On the Forecheck
Next entry: Thrashers fans not buying it this year
Previous entry: Check out the NHL Super Schedule
Preds Situation Not So Dire, Prof Says
by Forechecker on 10/06/08 at 06:10 PM ET
Comments (1)
While many outlets ran with the news last week that the majority ownership group behind the Nashville Predators was claiming severe damages due to the bankruptcy of Boots Del Biaggio, one local sports economist who is close to the situation offers some perspective.
From today’s Tennessean:
John Vrooman, a Vanderbilt University sports economist who reviewed the federal claim, took issue with some assertions in the filing. For example, he questions the claim that Del Biaggio’s problems have or will cost the team $5 million to $10 million a year in lost revenue in sponsorships, ticket sales or other revenue streams.
“It’s impossible for a franchise to be traded at 193 (million dollars) and the team be losing money,” Vrooman said. “That’s probably not happening.”
One has to remember that the filing last week was related to the Freeman group’s status as a creditor in the Del Biaggio bankruptcy; in other words, just like all the other creditors, they’re looking to position themselves for as much compensation as they can get. Naturally, under those circumstances, they were going to state things in the worst possible light.
Filed in: Nashville Predators | On the Forecheck | Permalink
Comments
Add a Comment
Please limit embedded image or media size to 575 pixels wide.
Add your own avatar by joining Kukla's Korner, or logging in and uploading one in your member control panel.
Captchas bug you? Join KK or log in and you won't have to bother.
Commenting is not available in this weblog entry.
Most Recent Blog Posts
A pivotal Predators prospect: Colin Wilson
Canadian hockey team on the road to Nashville
Two recreational hockey players die on same night, at same rink
Calgary investor Brett Wilson to buy stake in the Nashville Predators
Preds enjoy a command performance
To buy or not to buy? That is the question…
About Kukla’s Korner
Kukla’s Korner is updated around the clock with the work of our own talented bloggers, plus links to the best hockey writing around the internet. We strive to bring you all the breaking hockey news as it happens.
The home page allows you to see the latest postings from every blog on the site. Subscribe here. For general inquiries and more, please contact us anytime.
Get the top online sports betting bonuses available to sports betters!
When learning from experts it’s best to learn personally from them, or from their blog. We can provide that with poker lessons blog, your home to learn poker personally.
Do you get shocked from the luck in the game of poker? Stop getting shocked and start being a Poker Shoker.
As well as reading about hockey games, you can also find info about poker like which poker sites accept American Express or which are the best Canadian poker sites and also find the top rakeback sites at rakeback.net.
Kukla’s Korner is always a free service for readers, but it costs some money to maintain. If you’re ever in a position to donate a few dollars to help out, we’d be very appreciative.
The issue is also one that applies to far more teams than just the Predators. Many teams consistently imply they’re on the verge of bankruptcy, despite sold out seats and astonishing gross profits. But it seems like those values are camouflaged to make the asset profitable for them in other ways (like tax reasons, and so on).
That being said, the Predators problems are obviously fairly serious in some ways that other teams aren’t dealing with. And the endless perception of their troubles is probably one of their biggest issues of all. Being constantly portrayed as a sinking ship just isn’t good for any business.
Posted by Alanah McGinley from British Columbia on 10/06/08 at 06:54 PM ET