HFBoards

Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, and NHL revenues.

Current Atlanta Owners Settle Ownership Dispute; Belkin Out

Reply
 
Thread Tools
Old
12-23-2010, 12:35 PM
  #26
Einstein Theory
Registered User
 
Einstein Theory's Avatar
 
Join Date: Dec 2010
Posts: 153
vCash: 500
Quote:
Originally Posted by tarheelhockey View Post
=\= committed to hockey in Atlanta.

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

If the NHL actually did vetting of owners, then what would we have to talk about here?

Einstein Theory is offline   Reply With Quote
Old
12-23-2010, 12:38 PM
  #27
MAROONSRoad
f/k/a Ghost
 
MAROONSRoad's Avatar
 
Join Date: Feb 2007
Location: Maroons Rd.
Country: Canada
Posts: 4,069
vCash: 500
Quote:
Originally Posted by tarheelhockey View Post
=\= committed to hockey in Atlanta.

The NHL really needs to do a better job vetting owners.
And cities or markets.

GHOST

MAROONSRoad is offline   Reply With Quote
Old
12-23-2010, 01:54 PM
  #28
cbcwpg
Registered User
 
cbcwpg's Avatar
 
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 5,823
vCash: 350
Quote:
Originally Posted by tarheelhockey View Post
=\= committed to hockey in Atlanta.

The NHL really needs to do a better job vetting owners.
Then who would own the teams?

Considering that at one time the NHL spent $750 to vet John Spano ( previous NYI owner ) while other leagues at the time were spending $30,000 to vet someone, the NHL gets what it deserves.

Act bush league and you get bush league.

cbcwpg is offline   Reply With Quote
Old
12-23-2010, 02:26 PM
  #29
Pegger5
Registered User
 
Join Date: Jan 2007
Posts: 260
vCash: 500
Quote:
Originally Posted by Jeffrey93 View Post
They don't own the arena.
They own the "managing lease" of Phillips. They just can't sell or leverage the building itself... All revenues coming from that building they get..

Pegger5 is offline   Reply With Quote
Old
12-23-2010, 02:32 PM
  #30
kdb209
Global Moderator
 
kdb209's Avatar
 
Join Date: Jan 2005
Posts: 12,428
vCash: 500
Quote:
Originally Posted by Thomas Steen View Post
They own the "managing lease" of Phillips. They just can't sell or leverage the building itself... All revenues coming from that building they get..
And since they don't own the land or building, they don't have to pay property tax.

In many cases, being granted the Master Lease is more lucrative than actually owning the building.

kdb209 is offline   Reply With Quote
Old
12-23-2010, 02:36 PM
  #31
StevenintheATL
Registered User
 
StevenintheATL's Avatar
 
Join Date: Jun 2004
Location: The ATL!
Country: United States
Posts: 2,747
vCash: 500
Quote:
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.
If I remember correctly, he was the one that ponied up the most money and had the largest single stake in the group, 30%. Without his involvement, Atlanta Spirit, LCC would have never gotten a sniff.

One thing to remember is that the Atlanta Spirit, LLC deal came out of nowhere. AOL-Time Warner (as Time Warner was called at the time) had been dealing with David McDavid and had a deal pretty much in place when this deal with Atlanta Spirit was announced. The lawsuit that Mr. McDavid had against Time Warner was only recently settled as well (Time Warner spent nearly two years appealing the verdict.), with Mr. McDavid getting a tidy sum from Time Warner for breach of contract. The sale of the Hawks, Thrashers and the operating rights to Philips Arena ended up with multiple lawsuits and court cases.

During the civil case between David McDavid and Time Warner in 2008, some of the members of Atlanta Spirit were called to testify and Rutherford Seydel actually testified under oath to matters that had been long speculated about the finances of Atlanta Spirit. He talked about how his own stake in the ownership group had shrunk as the result of not being able to fund some of the capital calls that all of the owners had to make.

http://www.sportsbusinessdaily.com/article/125532

StevenintheATL is offline   Reply With Quote
Old
12-23-2010, 03:55 PM
  #32
ps241
The Danish Dash!
 
ps241's Avatar
 
Join Date: Mar 2010
Posts: 10,847
vCash: 50
Quote:
Originally Posted by kdb209 View Post
And since they don't own the land or building, they don't have to pay property tax.

In many cases, being granted the Master Lease is more lucrative than actually owning the building.
interesting kdb209 in Canada the property tax bill in every case i have dealt with is passed on from the land owner to the tenant or tenants....who is picking up the tab in Atlanta or is the property tax being waved or subsidized by an external source?

ps241 is online now   Reply With Quote
Old
12-23-2010, 06:09 PM
  #33
kdb209
Global Moderator
 
kdb209's Avatar
 
Join Date: Jan 2005
Posts: 12,428
vCash: 500
Quote:
Originally Posted by ps241 View Post
interesting kdb209 in Canada the property tax bill in every case i have dealt with is passed on from the land owner to the tenant or tenants....who is picking up the tab in Atlanta or is the property tax being waved or subsidized by an external source?
Because the property is gov't owned by AFCRA (the Atlanta Fulton County Recreational Authority), it is exempt from property taxes.

kdb209 is offline   Reply With Quote
Old
12-23-2010, 11:03 PM
  #34
ps241
The Danish Dash!
 
ps241's Avatar
 
Join Date: Mar 2010
Posts: 10,847
vCash: 50
Quote:
Originally Posted by kdb209 View Post
Because the property is gov't owned by AFCRA (the Atlanta Fulton County Recreational Authority), it is exempt from property taxes.
thanks kbd i have not spent much time on the Atlanta deal

ps241 is online now   Reply With Quote
Old
12-23-2010, 11:18 PM
  #35
danishh
Dat Stache
 
danishh's Avatar
 
Join Date: Dec 2006
Location: mtl/ott/somewhere
Country: Canada
Posts: 29,654
vCash: 50
basically, they're still looking for either additional investors or to sell one or both teams outright, and settling the lawsuit will just make that process a bit easier. Right?

__________________
RIP Kev.
danishh is offline   Reply With Quote
Old
12-24-2010, 10:56 PM
  #36
jol
Registered User
 
jol's Avatar
 
Join Date: Jan 2003
Location: Miami Beach, Florida
Posts: 1,565
vCash: 500
Quote:
Originally Posted by ps241 View Post
interesting kdb209 in Canada the property tax bill in every case i have dealt with is passed on from the land owner to the tenant or tenants....who is picking up the tab in Atlanta or is the property tax being waved or subsidized by an external source?
In USA, it's tenant market right now (generally), tenants don't pay all the owner's costs. Of course these arenas are owned by cities or counties and therefore no propertytaxes.

JOL

jol is offline   Reply With Quote
Old
12-24-2010, 11:31 PM
  #37
ps241
The Danish Dash!
 
ps241's Avatar
 
Join Date: Mar 2010
Posts: 10,847
vCash: 50
Quote:
Originally Posted by jol View Post
In USA, it's tenant market right now (generally), tenants don't pay all the owner's costs. Of course these arenas are owned by cities or counties and therefore no property taxes.

JOL
thanks jol cute kid....Christmas should be fun tomorrow.....i have a two year old son and i can't wait for tomorrow

the balance of power has shifted to the tenant in Canada as well but for the most part it is pretty market specific......much more attractive inducement packages from landlords in exchange for 10 years of certainty on term.....unprecedented really.

That being said i haven't heard of property taxes being eaten by the landlord yet......looks like i should be leasing in FLA

ps241 is online now   Reply With Quote
Reply

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 06:14 AM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. 2014 All Rights Reserved.