Thrashers deal may continue into next week

Negotiations on a sale agreement between the Atlanta Spirit and True North Sports and Entertainment that would result in the relocation of the Thrashers to Winnipeg, Manitoba continue to move slowly and now may not be completed until next week.

Two people familiar with the negotiations who asked not to be identified because the sensitivity of the talks told the Atlanta Journal-Constitution Thursday progress continues to be made. “All parties are moving slowly,” said one on the people familiar with the situation.

A sales agreement has not been completed with details described as “consent, owner approval, proof of financial information, etc.” still to be worked through.

“There are complex issues that take time to work through,” the AJC was told.

In typical sales involving a professional sports franchise, a Consent Agreement is negotiated between the league and the negotiating parties. It contains language on the relationship between the league and team and the rules for operation.

“I would be shocked if it happened by Memorial Day weekend,” the AJC was told.

One of the details not in question is the sales price and how it will be divided. According to one of the people familiar with the negotiations, the $170 million price tag – with $110 million going to the Atlanta Spirit and $60 million going to the NHL as a relocation fee are and have been firmly in place.

While the final details are still being worked out, members of the Atlanta Spirit organization met this week to discuss the details of an announcement when an agreement is finalized.

138 comments Add your comment

2mins

May 26th, 2011
11:34 am

So ASG is now meeting to figure out how to break the news, officially.

MJC

May 26th, 2011
11:35 am

Chris, what are your thoughts on the supposed Anson Carter offer?

What about...

May 26th, 2011
11:37 am

What about Anson Carter?

What about...

May 26th, 2011
11:37 am

[...] Journal Constitution:  Talks on Thrashers sale may go into next week.  As much as people want/need this done 72 hours ago, we need to understand that there are a [...]

Steve

May 26th, 2011
11:39 am

I can’t for the life of me figure out why the AJC can’t do INVESTIGATIVE reporting on this, the NHL bylaws, why the Mayor can’t at least speak to promote the Thrashers (I agree with not providing taxpayer subsidy), and why the Chamber of Commerce is silent. This makes both the City of Atlanta and the AJC look terrible.

kovy

May 26th, 2011
11:43 am

but for the crying, it is all over now.

Steve

May 26th, 2011
11:43 am

This whole situation with the ASG and NHL, Phoenix and Winnipeg/TNSE – - – something is really wrong here, and it’s obvious to just about everybody. Where are our journalists and investigative reporters from sports radio, TV and the AJC? It’s shameful to be unable and/or unwilling to dig to get to the bottom of all of this before it’s too late.

MJC

May 26th, 2011
11:45 am

glovesave29

May 26th, 2011
11:46 am

Yup Steve – gotta agree. Why do we have to wait? Imagine if Woodward and Bernstein has decided to come forward AFTER Nixon was out of office. If there are devious workings afoot (with ASG / NHL – not TNSE) why not expose it now?

Penske Truck Rental

May 26th, 2011
11:47 am

Let’s

Go,

Thrashers!

pegger 36

May 26th, 2011
11:47 am

Announcement of move to be made tomorrow(Saturday)

I.C. Wiener

May 26th, 2011
11:48 am

Deal could move into next … year?

Mac

May 26th, 2011
11:49 am

Last Friday, you wrote how it was “Down to one group currently negotiating to keep Thrashers in Atlanta”. Are these negotiations still ongoing? Don’t the NHL By-laws favor a buyer that wants to keep the team local?

pegger 36

May 26th, 2011
11:50 am

oops should read day after tommorow

Nathan

May 26th, 2011
11:50 am

I’m not much into conspiracy theories but bottom line is this, Atlanta could care less about the Thrashers and ASG could care less about the city, Thrasher fans for the team itself. Finally, it has been pretty clear since day 1 that C. ViV. also would like to see the franchise move so he can cover something more than the red-headed stepchild of the city.

The real culprit in all of this? Ted Turner and TIme Warner. Why? Time Warner breached the exclusivity negotiation agreement with David McDavid so the franchises could be sold to fledling millionaires that includes who? Rutherford Seydel, hey btw guess who’s son-in-law that is? Yep, Ted Turners. BTW as an accountant and an attorney (and former collegiate hockey player), I can tell you with certainty that all of the Hawks losses if any have also been placed with the Thrashers. More over if ASG actually opened their books you’d see a as good a book cooking BBQ since Enron. Thrashers you never had a chance, I wish it weren’t so…..

schmeckdawg

May 26th, 2011
11:51 am

Shsssssssh. Can y’all hear that? It’s the fat lady singing!!!!!!

pegger 36

May 26th, 2011
11:53 am

announcement of move to be made day after tomorrow (saturday)

VivlaPeg

May 26th, 2011
11:54 am

So the ASG can’t agree on how to blame fans for not supporting their indifferent penny pinching strategy of how NOT to run a pro hockey team they never wanted. That should be a fun announcement. Pleas let DW be on tv and tell us about his 5 year plan again as well and how hard he tried to find a local owner! Bring Bettman to the party, he’s always good for telling lies too!!

Disgusted 10-Year Thrashers Season Ticket Holder

May 26th, 2011
11:54 am

Don’t let the US-Canadian Border hit you in the @$$ on the way to Winnipeg, Thrashers.

Eat Excrement in the Fire Pits in the Kingdom of the Horned One with Jesse Jackson for All Eternity, Levenson, Gearon and Atlanta Spirit Group!

I.C. Wiener

May 26th, 2011
11:54 am

Mmmm, BBQ.

Doh!

Steve

May 26th, 2011
11:54 am

What also doesn’t make sense is why the NHL wouldn’t sell the Phoenix team to TNSE ($25 million payment from Glendale taxpayers likely not enough to offset their losses), get the $60M relocation fee, buy time for ASG to find a local buyer for a market far bigger than Phoenix.

Buy Chris V a one way ticket to Winnipeg

May 26th, 2011
11:56 am

Hey Chris.. don’t you get tired of being the mouthpiece for ASG ?

.

May 26th, 2011
11:57 am

“The group led by Carter made a preliminary, non-binding offered to buy the Atlanta Thrashers, The Atlanta Hawks and the rights to Philips Arena from Atlanta Spirit. The group intended to keep the Thrashers in Atlanta and had serious financial backing, Pearl’s source said.”

http://www.11alive.com/news/article/192249/8/Hockey-News-Thrashers-deal-done-team-moving-to-Winnipeg

pegger 36

May 26th, 2011
11:58 am

announcement of move to be made day after tomorrow (saturday)

Nathan

May 26th, 2011
11:58 am

If this is true regarding Anson Carter, then that is just another thorn in the side of Thrasher fans. Honestly, a teams fan base has not been treated like this since Art Model and the Cleveland Browns. Unbelievable….

VivlaPeg

May 26th, 2011
12:00 pm

@Announcement of move to be made tomorrow(Saturday

Canadian media hard at work. According to them Atlanta and Phoenix have both been playing in Canada for 2 years and Kovalchuk was traded to the Leafs.

philbot2020

May 26th, 2011
12:00 pm

ASG has met to plan how to announce the sale and move? Hopefully they will invite all season ticket holders down to Philips to meet with them privately.

I’ll bring the tar, who’s got the feathers?

jb

May 26th, 2011
12:00 pm

does it really effing matter how they make the announcement at this point? let’s decide how to get everyone to the lifeboats in an orderly fashion after the titanic has already smashed into the ocean floor.

Steve

May 26th, 2011
12:00 pm

Best humorous line I’ve read about all this: “Now that Winnipeg’s getting a team, Toronto’s going to want one.”

Kovy's Agent

May 26th, 2011
12:01 pm

As the Lord is my witness I will never darken the door of Philips Arena as long as it’s in the hands of these jack-offs. A pox on all their houses.

MJC

May 26th, 2011
12:02 pm

Nathan

May 26th, 2011
12:04 pm

BTW kudos to C. VIV on his awesome reporting since it was 11 ALIVE that announces this Anson Carter Offer. Had it actually been brought up before it may have at least gotten enough legs to keep Bettman from lying to us as well as ASG that no serious offers have otherwise been made.

Egghead

May 26th, 2011
12:04 pm

The Yotes were Bettman’s most pressing issue since the NHL owned the team and lost 40 million last year and they don’t want to own a team.. They needed to put that to bed first because the Thrashers are owned privately and bettman and the BOG don’t care how much money the Thrashers owners lose. They were looking out for the majority which is the BOG. Throw in a small time clown of a mayor in Gongdale and they rent the team for another year or 2 until Quebec builds an arena and it will be adios Yotes.

Nathan

May 26th, 2011
12:05 pm

Any season ticket holder that is an attorney that wants to file an injunction against the sale on behalf of all season ticket holders? Could at least make a stir? I would but I won’t have standing as a non-season ticket holder. Anyone who wants to I think it could at least be fun.

George

May 26th, 2011
12:05 pm

NHL had two teams up for sale and only one buyer. They put Glendale in the corner getting them cover losses for one more year. That way they can sell Thrashers to TNSE. In the meantime they wait for Quebec to get things ready, and they’ll move Coyotes there.

VivlaPeg

May 26th, 2011
12:05 pm

These sale announcements were imminent weeks ago and again, according to Canada, already happened. Can’t imagine why all of a sudden..it’s taking more time with complex small details still needed to be worked out. And why is the ASG big on an announcement? They’ve cowardly hid all this time, why come out of their cave when it’s finally over? to show us dirty Canadian money in their corrupt pockets or Bettmans lipstick on their faces? We wanted them out of Atlanta, not the team.

Egghead

May 26th, 2011
12:06 pm

Theres nothing dirty about Canadian money or TNSE. They gave the BOG a presentation years back and have waited patiently for a team to come available. Only dirty here are the present owners of the Thrashers

VivlaPeg

May 26th, 2011
12:11 pm

Nathan, Winnipegs own, C-Viv prefers the Winnipeg perspective. Notice the vast majority of articles are about Winnipegs side, not anything local as they only mentioned the Balkan in shooting it down. Kinda strange. No interviews with Glavine and only a micro interview with Lil’ Jon as if anyone belived that anyway. Viv is on Winnipeg radio as we type.

Emi in Montreal...

May 26th, 2011
12:11 pm

what’s all the fuss about… you’re trying to save a team now that the deal is almost complete…Obviously no one in Atlanta wants a team that made no profit… and forget about Carter trying to buy the team “now” …let’s face it, the deal to sell the thrashers is in it’s final stages…. so stop whinning… suck it up and move on without the thrashers…. geez..

schmeckdawg

May 26th, 2011
12:13 pm

VivlaPeg

I’m with you. ESPN reported this last Saturday. Oh the humanity!!!!!!!!!!!!!!!!

schmeckdawg

May 26th, 2011
12:16 pm

Nathan

To me, the real culprit is having a crappy team for 10 out of the 11 years that they have been here!

Tommy

May 26th, 2011
12:17 pm

The endgame to all of this is plainly obvious. . .

1) ASG uses their windfall from the Thrashers sale to make a few big signings for the Hawks. Then, later this fall:

2) It turns out that the much of the Thrashers’ reported losses, due to a ‘bookkeeping error’, actually belonged to the Hawks. Now, with their heavy contract obligations, ASG cannot cover it all, so they announce that they will listen to ‘all offers’ for the Hawks, including those outside the city (although the Phillips lease says they can’t leave, they’ll make up something). After that:

3) Mayor Reed, who couldn’t care less about the Thrashers leaving town, trips over himself running up to the podium to announce a ’save the Hawks’ campaign, which includes some sort of assistance for the Hawks. The General Assembly will reluctantly OK it, because we all know that anyone who doesn’t like basketball is a racist. ESPN said so.

So in the end, we not only lose our hockey team due to ASG, but we’ll end up subsidizing their basketball team as well. Call me naive, but I thought this was all somehow illegal

Mike Vick

May 26th, 2011
12:21 pm

Wow.

You know I treated my dogs way better than that Bruce Levenson treats his paying customers.

Tommy

May 26th, 2011
12:22 pm

Another thing. . this whole sale hinges on the financial loss issue. A lawyer who files on behalf of season ticket holders could end up forcing ASG to open the books. Make them prove their point.

If it turns out the losses are exaggerated, it could at least encourage another buyer to step in, willing to the keep the team in the city.

I.C. Wiener

May 26th, 2011
12:24 pm

ASG will use the proceeds from the Thrashers sale to sign Dwight Howard to a 1-year contract.

G52PlM228

May 26th, 2011
12:25 pm

aUH nO Deal was closed last Tuesday per Toronto newspaper. A very credible writer who checks and double checks his sources. A true journalist. As expected per the same article Bettman made the announcement in Winnipeg on Tuesday.

KS

May 26th, 2011
12:27 pm

Really? You dont know? The Thrashers are gone…have been for a long time. In the Thrashers best season they lost millions and had to dump their stars. Why would anyone want to keep them here, including the NHL?

ATLANTA IS NOT A HOCKEY CITY. Its barely a sports city. It is a royal pain in the ass to get to any of the sports that have weekday games, including the Hawks and Braves. If the Braves fans dont start showing up they could be next. The Hawks are stuck until 2028. Maybe Artur Blank needs to buy them all because he sure as hell knows what he is doing.

Steve

May 26th, 2011
11:39 am
I can’t for the life of me figure out why the AJC can’t do INVESTIGATIVE reporting on this, the NHL bylaws, why the Mayor can’t at least speak to promote the Thrashers (I agree with not providing taxpayer subsidy), and why the Chamber of Commerce is silent. This makes both the City of Atlanta and the AJC look terrible

G52PlM228

May 26th, 2011
12:28 pm

TMZ is more credible than the Canada media. Sources close to the story indicate.

Brett

May 26th, 2011
12:31 pm

anyone ever see “the human centipede”? if that operation in the movie could be performed involving ASG, Bettman, and select AJC staff members, that would be fantastic. Thanks in advance.