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Off Season news & Notes
#61
The time has come for Karlsson to go, last year I would have had a hard time accepting that, but now I can say it with confidence that the team needs a change in leadership and to move on from all the drama surrounding him the past 2 seasons.
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#62
(2018-06-20, 05:18 PM)Ryu65 Wrote: The time has come for Karlsson to go, last year I would have had a hard time accepting that, but now I can say it with confidence that the team needs a change in leadership and to move on from all the drama surrounding him the past 2 seasons.

Who are you going to bring in to be the face of the franchise? Of the current roster maybe Stone? And that's a big maybe...
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#63
(2018-06-20, 05:18 PM)Ryu65 Wrote: The time has come for Karlsson to go, last year I would have had a hard time accepting that, but now I can say it with confidence that the team needs a change in leadership and to move on from all the drama surrounding him the past 2 seasons.

That's not the point though.

He will be the 3rd Captain to go under bad circumstances.

Personally I think his leadership has been fine and you are being a tad unfair: the drama has been hardly his creation.

This is because of an ongoing clown show in the front office and the boardroom.
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#64
AR's post is right, but when I say I'm fine with Karlsson leaving, it's so the dude can leave a toxic environment and lookout for his family. No player should have to deal with an organization as inept as ours when it comes to basic decency.
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#65
(2018-06-20, 04:44 PM)Heisenberg Wrote: Minto released a $200M IPO today and I believe sold 50% of Minto Place downtown recently. They are raising cash for something...hopefully to buy the Sens.

I also heard a rumour again, from 2 completely different sources tied to the construction industry in town now, that Devcore Group (the losing LeBreton bid) has been snatching up Melnyks debt in an attempt to force him to sell. Where there’s smoke there’s fire hopefully.  

I’m guessing the end is near for the Euge and his ownership of the team. I don’t believe Minto is part of the Devcore group, so seems their may be multiple suitors at play here, which is a good thing.

I am hopeful but I am also fearful. Devcore's backers wanted a team in QC. 

This comment haunts me.

Would Melnyk, who now resides in the Barbados, actually consider moving the Senators?

“If it becomes a disaster, yes. If you start not seeing crowds showing up, yes,” he said. “But, for now, we are on the cusp of doing OK.”

He may be creating a disaster. 

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#66
(2018-06-20, 09:20 PM)andreroy Wrote:
(2018-06-20, 05:18 PM)Ryu65 Wrote: The time has come for Karlsson to go, last year I would have had a hard time accepting that, but now I can say it with confidence that the team needs a change in leadership and to move on from all the drama surrounding him the past 2 seasons.

That's not the point though.

He will be the 3rd Captain to go under bad circumstances.

Personally I think his leadership has been fine and you are being a tad unfair: the drama has been hardly his creation.

This is because of an ongoing clown show in the front office and the boardroom.

I didn't say he created it, hence why I used the term "surrounding" him. Whether it was his own doing or not, the drama is there and it can't go on like this if the team is going to have future success.
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#67
(2018-06-20, 09:25 PM)andreroy Wrote:
(2018-06-20, 04:44 PM)Heisenberg Wrote: Minto released a $200M IPO today and I believe sold 50% of Minto Place downtown recently. They are raising cash for something...hopefully to buy the Sens.

I also heard a rumour again, from 2 completely different sources tied to the construction industry in town now, that Devcore Group (the losing LeBreton bid) has been snatching up Melnyks debt in an attempt to force him to sell. Where there’s smoke there’s fire hopefully.  

I’m guessing the end is near for the Euge and his ownership of the team. I don’t believe Minto is part of the Devcore group, so seems their may be multiple suitors at play here, which is a good thing.

I am hopeful but I am also fearful. Devcore's backers wanted a team in QC. 

This comment haunts me.

Would Melnyk, who now resides in the Barbados, actually consider moving the Senators?

“If it becomes a disaster, yes. If you start not seeing crowds showing up, yes,” he said. “But, for now, we are on the cusp of doing OK.”

He may be creating a disaster. 


They also want LeBreton.
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#68
andreroy Wrote:
Heisenberg Wrote:Minto released a $200M IPO today and I believe sold 50% of Minto Place downtown recently. They are raising cash for something...hopefully to buy the Sens.

I also heard a rumour again, from 2 completely different sources tied to the construction industry in town now, that Devcore Group (the losing LeBreton bid) has been snatching up Melnyks debt in an attempt to force him to sell. Where there’s smoke there’s fire hopefully.  

I’m guessing the end is near for the Euge and his ownership of the team. I don’t believe Minto is part of the Devcore group, so seems their may be multiple suitors at play here, which is a good thing.

I am hopeful but I am also fearful. Devcore's backers wanted a team in QC. 

This comment haunts me.

Would Melnyk, who now resides in the Barbados, actually consider moving the Senators?

“If it becomes a disaster, yes. If you start not seeing crowds showing up, yes,” he said. “But, for now, we are on the cusp of doing OK.”

He may be creating a disaster. 



The NHL doesn't want teams moving. They want to expand the league. Moving a team to Quebec means missing out on the $500M+ expansion fee.

I heard similar things about Melnyks debt, and from people in the same industry in Ottawa. You'll recall a few years ago there were stories about him needing private financiang when they lost the Scotiabank name on the building and Melnyk having to go to NYC to get it. The rumour I heard is that when he said no to the offer back in the early Lebreton days,m they started buying it up and essentially own what would work out to a third of the team already.
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#69
The NHL isn't going to expand into QC due to regional imbalance. If it happens, it's going have to move. The league will still get their cash with a relocation fee.

The saving grace on any move is that there's no proof that a team in QC generates more revenue for the league than one in Ottawa. Recall ridiculous contract they were able to squeeze out of TSN for media rights. QC won't come close to that.

But if it's a "disaster" to use Melnyk's term, then maybe the revenues may be better in Quebec.

And someone buying Melnyk's debt is somewhat positive, but still a wolf in sheep's clothing without the details. Where are these guys finding the money to do that? Doubtful it's their own cash. So the team is further leveraged and the cycle continues but under new ownership.
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#70
(2018-06-21, 07:13 AM)PaliSENS Wrote:
andreroy Wrote:
Heisenberg Wrote:Minto released a $200M IPO today and I believe sold 50% of Minto Place downtown recently. They are raising cash for something...hopefully to buy the Sens.

I also heard a rumour again, from 2 completely different sources tied to the construction industry in town now, that Devcore Group (the losing LeBreton bid) has been snatching up Melnyks debt in an attempt to force him to sell. Where there’s smoke there’s fire hopefully.  

I’m guessing the end is near for the Euge and his ownership of the team. I don’t believe Minto is part of the Devcore group, so seems their may be multiple suitors at play here, which is a good thing.

I am hopeful but I am also fearful. Devcore's backers wanted a team in QC. 

This comment haunts me.

Would Melnyk, who now resides in the Barbados, actually consider moving the Senators?

“If it becomes a disaster, yes. If you start not seeing crowds showing up, yes,” he said. “But, for now, we are on the cusp of doing OK.”

He may be creating a disaster. 



The NHL doesn't want teams moving. They want to expand the league. Moving a team to Quebec means missing out on the $500M+ expansion fee.

I heard similar things about Melnyks debt, and from people in the same industry in Ottawa. You'll recall a few years ago there were stories about him needing private financiang when they lost the Scotiabank name on the building and Melnyk having to go to NYC to get it. The rumour I heard is that when he said no to the offer back in the early Lebreton days,m they started buying it up and essentially own what would work out to a third of the team already.

I don’t think anybody except Melnyk has any claims to ownership of the Senators, however it is pretty public knowledge now that Melnyk had some issues with his debt to Scotiabank. These issues led to Melnyk tearing up the naming rights agreement that the bank was happy to get out of and shopping his debt to other lenders, most likely at a higher rate. Apparently Bettman had to get involved as Scotiabank was also a league sponsor that Melnyk was pissing off. These lenders were not buying a portion of the team, they were merely buying the debt. The big issue is if Melnyk can’t make payments on that debt and the lenders start calling on their loans.
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#71
Is it naive to hope that new management would handle issues like Hoffman-Karlsson with a tad bit more class? Or for the new owners to not always whine in public
If you need a sign to stay alive tonight, this is it!
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#72
(2018-06-21, 03:08 PM)bicboi Wrote: Is it naive to hope that new management would handle issues like Hoffman-Karlsson with a tad bit more class? Or for the new owners to not always whine in public

Given the circumstances, how could management handle it better? Was it actually true that management knew about the wife/GF spat for a while?

Say if management knew, what do you think they should have done?

There's a lot you can pin on management (Melnyck) but the wife/GF issues I don't think so.
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#73
(2018-06-21, 03:08 PM)Nuclearsun Wrote:
(2018-06-21, 07:13 AM)PaliSENS Wrote:
andreroy Wrote:
Heisenberg Wrote:Minto released a $200M IPO today and I believe sold 50% of Minto Place downtown recently. They are raising cash for something...hopefully to buy the Sens.

I also heard a rumour again, from 2 completely different sources tied to the construction industry in town now, that Devcore Group (the losing LeBreton bid) has been snatching up Melnyks debt in an attempt to force him to sell. Where there’s smoke there’s fire hopefully.  

I’m guessing the end is near for the Euge and his ownership of the team. I don’t believe Minto is part of the Devcore group, so seems their may be multiple suitors at play here, which is a good thing.

I am hopeful but I am also fearful. Devcore's backers wanted a team in QC. 

This comment haunts me.

Would Melnyk, who now resides in the Barbados, actually consider moving the Senators?

“If it becomes a disaster, yes. If you start not seeing crowds showing up, yes,” he said. “But, for now, we are on the cusp of doing OK.”

He may be creating a disaster. 



The NHL doesn't want teams moving. They want to expand the league. Moving a team to Quebec means missing out on the $500M+ expansion fee.

I heard similar things about Melnyks debt, and from people in the same industry in Ottawa. You'll recall a few years ago there were stories about him needing private financiang when they lost the Scotiabank name on the building and Melnyk having to go to NYC to get it. The rumour I heard is that when he said no to the offer back in the early Lebreton days,m they started buying it up and essentially own what would work out to a third of the team already.

I don’t think anybody except Melnyk has any claims to ownership of the Senators, however it is pretty public knowledge now that Melnyk had some issues with his debt to Scotiabank. These issues led to Melnyk tearing up the naming rights agreement that the bank was happy to get out of and shopping his debt to other lenders, most likely at a higher rate. Apparently Bettman had to get involved as Scotiabank was also a league sponsor that Melnyk was pissing off. These lenders were not buying a portion of the team, they were merely buying the debt. The big issue is if Melnyk can’t make payments on that debt and the lenders start calling on their loans.

In other words they are circling around waiting for Melnyk or the club to go bankrupt.
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#74
(2018-06-21, 06:33 PM)FashionPolice Wrote:
(2018-06-21, 03:08 PM)bicboi Wrote: Is it naive to hope that new management would handle issues like Hoffman-Karlsson with a tad bit more class? Or for the new owners to not always whine in public

Given the circumstances, how could management handle it better? Was it actually true that management knew about the wife/GF spat for a while?

Say if management knew, what do you think they should have done?

There's a lot you can pin on management (Melnyck) but the wife/GF issues I don't think so.

You are not wrong but I am not sure it's that simple. I think the players like the fans have lost trust in management and ownership and that may be a reason why it escalated the way it did.

"Dorion said he wasn’t aware of the Hoffman-Karlsson allegations until the end of the regular season in early April. He also said the club had an “open-door policy,” but neither player opted to speak to management about it."

https://www.google.ca/amp/ottawasun.com/...-track/amp
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#75
(2018-06-21, 07:03 PM)andreroy Wrote:
(2018-06-21, 03:08 PM)Nuclearsun Wrote:
(2018-06-21, 07:13 AM)PaliSENS Wrote:
andreroy Wrote:
Heisenberg Wrote:Minto released a $200M IPO today and I believe sold 50% of Minto Place downtown recently. They are raising cash for something...hopefully to buy the Sens.

I also heard a rumour again, from 2 completely different sources tied to the construction industry in town now, that Devcore Group (the losing LeBreton bid) has been snatching up Melnyks debt in an attempt to force him to sell. Where there’s smoke there’s fire hopefully.  

I’m guessing the end is near for the Euge and his ownership of the team. I don’t believe Minto is part of the Devcore group, so seems their may be multiple suitors at play here, which is a good thing.

I am hopeful but I am also fearful. Devcore's backers wanted a team in QC. 

This comment haunts me.

Would Melnyk, who now resides in the Barbados, actually consider moving the Senators?

“If it becomes a disaster, yes. If you start not seeing crowds showing up, yes,” he said. “But, for now, we are on the cusp of doing OK.”

He may be creating a disaster. 



The NHL doesn't want teams moving. They want to expand the league. Moving a team to Quebec means missing out on the $500M+ expansion fee.

I heard similar things about Melnyks debt, and from people in the same industry in Ottawa. You'll recall a few years ago there were stories about him needing private financiang when they lost the Scotiabank name on the building and Melnyk having to go to NYC to get it. The rumour I heard is that when he said no to the offer back in the early Lebreton days,m they started buying it up and essentially own what would work out to a third of the team already.

I don’t think anybody except Melnyk has any claims to ownership of the Senators, however it is pretty public knowledge now that Melnyk had some issues with his debt to Scotiabank. These issues led to Melnyk tearing up the naming rights agreement that the bank was happy to get out of and shopping his debt to other lenders, most likely at a higher rate. Apparently Bettman had to get involved as Scotiabank was also a league sponsor that Melnyk was pissing off. These lenders were not buying a portion of the team, they were merely buying the debt. The big issue is if Melnyk can’t make payments on that debt and the lenders start calling on their loans.

In other words they are circling around waiting for Melnyk or the club to go bankrupt.

The would depend on whether they are assured to get their money back. Most lenders would rather Melnyk make payments while getting gouged by interest as that is how they make their money.
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#76
(2018-06-21, 06:33 PM)FashionPolice Wrote:
(2018-06-21, 03:08 PM)bicboi Wrote: Is it naive to hope that new management would handle issues like Hoffman-Karlsson with a tad bit more class? Or for the new owners to not always whine in public

Given the circumstances, how could management handle it better? Was it actually true that management knew about the wife/GF spat for a while?

Say if management knew, what do you think they should have done?

There's a lot you can pin on management (Melnyck) but the wife/GF issues I don't think so.

If the intention is to keep Karlsson, get rid of Hoffman as soon as you findout about it rather than wait until you're forced to trade him after its become public knowledge and you deal him solely for damage control
If you need a sign to stay alive tonight, this is it!
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#77
(2018-06-21, 07:31 PM)Nuclearsun Wrote:
(2018-06-21, 07:03 PM)andreroy Wrote:
(2018-06-21, 03:08 PM)Nuclearsun Wrote:
(2018-06-21, 07:13 AM)PaliSENS Wrote:
andreroy Wrote:I am hopeful but I am also fearful. Devcore's backers wanted a team in QC. 

This comment haunts me.

Would Melnyk, who now resides in the Barbados, actually consider moving the Senators?

“If it becomes a disaster, yes. If you start not seeing crowds showing up, yes,” he said. “But, for now, we are on the cusp of doing OK.”

He may be creating a disaster. 



The NHL doesn't want teams moving. They want to expand the league. Moving a team to Quebec means missing out on the $500M+ expansion fee.

I heard similar things about Melnyks debt, and from people in the same industry in Ottawa. You'll recall a few years ago there were stories about him needing private financiang when they lost the Scotiabank name on the building and Melnyk having to go to NYC to get it. The rumour I heard is that when he said no to the offer back in the early Lebreton days,m they started buying it up and essentially own what would work out to a third of the team already.

I don’t think anybody except Melnyk has any claims to ownership of the Senators, however it is pretty public knowledge now that Melnyk had some issues with his debt to Scotiabank. These issues led to Melnyk tearing up the naming rights agreement that the bank was happy to get out of and shopping his debt to other lenders, most likely at a higher rate. Apparently Bettman had to get involved as Scotiabank was also a league sponsor that Melnyk was pissing off. These lenders were not buying a portion of the team, they were merely buying the debt. The big issue is if Melnyk can’t make payments on that debt and the lenders start calling on their loans.

In other words they are circling around waiting for Melnyk or the club to go bankrupt.

The would depend on whether they are assured to get their money back. Most lenders would rather Melnyk make payments while getting gouged by interest as that is how they make their money.

No shit.

But I am saying this in context of a group that is rumoured to want the team but can't make a deal with Melnyk

They are a development group, I doubt they are too interested in interest payments.

They'll extend him some credit. But once it goes bankrupt they will be first in line to buy an asset worth $400M or whatever and access to the sweetest land deal in the City's history at a low cash outlay as they are a creditor. Circling like vultures.
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#78
(2018-06-22, 11:44 AM)andreroy Wrote:
(2018-06-21, 07:31 PM)Nuclearsun Wrote:
(2018-06-21, 07:03 PM)andreroy Wrote:
(2018-06-21, 03:08 PM)Nuclearsun Wrote:
(2018-06-21, 07:13 AM)PaliSENS Wrote: The NHL doesn't want teams moving. They want to expand the league. Moving a team to Quebec means missing out on the $500M+ expansion fee.

I heard similar things about Melnyks debt, and from people in the same industry in Ottawa. You'll recall a few years ago there were stories about him needing private financiang when they lost the Scotiabank name on the building and Melnyk having to go to NYC to get it. The rumour I heard is that when he said no to the offer back in the early Lebreton days,m they started buying it up and essentially own what would work out to a third of the team already.

I don’t think anybody except Melnyk has any claims to ownership of the Senators, however it is pretty public knowledge now that Melnyk had some issues with his debt to Scotiabank. These issues led to Melnyk tearing up the naming rights agreement that the bank was happy to get out of and shopping his debt to other lenders, most likely at a higher rate. Apparently Bettman had to get involved as Scotiabank was also a league sponsor that Melnyk was pissing off. These lenders were not buying a portion of the team, they were merely buying the debt. The big issue is if Melnyk can’t make payments on that debt and the lenders start calling on their loans.

In other words they are circling around waiting for Melnyk or the club to go bankrupt.

The would depend on whether they are assured to get their money back. Most lenders would rather Melnyk make payments while getting gouged by interest as that is how they make their money.

No shit.

But I am saying this in context of a group that is rumoured to want the team but can't make a deal with Melnyk

They are a development group, I doubt they are too interested in interest payments.

They'll extend him some credit. But once it goes bankrupt they will be first in line to buy an asset worth $400M or whatever and access to the sweetest land deal in the City's history at a low cash outlay as they are a creditor. Circling like vultures.

That is under the assumption that Melnyk’s debt and the largest creditor is the group that wants to purchase the franchise, which I have never heard. The only news that has come out is that Melnyk was refinancing the debt and the Senators went on a roadshow to do presentations for all the major banks. 

With an NHL franchise a creditor does not get to step in and be first in line to purchase. All franchise owners have to be approved by the league. Anybody purchasing the Senators NHL franchise does not get the franchise along with the rights to develop Lebreton.
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#79
Take a step back: We are working under an assumption that this Devcore group is buying up his debt in the first place. We don't even know that.

If that is true, ask ourselves why would they want to do that? We can only speculate is that it means they could get a good price on the team, of course pending league approval. Banks aren't interested in owning them.
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#80
(2018-06-22, 01:50 PM)andreroy Wrote: Take a step back: We are working under an assumption that this Devcore group is buying up his debt in the first place. We don't even know that.

If that is true, ask ourselves why would they want to do that? We can only speculate is that it means they could get a good price on the team, of course pending league approval. Banks aren't interested in owning them.

I am not under the assumption that Devcore is buying up debt. I am under the assumption that he has refinanced his debt through banks and/or financial lenders.
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