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jimjom wrote:Keeping Armark as concession manager.
Guess that means we are stuck with RC Cola.
Idoit40fans wrote:What did SMG do to Crosby?
DelPen wrote:Who was in charge of the security that ignored all the assaults?
pens#1 wrote:SMG- i could be wrong but wasnt that company owned or ran or had something to do with Ed Snider SMG=Snyder Management Group?
brwi wrote:pens#1 wrote:SMG- i could be wrong but wasnt that company owned or ran or had something to do with Ed Snider SMG=Snyder Management Group?
Yep. They also gave Howard Baldwin some upfront cash in return for a new deal with the Pens/ SMG that was very brutal to the Penguins back then. Loan sharks were very jealous of SMG! Once the Pens went into bankruptcy, that old deal got tossed and new one created.
Lt. Dish wrote:brwi wrote:pens#1 wrote:SMG- i could be wrong but wasnt that company owned or ran or had something to do with Ed Snider SMG=Snyder Management Group?
Yep. They also gave Howard Baldwin some upfront cash in return for a new deal with the Pens/ SMG that was very brutal to the Penguins back then. Loan sharks were very jealous of SMG! Once the Pens went into bankruptcy, that old deal got tossed and new one created.
That's right, brwi, and the brutal deal entailed (in part) no $$$ from the gate, concessions, or parking, right?
Ed Snider sold Spectacor's share well over a decade ago, but I thought of him immediately when I saw this piece of news. What an awful way to start the day. (Breakfast was the turning pointto set things right, and putting on my 2009 SC Champs t-shirt completed the exorcism.)
BurghersAndDogsSports wrote:Lt. Dish wrote:brwi wrote:pens#1 wrote:SMG- i could be wrong but wasnt that company owned or ran or had something to do with Ed Snider SMG=Snyder Management Group?
Yep. They also gave Howard Baldwin some upfront cash in return for a new deal with the Pens/ SMG that was very brutal to the Penguins back then. Loan sharks were very jealous of SMG! Once the Pens went into bankruptcy, that old deal got tossed and new one created.
That's right, brwi, and the brutal deal entailed (in part) no $$$ from the gate, concessions, or parking, right?
Ed Snider sold Spectacor's share well over a decade ago, but I thought of him immediately when I saw this piece of news. What an awful way to start the day. (Breakfast was the turning pointto set things right, and putting on my 2009 SC Champs t-shirt completed the exorcism.)
I dont remember specifics but they are different from food and ticket money. I think the deal was more for the money from concerts. Correct me if I am wrong but didnt we sell off our assets in a bad food deal too. It wasnt just SMG that did the loan sharking I think Aramark too.
Its not like they were bad companies the Pens needed money to keep the team together. The deals were not "horribly one sided", the Pens did get a ton of money up front. The issue was that in the next years the Penguins then had zero money coming in from them. I should clarify that of course SMG and Aramark still got the better of the deals but its not as bad as it sounded. It just took away their ability to make money in the long run.
BurghersAndDogsSports wrote:I dont remember specifics but they are different from food and ticket money. I think the deal was more for the money from concerts. Correct me if I am wrong but didnt we sell off our assets in a bad food deal too. It wasnt just SMG that did the loan sharking I think Aramark too.
Its not like they were bad companies the Pens needed money to keep the team together. The deals were not "horribly one sided", the Pens did get a ton of money up front. The issue was that in the next years the Penguins then had zero money coming in from them. I should clarify that of course SMG and Aramark still got the better of the deals but its not as bad as it sounded. It just took away their ability to make money in the long run.
brwi wrote:BurghersAndDogsSports wrote:I dont remember specifics but they are different from food and ticket money. I think the deal was more for the money from concerts. Correct me if I am wrong but didnt we sell off our assets in a bad food deal too. It wasnt just SMG that did the loan sharking I think Aramark too.
Its not like they were bad companies the Pens needed money to keep the team together. The deals were not "horribly one sided", the Pens did get a ton of money up front. The issue was that in the next years the Penguins then had zero money coming in from them. I should clarify that of course SMG and Aramark still got the better of the deals but its not as bad as it sounded. It just took away their ability to make money in the long run.
I don't remember any Baldwin deals with Aramark. SMG was getting all revenues from parking and concessions and I believe SMG was contracting out the concessions to Aramark themselves, not the Penguins. The other long-term killer deal he swung was to Fox Sports Pittsburgh, giving away all arena advertising revenues and marketing rights to them for some upfront cash.
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