Kukla's Korner

Kukla's Korner Hockey

Financial Issues In Nashville

from David Shoalts of the Globe and Mail,

David Freeman, the chairman and governor of the Nashville Predators, has a $3.35-million (all currency U.S.) tax lien on his house and admits to cash-flow problems but both he and the NHL claim there are no concerns about the financial health of his hockey team.

However, since the Predators owners have to maintain a guarantee of up to $50-million with the city of Nashville that is based on their net worth along with other obligations, the lien raises a number of red flags.

There is also the security that has to be maintained with the team’s major lender, CIT Group, which is owed at least $85-million. CIT is in the middle of bankruptcy reorganization, which further complicates matters. Another problem is a drop in attendance this season, which could lower the amount the Predators earn from the NHL’s revenue-sharing plan.

continued

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

Comments

Be the first to comment.

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.

Smileys

Notify me of follow-up comments?

Feed

Most Recent Blog Posts

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

 

image

image

image