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e67 News: Craig Leipold wants out of sale?
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spb06
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« on: June 22, 2007, 07:39:32 PM »
Craig Leipold wants out of sale?
Preds owner Craig Leipold advises Board of Govenors to not appove
the sale of the team.




Details are scarce at this point.




More to come.
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spb06
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« Reply #1 on: June 22, 2007, 08:10:03 PM »
COLUMBUS, Ohio (CP) - Jim Balsillie's attempt to buy the Nashville Predators has hit a snag.

Nashville owner Craig Leipold has sent a letter to the NHL advising it to stop considering Balsillie as a potential candidate for ownership until the sides can reach a final sale agreement.

"We did send the NHL a letter today requesting that it not do any further due diligence on Jim Balsillie's offer for the Nashville Predators until we reach a binding agreement," Leipold said in a statement on Friday. "If Jim is interested in reaching a binding agreement, we are prepared to move forward."

A league source also told CP that Leipold asked the NHL to discontinue Balsillie's application because he was caught off-guard by the Canadian billionaire's intention to relocate the franchise to Hamilton.

Leipold and Balsillie, the co-CEO of BlackBerry maker Research In Motion, agreed to a term sheet for the transfer of ownership of the team on May 24.

Balsillie had promised to pay between US$220 million and $238 million for the Predators and a deadline of June 30 was set to complete the sale. There is an option to extend that deadline.

Balsillie has already started a process to move the Predators to Hamilton should a potential out in the team's lease with the arena in Nashville be exercised after the sale's completion.

He accepted thousands of deposits on season tickets for an NHL team in Hamilton, a move some in the league's head office privately questioned.

At a board of governors meeting in New York earlier this week, NHL commissioner Gary Bettman called talk of moving the Predators "premature."

"Currently there isn't a fully completed application before the board of governors," Bettman said on Wednesday. "As a result, I think people are getting a little bit ahead of themselves on this entire issue.

"It isn't in any shape or form close to being ready for consideration as it relates to approval of an ownership change. I'm not exactly sure why people are focused on the Nashville Predators being anywhere other than in Nashville at this particular point in time."



here is the most recent from NHL.com
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007
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« Reply #2 on: June 23, 2007, 12:35:24 AM »
More to come? And you were ripping Strickland recently?  Cheesy
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spb06
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« Reply #3 on: June 23, 2007, 08:04:33 PM »
here's the latest.

http://www.tsn.ca/nhl/news_story.asp?ID=211679
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Repeal
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« Reply #4 on: June 25, 2007, 06:47:25 AM »
I have a hard time believing that leipold wants out of this sale.  He is looking to make 40 million more than the next highest bidder offered and I have a hard time believing that he would toss 40 million out just because he doesn't like this guys business ethics, or because bettman asked him nicely.

More likely I imagine he is trying to nail Balsillie down to the agreed upon price for fear that he is just ballsy or silly enough to try to jew it down later on.  I think this is more of a strong arm tactic by Leipold to make sure he gets his price.

Not to mention Leipold is in the process of having his own little Bill Laurie fire sale, and Balsillie is obviously not above coming back now and saying "woah...you sold off xxx xxx and xxx the price just dropped".  By making a tough stand now he paints Balsy into a corner.
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« Reply #5 on: June 25, 2007, 07:04:35 AM »
Quote from: Repeal on June 25, 2007, 06:47:25 AM
I have a hard time believing that leipold wants out of this sale.  He is looking to make 40 million more than the next highest bidder offered and I have a hard time believing that he would toss 40 million out just because he doesn't like this guys business ethics, or because bettman asked him nicely.

More likely I imagine he is trying to nail Balsillie down to the agreed upon price for fear that he is just ballsy or silly enough to try to jew it down later on.  I think this is more of a strong arm tactic by Leipold to make sure he gets his price.

Not to mention Leipold is in the process of having his own little Bill Laurie fire sale, and Balsillie is obviously not above coming back now and saying "woah...you sold off xxx xxx and xxx the price just dropped".  By making a tough stand now he paints Balsy into a corner.

or perhaps he hadn't seriously considered moving the team until balsillie and his legal tema found the out for moving the team from nashville....  now that he knows he has an out, perhaps he is considering moving to KC to get the ridiculous arena deal that KC was offering the pens, and at the same time selling a partial share of the team at a now inflated rate.
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