: News Article:
Preds officially buy Del Biaggio's shares - owned 95% by Middle TN residents
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07-21-2010, 09:55 PM
Join Date: Jun 2005
Location: Nashville, TN
Originally Posted by
PredsV82 – if I remember correctly (maybe someone remembers better), I believe he said something about getting a lower interest rate. It almost sounded like restructuring or refinancing existing loans to me. But I could be very, very wrong! Business is NOT my forte!
For some reason I always thought it was stated somewhere that Boots got a discount on his shares. So, he was given 27% but originally paid in less than what 27% would really cost. Anyone (101) know?
I believe you're right. Shoalts wrote this week about the need to refinance the loans by the end of the year and Cigarran mentioned today that the banks were very leery of working with the team with 27% of ownership in receivership...
Now that hurdle is cleared, it looks like Brett Wilson is finally coming aboard soon, and the $25 million lump sum payment next fall is also gone from hanging overhead...
All in all, it's just another GREAT day to be a Nashville Predators fan...
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