Kukla's Korner Hockey
by Paul on 07/31/08 at 10:46 AM ET
from Brad Schrade of the Tennessean,
A copy of the confidential Aug. 31, 2007, purchase agreement between Leipold and head of the local majority ownership group, David Freeman, obtained by The Tennessean, shows exactly what Leipold had to do. The document was so confidential that Metro’s attorney, Larry Thrailkill, who negotiated the city’s lease changes with the new owners, never saw it.
The document shows how far Leipold may have had to go to get out of town. It suggests that the deal to sell the team could have fallen apart if Leipold failed to keep $30 million of his own money in the team for one year or failed to find an outside investor to put the money up. If those conditions weren’t met, Freeman and his group could have gotten their $10 million deposit back, according to the document.
Be the first to comment.
Add a Comment
Please limit embedded image or media size to 575 pixels wide.
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 email@example.com