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Wang in preliminary talks to sell team!

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Old
02-19-2013, 03:51 PM
  #201
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Quote:
Originally Posted by OlTimeHockey View Post
And said lease begins on what date? Legally, a non commenced lease can be nullified.

It won't be, but this is a hypothetical. Legally speaking, I am pretty certain the Brooklyn people can seek damages for breaking the lease before it begins if they can prove detriment.

Wang will rent space for 25 years there or until the team folds and we will hear how great the new income is and never spend. Then we'll start hearing how we don't have money renting space in the new arena and we won't compete then, either. Count on the first season at Brooklyn featuring some outlandish spending on talent (the wrong guys} as a show that the 2001 Wang is alive and well.

And then wait for the cheap SOB to prove he's not intent on ever winning as the 2015 version is dismantled after an AHL coach from New England can't get it to work.
There's almost less chance of Wang owning this team in Brooklyn than there is of the team breaking the lease.

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Originally Posted by Isles Fan View Post
Yes ironclad for the current ownership.

Think of it this way. You bought a car from your buddy who had an ironclad lease at a garage to park it. That garage is not a garage you wish to use. The lease was signed between the garage and the previous owner of the car, not between the garage and the car itself.

You buy it, you are free to move the car to any garage you wish.

The ironclad part, which in itself is laughable, only pertains the the ownership who signed it, not the commidity associated with it.

I negotiate multi millon dollar contracts for a living. It is very rare for an agreement not have an out for change in ownership of said commidity.
You cant even spell "commodity" correctly and I'm supposed to believe you're some big time deal maker?

I have a law degree, and work in contract law. The situation you're giving above is in no way near analogous to the Islanders or any other sports team that's a tenant in an arena. Your car is an asset that you as an individual put under contract to be in a garage. The Islanders are a living, breathing corporate entity that is under contract, not Charles Wang personally.

If what you're saying was the case, and the arena leases weren't transferable with changes in ownership, every time a team got a new owner they'd be an automatic threat to move. Hell, Wang wouldn't have been tied to the Coliseum for the last decade if that was the case. We could start playing in Brooklyn tomorrow with a new owner if you what you're saying was true.

Fact of the matter is, the legal entity known as the Islanders, not Charles Wang, is tied to that arena lease, regardless of who owns the entity because the lease is transferable with the entity. So unless the team were to enact one of the out clauses in the lease (i.e. a buyout, arena being unfit to use, etc.) they aren't going anywhere. End of discussion.


Last edited by IceAce: 02-19-2013 at 04:13 PM.
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02-19-2013, 03:52 PM
  #202
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Also let's not forget Bettman and the rest of the NHL owners, wouldn't they have a say in any movement ?

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02-19-2013, 04:01 PM
  #203
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Originally Posted by IceAce View Post
There's almost less chance of Wang owning this team in Brooklyn than there is of the team breaking the lease.



You cant even spell "commodity" correctly and I'm supposed to believe you're some big time deal maker?

I have a law degree, and work in contract law. The situation you're giving above is in no way near analogous to the Islanders or any other sports team that's a tenant in an arena. If that was the case, and the arena leases weren't transferable with changes in ownership, every time a team got a new owner they'd be an automatic threat to move. Hell, Wang wouldnt have been tied to the Coliseum for the last decade if that was the case. We could start playing in Brooklyn tomorrow if you what you're saying was true.

Fact of the matter is, the legal entity known as the Islanders, not Charles Wang, is tied to that arena lease, regardless of who owns the entity because the lease is transferable. So unless the team were to enact one of the out clauses in the lease (i.e. a buyout) they aren't going anywhere. End of discussion.
That's what I thought, but I'm no lawyer. Why have leases if they can be broken every time a team gets sold ?

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02-19-2013, 04:02 PM
  #204
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Who are you a lawyer? My wife doesn't even ask me so much. You stated something and can't back it up. Hypocrite. You have me confused with someone else and just look foolish as everything you said was wrong. Went to games then, now and future. I'm not interested in an apology or your word because your word means nothing.

The mod asked us to stay on topic. Would you like to respond to my topic posts #152, 155 or would you just like to keep wasting time annoying us taking out your inconvenient commute to BK games and soon to be non loyalty here?

Like other posters have said, we don't get the whining and they are in Brooklyn now, get over it or go elsewhere.
Not a lawyer but I have stayed at the holiday in once or twice. Not in Brooklyn yet, but will be in 2015-16... once again you deflect and can't comment with any manners, thanks for not responding to my questions which were trying to clear up your prior comments to me... links are unavailable to me and I have always provided them when they are..I always try to be consistant and recall you making comments to the like, so don't need to prove to anyone for my own satisfaction but in fairness I would readily admit if you had provided answers confirming that I misinterpreted since time has passed. My memory is good and I don't have you confused with anyone else(there can't be two of you). You ask to go back on topic then insult me, how convenient. No worries, I don't intend to respond to you, I am sure your response will befit your character. It should be self evident to the "we" you refer that those people from an area who have supported a team for 40 years won't be pleased that their team is moving to a less convenient area that may represent something different to them and by the same token others happily see it as an arrival.. it is natural, not whining...what you refer to as whining is only responses to the antagonism created by those such as yourself (isnt that what you enjoy?). the move would not have bothered me quite so much if the discussions had been civil throughout. btw since I have promised not to respond to you, you spell it N-A-S-S-A-U there is no O or R or E.

on topic: yes I hope that Wang sells the team at this point, but will believe it when I see it. If he really wants $300M he may have to lower his asking price or hope another buyer surfaces. Had high hopes for him at one point, figuring ownership could never be worse than it had been since the cup days. I used to defend him since I know he has done a lot of charitable good works. However, this team needs someone whose priority is to put the best team on the ice.. all of the building blocks are there to be a competitive team by the time of the move, so hopefully they can get an owner who gives them that chance in the new building.

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Old
02-19-2013, 04:12 PM
  #205
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Originally Posted by scott99 View Post
That's what I thought, but I'm no lawyer. Why have leases if they can be broken every time a team gets sold ?
They can't be. The team is the legal party to the lease contract not the owner, as an individual. Every team that's relocated in the last 20+ years either moved at the end of a lease, or the ownership enacted a buy out clause. Or in a rare case like the Thrashers, the same ownership group who owned the arena owned the team so there was no lease, and they just sold off the team as an asset.

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02-19-2013, 04:32 PM
  #206
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Originally Posted by 19 in a row View Post
Not a lawyer but I have stayed at the holiday in once or twice. Not in Brooklyn yet, but will be in 2015-16... once again you deflect and can't comment with any manners, thanks for not responding to my questions which were trying to clear up your prior comments to me... links are unavailable to me and I have always provided them when they are..I always try to be consistant and recall you making comments to the like, so don't need to prove to anyone for my own satisfaction but in fairness I would readily admit if you had provided answers confirming that I misinterpreted since time has passed. My memory is good and I don't have you confused with anyone else(there can't be two of you). You ask to go back on topic then insult me, how convenient. No worries, I don't intend to respond to you, I am sure your response will befit your character. It should be self evident to the "we" you refer that those people from an area who have supported a team for 40 years won't be pleased that their team is moving to a less convenient area that may represent something different to them and by the same token others happily see it as an arrival.. it is natural, not whining...what you refer to as whining is only responses to the antagonism created by those such as yourself (isnt that what you enjoy?). the move would not have bothered me quite so much if the discussions had been civil throughout. btw since I have promised not to respond to you, you spell it N-A-S-S-A-U there is no O or R or E.

on topic: yes I hope that Wang sells the team at this point, but will believe it when I see it. If he really wants $300M he may have to lower his asking price or hope another buyer surfaces. Had high hopes for him at one point, figuring ownership could never be worse than it had been since the cup days. I used to defend him since I know he has done a lot of charitable good works. However, this team needs someone whose priority is to put the best team on the ice.. all of the building blocks are there to be a competitive team by the time of the move, so hopefully they can get an owner who gives them that chance in the new building.
Paragraphs are your friend. You didn't prove a thing. It's not natural to be whining about the move/commute since well before the move until now. You're a sore loser and lost your spoiled easy commute.
They're moving to Brooklyn soon so get over it or go somewhere else.

A new owner would be best.

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02-19-2013, 04:46 PM
  #207
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As a fellow poster mentioned before, the New York Islanders will not be relocated under Bettman's watch! How hard is this to understand? If it's with Wang or another owner, it doesn't matter.

If you want to be an owner in the NHL, you have to play by the rules of the NHL. Look at how meticulous and slowly the Winnipeg ownership group approached the NHL years before they could acquire the Trashers and move them. The NHL's owners are a billionaire and multimillionaire club with specific rules and a certain understanding of how the league works and operates.

If you want proof for my theory review the drama of Jim Ballsilie's futile attempts to buy an NHL club and move it to a location of his choosing. It doesn't work like this - and this was with a franchise like the Coyotes which are not in specifically great market and loosing money.

Despite the basement this franchise is in, Brooklyn will generate much more revenue, especially with the new VIP boxes. Furthermore, you can be rest assured that neither Bloomberg nor Ratner want to look like fools when they insured local politicians and voters new jobs and great entertainment revenue for investors of the Barclay center.

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02-19-2013, 04:52 PM
  #208
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Im no lawyer but a change in ownership wont affect the lease. The lease is for the Islanders as a business entity, not for Charles Wang's Islanders.

Jesus

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02-19-2013, 05:20 PM
  #209
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The Lease contract with the Barclays center must be Assignable. They are not moving.

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02-19-2013, 05:56 PM
  #210
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Wang worked his magic and served his purpose. Team staying local.

I know it wasn't his goal, but so the hell what.

Now it's time to get out.

Sell the team to someone who understands good business practices and that the on ice product will fuel other business opportunities and benefits. Not the other way around.

That's where Wang is a dumb****.

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02-19-2013, 06:39 PM
  #211
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Quote:
Originally Posted by 19 in a row View Post
Not a lawyer but I have stayed at the holiday in once or twice. Not in Brooklyn yet, but will be in 2015-16... once again you deflect and can't comment with any manners, thanks for not responding to my questions which were trying to clear up your prior comments to me... links are unavailable to me and I have always provided them when they are..I always try to be consistant and recall you making comments to the like, so don't need to prove to anyone for my own satisfaction but in fairness I would readily admit if you had provided answers confirming that I misinterpreted since time has passed. My memory is good and I don't have you confused with anyone else(there can't be two of you). You ask to go back on topic then insult me, how convenient. No worries, I don't intend to respond to you, I am sure your response will befit your character. It should be self evident to the "we" you refer that those people from an area who have supported a team for 40 years won't be pleased that their team is moving to a less convenient area that may represent something different to them and by the same token others happily see it as an arrival.. it is natural, not whining...what you refer to as whining is only responses to the antagonism created by those such as yourself (isnt that what you enjoy?). the move would not have bothered me quite so much if the discussions had been civil throughout. btw since I have promised not to respond to you, you spell it N-A-S-S-A-U there is no O or R or E.

on topic: yes I hope that Wang sells the team at this point, but will believe it when I see it. If he really wants $300M he may have to lower his asking price or hope another buyer surfaces. Had high hopes for him at one point, figuring ownership could never be worse than it had been since the cup days. I used to defend him since I know he has done a lot of charitable good works. However, this team needs someone whose priority is to put the best team on the ice.. all of the building blocks are there to be a competitive team by the time of the move, so hopefully they can get an owner who gives them that chance in the new building.

Edit: that was kinda mean haha. Let's all have a frosty chocolate milkshake and laugh it off!


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Old
02-19-2013, 09:04 PM
  #212
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Hmmm

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02-19-2013, 09:12 PM
  #213
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I really wish those who say they're going to stop following the team when they move to Brooklyn would just stop doing so now. I mean, this board would be a much better place for it, and those posters get to save themselves 2 more seasons of heartache.

No one here cares whether or not you're going to stop following the team when they move, so please stop reminding us. We're not going to beg you to stay a fan and have no sympathy for your supposed plight. Just stop following the team already and leave the rest of us in the misery we continue to bring on ourselves.

Dr. Seuss said it best:


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02-19-2013, 09:16 PM
  #214
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Man I hope. But dude that's grasping straws.

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02-20-2013, 08:07 AM
  #215
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Man I hope. But dude that's grasping straws.
Yeah, but if we're going to grasp at straws, this is a good straw:

"Roman Abramovich’s madness has a method. His method has a madness.

The Russian billionaire believes that anything is possible with vision, determination and resources. His tenure as Chelsea FC’s owner has largely proven this to be true.

Abramovich purchased the English soccer club in 2003, wiping out its debt and status as outsiders among the Premier League elite in one fell swoop. Chelsea became a league champion within two years of Abramovich’s arrival. It it took less than a decade to reach the pinnacle in Europe."

http://nesn.com/2012/11/roman-abramo...ults-dont-lie/

Hmmm indeed. Purchased a down and out franchise and turned it around. Oh, and his other favorite sport is hockey. He recently GAVE a $70 million arena to a Russian hockey team that he supports.

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02-20-2013, 09:18 AM
  #216
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and what? he's going to buy the Islanders and play in Prokorhov's arena? Highly unlikely.

There's a million and one reasons he could be in NY right now, and buying the Islanders is likely reason 1,000,0002.

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02-20-2013, 11:47 AM
  #217
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and what? he's going to buy the Islanders and play in Prokorhov's arena? Highly unlikely.

There's a million and one reasons he could be in NY right now, and buying the Islanders is likely reason 1,000,0002.
Sure it's a longshot - probably nothing. But hopefully somebody's going to buy the Isles from Wang at some point, and this guy seems like he would be a great owner.

And I'm not sure that Prokorhov's involvement with the Nets and the arena would be a deal breaker. Heck, maybe he'd like to compete with Prokorhov's Nets.

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02-20-2013, 12:01 PM
  #218
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Yeah, but if we're going to grasp at straws, this is a good straw:

"Roman Abramovich’s madness has a method. His method has a madness.

The Russian billionaire believes that anything is possible with vision, determination and resources. His tenure as Chelsea FC’s owner has largely proven this to be true.

Abramovich purchased the English soccer club in 2003, wiping out its debt and status as outsiders among the Premier League elite in one fell swoop. Chelsea became a league champion within two years of Abramovich’s arrival. It it took less than a decade to reach the pinnacle in Europe."

http://nesn.com/2012/11/roman-abramo...ults-dont-lie/

Hmmm indeed. Purchased a down and out franchise and turned it around. Oh, and his other favorite sport is hockey. He recently GAVE a $70 million arena to a Russian hockey team that he supports.
Abramovich is no angel and he basically bought Chelsea for fun. When he ultimately decides that it is no longer fun Chelsea will essentially be bankrupt and left with enormous contracts impossible to get rid of.

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02-20-2013, 12:02 PM
  #219
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So every time a rich dude visits New York City we are going to speculate he's going to buy the team? C'mon guys

I'd love for him to buy the team, hell if anyone bought the team I'd be happy but it's pretty messed up that Charles Wang's lunacy has driven us to stretch this far.

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02-20-2013, 12:37 PM
  #220
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Islanders As The Phoenix Coyotes (Run By The NHL)

Just a thought; if the Coyotes had been purchased by now, do you think the NHL would approach Wang to intervene and handle them for a short period a la how they've run the Yotes for the past couple of years? The problem with the Coyotes (prior to them being broke) was not enough buyers/potential new buyers wanted to relocate them. From what we've heard over the years, there is no shortage of potential buyers for the Islanders and the furthest a move seems at this point would be Brooklyn.

So all that being said, do you think if the Coyotes could be bought by an owner mayyyybe the NHL turns their attention to the Isles or there isn't enough sufficient ground for the NHL to take Wang's team away from him? (Technically he hasn't done anything wrong other than circumvent that cap [which other teams are doing as well])

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02-20-2013, 12:47 PM
  #221
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Originally Posted by doublechili View Post
Yeah, but if we're going to grasp at straws, this is a good straw:

"Roman Abramovich’s madness has a method. His method has a madness.

The Russian billionaire believes that anything is possible with vision, determination and resources. His tenure as Chelsea FC’s owner has largely proven this to be true.

Abramovich purchased the English soccer club in 2003, wiping out its debt and status as outsiders among the Premier League elite in one fell swoop. Chelsea became a league champion within two years of Abramovich’s arrival. It it took less than a decade to reach the pinnacle in Europe."

http://nesn.com/2012/11/roman-abramo...ults-dont-lie/

Hmmm indeed. Purchased a down and out franchise and turned it around. Oh, and his other favorite sport is hockey. He recently GAVE a $70 million arena to a Russian hockey team that he supports.
What's his relationship with Prokhov though? If he's moving the team anywhere it would be to BK - Prokhov's arena. If they don't get along I can't see him purchasing the Isles and keeping em in Nassau.

Quote:
Originally Posted by IslesNorway View Post
Abramovich is no angel and he basically bought Chelsea for fun. When he ultimately decides that it is no longer fun Chelsea will essentially be bankrupt and left with enormous contracts impossible to get rid of.
He's already started trimming some of the fat of Chelsea with some of their more expensive players leaving. They've been averaging small losses over the past few years but even when he sells it won't be more than $200 million. (I know, sounds a lot but in the Premier League, for a big club you absorb that hit).

Also for fun, this is Roman Abramovich's boat



So yeah, he has money for fun. Hope the Isles become his new hobby.

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02-20-2013, 12:49 PM
  #222
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No I don't think the NHL would ever take the team from Wang.. He's absorbing his debt, has a long term lease and is making his payroll really no grounds to take a team. I don't think they could just take a team away because they lose a lot and is unconventional in his practices, I gotta think there would be a big time law suit from Wang if they tried.

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02-20-2013, 12:52 PM
  #223
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Reading through Arthur Staples online chat from yesterday and he addressed the NY Post article:

Quote:
Staple: Frank -- I'm sure Wang would sell if someone wanted to throw him $3-400m. I can guarantee you no one is going to come near that, though -- they're losing money now, 2 years away from a move to a building they don't own. They appear on a network they don't own. Those are the big draws for potential team owners. As far as I've heard, the Post story isn't accurate.
http://www.newsday.com/sports/hockey...aple-1.3167071 (@ 1:40)

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02-20-2013, 01:48 PM
  #224
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And you are 99.9% right.

However anything can happen and with this team usually does, as we all know.

Didn't mean to bring it up as a point to argue, just crossed my mind thats all.
Honestly I don't care where they play so long as they win.
Okay, sure...

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02-20-2013, 02:07 PM
  #225
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No I don't think the NHL would ever take the team from Wang.. He's absorbing his debt, has a long term lease and is making his payroll really no grounds to take a team. I don't think they could just take a team away because they lose a lot and is unconventional in his practices, I gotta think there would be a big time law suit from Wang if they tried.
The other owners would never allow a precedent such as taking away a team to be set, no matter how bad the ownership of said team was/is.

What Bettman should be doing is tightening the rules regarding the cap and the floor so they can not be circumvented.

If as a fan or a group of fans you wish to lodge a complaint against Wang I think the cap/floor circumvention is the place to start.

But it will be a futile attempt as Wang is, in all likelihood, within the rules even while being outside the spirit of them.

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