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Falcone --too sleazy for NHL/Minnesota, or not?

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06-28-2012, 12:44 AM
  #1
geowild
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Falcone --too sleazy for NHL/Minnesota, or not?

http://www.forbes.com/sites/danielfi...r-but-illegal/

Quote:
The Securities and Exchange Commission today charged hedge-fund manager Phil Falcone with a profusion of misdeeds, from lending himself $113 million to pay his taxes to engineering a nearly perfect short squeeze in the bonds of a troubled Canadian plumbing-supply business
To me, the key point here is they are still civil charges, not criminal charges. I don't see this resulting in anyone making him cough up his minority ownership in the Wild, should he lose.

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06-28-2012, 12:45 AM
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rynryn
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was this actually from today? Wasn't his name brought up in something else last year?

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06-28-2012, 12:46 AM
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TaLoN
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Meh... he's a minority owner anyway. No affect on the Wild at all IMO.

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06-28-2012, 01:10 AM
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Victorious Secret
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This belongs in the Business of Hockey forum.

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06-28-2012, 02:10 AM
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Hard as hell to prove those charges IMO, slap on the wrist and nothing else will come of this.

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06-28-2012, 02:18 AM
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geowild
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Quote:
Originally Posted by rynryn View Post
was this actually from today? Wasn't his name brought up in something else last year?
Yes, it's from today. I think the same underlying facts where brought to light last year. . .but the legal system grinds along slowly. The SEC filing civil suit is new, today.

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06-28-2012, 02:24 AM
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Quote:
Originally Posted by Victorious Secret View Post
This belongs in the Business of Hockey forum.
Disagree, this is not even hockey business.

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06-28-2012, 02:33 AM
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Originally Posted by TaLoN View Post
Disagree, this is not even hockey business.
How is it not?

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06-28-2012, 02:54 AM
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Originally Posted by Victorious Secret View Post
How is it not?
Because this issue has nothing to do with the Wild other than the fact that it's happening to a Wild minority owner.

What business of hockey does this actually involve? This is an individual businessman's issue, not a hockey franchise issue.

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06-28-2012, 07:31 AM
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It may, and probably will, have no impact on the Wild at all . . . but that's not a certainty. Falcone is not just a bit investor; according to the Star Tribune he owns 30% of the team, and I saw that share stated as 40% elsewhere. And he is potentially in big-time financial trouble and might need to liquidate everything he's got; apart from his SEC troubles, the investors in his hedge funds are going to bring all sorts of lawsuits against him. I would guess Leipold or someone else would be able to buy him out and things will continue as they are, but at very least they would much rather not be dealing with it.

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06-28-2012, 10:23 AM
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rynryn
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yeah, don't underestimate the potential consequences. if Falcone is compelled to sell off his shares quickly Leipold will probably want control and have to buy them to pick Falcone's replacement investor(s). That might affect how he feels about spending money. Leipold, I mean.

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06-28-2012, 10:35 AM
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“@Russostrib: @CAREYMPLSST he owns 30% now and they're about to offer 2 free agents mammoth contracts, so obviously it's not stopping that”

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06-28-2012, 12:16 PM
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While exact percentages aren't public, according to Leipold at the time of his purchase of the Minnesota Wild, he owns 51% of the team. That means, regardless of what happens with minority investors, he is the controlling investor, and can generally do whatever he wants. A possible sale of any minority investor's stake can be a meaningful business situation for him, but I can't see any way effects could trickle down to the actual team.

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06-28-2012, 12:24 PM
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Wonder if that means they're going to start shedding salary soon?

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06-28-2012, 12:25 PM
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Originally Posted by Jarick View Post
Wonder if that means they're going to start shedding salary soon?
That would be kinda shocking consideing how they've been looking like they were gonna spend to the cap.

If they start shedding salary to try to get to the floor, they are gonna lose a LOT of ticketholders.

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06-28-2012, 12:32 PM
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It's time to start dropping ticket and concession prices.

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06-28-2012, 12:37 PM
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Quote:
Originally Posted by squidz View Post
While exact percentages aren't public, according to Leipold at the time of his purchase of the Minnesota Wild, he owns 51% of the team. That means, regardless of what happens with minority investors, he is the controlling investor, and can generally do whatever he wants. A possible sale of any minority investor's stake can be a meaningful business situation for him, but I can't see any way effects could trickle down to the actual team.
I completely agree that it most likely won't affect the team. Guys rich enough to own NHL teams usually are smart enough to have some sort of plan in place for things like this, and to have good lawyers, so I wouldn't anticipate any impact at all; I just don't think you can rule out the possibility that this might cause them some headaches.

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06-28-2012, 12:41 PM
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Quote:
Originally Posted by Jarick View Post
It's time to start dropping ticket and concession prices.
Ha ha yeah... no chance in hell honestly.

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06-28-2012, 12:49 PM
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Quote:
Originally Posted by Jarick View Post
It's time to start dropping ticket and concession prices.
If the concessions agreement at Xcel is anything like pretty much every other NHL arena in North America, concession prices are outside of team control.

As for thoughts on the prices, I think we already established that I'm in the minority that think prices are either right or on the low end.

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06-28-2012, 12:52 PM
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Season ticket base is dropping and attendance is dropping and has been for three years now.

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06-28-2012, 12:59 PM
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Season ticket base is dropping and attendance is dropping and has been for three years now.
Indeed, as a result of play on the ice combined with a weak economy and high unemployment rates in the face of rising energy costs. That doesn't justify dropping 16000 tickets by $10 for 41 games to try sell an extra 2000 tickets at $70 for 41 games.

But that's not even what I meant by "just right or cheap." I mean that they are priced below the expected price for such an event.

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06-28-2012, 01:04 PM
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They can do whatever they want, I'm not buying tickets or spending money at the concession next year. Seems I'm not the only one.

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06-28-2012, 01:06 PM
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Originally Posted by Jarick View Post
They can do whatever they want, I'm not buying tickets or spending money at the concession next year. Seems I'm not the only one.
And that has no bearing on the question of whether tickets or concessions are priced correctly. It just means you're in a lower portion of the demand curve. Your individual price concerns have no meaningful bearing on equilibrium.

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06-28-2012, 01:10 PM
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The demand curve as a whole is shifting left. The question is whether the price floor is above or at market equilibrium.

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06-28-2012, 01:10 PM
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Quote:
Originally Posted by Jarick View Post
They can do whatever they want, I'm not buying tickets or spending money at the concession next year. Seems I'm not the only one.
That whole "vote with your dollar" thing is all well and good, but the team has more buzz around it now than it has since Gaborik was here. They're not going to change ANYTHING good, bad or otherwise until they see if they can ride the new kids to increased ticket sales.

And not to be a jerk about it, but your righteous indignation at the prices of the events means absolutely nothing to anyone but you...

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