Kukla's Korner Hockey
Entries with the tag: William+Del+Biaggio+III
Boots Faces More Legal Problems
by Alanah McGinley on 06/03/08 at 09:19 PM ET
Comments (0)
From Allan Maki at the Globe & Mail,
The latest development is a second lawsuit filed against [Boots] Del Biaggio. It alleges further acts of fraud to secure a $4-million loan. The suit has been launched by the Heritage Bank, which was founded by Del Biaggio’s father.
Both suits were filed after Del Biaggio, 40, said he was unable to repay the loans. Since then, the businessman has dropped out of sight and cannot be reached by telephone. [...]
Del Biaggio’s plight has caught the NHL’s attention, even though league officials have declined any direct comment. One NHL club official wondered what effect Del Biaggio’s difficulties will have on the Predators: Did Del Biaggio make good on his roughly $60-million investment in the team and will his legal woes have any bearing on the Predators’ long-term credibility as they try to gain sponsors and sell season tickets?
The Predators have insisted Del Biaggio’s problems have no bearing on the club. However, should Del Biaggio declare bankruptcy, his personal finances would become a matter of record and include his dealings with the Predators.
Update 10:00am ET: John Glennon at the Tennessean with the fallout in Nashville,
Targeted by three multi-million dollar lawsuits over the past few days, Predators minority owner William “Boots” Del Biaggio III may soon see his role with the hockey club coming to an end as well.
Sources familiar with the team and the National Hockey League said that all interested parties are helping Del Biaggio divest himself of any interest in the club.
Filed in: NHL Teams, Nashville Predators | KK Hockey | Permalink
Tags: William+Del+Biaggio+III,
