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Sports Authority sets likely first Predators meeting
Friday, September 28, 2007 at 12:32pm
The Metro Sports Authority has scheduled a meeting of its Finance Committee for 9:30 a.m. next Wednesday. The committee will likely consider a set of proposed lease changes to the Sommet Center/Nashville Predators lease in advance of a positive vote by the full board that will need to take place by Friday, Oct. 5.
The Oct. 5 vote is necessary for the local buyers group that wants to purchase the Predators to meet an Oct. 31 deadline for securing their purchase from current Predators owner Craig Leipold.
The buyers group says that lease changes — currently being negotiated by the group’s lawyers and Metro attorneys, will be necessary for their purchase of the team to be financially viable. The changes would create a set of new financial incentives, although the buyers group says these will also limit Metro’s ultimate financial liability in regards to the downtown arena.
The lease changes, to be considered by the Metro Council for final approval before the end of October, must be approved by the Sports Authority and be submitted to the Council office by Oct. 5 to make the Oct. 16 Council meeting.
The buyers group must clinch the sale by Oct. 31 or current Predators owner Craig Leipold can walk away with the $10 million non-refundable deposit the investors group has given him and sell the Predators to another buyer.
The Finance Committee meeting will be held at the Sommet Center.
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Filed under: City News
If they can't afford the team with the 13 million they are getting from us already they have no business buying the team.Do you actually believe that they couldn't and put up 10 million on the "come". I don't, people that have that kind of money aren't that stupid, they just think we are.How do I get an appointment to that board? It has to be a cash cow giving taxpayer money away. Polygraphs should be mandated before and after every "deal" they come up with.
There is a nice article about the new Opera center and it is being built w/o tax money. Maybe the Sport Authority should show that to these Pred guys.
Whine, whine, whine. Get a life you two.
Love to see that id and Papa are the first two posts on any Preds story that is not in the sports section. Warms my heart.
I did thank Id and Plant for funding the meet and greet last night. I should add papa. Thanks buddy.
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While the Nashville Opera and other arts organizations are indisputably an important part of our city's quality of life, you cannot even pretend they have the same impact or value to our community as the Predators do. Not only does the team play a role in the overall attractiveness of the city, which helps promote our region on a national scale, they also have a major influence on the health of our downtown area (including an estimated $10 million per year spent in local restaurants, hotels and bars). And, if economic development isn't your bag, you can always consider the amount of time and money the Predators contribute to area charitable organizations. Oh, yeah, and Metro won't be asked to make up any ticket shortfall. http://www.tennessean.com/apps/pbcs.dll/article?AID=/20070920/NEWS0202/709200390
I just think that Opera and hockey are two comparable forms of entertainment. Neither are very popular with the public at large, but one seems to be able to make it w/o tax money, while the other limps along.
That's right, taxes should be spent on cigarettes and beer. Right, BigPapa?
You think the Opera and the NHL are comparable??? Are you kidding me? 82 games x 14,000 people = 1,148,000 people that attend hockey games. 16 games x 70,000 people = 1,120,000 people that attend football games.Hockey had a HIGHER average attendance than the NBA. It drew HIGHER ratings than the NBA in the playoffs (while receiving criticism because the ratings were lower than they used to be), and hockey also did it with LESS media attention that basketball receives. So you tell me, what sport is great and which isnt.Do you STILL want someone to believe that 4,000 people that go to Oprea's 2 or 3 times a month are the same as the 14,000 that show up to the games in Nashville 5-6 times a month?Didnt think so. Next time you would like to spew incorrect material, make sure you do your research first.
I love Opera and I love the Preds...you will not have access to an opera hall ( or what ever they call it) to use it for other projects. At least the arena can be used for rock concerts,basket ball, revivals, etc. With the rip off that the Oilers did, I mean the Titans, no one can use "their" field except maybe 4 times...and they get the vending earnings. Opera is only 6 a year and only one week. Broadway shows are more fun, but again only a limited use of the building.
How much did Craig Leopold lose so far with the Preds? What kind of a business does he own in Wisconsin to off set such a loss? I'd have to see that to believe it. And now this new bunch gives him 10 million non refundable, now wonder Nashville is no longer a banking and insurance center. No wonder Genesco is up for sale. And no wonder GM does not make Saturns at Spring Hill. And now this "Sports Authority" must approve the sale before Metro Council gets this? Hey, let me buy the Sounds!
Powers Management/Nashville Predators do not get $13mil from Metro. Metro has $5.6million budgeted for operating and management expenses of which less than $400k goes to Powers/Preds. The rest is the operating capital for utilities, personnel, maintenance, etc. The $13million figure quoted by local papers is a net expenditure for the arena that includes debt service dating back to FY94. The building was financed and built BEFORE there was a Nashville Predators. Somebody please explain how the Preds/Powers are responsible for debt incurred by Metro in the 1-3 years before the franchise existed.
By: GenSpecific on 9/28/07 That's right, taxes should be spent on cigarettes and beer. Right, BigPapa? ********************************Like all dems you act/sound like tax money is yours to do with it as you please. Government don't earn any money they extort it with their power.Whatever taxpayers spend their money is none of your business as long as its legal. When are you guys going to get that through your heads? ITS NOT YOUR MONEY TO GIVE AWAY.
idgaf sports are great for nashville. I believe tax payer's money should be used to keep the predators here, the titans here, build a sounds stadium, convention center... you get the idea. These venues will keep our city great.