Predators co-owner under federal investigation

The business dealings of San Jose, Calif. Investor and Nashville Predators co-owner, William "Boots" Del Biaggio III are being examined by federal investigators, news reports out of Northern California revealed Friday.

Del Biaggio, 40, who has not commented, joined the Predators ownership group last year after serving as a minority owner for the San Jose Sharks and working to land an NHL franchise in Kansas City.

It was reported that he resigned “for personal reasons” earlier this week from Sand Hill Capital, a San Jose firm he co-founded in 1997.

Predators’ officials issued a statement on Friday saying the investigation is of no immediate concern, saying the franchise is focused on the upcoming NHL Entry Draft.

“We understand Boots Del Biaggio has resigned from Sand Hill Capital for personal reasons. Until he comments further, there is nothing for us to add or comment on. We will not comment on or address speculative or hypothetical questions,” the statement reads. “His departure from Sand Hill Capital has no impact on the Predators organizational operations as we are focused on ticket sales, building long-term business partnerships in Middle Tennessee and improving our team for the 2008-09 season, beginning with the 2008 NHL Entry Draft just three weeks away.”

Del Biaggio’s inclusion in David Freeman’s ownership group was seen by many in Nashville as crucial to the stability of the franchise because of his deep pockets and his experience with the NHL.

— Staff reports