HFBoards

Go Back   HFBoards > NHL Eastern Conference > Metropolitan Division > Columbus Blue Jackets
Notices

Nationwide Arena/CBJ Finances Discussion II

Reply
 
Thread Tools
Old
11-30-2011, 06:59 PM
  #301
CapnCornelius
Registered User
 
CapnCornelius's Avatar
 
Join Date: Oct 2006
Posts: 10,923
vCash: 500
Quote:
Originally Posted by Fred Glover View Post
What are the names of the businesses that you speak of?
Talk to any of Natiowide's current or former tenants in the District.

CapnCornelius is offline   Reply With Quote
Old
11-30-2011, 07:32 PM
  #302
TaketheCannoli
RIP
 
TaketheCannoli's Avatar
 
Join Date: Nov 2006
Location: Ohio
Country: United States
Posts: 8,222
vCash: 500
Quote:
Originally Posted by CapnCornelius View Post
It isn't pointless for an entity they are asking for financing from (and that's really what this all is, the County using its tax exempt status to refinance this Arena at a lower rate than the Jackets would get for a lump sum payment) to ask to see their books. Any creditor worth a crap would do that before lending tens of millions of dollars. If the City and County aren't, they are fools. Particularly since some of the team's largest line items are associated with the asset they are acquiring.

Considering the sweet heart deal that they are getting compared to what they would get from a major financial institution which would require them to do things like maintain a certain net worth and liquidity (in addition to annual, quarterly and possibly even monthly financial information), it seems to me that some reasonable amount of financial disclosure should be required.

As for your concerns that somehow what they would disclose would be used as leverage by the PA, get real. For one thing, the Jackets are exactly the type of information the league would like to leak because they are a cherry-picked example of "why the CBA doesn't work." Nevermind the fact that it is the revenue sharing amongst owners and not the contracts of players that is the biggest issue for why the hard cap has not solved the financial problems of middle market teams.
I would imagine they have had a look at the P&L and Balance Sheet. I also suspect it would have been under a non-disclosure agreement. I believe this is done in Nashville as well. Bits and pieces of the Preds income statement come out now and again, but I've never seen the entire document released.

TaketheCannoli is offline   Reply With Quote
Old
11-30-2011, 07:43 PM
  #303
Fred Glover
Chief of Sinners
 
Fred Glover's Avatar
 
Join Date: Nov 2007
Location: Ohio
Country: Scotland
Posts: 4,000
vCash: 84
Quote:
Originally Posted by CapnCornelius View Post
Talk to any of Natiowide's current or former tenants in the District.
I asked for names. You seem to have your hand on the pulse of what is going on 3000 or so miles away. You made the assertion. I simply asked for names. Back up what you have claimed. Give me names. You are not under any type of confidentiality. Name the names. We have to quote sources here. Back it up. That is all I am asking.

Fred Glover is offline   Reply With Quote
Old
12-01-2011, 08:35 AM
  #304
CapnCornelius
Registered User
 
CapnCornelius's Avatar
 
Join Date: Oct 2006
Posts: 10,923
vCash: 500
Quote:
Originally Posted by Fred Glover View Post
I asked for names. You seem to have your hand on the pulse of what is going on 3000 or so miles away. You made the assertion. I simply asked for names. Back up what you have claimed. Give me names. You are not under any type of confidentiality. Name the names. We have to quote sources here. Back it up. That is all I am asking.
I'm glad you are aware what confidentiality requirements I'm under. From now on I'll run my conflicts checks through you.

The world is a lot smaller than it was when Fred Glover was playing in the AHL.

CapnCornelius is offline   Reply With Quote
Old
12-01-2011, 01:12 PM
  #305
Fred Glover
Chief of Sinners
 
Fred Glover's Avatar
 
Join Date: Nov 2007
Location: Ohio
Country: Scotland
Posts: 4,000
vCash: 84
Quote:
Originally Posted by CapnCornelius View Post
I'm glad you are aware what confidentiality requirements I'm under. From now on I'll run my conflicts checks through you.

The world is a lot smaller than it was when Fred Glover was playing in the AHL.
Cute

Fred Glover is offline   Reply With Quote
Old
12-13-2011, 09:13 AM
  #306
pete goegan
HFBoards Sponsor
 
pete goegan's Avatar
 
Join Date: Jun 2006
Posts: 11,084
vCash: 500
Here's the latest:

http://www.bizjournals.com/columbus/...ide-arena.html

pete goegan is offline   Reply With Quote
Old
12-13-2011, 10:06 AM
  #307
blahblah
Registered User
 
Join Date: Nov 2005
Posts: 16,000
vCash: 500
Quote:
Originally Posted by CapnCornelius View Post
As for your concerns that somehow what they would disclose would be used as leverage by the PA, get real. For one thing, the Jackets are exactly the type of information the league would like to leak because they are a cherry-picked example of "why the CBA doesn't work." Nevermind the fact that it is the revenue sharing amongst owners and not the contracts of players that is the biggest issue for why the hard cap has not solved the financial problems of middle market teams.







blahblah is offline   Reply With Quote
Old
12-13-2011, 01:25 PM
  #308
Viqsi
"They're back."
 
Viqsi's Avatar
 
Join Date: Oct 2007
Location: The Scary Internet
Country: United States
Posts: 20,095
vCash: 500
Send a message via AIM to Viqsi
Quote:
Originally Posted by pete goegan View Post
Nice to have more good news for a change.

Quote:
Originally Posted by blahblah View Post






I'm afraid I'm having trouble following the number sequence here. Was that last line supposed to be eight smilies, or would that be the line after this one, with the first line simply being an anomaly?

__________________
Remember - when you're a hockey fan, it's not "reckless driving", it's "good forechecking".
"Viqsi, you are our sweet humanist..." --mt-svk on the CBJ boards

Thanks, Howson, for cleaning up MacLean's toxic waste. Welcome, Kekalainen; let's get good things built!
Viqsi is offline   Reply With Quote
Old
12-13-2011, 09:10 PM
  #309
Fred Glover
Chief of Sinners
 
Fred Glover's Avatar
 
Join Date: Nov 2007
Location: Ohio
Country: Scotland
Posts: 4,000
vCash: 84
This is indeed good news! Perhaps an early Christmas present for Jacket fans on December 20? It would be nice to focus as a fan on hockey and not on whether the club will leave Columbus.

Fred Glover is offline   Reply With Quote
Old
12-15-2011, 10:55 AM
  #310
Dr. Fire
What, me worry?
 
Dr. Fire's Avatar
 
Join Date: Jun 2007
Location: Jacketstown, Ohio
Country: United States
Posts: 6,598
vCash: 500
UPDATE

The final piece of the puzzle?

Quote:
Franklin County commissioners are expected to approve the $42.5 million purchase of Nationwide Arena on Tuesday, nearly three months after the Columbus City Council voted for the deal, intended to improve lease terms for the cash-strapped Blue Jackets.

Commissioners have signaled that they will agree to spend up to 32 percent of anticipated casino revenue beginning in January 2013 through 2039 to help fund the arena purchase and the costs to operate it. The county is not obligated to give any casino revenue earned before that date and will not have to use other funds if casino revenue falls short of the projections.
http://www.bluejacketsxtra.com/conte...next-week.html

Dr. Fire is offline   Reply With Quote
Old
12-15-2011, 12:03 PM
  #311
Robert
BOB
 
Robert's Avatar
 
Join Date: Mar 2006
Location: KY & Lime Lake NY
Country: United States
Posts: 30,044
vCash: 500
Send a message via MSN to Robert
For the good of the City, County and State this deal needs to be finalized, I still think rejecting the casino from being built in the Arena District yet using the casino money to save the Arena District is hypocritical but in the end the greater good is being served. I look forward to seeing a new name on the tax payers new arena..

Robert is offline   Reply With Quote
Old
12-15-2011, 12:31 PM
  #312
fox2usp
Inbred Cat
 
fox2usp's Avatar
 
Join Date: Jul 2008
Location: Pumpkinville, Ohio
Country: United States
Posts: 785
vCash: 500
Quote:
Originally Posted by Robert View Post
For the good of the City, County and State this deal needs to be finalized, I still think rejecting the casino from being built in the Arena District yet using the casino money to save the Arena District is hypocritical but in the end the greater good is being served. I look forward to seeing a new name on the tax payers new arena..
You'll be waiting quite awhile Robert. Nationwide will now have to pay for naming rights but they've already said publicly that they intend to keep it "Nationwide Arena".

__________________
"I don't think I'll live long enough to forgive Howson for knocking off my rose colored glasses. He's a horrible, wretched, little stinker of a man. I just hope he wakes up in the morning and can't poop." -CBJCougar (on the Klesla trade), March 23, 2011
fox2usp is offline   Reply With Quote
Old
12-15-2011, 12:32 PM
  #313
cydawg
#DefendNWA
 
cydawg's Avatar
 
Join Date: Jun 2007
Location: Gahanna, OH
Country: United States
Posts: 2,940
vCash: 500
Quote:
Originally Posted by Robert View Post
For the good of the City, County and State this deal needs to be finalized, I still think rejecting the casino from being built in the Arena District yet using the casino money to save the Arena District is hypocritical but in the end the greater good is being served. I look forward to seeing a new name on the tax payers new arena..
Well that wont happen for at least 10 years as part of the deal to get Nationwide to buy a 30% stake in the team is they also pay for 10 years of naming rights. I might be wrong on exactly where into the deal that factors in but I do remember reading that in a couple different articles when the deal was first made public.

cydawg is offline   Reply With Quote
Old
12-15-2011, 01:19 PM
  #314
Robert
BOB
 
Robert's Avatar
 
Join Date: Mar 2006
Location: KY & Lime Lake NY
Country: United States
Posts: 30,044
vCash: 500
Send a message via MSN to Robert
I was not aware of that, guess I'll have to wait.

Robert is offline   Reply With Quote
Old
12-15-2011, 03:25 PM
  #315
Doug19
Registered User
 
Join Date: Oct 2008
Location: Columbus, OH
Country: Aland Islands
Posts: 6,021
vCash: 50
should have given Nationwide a 50% stake, maybe they could force change in the front office.

Doug19 is offline   Reply With Quote
Old
12-15-2011, 06:15 PM
  #316
Fred Glover
Chief of Sinners
 
Fred Glover's Avatar
 
Join Date: Nov 2007
Location: Ohio
Country: Scotland
Posts: 4,000
vCash: 84
It is on the agenda

http://crms.franklincountyohio.gov/R...s/Briefing.pdf

Under #4

Fred Glover is offline   Reply With Quote
Old
12-15-2011, 06:51 PM
  #317
CBJBrassard16
Sergei BobTrollsky
 
CBJBrassard16's Avatar
 
Join Date: Jun 2009
Posts: 11,790
vCash: 500
This is the final vote right, and its expected to be approved, right?

CBJBrassard16 is offline   Reply With Quote
Old
12-15-2011, 07:20 PM
  #318
Fred Glover
Chief of Sinners
 
Fred Glover's Avatar
 
Join Date: Nov 2007
Location: Ohio
Country: Scotland
Posts: 4,000
vCash: 84
Quote:
Originally Posted by CBJBrassard16 View Post
This is the final vote right, and its expected to be approved, right?
You are correct. On both counts

Fred Glover is offline   Reply With Quote
Old
12-18-2011, 07:21 AM
  #319
Fred Glover
Chief of Sinners
 
Fred Glover's Avatar
 
Join Date: Nov 2007
Location: Ohio
Country: Scotland
Posts: 4,000
vCash: 84
http://www.bluejacketsxtra.com/conte...f-jackets.html

Fred Glover is offline   Reply With Quote
Old
12-20-2011, 12:00 PM
  #320
Fred Glover
Chief of Sinners
 
Fred Glover's Avatar
 
Join Date: Nov 2007
Location: Ohio
Country: Scotland
Posts: 4,000
vCash: 84
It's a done deal per Dispatch
Commissioners approved unanimously
Sorry for no link as I am away from computer

Fred Glover is offline   Reply With Quote
Old
12-20-2011, 12:27 PM
  #321
blahblah
Registered User
 
Join Date: Nov 2005
Posts: 16,000
vCash: 500
Oh dear.... Prepare for 26 more years of losing!

blahblah is offline   Reply With Quote
Old
12-20-2011, 01:45 PM
  #322
parressh
Registered User
 
Join Date: Apr 2009
Location: Denver, CO
Posts: 24
vCash: 500
Quote:
Originally Posted by blahblah View Post
Oh dear.... Prepare for 26 more years of losing!
Hey, that's way better than 26 years of NOT losing! Wait, did I say that correctly??!

parressh is offline   Reply With Quote
Old
12-20-2011, 02:24 PM
  #323
FANonymous
Registered User
 
FANonymous's Avatar
 
Join Date: Nov 2010
Posts: 4,911
vCash: 500
If anything, have faith in unpredictable randomness. If we spend 36 years flinging **** at a wall, SOMETHING's gotta stick, right?

FANonymous is offline   Reply With Quote
Old
12-20-2011, 05:13 PM
  #324
CapnCornelius
Registered User
 
CapnCornelius's Avatar
 
Join Date: Oct 2006
Posts: 10,923
vCash: 500
Great, now the owners have nothing to complain about. So, start fixing the mess on the ice.

They can begin tha process by given Mike Priest a new and more important role in the JMac Empire so that someone else can handle the role of team President.

CapnCornelius is offline   Reply With Quote
Old
12-20-2011, 06:09 PM
  #325
fox2usp
Inbred Cat
 
fox2usp's Avatar
 
Join Date: Jul 2008
Location: Pumpkinville, Ohio
Country: United States
Posts: 785
vCash: 500
Quote:
Originally Posted by CapnCornelius View Post
Great, now the owners have nothing to complain about. So, start fixing the mess on the ice.

They can begin tha process by given Mike Priest a new and more important role in the JMac Empire so that someone else can handle the role of team President.
I don't know where up the ladder Mike would go as the President of a company with 9 employees, which is JMAC's staff. It's an investment holdings management company. Mike will go nowhere until John P. decides it's time for someone new. I believe if that time ever comes, there will be a press release describing how Mike is desperately needed to concentrate on his duties with JMAC and needs to step down from the CBJ organization because he no longer has the time for both. I don't see that happening anytime soon.

fox2usp is offline   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 03:19 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.