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
ashtray
February 25th, 2011
2:49 pm
I think the potential buyers could be the lawyers that have been laughing at the octocluster and soaking all the money out of ASG during the last 7 years!
They have tons to work with now!
Hockey Biltong
February 25th, 2011
3:04 pm
Canadians/Americans: Someday, maybe, both cities will have NHL teams. No need getting your touques and ballcaps wadded into dough balls.
On another note, Kincaid is pretty much a dipstick, while decrying the home teams in favour of his Philly teams. Mr. Half glass empty is one of the biggest “Debbie-Downers” on air in Atlanta and it would be truly awesome to see him replaced by a true hockey fan on the air. Right now there just isn’t one, apart from Dan K and Darren E.during broadcasts. Nobody supports the game properly during drive time in the am or afternoon.
A New Ownership Group For Atlanta? | The Vancouver Canucks
February 25th, 2011
3:06 pm
[...] continued [...]
Mr Mojo
February 25th, 2011
3:08 pm
We aren’t lucky enough for this to happen.
Mo Wanchuck
February 25th, 2011
3:10 pm
Ever been to the Palm Isle?
Bugs
February 25th, 2011
3:17 pm
Don’t you guys have jobs, or do you just check this blog every 30 seconds for a new update? It’s Friday afternoon. Time to get some filing done!
nosunbelt
February 25th, 2011
3:17 pm
LOL. You idiots keep getting excited over nothing. Until there is an offer, go watch SEC football. Thanks for coming out.
jimcee
February 25th, 2011
3:20 pm
Agreed Hockey Biltong(?)…what is obvious is that there is a lot of interest in hockey in both places.I wouldn’t be surprised if Atlanta and Phoenix get their situations resolved that Winnipeg and Quebec City get expansion teams in a few years.The Islanders with their tradition and chance at a new arena in Brooklyn are never going to move from the NYC market and the other “newer” southern teams are starting to draw really well.Look at Nashville,Carolina,Tampa and even Florida.Hockey is a wonderful sport and hopefully the NHL can eventually include a number of expansion markets that are hungry for a team.Who knows maybe even the Whalers can make a reappearance in Hartford one day and join the expansion Houston Aeros for the 2017-2018 season!
Brian
February 25th, 2011
3:29 pm
@BlueThrash -40F is the same as -40C.
Thrasher_Ed
February 25th, 2011
3:31 pm
I remember a certain Boston TV play-by play man Jack Edwards statements earlier this year after the Thrashers clobbered his Bruins 5-1 I believe that this city was missing out and he is right. But just like Jack Edwards forgot Atlanta sports fans much like Boston sports fans will not support a sorry A$$ ownership group that spends to the salary floor year after year while endlessly allowing our best players to leave town. Get a solid ownership in place that is committed to helping these teams consistently make playoff appearences and the fans will come out. Old Atlanta Flames fans same out to support those teams, Thrasher fans old and new will return as well. Just as soon as the A$$clowns running the Hawks and Thrashers are OUT!!!
jimcee
February 25th, 2011
3:34 pm
Just a few short years ago the Blackhawks were averaging 12,000 a game or less! Now look at them…younger, new owner,first in the league in attendance and a Stanley Cup to boot!
Thrasher_Ed
February 25th, 2011
3:34 pm
Kincaid is a Thrashers Fan. But he is not a blind loyalist. Sports Talk radio is driven by listeners. You want them to talk more Thrashers, pick up the phone and call with more questions about them. If Thrasher fans call in droves they would talk more Thrashers. No need to when no one calls in asking for it!
Mooseberg
February 25th, 2011
3:43 pm
Kincaid is a Phillies, Eagles, Flyers and Sixers fan and there is no doubt about it.
Ned Braden
February 25th, 2011
3:45 pm
I don’t believe a word of this Florida $*)@.
jerry
February 25th, 2011
4:36 pm
To any potential owner: If you don’t have the money and the will to put a competitive team on the ice, forget about it.
AtlantaVols
February 25th, 2011
5:09 pm
Need a win tonight. Lets go Thrashers! Hope this new ownership works out soon!
cousin Eddie
February 25th, 2011
5:24 pm
Would love for these potential new owners to build something like Nashville has. I almost found myself not wanting to go inside the arena to see the game because the atmosphere outside was awesome. TThanks Chris for reporting the most informative articles in the ATL.
Hotrod
February 25th, 2011
5:25 pm
I say this is the best opportunity going in the sports world currently.
Hockey in a big town with great weather! Forget about it! If you have
money and a love of the sport. This is a no brainer. Pal around with
Mr. Blank for an afternoon or 2 , get a few solid pointers , and off to the races. Mr. Blank seems to have done pretty good with his investment.
Brendan
February 25th, 2011
6:20 pm
Here’s what I hope for … as a fan of the Atlanta Thrashers. (1) That an ownership that actually LIKES hockey emerges. This is every bit as NECESSARY as is the group’s ability to FINANCE the team. If they LIKE hockey, then it follows that they would CARE for the team, enough to fire a GM without a playoff berth in a decade. (2) For selfish reasons, I want the team to remain in Atlanta, GA. (3) I want the ownership to be able to finance LEAGUE MAXIMUM type salaries. If they cannot do this, it compromises the Thrashers ability to adequately compete for championships. Striving to be the 15th best team in the NHL, on an annual basis, was the WORST THING I’d ever seen anyone aspire to be or do.
As much as I do not want to lose the Thrashers, I’d at least feel better about them moving … knowing that their next ownership group actually CARES about them. At least enough to have some accountability about the product to its fanbase.
Brad
February 25th, 2011
6:55 pm
If anyone should leave it should be the Thrashers… I went to a Saturday game sometime this season and I was only about 1 of maybe 5,000 there
tommy2tone
February 25th, 2011
7:12 pm
Move them to Gwinnett!
Reg Dunlop
February 25th, 2011
7:54 pm
Hey Ned! I’m just sayin it’s probably my last game and i’d like to have you there. You don’t have to fight, we’ll play it straight. Ned? Oh and Lily’s a wonderful girl. She’s been stayin at my place. We’ve been havin a helluva time….
Winniphlegm
February 25th, 2011
9:47 pm
Jeez, being from Winnipeg, it gets more than a little irritating seeing how many Canadian losers troll these pages. Let me reiterate, not only to you Atlanta, but to idiot Winnipeggers being babies. Atlanta has a team. They have fans…real fans. And hey, they may also have a new owner in the works, which for me is great. Don’t worry Thrasher fans, it’ll all work out. The Winnipeg dogs are sniffing out the Coyotes again today since they realize Atlanta may not work out. Give it a couple of days, then Phoenix will be all right, and they’ll come back here. Hopefully, the trolls read this, and maybe they can figure out who they are.
blazerdawg
February 25th, 2011
10:33 pm
Class comments Winniphlegm. Hope the Jets return soon, just not as reincarnated Thrashers.
Rogie
February 25th, 2011
11:09 pm
I hope this new ownership story doesn’t turn out to be a Reggie Dunlop sort of rumor…
Jay
February 26th, 2011
12:17 pm
ASG is already screwing this up by selling all 3(Thrashers, Hawks, Philips.) The only good news is that they are desperate to sell so as long as they arent moronic a potential new owner can get a great price. Ideally, We would get 2 owners/ ownership groups. 1 for hawks, one for Thrashers and they split Philips 50/50. But at this point, priority 1 is keeping teams here, priority 2 is kicking A.SSG out.
AtlFlamesFan
February 26th, 2011
12:23 pm
@Chris V
Loved this response: “BlueSpark: No offense to Mr. Kincade but if he was more source I wouldn’t be doing my job. The answer is no.”
The whole world turned upside down for ASG. Their original scheme to “flip the Thrashers like a greasy burger” in order to acquire their beloved Hawks for almost nothing blew up in their faces. Once the Belkin lawsuit began, they were stuck, and this under-financed group’s losses mounted. I believe that they know that it is over for them; that their debts are so high that there is no way they can even keep the Hawks. They may want to play hardball, but I think they are so desperate that they cannot.
David
February 26th, 2011
12:27 pm
I’m interested in buying the Atlanta Thrashers and Atlanta Hawks and to own the arena.
patrick
February 27th, 2011
1:19 am
when we move your team to winnipeg we’re going to sell your players faster than enron stock. come visit and catch a game .
Waldnerw
February 27th, 2011
6:08 am
da’ boomer, you are a typical American. Any place outside of 10 miles your house, you know nothing about.
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February 27th, 2011
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[...] Prospective buyer for Hawks, Thrashers, Philips Arena in works | AJC.comIn what surely comes as a bitter blow to some members of the Canadian media, there is apparently a group interested in buying the Thrashers and keeping the team in Atlanta. [...]