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-   -   Current Atlanta Owners Settle Ownership Dispute; Belkin Out (http://hfboards.hockeysfuture.com/showthread.php?t=856232)

StevenintheATL 12-22-2010 06:48 PM

Current Atlanta Owners Settle Ownership Dispute; Belkin Out
 
Steve Belkin is out as one of the members of Atlanta Spirit, as an agreement has been reached to buy him out. Michael Gearon and Bruce Levenson will serve as managing partners.

http://thrashers.nhl.com/club/news.htm?id=547096

While it doesn't end the speculation in regards to the team's future, this settlement does pave the way to bring in additional investors or perhaps a new ownership group, as the lawsuit between Belkin and the rest of Atlanta Spirit LLC was more than likely a roadblock to any new investors.

Fugu 12-22-2010 07:11 PM

I moved this to its own thread. It's an issue that has dogged the team for years, and while related to the speculation about future owners, this deserves its own tag line.

LadyStanley 12-22-2010 07:37 PM

http://blogs.ajc.com/jeff-schultz-bl...-be-good-news/

AJC analysis

LadyStanley 12-22-2010 08:05 PM

http://www.theglobeandmail.com/sport...medium=twitter
AP story

(Also in AJC had this part)

Quote:

Levenson said he has had no success seeking additional investors for the Thrashers. He said he didn't know if the end of the lawsuit would make it easier to find investors who want to keep the Thrashers in Atlanta.
“That's possible,” Levenson said. “I don't know if somebody out there was reluctant to raise their hand because of the lawsuit.”

Joe T Choker 12-22-2010 08:09 PM

Quote:

Originally Posted by LadyStanley (Post 29730113)
http://www.theglobeandmail.com/sport...medium=twitter
AP story

(Also in AJC had this part)

so apathetic to that team

CHRDANHUTCH 12-22-2010 08:36 PM

Quote:

Originally Posted by Dave is a killer (Post 29730182)
so apathetic to that team

doesn't help the NBA Hawks either as a distraction, it's just as quiet there when the Hawks play.

Finlandia WOAT 12-22-2010 08:50 PM

Was he the one that actually cared about hockey?

If so then that means they are most likely being sold, to whom it remains unclear.

That stinks, with the new core they have, they are really turning things around.

Telfo 12-22-2010 10:00 PM

about time they got that crap sorted out, this can only be good for the team

peter sullivan 12-22-2010 10:25 PM

leaves me to wonder if this is the first public chapter in an already written book.

MAROONSRoad 12-22-2010 11:12 PM

Quote:

Originally Posted by peter sullivan (Post 29733243)
leaves me to wonder if this is the first public chapter in an already written book.

Indeed.

GHOST

Magnus Fulgur 12-22-2010 11:29 PM

Quote:

Originally Posted by peter sullivan (Post 29733243)
leaves me to wonder if this is the first public chapter in an already written book.

Well put. Stay tuned!

GetPucksDeep 12-23-2010 01:09 AM

Quote:

Originally Posted by Anton 2nd Pick (Post 29731145)
Was he the one that actually cared about hockey?

If so then that means they are most likely being sold, to whom it remains unclear.

That stinks, with the new core they have, they are really turning things around.

No - he was the one who was only interested in the NBA. If he had his preference, he'd only be an NBA owner.

Finlandia WOAT 12-23-2010 01:26 AM

Quote:

Originally Posted by GetPucksDeep (Post 29735107)
No - he was the one who was only interested in the NBA. If he had his preference, he'd only be an NBA owner.

Then congratulations! The turnaround continues unabated! :handclap::handclap:

StevenintheATL 12-23-2010 05:39 AM

Quote:

Originally Posted by GetPucksDeep (Post 29735107)
No - he was the one who was only interested in the NBA. If he had his preference, he'd only be an NBA owner.

Prior to teaming up with Atlanta Spirit, he tried to buy the Celtics twice (pulled out of the bidding the first time [1983] and was outbid later on when the team was back on the market). He was also part of one the ownership groups that was vying for the Charlotte expansion franchise that became the Bobcats but was outbid there as well. He also failed to buy into the Patriots as well.

http://www.bostonmagazine.com/articles/hoop_dreams/

It's a four year old article, but it gives some background on Steve Belkin and also covers some of the controversies involving him from the early days of Atlanta Spirit into the Joe Jackson matter that triggered this long soap opera.

Fourier 12-23-2010 06:32 AM

Anyone have a good idea for the thread title of part XXXVII of the up-coming Atlanta Thrasher epic?

My sympathies to Thrasher fans. These ownership nightmares are a huge drain on one's enthusiasm.

worstfaceoffmanever 12-23-2010 06:41 AM

Awesome news. Now they can focus more on building on their on-ice success without this circus looming overhead. Glad to see things are finally starting to look up for the Thrashers this year. :thumbu:

AtlantaWhaler 12-23-2010 06:50 AM

Quote:

“That's possible,” Levenson said. “I don't know if somebody out there was reluctant to raise their hand because of the lawsuit.”
Who would buy into a group of idiots battling themselves in court? And as far as finding an owner goes, the whole point of the litigation was to determine a value so Belkin could be bought out.

Yeah, I would think the lawsuit played a roll.

AtlantaWhaler 12-23-2010 06:53 AM

Quote:

Originally Posted by StevenintheATL (Post 29736176)
Prior to teaming up with Atlanta Spirit, he tried to buy the Celtics twice (pulled out of the bidding the first time [1983] and was outbid later on when the team was back on the market).

Someone please correct me if I'm wrong as I don't want to give false info, but I could of sworn hearing that Belkin is a huge Boston sports fan. I believe I heard that, in the first couple years of their ownership, he wore a Bruins jersey in the owners box at Philips when they were in town playing the Thrashers. He was a huge problem from the start.

AllByDesign 12-23-2010 09:19 AM

Quote:

Originally Posted by Fourier (Post 29736288)
Anyone have a good idea for the thread title of part XXXVII of the up-coming Atlanta Thrasher epic?

My sympathies to Thrasher fans. These ownership nightmares are a huge drain on one's enthusiasm.


Sure... 'Reinsdorf in again' :laugh:

headsigh 12-23-2010 09:53 AM

Quote:

Originally Posted by AllByDesign (Post 29737414)
Sure... 'Reinsdorf in again' :laugh:

inb4 Balsillie

tarheelhockey 12-23-2010 10:00 AM

Thank god that's over.

Magnus Fulgur 12-23-2010 10:14 AM

Quote:

Originally Posted by AtlantaWhaler (Post 29736352)
Someone please correct me if I'm wrong as I don't want to give false info, but I could of sworn hearing that Belkin is a huge Boston sports fan. I believe I heard that, in the first couple years of their ownership, he wore a Bruins jersey in the owners box at Philips when they were in town playing the Thrashers. He was a huge problem from the start.

He is (understandably) a huge Boston sports fan. He has season tix to both the Celtics and the Bruins, and his empire grew from having credit cards that were customized for your favorite sports teams.

I don't understand why Atlanta Spirit let him in the group, and I don't understand why the NHL let this group as it was configured buy the team. A Boston basketball guy, two guys from DC who like hockey a bit, and then some Atlanta basketball guys. Doesn't make sense. I suppose the league thought Hey, they'll own a great arena and have two franchises - if one doesn't do well at times, they'll be stable with the other! Seems like a fool-proof plan...unless you do a faceplant trying to execute it, as they have done.

Jeffrey93 12-23-2010 11:13 AM

Quote:

Originally Posted by Toxostoma Rufum (Post 29738240)
He is (understandably) a huge Boston sports fan. He has season tix to both the Celtics and the Bruins, and his empire grew from having credit cards that were customized for your favorite sports teams.

I don't understand why Atlanta Spirit let him in the group, and I don't understand why the NHL let this group as it was configured buy the team. A Boston basketball guy, two guys from DC who like hockey a bit, and then some Atlanta basketball guys. Doesn't make sense. I suppose the league thought Hey, they'll own a great arena and have two franchises - if one doesn't do well at times, they'll be stable with the other! Seems like a fool-proof plan...unless you do a faceplant trying to execute it, as they have done.

They don't own the arena.

Magnus Fulgur 12-23-2010 11:36 AM

Quote:

Originally Posted by Jeffrey93 (Post 29739116)
They don't own the arena.

Yadda Yadda yadda...yeah, they lease it from the city. But everytime a concert or event is there they're making a killing off of it.

tarheelhockey 12-23-2010 11:40 AM

Quote:

Originally Posted by Toxostoma Rufum (Post 29738240)
He is (understandably) a huge Boston sports fan. He has season tix to both the Celtics and the Bruins

=\= committed to hockey in Atlanta.

The NHL really needs to do a better job vetting owners.


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