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Gillett Selling Liverpool Due To Financial Crisis

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Old
10-22-2008, 12:27 PM
  #1
Lucius
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Gillett Selling Liverpool Due To Financial Crisis

http://www.tsn.ca/soccer/story/?id=2...headlines_main

This may mean nothing, but if he gets hurt in this giant loan due to the global financial markets, that could backlash and hit the Canadiens too, in theory.

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10-22-2008, 12:34 PM
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Old
10-22-2008, 12:39 PM
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Playoff Beard
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well, good for Liverpool fans, they've been waiting for that moment. That would be great for them if a British business man bought the FC but a Dubai investor makes sense.

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10-22-2008, 12:41 PM
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CastroLeRobot
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He must be so pissed at his partner (the owner of Dallas). They had been offered 1.4 billion for the team and infrastructure a couple of months ago by a conglomerate of Dubai investors, but the Dallas red neck wouldn't sell to 'Arabs'

way to go, morron

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Old
10-22-2008, 12:43 PM
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Whitesnake
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Quote:
Originally Posted by Lucius View Post
http://www.tsn.ca/soccer/story/?id=2...headlines_main

This may mean nothing, but if he gets hurt in this giant loan due to the global financial markets, that could backlash and hit the Canadiens too, in theory.
We still coud give Dandenault in compensation.

Where it will hit the entire league is in the salary cap. With the dollar at 80ish cents now, the salary cap will not be at 56 next year.

Don't sign Gaborik!

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10-22-2008, 01:09 PM
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I don't think it would have much of an effect on the Habs if any, at least not in the short term.

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Old
10-22-2008, 01:13 PM
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Ozymandias
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Originally Posted by Whitesnake View Post
We still coud give Dandenault in compensation.

Where it will hit the entire league is in the salary cap. With the dollar at 80ish cents now, the salary cap will not be at 56 next year.

Don't sign Gaborik!
At least, they should have a good estimate of the backlash before the end of the season and it should show on the total revenues by the end of it. I just hope there will be enough in the escrow accounts to levy the losses. But this opens up another debate entirely, on whether the optional two years will be agreed upon for the CBA, and in turn, what will happen to the present salaries if next year's cap is lower and the escrow account cannot compensate for all the losses if the dollar keeps going down by the end of the 09-10 season.

I just hope Gillet isn't doing so bad overall, because the Habs could be the next toy he'll think of selling.

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Old
10-22-2008, 01:16 PM
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Damn i am in a financial crisis myself, if only i had something to sell.

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Old
10-22-2008, 01:49 PM
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Originally Posted by CabbageLegs View Post
Damn i am in a financial crisis myself, if only i had something to sell.
I'm ready to buy any Pat Faloon rookie card for 1$ a piece.

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Old
10-22-2008, 01:54 PM
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Ozymandias
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I'm ready to buy any Pat Faloon rookie card for 1$ a piece.
Nawh, I'd settle for Daigle's

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Old
10-22-2008, 02:28 PM
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Quote:
Originally Posted by Lucius View Post
http://www.tsn.ca/soccer/story/?id=2...headlines_main

This may mean nothing, but if he gets hurt in this giant loan due to the global financial markets, that could backlash and hit the Canadiens too, in theory.
yep and not sure if you seen but Nascar is talking about only running 26 cars next year. This year there running 42.Wonder if GG plans to run next year?

Sounds like some are feeling trouble




Nascar Hits Wall as Financial Crisis Dents Sponsorships Demand
http://www.bloomberg.com/apps/news?p...SSc&refer=home

Teams with family names revered in stock-car racing like Petty, Waltrip and Earnhardt may enter 2009 with unfunded cars. The circuit might even have trouble filling 43-car fields.

``There's maybe 26 teams that have sponsorship for next year, and five or six that have partial,'' said Michael Waltrip
-----------------------------------------------------------------------------------------------------------------------


Dale Earnhardt Jr., faces the prospect of a season without sponsorship for the team he owns in the second-tier Nationwide Series. Nascar's most recognizable driver hasn't yet found a company to replace the U.S. Navy as sponsor for his car, driven by Brad Keselowski.

He said he wouldn't run the car without a backer because of the estimated $7 million it takes to compete in Nationwide's 35 races.


Last edited by Artyukhin*: 10-22-2008 at 02:38 PM.
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Old
10-22-2008, 05:42 PM
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Wow. I'm actually starting to worry about the Habs :S Hopefully, he'll just raise ticket prices. Doesn't affect me all that much because they are already too expensive for me to buy!

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10-22-2008, 06:06 PM
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Lucius
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Wow. I'm actually starting to worry about the Habs :S Hopefully, he'll just raise ticket prices. Doesn't affect me all that much because they are already too expensive for me to buy!
I wouldn't worry about the Habs. They are profitable on their own. The only concern is if Gillett's finances go south, he may be forced to sell the team and that would be sad, as he's a good owner.

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10-22-2008, 08:05 PM
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The habs will be fine whatever happens. I'm a lot more concerned about the Impact's bid for the MLS.

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10-22-2008, 08:11 PM
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They suck anyways. Ask Qui Gon Dave or Hackett, they'll tell you.

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Old
10-22-2008, 08:48 PM
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They suck anyways. Ask Qui Gon Dave or Hackett, they'll tell you.
Ask an Everton fan what he thinks about the owners of Liverpool? LOL

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Old
10-22-2008, 08:52 PM
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Gillett isn't as liquid as the media makes it out to be. I'm surprised how heavily financed he is at this point in his life.

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Old
10-22-2008, 08:53 PM
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Ask an Everton fan what he thinks about the owners of Liverpool? LOL
lol...What about you? What do you think of Glazer?

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Old
10-22-2008, 08:54 PM
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lol...What about you? What do you think of Glazer?
He has a good NFL football team

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Old
10-22-2008, 09:59 PM
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Quote:
Originally Posted by Habs View Post
Gillett isn't as liquid as the media makes it out to be. I'm surprised how heavily financed he is at this point in his life.
that's why he's pissed he couldn't sell the team for 1.4 billion lol

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Old
10-22-2008, 10:40 PM
  #21
habfaninvictoria
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Wouldn't affect us at all. He may own several companies but they are all operated as separate entities. The Habs are a money maker, he doesn't use his bank account to finance us, and we generate enough revenue to pay the bills for the hockey operation. I'd be concerned if we were in the red as an organization and he didn't have the liquid assets to finance the team but it's not an issue.

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Old
10-23-2008, 12:33 AM
  #22
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Originally Posted by habfaninvictoria View Post
Wouldn't affect us at all. He may own several companies but they are all operated as separate entities. The Habs are a money maker, he doesn't use his bank account to finance us, and we generate enough revenue to pay the bills for the hockey operation. I'd be concerned if we were in the red as an organization and he didn't have the liquid assets to finance the team but it's not an issue.
Think again. The Gillett Entertainment Group is a parent holding company that provides cash flow for all of his Canadian investments and holdings.

It all depends where he's been tucking away his revenue. If its been in US investments, that could be bad. If he's been buying US dollars like a lot of people have, he'll be laughing.

I agree his finances are most likely safe, but he's got to be losing his search in his other ventures.

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Old
10-23-2008, 12:42 AM
  #23
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I honestly don't worry. He is owning one of the most successful teams in hockey. The Canadiens are not losing money anymore. He's not stuck in a loan. The team is safe.

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Old
10-23-2008, 10:48 AM
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Lucius
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Well with 12 PO games, he makes 24-36 Millions...
Right, but if he's getting light on the wallet, he'll also look at the fact that his incoming revenue has fallen by 20% based solely on the Canadian dollar, while his expenses have stayed the same.

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Old
10-23-2008, 10:56 AM
  #25
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ono, the billionaire is having "financial" issues.

I mean I love Gillett but there are people way way way worse off, it just feels meh to hear he has to sell stuff because of the crunch.

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