Wilson is a well-known Canadian businessman and philanthropist based in Calgary, AB. He is currently Chairman of Canoe Financial, an investment management firm with over $2.0 Billion in assets.
that is infinitely excellent news. Would have liked, perhaps, a ten percent stake or so...but Wilson brings more than money to the table. He's a shrewd businessman.
I think much more than money he brings credibility.
Now we have a legit rainmaker in the ownership group.
I am going to ask again here, as i have asked before and got no response.... does anyone know what David Freeman's status is? Has he resolved his issues with the IRS? If so, will he be coming back as the managing partner?
“Joining the Preds ownership group has been contemplated and studied for quite some time,” Wilson said in a statement released by the team. “The local owners and I are totally committed to keeping the NHL in Nashville. The business model, both on and off the ice, continues to evolve and improve, and I have been captivated by the market's enthusiasm for our team. Now is the right time for me to join and contribute in my way in helping the organization continue growing from a contender into a Stanley Cup champion.”
Before everybody starts writing checks with the Preds logo on it remember what Wilson's inclusion does right now. The article I'm thinking about that addresses what this means is "archived for subscription only", but I remember Cigarran saying that Wilson stabilizes their overall financial footing, when coupled with their refinancing awhile back makes their debt more manageable and could minimize the financial risk of the current ownership group. Stabilizing the finances of the organization and minimizing the individual risk among the group has been a goal they've been working on since day one, and that is much closer with this deal. Maybe one day this means more money on the table for the on ice product, but for now it just shores things up.
The good news keeps coming for you guys - great job getting him in as part-owner.
His philanthropy roots will do nothing but good for your organization - I really enjoyed watching him on Dragon's Den, where he was always willing to take a chance on helping people out. Sad he isn't on the show any longer.
Congrats again guys - seriously, your team is garnering much respect and proving they're first class. Love it.
Before everybody starts writing checks with the Preds logo on it remember what Wilson's inclusion does right now. The article I'm thinking about that addresses what this means is "archived for subscription only", but I remember Cigarran saying that Wilson stabilizes their overall financial footing, when coupled with their refinancing awhile back makes their debt more manageable and could minimize the financial risk of the current ownership group. Stabilizing the finances of the organization and minimizing the individual risk among the group has been a goal they've been working on since day one, and that is much closer with this deal. Maybe one day this means more money on the table for the on ice product, but for now it just shores things up.
exactly. this deas not mean the pocketbooks are open
Wilson bought an equity share only and wont put any operational money in, if things are like they were when this first came up.
I suspect what he did was cashed in some of the owners debt in exchange for a share, which in turn makes each of them less vulnerable.
also, you would have to think that if a worst case scenario arose, he'd have right of firts refusal before the team could be sold to anyone else...
Are the pocketbooks open? No
Is this a good sign? Absolutely.
Random Question: Why don't the Preds let fans buy shares? Is it illegal? I know the Packers do it, but not sure about NHL rules. That could give us a big boost in money, plus makes fans feel more involved.
Are the pocketbooks open? No
Is this a good sign? Absolutely.
Random Question: Why don't the Preds let fans buy shares? Is it illegal? I know the Packers do it, but not sure about NHL rules. That could give us a big boost in money, plus makes fans feel more involved.
Quote:
Originally Posted by codeyh
After the Packers did it, every other league basically put rules in place to block it.
Right. The NHL does not allow for shares of a franchise to be sold. You can have an ownership group, but you cannot turn the team into what is essentially a publicly traded entity.
Good news, though. This has been in the works for a while now, and I'm glad it finally happened.
So to recap my day:
Got my classes for next semester
Learned that the email telling me I still had things to do in order to get my financial aid for next semester was a glitch in the system, and the money is already sitting there waiting for 12 January to roll around
Finished what I imagine will be an A paper, especially considering I put about four times as much work into this one as I did the last (which I received an A on)
Learned that Wilson is finally on board with the owners
Am about to eat a giant turkey leg
Yeah... it's a good day. Rain be damned
Last edited by ThirdManIn: 11-16-2011 at 04:02 PM.
exactly. this deas not mean the pocketbooks are open
Wilson bought an equity share only and wont put any operational money in, if things are like they were when this first came up.
I suspect what he did was cashed in some of the owners debt in exchange for a share, which in turn makes each of them less vulnerable.
also, you would have to think that if a worst case scenario arose, he'd have right of firts refusal before the team could be sold to anyone else...
If it is as you say (a debt for equity swap), then I think it should free up some cash for the franchise's operations. I don't know the Preds debt load or the invested amount by Wilson, but from a purely cash perspective, it should free up capital designated for interest payments to go to other means. Granted, it likely frees up less than $1M in annual interest payments, but every little bit helps.
is this the thread where we are supposed to think Poile has unlimited dollars to the point where we demand a deal to mortgage the future for a top 3 rental?
