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Category: Nashville-Predators

Report- Del Biaggio Owes Leipold $20M

from Brad Schrade of the Tennessean,

The Nashville Predators’ second-largest investor, William J. “Boots” Del Biaggio III, owes nearly $35 million more than he has, and he lists his $23.5 million stake in the team as his most valuable asset, according to court documents filed this week.

Del Biaggio lists $88.43 million due to creditors, including $10 million to former Preds owner Craig Leipold, according to a summary of his assets and liabilities filed in federal bankruptcy court in Northern California on Monday. He lists $53.9 million in assets, including $12.1 million in real property, all in California.

The $10 million he owes Leipold is apparently separate from a $10 million loan Leipold made to the team as part of its sale last year. Leipold sold the team in December and then bought the Minnesota Wild franchise.

continued

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
 

Weber Close To Signing Deal With Preds (Updated)

from John Glennon of the Tennessean,

The Predators are very close to reaching an agreement with defenseman Shea Weber, and could finalize the deal as early as today, according to Weber’s agent, Don Meehan.

Weber is expected to sign a multi-year deal with the team.

“All I know is that things are going good so far,’’ Weber said of the negotiations. “Hopefully we’ll get something done soon.’’

more

Updated 1:18pm ET: From TSN:

Defenceman Shea Weber has signed a three-year, $13,5 million contract with the Nashville Predators, avoiding restricted free agency.

 

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
  Tags: shea+weber

No Red Flags

from Brad Schrade of the Tennessean,

The Predators’ situation is the first of its kind involving a minority ownership. In the other cases, bankruptcy trustees worked with the NHL to find a replacement owner, relying on the league to help with leads to potential buyers.

It’s unclear whether Del Biaggio underwent the tough scrutiny of a background check in 2002 when he bought a small stake in the San Jose Sharks. The league confirmed that he underwent a background check for the Predators purchase.

“You do all the things you can do to verify certain things,” said Bill Daly, NHL deputy commissioner. “You go through the checks. The bottom line is, no red flags came up.”

much more...

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
 

Preds Sign Ellis, Trade Mason

from the Nashville Predators,

The Predators significantly clarified their goaltending situation today, announcing they have reached an agreement in principle with Dan Ellis on a multi-year deal and then trading Chris Mason to the St. Louis Blues in exchange for a fourth round pick in this year’s draft. The trade gives the Predators nine selections in this year’s Entry Draft, including multiple picks in first, second, and fourth rounds and single picks in the third, fifth, and sixth rounds.

continued

Filed in: NHL Teams, Nashville Predators, St. Louis Blues, | KK Hockey | Permalink
  Tags: chris+mason, dan+ellis

Poile Thinking One Year At A Time

from John Glennon of the Tennessean,

Predators General Manager David Poile said he’s decided to renew his contract on an annual basis instead of signing any more multiyear deals, but it doesn’t mean he has other jobs in mind….

Poile said he doesn’t envision leaving the Predators but wants flexibility in case of unforeseen circumstances such as a change of ownership.

“I at least wouldn’t be tied into someone long term,’’ he said. “I’d rather be happy and motivated than in a situation where I wasn’t happy, or people were not happy with me.’‘

read on

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
  Tags: david+poile

Hurricanes Acquire Hordichuk From Predators

From TSN,

The first of many trades expected during the NHL draft has taken place. The Carolina Hurricanes have acquired forward Darcy Hordichuk from the Nashville Predators in exchange for a fifth-round pick in 2009.

However, Hordichuk is due to become an unrestricted free agent on July 1st and if he does not sign with the Hurricanes, Carolina will receive a fifth-round draft pick in 2010.

The Hurricanes have also signed blueliner Tim Gleason for 4 years at an average of 2.75 million per year.

continued…

Filed in: NHL Teams, Carolina Hurricanes, Nashville Predators, | KK Hockey | Permalink
  Tags: darcy+hordichuk, nhl+entry+draft, tim+gleason

Nashville Needs Help Up Front

from On the Forecheck,

While Poile’s patience has been a major asset to Nashville in building up this surfeit of defensive talent, the time has come to reap the benefit and deal from a position of strength. Letting opportunity pass will only turn this organizational depth into a bottleneck, and threaten the development of young prospects going forward. There are certainly worse problems an NHL general manager can have, but that doesn’t detract from the urgency of the situation.

more with a wish list…

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
 

Suter Re-signs With Preds

from John Glennon of the Tennessean,

The Predators and defenseman Ryan Suter have agreed to terms on a four-year, $14 million contract, which will be announced later this afternoon.

continued

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
  Tags: ryan+suter

History Repeats

from Pat Hickey of the Montreal Gazette,

“That men do not learn very much from the lessons of history is the most important of all the lessons of history.”

Once upon a time, John Spano owned the New York Islanders.

Until the cheque bounced….

Eleven years after Spano was exposed as a fraud, the folks in the NHL front office are maintaining a low profile as they deal with another business deal that has gone terribly wrong.

William (Boots) Del Biaggio III was one of the investors who helped keep the Nashville Predators in Music City and out of the predatory hands of Jim Balsillie. When the local investors came up short in their bid to buy the team from Craig Leipold, Del Biaggio came to their rescue and paid $60 million for a 27-per-cent stake in the team.

It seemed like a strange marriage.

read on

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
 

Boots’ Legal Problems Linked to Predators Deal

From Brad Shrade at The Tennessean,

Predators investor William J. “Boots” Del Biaggio III’s trail of financial and legal troubles drew closer to Nashville Wednesday, as the FBI subpoenaed documents from Metro concerning the California businessman and his role in the purchase of Nashville’s pro hockey team last year.

It also has become more clear in recent days that as much as $27 million in debt Del Biaggio incurred on his way to bankruptcy may have direct ties to the Predators deal.

An arena management company, AEG Facilities Inc., is the latest to accuse the high-flying 40-year-old San Jose venture capitalist of fraud, according to a lawsuit filed Friday. The company is a division of entertainment giant AEG, which manages sports arenas and owns the NHL’s Los Angeles Kings, and says it loaned Del Biaggio $7 million to help him buy a share in the Nashville Predators.

continued…

Filed in: NHL Teams, Nashville Predators, | KK Hockey | Permalink
  Tags: william+j+del+biaggio

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About Kukla's Korner Hockey

Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com

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