, Thrashers and Philips Arena have been for sale and groups have expressed interest in buying the Thrashers and moving them to another city. Canadian cities Winnipeg, Quebec and Hamilton have long been rumored to be a possible destination.
As far as a timetable on such a deal, according to sources it would take at least a month to complete their due diligence on the proposal and at least another month to complete negotiations.
This is not the group involved with Atlanta native Stephen Rollins. That group is said to still be interested but a formal bid has not been made at this point.
I am continuing to work on this story in my best effort to make sure it is 100 percent accurate. Understand that I am only reporting that two new group have expressed interest in purchasing the teams and arena from the Atlanta Spirit and is progressing in its effort. There is a long way to go but it appears that the situation has progressed beyond the point of someone “kicking the tires.”
Stay tuned.
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231 comments Add your comment
Iron League 13
February 25th, 2011
11:39 am
I should say past mediocrity when referring to Phoenix.
Get Real
February 25th, 2011
11:40 am
Atlanta teams are doomed as long as they are used to prop up the downtown area….move the teams to where the support is and let them prosper…as long as they are not owned by clowns!
Tom
February 25th, 2011
11:42 am
Hey Stroz, did not mean to jump over your line on the Islanders. I wrote my comment from the 1st page.
Mooseberg
February 25th, 2011
11:43 am
Phoenix has kinda the same issue Atlanta does in that most of the hockey fans grew up a fan of another team. In Atlanta they are perm residents, in Phoenix they are mostly snowbirds. They aren’t there for the whole hockey season so they aren’t going to buy season tickets which means they will only go to games(for the most part) if their team is in town.
ryan
February 25th, 2011
11:43 am
Well Usher was a part owner of Cleveland Cavilers so he does have some experience i wonder if Tyler Perry is involved to .
This is what I heard
February 25th, 2011
11:45 am
For what its worth, working inside the media I have been told that this group is made up of Ludacris the rapper, Usher and…..wait for it….Justin Beiber, who, apprarently being Canadian loves hockey. I have also been told that the commercial property surrounding the area and its usage allowances is the crux of this deal moving past the exploritory phase and that this somethiing that “looks better a chance to happen than not.” Again, for what its worth and usually I am not the one to come on a public forum and parade a bunch of rumors, but, to be perfectly honest, I feel for fans of these two franchises and what they have been through and love this city and hope that a little good news may console fans enough to keep the spirit alive (no pun intended) thus giving these potential buyers a product that looks more promising than an empty building. Again, for all thats worth.
Tom
February 25th, 2011
11:47 am
If the new ownership can get access to a parking facility such as the Gulch and upgrade it for both parking and mixed use near the convention center, that would be huge.
One of the biggest problems with the Convention Center, Dome, and Phillips is the lack of an entertainment complex nearby. People come to the events and then quickly disperse. If ownership could capture parking dollars, entertainment dollars via rent for all the events in the complex it would be very profitable.
The additional income, or even loss from owning the teams, would be mitigated.
In fact, this could be the carrot for bringing in Arthur Blank as he would be a participant of capturing the profits from the Falcons.
Interesting times…
Iron League 13
February 25th, 2011
11:48 am
Get Real – Get real (sorry I had to and I’m not serious). With Philips only being about 12 years old that WILL NOT happen for another decade or so, no way. So I agree some where along the northern perimeter would be best it’s a long way from happening.
I am taking Over
February 25th, 2011
11:48 am
Who cares. The NBA is full of baby making thugs and nobody in the south understands Hockey so let both tesms leave town.
Iron League 13
February 25th, 2011
11:48 am
somewhere rather
Alan R.
February 25th, 2011
11:49 am
celsius or fahrenheit?
Sort of a trick question. -40F = -40C
Iron League 13
February 25th, 2011
11:52 am
I am taking over – Don’t be afraid of what you don’t know about. News flash, Boss Hog…
Atlanta – “yankee” transplants = second rate city with nothing going on
Wakey wakey.
War Eagle
February 25th, 2011
11:52 am
There is a city in the state of WASHINGTON that would like to have an NBA team back there and name it The Sonics. Hint- they have a football and baseball team there. SELL THE HAWKS! Keep the Thrashers!
blazerdawg
February 25th, 2011
11:52 am
Sounds great; especially with some residences around Philips. Thanks for the encouraging news and good work CV!
thrash head
February 25th, 2011
11:52 am
For the life of me I cannot understand why more pro sports teams don’t ENCOURAGE tailgating and providing space for this activity. Quite simply people show up win or lose for the social aspect. Going to Wrigley is like party central for every game.
kracker
February 25th, 2011
11:54 am
Aww, c’mon, Stroz. We need our Gulch! Besides, I know how excruciatingly long it takes to get the environmental permitting done for a major project on a site like that. They ain’t building anything there anytime soon so I expect it will reamin a venue parking lot for a few more years.
I’m gonna sell “Save the Gulch!!” t-shirts and make a killing!
litz
February 25th, 2011
11:56 am
“For what its worth, working inside the media I have been told that this group is made up of Ludacris the rapper, Usher and…..wait for it….Justin Beiber, who, apprarently being Canadian loves hockey.”
That would be … interesting …
There is money there. A lot of money. Beiber brings a ton of youthful energy to the mix … and I can’t believe I just typed that.
But seriously – there’s been clamoring for local people to step up. This is local people … probably the biggest local people around who didn’t get their start wearing orange aprons.
(note the names above … and then note who’s the backing behind the movie studio @ Lakewood)
Iron League 13
February 25th, 2011
11:57 am
I am taking over – Let me help you understand what I said…
Much of Atlanta get’s hockey, at least a third of it “understands” it, because we’re not exactly southern anymore are we. Do the math on our cities demographics and get back to me. Millions of “yankees” in this town. MILLIONS.
KevinM
February 25th, 2011
11:57 am
Is someone truthfully reporting that along with the Thrashers and Philips, that someone is interested in purchasing the dynamic management team of Rick Sund and Larry Drew? Come on, this deal ought to get done quick with that leadership.
Seriously, why does the hockey and basketball have to be joined at the hip? The only group that can handle the daily costs there is someone like Google, who has a huge cash flow and is totally tied into the cities’ progress.
The odds of an Arthur Blank regime coming to the Philips/Thrashers/Hawks bad business model is very very unrealistic.
tonyb
February 25th, 2011
11:58 am
There is no question the package is worth substantially more with both the Thrashers and the Hawks involved, as opposed to just one major league team. This is a group that seems, on the surface, to have a strong long term plan in place. Remember, a 750 million dollar stadium for the Falcons is being built just a few blocks from Phillips, not to mention there is a 73000 dome right next door. Thus, plenty of sports fan each year coming to games in that location. Make sense to develop the area and make it attractive for the fans.
As as 25 year Atlanta sports fan, I would tell any investor this. This city has such a huge and untapped fan base, that if a team does the right thing and invests in the product, the fans will come, spend money, and support the product. This was true of both the Braves and Falcons, both at one time dismal franchises that were turned around by a ownership committed putting a good product on the field. I will say this, buy the Thrashers and I renew my season tickets.
winnipeg
February 25th, 2011
11:59 am
dont worry were getting the yokes and you are staying
you guys are way more knowledgeable but after this no more excuses for attendance Quebec is waiting
litz
February 25th, 2011
12:02 pm
It will sure be interesting to see what the buzz at tonight’s game is …
Bill
February 25th, 2011
12:04 pm
“I’m a Canadian hockey fan…this is our sport….and no one will ever love the game like we do.”
15k seat arena with 8k average attendence…where’s the love dude? If you guys are such diehards the Moose should be sold out every night.
Dickie Dunn
February 25th, 2011
12:05 pm
I broke this story first!
Iron League 13
February 25th, 2011
12:06 pm
litz – I for one will be there to show support. Tonight’s opponent speaks as a testament to that fact as I never have had interest in seeing them (like many other fans). But I will be there with the boy to show my love and disdain for the F.A.S., LLC.
LET’S GO THRASHERS!!!
Brian west palm beach
February 25th, 2011
12:06 pm
I cannot wait till this is over I think it is affecting the players also. Maybe they should go rent Major league and watch it. Something has to get them motivated. Last time they came to south fl was the last time I saw them win, and that made it hard to leave sunrise with my jersey on. LETS GO THRASHERS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Iron League 13
February 25th, 2011
12:06 pm
love for the Thrashers that is
Anita McCrambridge
February 25th, 2011
12:07 pm
The team is not being sold. I am folding the franchise and taking the loss as a tax write off.
JMT21
February 25th, 2011
12:08 pm
How ironic…… the temperature as I write this in Winnipeg is -35 F. Cold for the end of Feb. even for us.
Is Gearon prepared to part with his beloved Hawks?
ashtray
February 25th, 2011
12:09 pm
Hey Hey! Yes, build a complex on the gulch property that houses movie theaters, dance clubs, restaurants, and a hotel. Hire plenty of security. Make it an upscale party place.
Iron League 13
February 25th, 2011
12:11 pm
JMT – go back and see my list of concerns and tell me what you think. That’s one of em.
East Point Bob
February 25th, 2011
12:15 pm
I have to agree with Sage, I bet 100% Don Waddell will be gone under new ownership, Finally !
East Point Bob
February 25th, 2011
12:22 pm
Damian, You are a joke, Please explain how Canada owns hockey. It is played all over the world,
you need to get a real life and fast. What a moron !
Stan Drulia
February 25th, 2011
12:28 pm
Iron Leagu 13!
Stan Drulia
February 25th, 2011
12:30 pm
Iron League 13 that is. Not trying to harass you but it seems like you immediately correct yourself on like 60 percent of your posts.
Chris Vivlamore
February 25th, 2011
12:30 pm
BlueSpark: No offense to Mr. Kincade but if he was more source I wouldn’t be doing my job. The answer is no.
Thrashered
February 25th, 2011
12:32 pm
I’m really happy for you Thrasher fans. Now you can get on with your tradition of discussing which 3rd or 4th line player will be traded for someone else’s 3rd or 4th line player in the hope that the Thrashers can nail down that elusive 8th playoff spot. Maybe some day in the future you will experience the satisfaction of winning a first round play-off game.
Bluestreak
February 25th, 2011
12:32 pm
Damian
The Jets did go, to Phoenix. I think (if I recall the early 90s relocations) that was due to a lack of a decent arena (ie: money). Has Winni landed some big corp to afford to bring a team back?
Get over it, this is not just a Canadian sport. If it was confined to Canada, it would fold inside of 5 years. If Hockey can only be Canadian, then we want baseball and football back. Its just a poorly supported argument.
Bill
February 25th, 2011
12:32 pm
Oh BTW Canada. With ATL attendance averaging 13056 and Gwinnett (20miles north) drawing 5165 and your own Moose drawing 8294 and I will give you 200 a game for your Junior teams we still have around 10k more hockey fans attending games on any given night.
Add to that the fact that you can drive 100 miles North, East or South and watch other minor league teams (4 teams in GA total and 1 in SC in Greenville).
The 4 teams in GA average 23k total and 2 of those draw under 3k a night.
Take your “south doesn’t like hockey” crap and go weep in the corner because it’s almost 70 degrees F here and we get to watch PRO hockey tonight…what are you going to do, make big ice cubes into little ones?
ashtray
February 25th, 2011
12:36 pm
I think I love you Bill! Hilarious post with great facts. “big ice cubes into little ones! LOLOLOL!
ryan
February 25th, 2011
12:36 pm
Never say Never .
Iron League 13
February 25th, 2011
12:38 pm
Stan Drulia – That is correct, it’s obnoxious isn’t it? BTW, thanks for being so nice to me all those years ago when I played at the Knights camp and stuff. You’re a swell, guy.;)
Bluestreak
February 25th, 2011
12:40 pm
C-Viv, do you know what this is about?
@EJHradek_ESPN Thrashers GM Rick Dudley says there still might be a significant deal out there for him in the short window between now and the deadline
Rick’s not been afraid to pull the trigger on moves, so I’m hoping this is the one that kicks the team back in the right direction.
Iron League 13
February 25th, 2011
12:41 pm
I think that had bad punctuation, cuz ADHD doesn’t like proof-reading.
Thrashered
February 25th, 2011
12:42 pm
Hey, Bill, nice job playing the ‘Greenville’ card. Since you’ve done such an excellet job of showing why Georgia is a better hockey market than Canada,, maybe you will now have time to learn the difference between icing and offside.
blazerdawg
February 25th, 2011
12:43 pm
Bill – that post was AWESOME. Southern folks like da hackey.
BlueSpark
February 25th, 2011
12:44 pm
I’m really hoping this happens. Sorry Gulch-lovers, but this could provide some nice synergy with a new stadium for the Falcons, the Multi-Modal terminal, an MLS team, and other downtown revitalization projects. That’s why keeping the Thrashers here is important to the business climate, not just us fans.
Bluestreak
February 25th, 2011
12:45 pm
Thrashered, its obvious you are either one of the fans of a team that left you, so you don’t have one of your own to discuss or you are one that just can’t stand the fact that hockey is being played and succeeding in non-traditional locations. Sorry if you are in either of these groups. I’d rather have a 3rd or 4th line to discuss than to have to see my team play in Denver or Phoenix under a different name.
ZAvalanche
February 25th, 2011
12:45 pm
Finally, I can wake up to some good new on the wire. As much as I don’t care for the NBA (college ball is ok) the Hawks need to be here as they take a huge chunk out of the annual operating cost of the arena.
A >50% partial owner is definitely in need here otherwise not a damn thing will change or get done. I am pleased though, good news is on the way Thrashy!
Forward Video To Friends - Let's Fill PHILIPS!
February 25th, 2011
12:47 pm
We need to show the prospective owners that WE LOVE HOCKEY. Please do your part to help get people down to the games on Friday and Sunday. This video may help – it can be embedded in website and other blogs. If you are a hockey fan, IT IS TIME TO SHOW UP – get others to SHOW UP:
http://www.keepthethrashers.com/videokeepthrashersgame.html
KEEP THE THRASHERS IN ATLANTA!