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Hurricanes announce new ownership partners

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Old
11-03-2011, 10:04 AM
  #1
EQV
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Hurricanes announce new ownership partners

FYI: http://hurricanes.nhl.com/club/news.htm?id=598708

To those who know more than I do about the NHL's revenue-sharing system, will this allow Rutherford to spend more money on signings?

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11-03-2011, 10:15 AM
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This is good news folks

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11-03-2011, 10:20 AM
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I suppose it's good new. Don't know how I feel about Rutherford being one of the investors though. Say he completely ****s the bed this year (Doesn't fire Maurice after a missed playoffs, etc), and he needs to get the boot. How much will his investment affect his chances of getting said boot?

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11-03-2011, 10:25 AM
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tarheelhockey
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I'm not closely familiar with all of these folks, but Capitol Broadcasting (an Jim Goodmon in particular) is a great connection to the local area. That's a lot of wealth, a lot of previous experience in sports operations, and a decent amount of security for the future of the franchise.

Most of the others sound like solid local connections to industry leaders. Their board meetings are going to be like a CEO Forum luncheon.

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11-03-2011, 10:43 AM
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Boom Boom Anton
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Quote:
Originally Posted by Anton Bomb View Post
I suppose it's good new. Don't know how I feel about Rutherford being one of the investors though. Say he completely ****s the bed this year (Doesn't fire Maurice after a missed playoffs, etc), and he needs to get the boot. How much will his investment affect his chances of getting said boot?
I don't think it's an issue, as I don't think that scenario will ever come up. PK is still in charge and I don't see him wanting to fire JR no matter how much the team ***** the bed. IMO, JR has a spot as the GM until he doesn't want to do it any longer.

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11-03-2011, 10:44 AM
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Rutherford was/is never getting fired, so that's irrelevant.

Id like to believe that this will allow them to spend a little more, but doubt it. Good news, though.

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11-03-2011, 10:50 AM
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tarheelhockey
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Id like to believe that this will allow them to spend a little more, but doubt it.
Not saying you're wrong, but what's your reason for doubt? There's a ton of money in that group and surely they have an expectation of funding a successful team.

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11-03-2011, 11:00 AM
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Originally Posted by The Great Anton View Post
Rutherford was/is never getting fired, so that's irrelevant.
Dale Tallon was never getting fired either, and you know what happened there. I'm not saying it's likely, but let's not act like it's out of the realm of possibility.

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11-03-2011, 11:01 AM
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Not saying you're wrong, but what's your reason for doubt? There's a ton of money in that group and surely they have an expectation of funding a successful team.
Yeah but I don't think they own much of the team...payroll may increase a bit but I don't think we'll be top in the league or anything close to that.

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11-03-2011, 11:03 AM
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Because they're still losing money and this just brings financial stability but no extra income. I see this as a way for PK to lower his losses, spreading them among the investors.

I will say that I am fairly ignorant when it comes to the financial side of the team though.

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11-03-2011, 11:06 AM
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Originally Posted by Anton Bomb View Post
Dale Tallon was never getting fired either, and you know what happened there. I'm not saying it's likely, but let's not act like it's out of the realm of possibility.
Tallon also ran the team into salary cap hell and IIRC wasn't BFFs with Wirtz/his successor like JR is with PK

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11-03-2011, 11:12 AM
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Originally Posted by The Great Anton View Post
Because they're still losing money and this just brings financial stability but no extra income. I see this as a way for PK to lower his losses, spreading them among the investors.

I will say that I am fairly ignorant when it comes to the financial side of the team though.
I thought it was claimed that PK made money or at least broke even somehow last season?

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11-03-2011, 11:17 AM
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Last season, yes, with the ASG boost. I think he's lost money every other non playoff year

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11-03-2011, 11:20 AM
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Yeah but I don't think they own much of the team...
Isn't it Thewes' 49%? Or is this only a fraction of that fraction? I know there was some talk about a 20-person group at one point, but I have a hard time imagining more people waiting in the wings. This was a pretty big announcement in its own right.

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payroll may increase a bit but I don't think we'll be top in the league or anything close to that.
I don't think so either... I'd be happy with just being in the middle of the pack. That would put us in pretty good company with teams like Detroit, Chicago and New Jersey. We could make significant roster upgrades with another $5m or so.

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Because they're still losing money and this just brings financial stability but no extra income. I see this as a way for PK to lower his losses, spreading them among the investors.
You may be right about that, in which case I guess there's still some reason to celebrate. Just having stability is a good thing for the long term, as the team builds a generational fanbase and locks in corporate relationships. Several of the people in that group represent very significant corporate interests in NC.

I actually think Karmanos did a great job of drawing in people from all different angles, who have in common the ability to help the franchise other than cash payments. The community connections are really impressive, from the Checkers to the local media to charities to real estate to technology.

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11-03-2011, 11:44 AM
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Boom Boom Anton
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Dale Tallon was never getting fired either, and you know what happened there. I'm not saying it's likely, but let's not act like it's out of the realm of possibility.
It's not impossible, but highly improbable that PK would ever fire JR. Therefore, for me it isn't any worry about how his investment might impact a highly improbably scenario. And if after all these years, PK for some reason wants to fire JR, his minor investment in the team isn't going to get in the way. PK is still in charge.

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11-03-2011, 11:51 AM
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Originally Posted by tarheelhockey View Post
Isn't it Thewes' 49%? Or is this only a fraction of that fraction? I know there was some talk about a 20-person group at one point, but I have a hard time imagining more people waiting in the wings. This was a pretty big announcement in its own right.
What was stated in the N+O back in October when Kahn was announced:

Quote:
Karmanos said he now has sold $22 million in equity of the franchise to nine people, all from North Carolina, who could invest another $7 million or more. He said he would soon announce the names of some of the investors but said some would prefer "to stay in the background."
So I think this investment group accounts for about 10% (around $25 million of the $240M estimated value).

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11-03-2011, 12:15 PM
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Surely the termination scenario is written into JR's ownership papers. It's hard to envision that not being the case.

That said, maybe it's at least partially a good thing that JR doesn't have termination pressure hanging over his head. A lot of GMs make short-sighted, stupid moves because of pressure for immediate results. We may end up with the opposite problem here, but I think I'd rather have it that way TBH. I don't want to be a team that cycles through coaches and GMs like Toronto or Philly, with that endless frustration. I'd rather have a GM who knows he has a long window to build a team, and who can make personnel decisions based on 2015 just as much as 2011. There are still financial pressures pushing us toward instant gratification, but that's just something we have to live with... adding even more performance pressure to the GM position might make us as schizophrenic as the Panthers.

Now, there are a lot of folks out there who flat-out don't like JR as a manager and want to see him gone for strategic reasons. I guess you guys are SOL

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11-03-2011, 12:55 PM
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Dale Tallon was never getting fired either, and you know what happened there. I'm not saying it's likely, but let's not act like it's out of the realm of possibility.
its never been possible. ive always thought jr was financially involved in some way already. they are partners in this. he steps down when he wants to, when he holds himself responsible. pk and jr came to hartford presented as partners, not at all like pk and his employee.

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11-03-2011, 02:16 PM
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PK was just on 99 the fan. If you didnt buy season tickets..its your fault we dont have enough good players and cant spend money.

You pay up...then JR will give you playoff hockey.

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11-03-2011, 02:22 PM
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PK was just on 99 the fan. If you didnt buy season tickets..its your fault we dont have enough good players and cant spend money.

You pay up...then JR will give you playoff hockey.
our season ticket base does leave a lot to be desired, but the vicious cycle is if there was consistent playoff hockey there would be an increase in season ticket sales more than likely. surprised he came out and said it though, but i'm not terribly offended by it.

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11-03-2011, 02:31 PM
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PK was just on 99 the fan. If you didnt buy season tickets..its your fault we dont have enough good players and cant spend money.

You pay up...then JR will give you playoff hockey.
Did he confuse the Carolina fanbase with the Toronto one? It would explain all the recent ex-Toronto acquisitions, and it would explain that statement as well.

He seems to have forgotten that hockey's a fringe sport here. If you want to make an impact on the area, get people to spend money, etc., you need to put a winner on the ice. Consistently.

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11-03-2011, 02:35 PM
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our season ticket base does leave a lot to be desired, but the vicious cycle is if there was consistent playoff hockey there would be an increase in season ticket sales more than likely. surprised he came out and said it though, but i'm not terribly offended by it.
He blames the fanbase all the time. But this is the first one in a while. Im not terribly offended by it but it is pretty ballsy considering how many times we have been to the playoffs since 06.

he also used Winnipeg as a comparison who sold out 2 seasons worth of season tickets.....ya nevermind the context of that whole situation.

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11-03-2011, 02:44 PM
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Originally Posted by Antondynamic View Post
PK was just on 99 the fan. If you didnt buy season tickets..its your fault we dont have enough good players and cant spend money.

You pay up...then JR will give you playoff hockey.
pulled the same crap in hartford. inherited a bad team then called out the fans for not being there enough without improving them.

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11-03-2011, 02:47 PM
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What exactly did he say? If he said something along the lines of "we could spend more if we had more season ticket holders" there isn't anything wrong with that completely factual statement. If he said "if these hicks would show up to some games instead of watching NASCAR and marrying their cousins, I wouldn't lose my shirt every year", then perhaps there is an issue.

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11-03-2011, 02:52 PM
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Originally Posted by Antondynamic View Post
PK was just on 99 the fan. If you didnt buy season tickets..its your fault we dont have enough good players and cant spend money.

You pay up...then JR will give you playoff hockey.
that's funny... I'd love to buy season tix... too bad I live all the way up here..





Quote:
Originally Posted by Antondynamic View Post
He blames the fanbase all the time. But this is the first one in a while. Im not terribly offended by it but it is pretty ballsy considering how many times we have been to the playoffs since 06.

he also used Winnipeg as a comparison who sold out 2 seasons worth of season tickets.....ya nevermind the context of that whole situation.
Comparing Winnipeg, a city that got their team back to Carolina, a team that struggles to make the playoffs is idiotic

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pulled the same crap in hartford. inherited a bad team then called out the fans for not being there enough without improving them.

yup... PK is not a very well liked man up here and for good reason... I don't take it out on the Canes, still root for them but maybe if PK spent money this team would be in the playoffs more...cheap ass.

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