BALSILLIE DROPS OUT....UN-F'ING BELIEVABLE....

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Postby Guins on Sat Dec 16, 2006 9:08 am

CP2 wrote:What did I miss today?

:D


It's been a busy day. Phone's been ringing off the hook.

Bettman screwed this deal up.

This is the best thing that could have happened for Pittsburgh. The Lemieux Group may not get the price they wanted but this team is NOT going to move....
NUH-UH you think!!!??? I think the bloom is off your Rose I thought you said Bettman was in on this deal with Cueball Balsillie??Better go talk to Tonya Payne & Bill (don't start the press conference without me) Peduto to get "Straightened"out :roll:
Last edited by Guins on Sat Dec 16, 2006 9:49 am, edited 1 time in total.
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Postby Zscout on Sat Dec 16, 2006 9:47 am

The interesting point is the commitment to stay in Pittsburgh is what killed the deal.
The value of the team just dropped about 50 million.
Also note - other than the IOC agreement, the current ownership is not bound to Pittsburgh after this season.
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Postby FLPensFan on Sat Dec 16, 2006 9:52 am

OK, my first comment is on page 8 of the thread, so I don't doubt that this has been said somewhere in this thread.

Right now, until more details come out, I really can't fault Balsillie for pulling out of the deal. If the statement is true that the NHL said the team cannot be moved under no circumstances, I don't think any potential owner would agree to that.

Granted, with a new arena, the Pens are going to have their best revenue potential ever (which would be a team's main reason for leaving, low revenues), but, I'll use an extreme example that would never happen.

Pens win IOC, a new arena gets built, but thousands of fans boycott games in protest of an arena built close to the Hill District. Capacity is only 50%, and the Pens are losing more money than they did in Mellon Arena.

With what the NHL was supposedly proposing, the new owner has to sit back and lose money, and has no chance to move the team. Further, they have the potential to have the NHL step in and take over the team, killing the chance for a profitable future sale.

That is an extreme case, but I don't think any businessman and potential owner is going to agree to something like those type of provisions.

IMHO, however, I still believe Balsillie had an eventual ulterior motive to move the team, and hopefully, his withdrawl came with inside information that IOC will win the license Wednesday. Otherwise, like everyone else in the media is saying, why not just wait until the license was awarded to make the decision, unless the NHL consent letter expired by a certain date, before the license was to be awarded.
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Postby Guins on Sat Dec 16, 2006 9:56 am

FLPensFan wrote:OK, my first comment is on page 8 of the thread, so I don't doubt that this has been said somewhere in this thread.

Right now, until more details come out, I really can't fault Balsillie for pulling out of the deal. If the statement is true that the NHL said the team cannot be moved under no circumstances, I don't think any potential owner would agree to that.

Granted, with a new arena, the Pens are going to have their best revenue potential ever (which would be a team's main reason for leaving, low revenues), but, I'll use an extreme example that would never happen.

Pens win IOC, a new arena gets built, but thousands of fans boycott games in protest of an arena built close to the Hill District. Capacity is only 50%, and the Pens are losing more money than they did in Mellon Arena.

With what the NHL was supposedly proposing, the new owner has to sit back and lose money, and has no chance to move the team. Further, they have the potential to have the NHL step in and take over the team, killing the chance for a profitable future sale.

That is an extreme case, but I don't think any businessman and potential owner is going to agree to something like those type of provisions.

IMHO, however, I still believe Balsillie had an eventual ulterior motive to move the team, and hopefully, his withdrawl came with inside information that IOC will win the license Wednesday. Otherwise, like everyone else in the media is saying, why not just wait until the license was awarded to make the decision, unless the NHL consent letter expired by a certain date, before the license was to be awarded.
:roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :D
Last edited by Guins on Sat Dec 16, 2006 9:58 am, edited 1 time in total.
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Postby Guins on Sat Dec 16, 2006 9:57 am

FLPensFan wrote:OK, my first comment is on page 8 of the thread, so I don't doubt that this has been said somewhere in this thread.

Right now, until more details come out, I really can't fault Balsillie for pulling out of the deal. If the statement is true that the NHL said the team cannot be moved under no circumstances, I don't think any potential owner would agree to that.

Granted, with a new arena, the Pens are going to have their best revenue potential ever (which would be a team's main reason for leaving, low revenues), but, I'll use an extreme example that would never happen.

Pens win IOC, a new arena gets built, but thousands of fans boycott games in protest of an arena built close to the Hill District. Capacity is only 50%, and the Pens are losing more money than they did in Mellon Arena. Gotta lay off the crack!!!

With what the NHL was supposedly proposing, the new owner has to sit back and lose money, and has no chance to move the team. Further, they have the potential to have the NHL step in and take over the team, killing the chance for a profitable future sale.

That is an extreme case, but I don't think any businessman and potential owner is going to agree to something like those type of provisions.

IMHO, however, I still believe Balsillie had an eventual ulterior motive to move the team, and hopefully, his withdrawl came with inside information that IOC will win the license Wednesday. Otherwise, like everyone else in the media is saying, why not just wait until the license was awarded to make the decision, unless the NHL consent letter expired by a certain date, before the license was to be awarded.
Gotta lay off the Crack :roll:
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Postby shawnlesky on Sat Dec 16, 2006 9:57 am

FLPensFan wrote:Pens win IOC, new arena gets built, but thousands of fans boycott games in protest of an arena built close to the Hill District. Capacity is only 50%, and the Pens are losing more money than they did in Mellon Arena.


With this team on the ice as it projects for opening night in a new arena, there will be no doubt a sell out crowd. The question is how many hundred games go by until the first non-sellout crowd. No protest of any kind could put a dent in it, not if they formed a human blockade.
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Postby eastonpensfan on Sat Dec 16, 2006 9:58 am

If the rumors are true and he dropped out after the NHL would want to make the ultimate choice if the team could be moved, then I am ecstatic. I never trusted him simply because of his past goals to move a team to Ontario.

Screw you Balsillie.
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Postby Bowser on Sat Dec 16, 2006 10:12 am

Rumors are hot that JB, Pens and NHL have orchestrated this news to place pressure on the gaming board to award the slots license to Isle of Capri.

There's a reason why Sawyer refuses to make a critical comment about JB.
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Postby bill from turtle creek on Sat Dec 16, 2006 10:18 am

Another rumor is that JB seemed conciliatory about Plan B so as to release the Gaming Board from feeling obligated to give the license to IoC, thus giving him an easy pass out of town when he decided Plan B really couldn't work, after all.


Who knows? It would be amusing if this staged power play did indeed make the Gaming Board award the license to IoC, and then miraculously have JB come back in the picture. However, if so, you'd have to believe that state and local government would never, ever again believe a word that the Penguins say, and that's not a good situation to be in.


Sure hope somebody writes a book about all of this when it's done.
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Postby prez41 on Sat Dec 16, 2006 10:22 am

STOP THE WORLD I WANT TO GET OFF!!!!!!!!

I can't take it anymore. I figure I'm going to have a stroke by Wednesday. It seems like this is good news, but as a lot have pointed out, it is hard to speculate without having a clue as to what is going on behind the scenes.
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Postby Guins on Sat Dec 16, 2006 10:34 am

Bowser wrote:Rumors are hot that JB, Pens and NHL have orchestrated this news to place pressure on the gaming board to award the slots license to Isle of Capri.

There's a reason why Sawyer refuses to make a critical comment about JB.
Bowser that's why I asked you last night about the time that they announced JB buy the team.It was on opening night,Maximum coverage.Just like now ,there's something wrong in Denmark. :shock:
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Postby Stoosh on Sat Dec 16, 2006 10:34 am

Granted, with a new arena, the Pens are going to have their best revenue potential ever (which would be a team's main reason for leaving, low revenues), but, I'll use an extreme example that would never happen.

Pens win IOC, a new arena gets built, but thousands of fans boycott games in protest of an arena built close to the Hill District. Capacity is only 50%, and the Pens are losing more money than they did in Mellon Arena.

With what the NHL was supposedly proposing, the new owner has to sit back and lose money, and has no chance to move the team. Further, they have the potential to have the NHL step in and take over the team, killing the chance for a profitable future sale.


I know you said this is an extreme example that would never really happen, so I'm not harping on this. Plain and simply, thousands of fans won't protest an arena/slots parlor near the Hill because most of those protesting likely don't give a damn about the Pens as it is.

But I'll add this...compared with what he could've had either under the IoC plan OR under a very favorable lease negotiated under Plan B, Balsillie was bound to lose some money on the deal if he moved anyway. On top of all the costs associated with physically relocating the assets of the organization, startup costs at the new destination and possibly paying out indemnification rights to certain markets,...

- ...if he moved the team to KC, he would be bound by a lease at the Sprint Center that's already drawn up and already directs some of the revenue streams to AEG, the arena manager. And there was the matter of moving to a very unknown, uncertain market.

- ...if he moved the team to Hamilton, he'd lose money by bearing the costs to upgrade Copps Coliseum to at least minimum NHL standards, and then lose more money by staying in Copps permanently or waiting a few years for Hamilton to build a new arena.

- ...if he moved to Winnipeg, he'd have to add seats to an arena that only seats 15,000 for hockey right now and likely add luxury boxes. He'd bear those costs.

- ...if the moved the team to Kitchener/Waterloo...you know what, I'm not even going to discuss Kitchener/Waterloo because plain and simply, there was no place for that team to play next year. The only arena in Kitchener is the Kitchener Memorial Auditorium where the OHL Rangers play, and that doesn't even seat 6,000. Kitchener/Waterloo was a pipe dream thought up by people who simply took the facts that Balsillie is loaded and that he's from that area, put two and two together and tried to rationalize that he'd move the team there and essentially fund a new arena out of the goodness of his heart. It doesn't happen and even if it did, he couldn't do it in less than eight months.
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Postby Stoosh on Sat Dec 16, 2006 10:37 am

Who knows? It would be amusing if this staged power play did indeed make the Gaming Board award the license to IoC, and then miraculously have JB come back in the picture.


The possibility of this situation is kind of what Balsillie was alluding to in the comments he made in the Tribune-Review article.

If this drops the price that the Lemieux Group can get for the Pens back closer to $125-150 million, I'd have to wonder if that means someone like Renacci would emerge as a top candidate to now purchase the team.
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Postby bill from turtle creek on Sat Dec 16, 2006 10:41 am

I'm sure that there is so much we don't know about what has happened behind the scenes for the last year. I hope the details get out someday.

How about Sid, though? He's still living with Lemieux, after all. He's got to know some of this stuff, because if I'm sitting around the dining room table with ML I'm sure going to ask questions. He's got the best viewing location of all of us, and it's just another example of how Crosby is always in the right place at the right time.
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Postby newarenanow on Sat Dec 16, 2006 10:55 am

CP2 wrote:What did I miss today?

:D


It's been a busy day. Phone's been ringing off the hook.

Bettman screwed this deal up.

This is the best thing that could have happened for Pittsburgh. The Lemieux Group may not get the price they wanted but this team is NOT going to move....


I hope you're right about that last comment.
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Postby Guins on Sat Dec 16, 2006 10:58 am

newarenanow wrote:
CP2 wrote:What did I miss today?

:D


It's been a busy day. Phone's been ringing off the hook.

Bettman screwed this deal up.

This is the best thing that could have happened for Pittsburgh. The Lemieux Group may not get the price they wanted but this team is NOT going to move....


I hope you're right about that last comment.
Don't believe a thing he types he's a fraud
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Postby bill from turtle creek on Sat Dec 16, 2006 10:59 am

I don't think he is a fraud. Not a bit.
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Postby RedLightDistrict on Sat Dec 16, 2006 11:02 am

Pens win IOC, a new arena gets built, but thousands of fans boycott games in protest of an arena built close to the Hill District. Capacity is only 50%, and the Pens are losing more money than they did in Mellon Arena.


Um, the thousands from the Hill District don't really come to Penguins games anyway!
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Postby Guins on Sat Dec 16, 2006 11:06 am

bill from turtle creek wrote:I don't think he is a fraud. Not a bit.
Well using a blog who said the Pens chances of staying were 25%.when someone called him on it he said it was an accurate report because they quoted "EXPERTS" that he knows.The "EXPERTS were Tonya Payne & Bill(don't start the PC without me)Peduto.Experts? they're councilpersons in Pittsburgh not exactly experts
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Postby penny lane on Sat Dec 16, 2006 11:08 am

owtahear wrote:17,028 tonight....Pens up 40% in the ratings....

It is as solid a hockey market as any in the US and the NHL cannot afford to lose that.

If this was the Caps, Panthers or Isles............a whole different story.


A salute to the standing room only crowd. I had no intention &
no ticket for last night's game...until I heard the news.

Hats off to Ryan Malone for putting the capper on a wild day!
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Postby RedLightDistrict on Sat Dec 16, 2006 11:11 am

And I do think it's possible that this was something the NHL, Pens & Balsillie did to exert influence on the gaming board. We'll see!
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Postby Pghsports on Sat Dec 16, 2006 11:41 am

The Globe and Mail has a pretty decent article. It mostly says the same things as everyone else, but some of the quotes from "sources" near the bottom are interesting
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Postby bill from turtle creek on Sat Dec 16, 2006 11:52 am

But, there is still NO DECENT PLACE TO MOVE THIS TEAM. We've been over this a million times. It doesn't matter who the owner is, unless it's Les Alexander. There simply isn't a place to go. Period. That makes sense.
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Postby newarenanow on Sat Dec 16, 2006 11:53 am

Guins wrote:
bill from turtle creek wrote:I don't think he is a fraud. Not a bit.
Well using a blog who said the Pens chances of staying were 25%.when someone called him on it he said it was an accurate report because they quoted "EXPERTS" that he knows.The "EXPERTS were Tonya Payne & Bill(don't start the PC without me)Peduto.Experts? they're councilpersons in Pittsburgh not exactly experts


That may have been wrong, but he has been right too many times. And as in another thread, even Admin has said he is legit. He even admitted he doesn't know everything, but has some idea what is going on. Until he screws up majorly, or RJ says he's a fraud, I'd rather take it views into consideration than many others on here.
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