Updated: Talks continue with TNSE; no announcement Tuesday
Negotiations between the Atlanta Spirit and True North Sports and Entertainment continued over the weekend as a deal to purchase and relocate the Thrashers to Winnipeg moved closer.
As of Monday, lawyers for Atlanta Spirit, True North and the NHL were still exchanging drafts and deal terms but a deal was not finalized. Monday was Queen Victoria Day in Canada, a bank holiday, which prevented the completion of some details.
The deal could be finalized later this week. NHL deputy commissioner Bill Daly told the AJC Monday, via e-mail, that “it’s safe to say there will be no announcement on Tuesday.”
Also, the last remaining hope of a buyer willing to keep the Thrashers in Atlanta appeared to have ended. The final prospective buyer, in negotiations with the Atlanta Spirit, with such an intention is no longer interested in pursuing a sale. According to a person familiar with the negotiations, the potential buyer is “probably, but not completely” out of the picture.
True North is led by Winnipeg businessman Mark Chipman and billionaire David Thomson and owns Winnipeg’s arena, the MTS Centre, and the American Hockey League team that currently plays there, the Manitoba Moose. The group turned its attention to the Thrashers after a deal, with public money, was reached to keep the Phoenix Coyotes in Arizona several weeks ago.
Key issues between the Atlanta Spirit and True North, such as price, are believed to be settled. The price is believed to be $170 million, with $110 million going to the seller and $60 million to the league as a relocation fee.
Many issues beyond price are part of such deals, such as financing and the commitments the buyer must make to the league going forward.
Even a signing of a definitive agreement would not be the final step in the process: The deal would have to be approved by the NHL Board of Governors before it could close.
Atlanta Spirit and True North opened negotiations in mid-May, shortly after the city of Glendale, Ariz., committed to cover up to $25 million in next season’s losses of the Coyotes, who otherwise would have likely moved to Winnipeg.
The Coyotes’ surprising one-year reprieve in Arizona made Winnipeg a relocation option for the Thrashers, whose owners had made it clear the franchise was in dire difficulty. The Thrashers’ owners had said they were unwilling to keep funding the team’s operating losses, pegged at around $20 million per year in court documents, and had been unable to find a qualified buyer to assume the losses in Atlanta.
The Atlanta Spirit has been looking for a buyer or investors for the Thrashers for several years, although the group has only had clear ownership since December after officially buying out partner Steve Belkin. Co-owner Michael Gearon Jr. told the AJC in February that there was a ‘sense of urgency’ to find a solution for the financially struggling franchise and that relocation was a possibility.
The NHL Board of Governors, which consists of one representative from each team, would have to vote to ratify a sale and relocation. A 75-percent vote is required to approve a new owner, and a majority vote is required to approve a relocation.
Atlanta would lose its NHL franchise for a second time. The city lost the Flames to Calgary in 1980.
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303 comments Add your comment
kj
May 23rd, 2011
1:14 pm
Winnipeg Pigs….has a ring to it. Imagine the promotions, like “Porker Night” where your date gets in free if she’s over 200 lbs. And then start the tradition of throwing sausage on the ice ala the octopus….best of luck.
Buck Fettman
May 23rd, 2011
1:18 pm
The rent here is just too damn high
KLS1
May 23rd, 2011
1:22 pm
I Have to say that I am a little embarrassed of this city…you would think that the Atlanta Sports Council, Mayor, or someone would at least try to keep the team here.
They could raise $100M doing a raffle to meet Nick Saban at the SEC Championship game.
It hurts our image and will dampen our economy…just a shame amd very short sighted.
Buy Chris V a one way ticket to Winnipeg
May 23rd, 2011
1:24 pm
Just another blog entry from Chris “Move them to Winnipeg” Vivlamore. He has no source other than what ASG tells him to say. Funny how he knows all about TNSE but can’t even tell us one person who is part of the group that will keep the team in Atlanta. I’m guessing he’s afraid of getting sued for spreading all the false rumors in his blog.
So much for responsible journalism.
thrasherdawg
May 23rd, 2011
1:25 pm
“CLASS ACTION SUIT”
It’s time for the “season ticket holders” to hire a firm to file a “Class Action Suit” against the NHL.
This is a huge “conflict of interest” see Mickey P post below:
May 23rd, 2011
11:17 am
This whole thing is a set up to cover Bettman’s A**, he is getting drilled by the owners over the expense of the Phoenix deal and he is going to make ASG pay for it. Besides the $60M transfer fee, the league is also taking an additional $20M out of ASG’s take.
If the NHL did not take over PHO they would be in Winnipeg right now and the Thrashers would still be here.
These days you can’t sell a house in 6 months but you can sale a NHL franchise i 10 days.
The NHL took care of Phoenix, Nashville, Tampa Bay, and Buffolo until they could get their affairs in order. The NHL should put the Thrashers fans on notice, you have one year to support the team or find an owner.
Losing a team in a television market like Atlanta is a huge black-eye for the league.
An idea,season ticket holders need to put up $200 each, hire a firm, and file a class action against the NHL. We can stop this
Please respond accordingly.
Tincup9
May 23rd, 2011
1:27 pm
Pheonix has a team for two reasons, Wayne Gretzky and $50M in randsom payments from tax payers to the league
Atlanta will lose their team for $60M reasons. Bettman will net the league $100M for two bankrupt franchises. I hate him, but damn.
I would like to know how much of the Thrashers operating losses were attributed to lawsuits. I am sure those allocations weren’t heavy handed or anything.
Read somewhere that if Winnipeg sells out the arena every night, they most they could hope for is 22+/- in total attendance b/c of capacity. Great way to grow the game.
Can Don Waddell be sued? I mean, holy crap.
The league and the ASG have made it clear my attendance and money don’t count. Noted boys. Don’t exepct either. Good luck, y’all deserve each other.
Matt From Section 109
May 23rd, 2011
1:35 pm
Chris, thank you for keeping us up to date. Definitely not the news I want to hear, but I suppose it’s better than getting my hopes up. I’ll keep some glimmer of hope until a press conference happens.
Believe In Blueland
Hop Toad
May 23rd, 2011
1:36 pm
Atlanta Hockey-heads, all of 2 of them, need to get a grip, move on and stop whining. Nobody gives a crap about this stupid “sport.”
thrasherdawg
May 23rd, 2011
1:36 pm
CLASS ACTION SUIT”
It’s time for the “season ticket holders” to hire a firm to file a “Class Action Suit” against the NHL.
This is a huge “conflict of interest” see Mickey P post below:
May 23rd, 2011
11:17 am
“This whole thing is a set up to cover Bettman’s A**, he is getting drilled by the owners over the expense of the Phoenix deal and he is going to make ASG pay for it. Besides the $60M transfer fee, the league is also taking an additional $20M out of ASG’s take.” END QUOTE
If the NHL did not take over PHO they would be in Winnipeg right now and the Thrashers would still be here.
These days you can’t sell a house in 6 months but you can sale a NHL franchise i 10 days.
The NHL took care of Phoenix, Nashville, Tampa Bay, and Buffolo until they could get their affairs in order. The NHL should put the Thrashers fans on notice, you have one year to support the team or find an owner.
Losing a team in a television market like Atlanta is a huge black-eye for the league.
An idea,season ticket holders need to put up $200 each, hire a firm, and file a class action against the NHL. We can stop this
Please respond accordingly.
Old Time
May 23rd, 2011
1:37 pm
Actually, I don’t think the NHL is that interested in Winnipeg. I think the league needs to cover their losses in Phoenix and the relocation fee (as other have said hasn’t happen before) will do that. Winnipeg is desperate and TNSE is over paying for the Thrashers.
Once Quebec get their arena finished they will relocate the Coyotes there and get the 150 million+ which will turn the league a hefty profit. The NHLPA would like to see a team in southern Ontario (and I agree with them because that team would print money), but Toronto and Buffalo will have no part in that.
However, 5-to-10 years down the line we might be revisiting Winnipeg to southern Ontario (if they can get Toronto and Buffalo on board) because that team would make a lot more money. Remember, this is never about fans (that goes for all league collage or pro), it is all about the money.
War Eagle
May 23rd, 2011
1:39 pm
People, The butts in the seats that you see are mainly CORPORATE seats. The tix for the lower level are so over priced that the regular fan has to resort to the cheap seats in order to not spend $300-$400 per game for a family of 4. It’s not that the fans don’t want hockey in Atlanta, it’s the fact that they cannot afford to go all the time due to the economy and the ticket prices. Also, the bond offering was RACIST! And should be challenged. The bonds only hold the HAWKS to playing in the Arena until 2028 when the bonds are set to mature. Nothing about the Thrashers. So it was a pre meditated conspiracy. Now, before everyone starts yelling Rangers/Bruins/Wings Etc-let’s take a poll and find out how many tickets are bought by corps and how many are individuals? Also, Nothern salaries are a bit higher than those in the south/!
Atlanta-to-Winnipeg update: Last local bidder apparently out of running for Thrashers | ProHockeyTalk
May 23rd, 2011
1:46 pm
[...] reports today that the last local prospective buyer interested in keeping the team in Atlanta is apparently all but out. The last-ditch effort for a buyer willing to keep the team in Atlanta appears to have expired. [...]
LemieuxFan4ever
May 23rd, 2011
1:46 pm
So what happens if the citizens of Winnipeg don’t purchase 10,000 season tickets, or whatever that condition was that I read about? Will the team not move there? Will the NHL take over the Thrashers, like they did in Arizona?
monkeyman110
May 23rd, 2011
1:47 pm
David McDavid……please help us!
Atlanta-to-Winnipeg update: Last local bidder all but out of running for Thrashers | ProHockeyTalk
May 23rd, 2011
1:50 pm
[...] reports today that the last local prospective buyer interested in keeping the team in Atlanta is apparently all but out. The last-ditch effort for a buyer willing to keep the team in Atlanta appears to have expired. [...]
Fart
May 23rd, 2011
1:58 pm
I will still cheer for some of our players, especially Boulton and Thor wherever they end up..but as far as spending my money on the NHL or anything related to the ASG / Philip’s Arena, you can forget about it, we got screwed and I refuse to line any of these frauds pockets with my money. I feel that both sides are at fault and we lose, the actual fans lose. I know the trolls don’t represent Canada or Winnipeg for that matter but the people on this forum under that guise have been atrocious and I am convinced that some of you went without oxygen for long periods of time in your life when you weren’t trying to eat your entire head. Good job, you get no southern hospitality, I don’t welcome any of you here and you won’t see me shedding a tear if/ when Canada gets bombed for not being a good enough hat for the United States. You don’t own the game of hockey and it’s not “life”. If it is your life, you probably need one. Start with going outside and maybe even finding a girlfriend that isn’t digital.
As for players like Mason who are just as indifferent as this paper is, he can’t hide from a real media. He hid here because the media didn’t care and was a puppet to the ASG, never any tough questions, players were never accountable at all, hopefully Mason stinks there as well, someone in that frozen manure pile will at least call him out on it, enjoy Pavelec..if a coach can get him to show up in shape..he can take a team to the playoffs with some sort of effort in front of him.. I’ll miss this team..but I’ve been wanting it ran properly since Hartley got the boot, because it has been awful for the most part. So alas..I wonder if The fearless whispering Ramsay might even get fired if he has a 3 month losing streak like he did here. I liked him, so I hope he doesn’t freeze there.
I am soured on NHL hockey, this whole thing has really shown a side of the NHL and evil ownership, it will be hard to be anything more than a casual fan..like I said..I’ll marginally peek in just to see if Thorburn and Boulton are doing well with their new team(s). I hope the entire league folds, I hope it loses money and it folds. Another strike that kills places like Winnipeg.
Richard Bagge
May 23rd, 2011
2:04 pm
Seriously, you yahoos moaning that nobody in the south cares about hockey… did you miss the fact that Florida has two NHL teams, and Tennessee and North Carolina one each? Did you miss the fact that the minor league SPHL has been around for a decade, and that Knoxville and Columbus routinely play to packed arenas? Clearly there is a potential audience and fan base here, just not for the awful way that the Thrashers’ owners have mishandled salaries and absurdly high ticket prices.
I’ll miss the Thrashers, but I’ll just wear my jersey to Gladiators games. Honestly, the play has been better in Gwinnett for at least three seasons anyway. More fun fights, too.
alex
May 23rd, 2011
2:05 pm
poor supply-less demand–that’s ok we’ll sell to another sucker;Phoenix is so in debt, Glad atlanta politicians won’t put up with this BS
Chauncey DeBrickashaw
May 23rd, 2011
2:06 pm
You can tell that the people of Atlanta do not care about the Thrashers because the news of a potential move to Winnipeg is not even on the front page of the AJC’s web site! The news is not even on the front page of sports section, I had to click the Thrashers link to find this article! If this was happening to Philadelphia, Chicago, or Detroit, then it would be all over the paper! Let’s face it, hockey as no place in Atlanta!
PureEvil
May 23rd, 2011
2:09 pm
R.I.P Thrashers…you’ll be missed!!!!
By all 5,000 fans!!!!
PureEvil
May 23rd, 2011
2:10 pm
Someone said it earlier but I do believe it’s true. The Atlanta Thrashers would’ve done better by being the Gwinnett Thrashers and playing in the Gwinnett Arena. (13,000 is the Hockey capacity)
M Tuck
May 23rd, 2011
2:12 pm
No one will buy them locally without Philip’s arena included because they need the profits from merchandise and concessions. The AS knows this but continue to put on this PR charade making it look like they are making a effort to keep the Thrashers in Atlanta. If they wanted that they would sell them together. They know if they sell to Winnipeg then they will turn a bigger profit. FYI attendance since 2000: Hawks 14,808 Thrashers 14,690. If the NHL lockout hadn’t happened Thrashers would have averaged more. T
PureEvil
May 23rd, 2011
2:12 pm
13,000 is the Hockey capacity
(With the ability to expand)
Erf
May 23rd, 2011
2:15 pm
Anyone who’s saying “nobody cares about hockey” will you please, kindly, STFU. Obviously people do otherwise there wouldn’t be this comments section…
BTW, it’s people like you who spread their unfounded hate about the sport of hockey (really, anything that isn’t SEC Football) are a big reason this town is losing a team. So, you don’t like hockey? Good for you. We do. Last time I checked, the Bulldogs never played football at Phillips Arena, were aired on SportsSouth or on VS and were in no way interrupted by NHL hockey. Are you folks so pathetic and narrow that if you don’t like something, then you feel it shouldn’t exist?
Relocationist
May 23rd, 2011
2:17 pm
The death of the Thrasher franchise is becomming as long and painful as their life was.
Joe Friday
May 23rd, 2011
2:20 pm
“The death of the Thrasher franchise is becomming as long and painful as their life was.”
Not quite yet, bure it sure seems like it, eh?
What about the news of the exclusivity agreement expiring on the Hawks and Arena? That helps our cause, only way the Thrashers stay is the new owner buying all three, can’t run the hockey team profitably without the arena rights.
done with hockey
May 23rd, 2011
2:20 pm
Well, at least I can stop following hockey. One less thing to follow. Frees up my schedule a little bit.
Fart
May 23rd, 2011
2:24 pm
@You can tell that the people of Atlanta do not care about the Thrashers because the news of a potential move to Winnipeg is not even on the front page of the AJC’s web site!
The people don’t control the media. The AJC also reports on such things as high school football, again..it’d be nice if people who tried to troll knew half of what they are trying to talk about. Whoever gave you the impression that the AJC is the TSN of the South made a joke of your intelligence like I am.
The “front page” of most newspapers would not put sports on there unless it’s a world series or championship of some kind. Again..a lot more things happen in day to day life in Atlanta as opposed to Winnipeg where you people apparently have absolutely nothing to do but try to stay warm and dream of Teemu Selanne.
who gives a crap?
May 23rd, 2011
2:24 pm
Hockey does not belong in Georgia anymore than Noodling belongs in Vermont
John Daly
May 23rd, 2011
2:25 pm
Meh.
PureEvil
May 23rd, 2011
2:26 pm
Anyone who’s saying “nobody cares about hockey” will you please, kindly, STFU. Obviously people do otherwise there wouldn’t be this comments section
Obviously there are people in Atlanta that care about Hockey just not enough to keep a NHL team here (twice). I hate that were losing a major sports franchise it really does make this town look bad. You would think they could’ve figured that out the 1st time.
thrasherdawg
May 23rd, 2011
2:31 pm
Move the Thrashers to Gwinett
New owner should make a deal with Gwinett…plan to expand the building in the off season ( I understand this is doable) to heck with Atlanta.
Now the area is not the issue and the location for most people is much better.
Gwinnett Fred
May 23rd, 2011
2:33 pm
I honestly can’t believe any ASG member can live in Atlanta any longer. The only reason I would go to a Hawks game now would be to hope to find one of them there and accidentally spill my beer on them.
PureEvil
May 23rd, 2011
2:42 pm
“I’ll miss the Thrashers but this just proves I need to move to a real sports city that can handle all sports leagues.”
Name the City’s in the SOUTH that can handle the NFL, NBA, MLB, NHL and 2 major conference NCAA football and basketball teams?
PureEvil
May 23rd, 2011
2:44 pm
thrasherdawg
I honestly don’t follow Hockey but, I do go to Gladiator games all the time and have fun every time I do think the Thrashers would’ve done better there.
Obviosity
May 23rd, 2011
3:01 pm
This is the result of ownership that doesn’t know a hockey puck from a cow chip…
schmeckdawg
May 23rd, 2011
3:02 pm
I like the one guy’s potential nickname for when they move. The Winnipeg Polar Bears. A minor league name for a minor league outfit! Thanks for 11 years of nothing. I feel like a real dumb a$$ for all of the money I wasted watching you slackers!!!!!!!!!!
Soccer Hockey
May 23rd, 2011
3:03 pm
Please, take this hockey crap, package it with the soccer crap, and remove them both from Atlanta. No one gives a daamn about soccer; no one give a daamn about hockey. Good riddance.
Richmond BC Gord
May 23rd, 2011
3:04 pm
A month or two ago, I’ll wager most native Atlantans never even heard of Winnipeg, Manitoba. Then again, it seems most native Atlantans never heard of the NHL nor the Thrashers !!
AngryRedMarsWoman
May 23rd, 2011
3:05 pm
I have been a hockey fan since 1970 – when I was born and so were the Sabres. I relocated to Altanta and was a Thrashers STH until 3 years ago when I got sick of taking crap from ASG; although I continued to attend a number of games each season. I have traveled to a number of other arenas to spend my money on hockey. I am now DONE with the NHL. Getting rid of my Center Ice package. They can burn my subscription to The Hockey News. Packing it in, folks. Might hit some Gladiator games – might just stay busy watching my son play middle school hockey. Eff the NHL.
thrasherdawg
May 23rd, 2011
3:06 pm
sorry…spelling error.
Move the Thrashers to Gwinett
New owner should make a deal with Gwinett…plan to expand the building in the off season ( I understand this is do-able) to heck with Atlanta.
Now the arena is not the issue, and the location for most people is much better.
Mountie
May 23rd, 2011
3:14 pm
OK Thrasher fans please accept my sincerest thoughts to all you good folks. I want to say we’ll take good care of the Thrashers (or whatever the new names will be) and beat the crap out of Phoenix for you.
That said, here’s the pitch…Get a new owner and buy the Coyotes. You’ll get them for a song and they’ll be playing out of Georgia next season! They should have folded up tents but a really screwed up city is funding all the losses…??
Best of success! Go Falcons!
The ‘Mountie from Manitoba’
farleybear
May 23rd, 2011
3:17 pm
Wow G52 is commenting on here too? Pay no mind to him Atlanta. He is not classy like you folks. He is just an angry, unintelligent little boy hanging on to the scraps of a dream that will end after the 2011/2012 season. He hates ‘trolls’ coming onto the Phoenix sites yet here he is. He’s the biggest loser that has ever had internet access and a keyboard.
farleybear
May 23rd, 2011
3:21 pm
@Bluestreak…it’s a DEAL!!
farleybear
May 23rd, 2011
3:25 pm
One more thing; Chris Vivlamore has been FANTASTIC through all this. His stories are non-sensationalistic and never riddled with a bunch of half-truths and insults. Started reading his stuff because of the whole Atlanta to Winnipeg thing, but will remain a follower after it is done. Great reporter. COME TO WINNIPEG CHRIS!!
Brendan
May 23rd, 2011
3:26 pm
Such a shame that our elected City officials, and Governor Deal, are content to watch $30 million in lost income revenue waltz out of our state. At least, we can’t call it “outsourcing.” Sorry to hear the lease the Thrashers had on Philips Arena, until 2019, was severed so easily and inconsequentially. Sorry to hear that the owners renegotiated the price of “naming rights” for Philips Arena so easily, to prepare for this JETTISONING.
And, most of all, sorry to hear that this move (1) pleases the NHL, which will get $60 to $90 million in the sale, (2) pleases the Spirit, who never wanted this team, (3) pleases the Philips Corporation, (will pay less for the naming rights) and (4) pleases the Mayor of Atlanta, and Governor of Georgia (who apparently don’t like hockey, nor fear any sort of backlash at the polls). With all these “pleased” entities, I’m surprised there isn’t some article about what a RAGING SUCCESS this endeavor has truly been.
Meanwhile, am I the only one thinking that, today, we are LESS of a major city, having lost a professional franchise, and the concession sales, parking revenues, and millions and millions of dollars of State income tax?
Nile Uno
May 23rd, 2011
3:26 pm
I am starting to think that this move was stage, and now with Atlanta Spirit ends exclusivity period on sale of Hawks, Philips Arena rights. That means they did that, so nobody could try to buy all three rights.
To the ASG, you guys are scumbags and just get of the sport ownership period.
Joe Friday
May 23rd, 2011
3:33 pm
Brendan, you forgot to include thanking the Metro Chamber of Commerce and Atlanta Sports Council who are apparently pleased to see all of the lost income and revenue.
Yes, we’re LESS of a major city if this comes to fruition. Although now we can claim fame to being the ONLY American city to have ever lost 2 NHL clubs. Has any other city lost 2 teams? The Rams left LA, Baltimore lost the Colts, has anyone lost two franchises though, even if in different sports?
Paddy
May 23rd, 2011
3:33 pm
I was out of town. Will the ASG have another “Pick your Thrashers seats day”?
Bailout!
May 23rd, 2011
3:34 pm
The city of atlanta should step up and bail out the thrashers—just pay the owners $30-$50 million to keep them happy for another year or two. They can just jack up sales taxes or property taxes to pay for it. It will be worth it based on the economic impact of having a team in town.