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Current Atlanta Owners Settle Ownership Dispute; Belkin Out

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12-22-2010, 06:48 PM
  #1
StevenintheATL
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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.

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Old
12-22-2010, 07:11 PM
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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.

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Old
12-22-2010, 07:37 PM
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LadyStanley
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http://blogs.ajc.com/jeff-schultz-bl...-be-good-news/

AJC analysis

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12-22-2010, 08:05 PM
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LadyStanley
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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.”

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Old
12-22-2010, 08:09 PM
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Joe T Choker
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Originally Posted by LadyStanley View Post
http://www.theglobeandmail.com/sport...medium=twitter
AP story

(Also in AJC had this part)
so apathetic to that team

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Old
12-22-2010, 08:36 PM
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Quote:
Originally Posted by Dave is a killer View Post
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.

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Old
12-22-2010, 08:50 PM
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Finlandia WOAT
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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.

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Old
12-22-2010, 10:00 PM
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about time they got that crap sorted out, this can only be good for the team

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12-22-2010, 10:25 PM
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peter sullivan
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leaves me to wonder if this is the first public chapter in an already written book.

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12-22-2010, 11:12 PM
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Originally Posted by peter sullivan View Post
leaves me to wonder if this is the first public chapter in an already written book.
Indeed.

GHOST

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Old
12-22-2010, 11:29 PM
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Magnus Fulgur
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Originally Posted by peter sullivan View Post
leaves me to wonder if this is the first public chapter in an already written book.
Well put. Stay tuned!

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Old
12-23-2010, 01:09 AM
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Originally Posted by Anton 2nd Pick View Post
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.

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12-23-2010, 01:26 AM
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Originally Posted by GetPucksDeep View Post
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!

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Old
12-23-2010, 05:39 AM
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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.

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12-23-2010, 06:32 AM
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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.

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12-23-2010, 06:41 AM
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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.

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Old
12-23-2010, 06:50 AM
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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.

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12-23-2010, 06:53 AM
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Quote:
Originally Posted by StevenintheATL View Post
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.

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12-23-2010, 09:19 AM
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Originally Posted by Fourier View Post
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'

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Old
12-23-2010, 09:53 AM
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Sure... 'Reinsdorf in again'
inb4 Balsillie

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Old
12-23-2010, 10:00 AM
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Thank god that's over.

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Old
12-23-2010, 10:14 AM
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Originally Posted by AtlantaWhaler View Post
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.

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12-23-2010, 11:13 AM
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Originally Posted by Toxostoma Rufum View Post
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.

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12-23-2010, 11:36 AM
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Originally Posted by Jeffrey93 View Post
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.


Last edited by Magnus Fulgur: 12-23-2010 at 11:43 AM.
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Old
12-23-2010, 11:40 AM
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tarheelhockey
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Originally Posted by Toxostoma Rufum View Post
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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