Nationwide Arena

Columbus officials release arena lease proposal to help keep Blue Jackets in town

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With the Columbus Blue Jackets reporting record financial losses over the past few seasons, totaling over $80 million in the last six years and $25 million last year, they’re an organization that’s in desperate need of help to get out of their money woes. With so much money bleeding from the Blue Jackets, owner John P. McConnell has said that if things aren’t turned around that he’ll have to move the team.

While wins haven’t been easy to come by and they’ve made the playoffs just once in franchise history, there’s a plan on the table to try and ensure that the Blue Jackets can stay in Columbus.

This afternoon, a proposal was announced that would see Nationwide, the insurance company that owns the naming rights to the Blue Jackets arena, as well as Franklin County, Ohio and the City of Columbus would team up together along with revenues from a proposed casino to buy the arena.

Doug Caruso of The Columbus Dispatch outlines the plans to help keep the team in Columbus.

Franklin County and Columbus would pledge up to a third of the tax revenue they collect from the Hollywood Casino on the West Side through 2039 to finance the $42.5 million purchase of the arena from Nationwide Realty Investors and pay to operate it, said John Rosenberger, a lawyer hired by Columbus and the county in 2009 to negotiate an arena deal. The Franklin County Convention Facilities Authority would own the arena.

Under the agreement, Nationwide would invest $52 million in the Blue Jackets and would take a 30 percent ownership interest in the team. It would have naming rights to the arena for 10 years.

It’s no secret that money is tight in America and using public money to finance the purchase of an arena, even split up over many groups, raises a giant red flag. While the arena would then belong to the county, the fact that it’s money from the people and not a private firm or even the Blue Jackets owners, is the part that makes this deal seem very curious.

We’ve seen proposals using public money land with a thud in Glendale and on Long Island and those were deals that would’ve secured the location of the Coyotes in Arizona and the Islanders on Long Island for years to come. Those matters were shot down either by government watchdogs or via public vote.

In Columbus, this deal would need to be approved by a vote of the Columbus City Council and Franklin County commissioners to make it work. As for what the deal will do to slow down the losses, Caruso breaks down the numbers.

The deal is expected to save the team $9.5 million a year. The team would agree to remain in Columbus through at least 2039.

The $42 million purchase price for the arena is slightly lower than the $44 million value Nationwide placed on it during court proceedings to set the taxable value of the building in 2006, a case in which it was in the company’s interest to set the price as low as possible. The county auditor had valued the arena at $129.7 million. It cost $147.1 million to build in 1999, Nationwide said at the time.

The state of Ohio would help out with the purchase through a $10 million loan, half of which can be forgiven by the state.

The part that makes the use of public money more irksome is the fact that people in the area voted against using public money to build the arena in the first place. Using it now to make sure the lead tenant can stick around seems like an end-around way of getting what they wanted in the first place.

We’re all for doing the right thing to keep a team in place, but the use of taxpayer money is what will always make us feel awkward. If it’s money that had no other destination for usage that’s fine, but burning public bucks during tough financial times makes the situation feel nervous. The Blue Jackets are the only major professional team in Columbus and letting the arena go vacant would be a tough blow to the city and the community so this move could be viewed as one meant to keep the economy rolling until 2039, it just feels a little bit uncomfortable going all in on supporting it.

Update (5:37 p.m.): Blue Jackets team president Mike Priest issued a statement about the deal on the team’s website.

“We are appreciative of the comprehensive work and due diligence delivered in this report. Mr. Dorrian, Bill Jennison and John Rosenberger each understand the issues and this report offers a solution that will provide a long term sustainable business model for the organization. We are encouraged by the report’s findings.”

Keep your head up: Hurricanes reportedly hand Raffi Torres a PTO

VANCOUVER, CANADA - MAY 3:  Raffi Torres #13 of the San Jose Sharks celebrates after scoring the game-winning goal against the Vancouver Canucks for a 3-2 victory in overtime in Game Two of the Western Conference Quarterfinals of the 2013 NHL Stanley Cup Playoffs, May 03, 2013 at Rogers Arena in Vancouver, British Columbia, Canada.  (Photo by Rich Lam/Getty Images)
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From opting against fighting the NHL’s 41-game suspension to seeing his season derailed by knee issues, there was the feeling that the league had seen the last of controversial forward Raffi Torres.

Perhaps not.

The Carolina Hurricanes reportedly handed the 34-year-old a PTO, according to former Hurricanes defenseman Aaron Ward.

It’s something the Raleigh News & Observer’s Chip Alexander also mentioned on Monday.

With Bryan Bickell added to the mix during this off-season, the Hurricanes seem interesting in adding some beef. It’s unclear if Torres is really in the sort of condition to make a mark, but Carolina’s going to at least take a look at him.

Beware, pre-season opponents and training camp teammates.

Capitals bump Todd Reirden up to associate coach

PITTSBURGH, PA - MAY 10:  Assistant coach Todd Reirden of the Washington Capitals talks to the power play unit during a time-out against the Pittsburgh Penguins in Game Six of the Eastern Conference Second Round during the 2016 NHL Stanley Cup Playoffs at Consol Energy Center on May 10, 2016 in Pittsburgh, Pennsylvania.  (Photo by Justin K. Aller/Getty Images)
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The Washington Capitals announced that Todd Reirden (pictured) was promoted from assistant to associate coach on Monday.

What does that mean, exactly? Well, most directly, the team shared word that he’ll run Capitals training camp while Barry Trotz works with Team Canada at the 2016 World Cup of Hockey.

Giving Reirden a promotion makes sense, as he’s been linked to some head coaching searches. The Washington Post compiled some of his opportunities:

In the past two years, Reirden has been a serious candidate for two NHL head-coaching gigs. According to the Calgary Sun, Reirden was a finalist to coach the Flames before they settled on Glen Gulutzan, and he was considered for the New Jersey Devils’ vacancy last summer, too. Lane Lambert, another Capitals assistant, was a finalist for the Colorado Avalanche head-coaching job earlier this month, according to the Denver Post.

The Capitals have a pretty well-regarded coaching group, as many credit goaltending coach Mitch Korn with some of Braden Holtby‘s improvement since Trotz took over.

Maybe we’ll see Reirden and Lambert get head coaching gigs at some point, but for now, Trotz’s “coaching tree” stays intact.

Penguins believe Kessel, others can heal up by start of next season

SAN JOSE, CA - JUNE 12:  Phil Kessel #81 of the Pittsburgh Penguins celebrates with the Stanley Cup after their 3-1 victory to win the Stanley Cup against the San Jose Sharks in Game Six of the 2016 NHL Stanley Cup Final at SAP Center on June 12, 2016 in San Jose, California.  (Photo by Bruce Bennett/Getty Images)
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Going deep enough into the playoffs to win the Stanley Cup often comes with the cost of stacking up injuries, and the Pittsburgh Penguins paid the price.

As the Pittsburgh Tribune-Review and others report, Phil Kessel (wrist) and others aren’t guaranteed to be healthy to start the 2016-17 regular season.

“All the injured guys are tracking in the right direction,” GM Jim Rutherford said. “Until they all get here, we won’t know 100 percent where they’re at, but it sounds like all the guys should be ready for camp.”

The Pittsburgh Tribune-Review runs down a significant list of players who likely accrued bumps and bruises that may carry over:

Defenseman Trevor Daley, for instance, suffered a broken ankle on May 20. Kris Letang (foot), Nick Bonino (elbow infection), Bryan Rust (hand), Patric Hornqvist (hand) and Evgeni Malkin (elbow), among others, dealt with physical problems of varying severity at times.

If recent history is any indication, Kessel will probably fight hard not to miss time.

For all the weird criticisms he receives, he’s been remarkably durable, playing in every game during the past six seasons.

That’s impressive stuff, but the Penguins would be wise to keep an eye on the big picture. If it comes down to making Kessel and others swallow a little pride to limit the odds of aggravating injuries, they need to do it.

Even if it means a bumpy start to their title defense.

Win now, worry later: Why the Lightning should go all-in

CHICAGO, IL - JUNE 08:  Ben Bishop #30 celebrates with Andrei Vasilevskiy #88 of the Tampa Bay Lightning after defeating the Chicago Blackhawks 3-2 in Game Three of the 2015 NHL Stanley Cup Final at the United Center on June 8, 2015 in Chicago, Illinois.  (Photo by Bruce Bennett/Getty Images)
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This is part of Lightning day at PHT …

The Chicago Blackhawks employed some great teams in winning three championships so far during the Jonathan ToewsPatrick Kane era, but there was something special about that first group.

For one thing, Toews and Kane were playing out the final years of their entry-level contracts. Those CBA-powered savings gave the Blackhawks a surplus of players who would eventually be too expensive to retain, most notably Dustin Byfuglien, Andrew Ladd and Brian Campbell.

That fantastic group never faced elimination during an overpowering run to the 2010 Stanley Cup.

Thanks to deft maneuvering by GM Stan Bowman, the Blackhawks were able to reload and put together other strong supporting casts even after big losses, and that could be a profound lesson for the Tampa Bay Lightning.

It might be tempting for the Bolts to merely keep their window open as long as possible. Instead, they should take a big swing in 2016-17 and then trust management to recover from any fallout.

Bishop’s expiring contract

The safe move would be to trade away some of the expiring contracts on Tampa Bay’s roster instead of risking getting nothing when they leave.

Many believe that Ben Bishop is on his way out. With one year left on a contract that carries about a $6 million cap hit and Andrei Vasilevskiy getting the Jake Allen-style “you’re the man” extension, it seems like a matter of time.

Keeping Bishop around for one more season might just pay off, though.

For one thing, Vasilevskiy’s shown signs of brilliance, yet his current NHL numbers aren’t overwhelmingly strong. Bishop, meanwhile, kept the Bolts afloat during some tough times in 2015-16.

Even if the Lightning feel like Vasy is the guy, what if he gets hurt? They’ve already seen goalies get injured at inopportune times, and the reigning champion Penguins provide another reminder.

(For more on the Bishop situation, click here.)

Win low, worry later

GM Steve Yzerman deserves ample credit for signing Steven Stamkos and Victor Hedman to relative bargain deals, but those are still expensive contracts. The squeeze is coming.

That said, the Lightning may want to identify their own Byfugliens and Ladds and go for broke in 2016-17. Let’s not forget how close they were to a second consecutive Stanley Cup Final appearance even with Stamkos on the shelf.

It’s tough to imagine the Bolts managing to keep all of Tyler Johnson, Ondrej Palat and Jonathan Drouin. On the other hand, it’s difficult to imagine many opponents managing to contain an attack that features Stamkos, Johnson, Palat, Drouin and other dangerous attackers.

(Plus, another year of evaluation would give Yzerman time to determine who is truly a core member.)

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It’s a challenging situation, but the Lightning easily rank alongside the Pittsburgh Penguins, Washington Capitals and maybe a few other select teams as the cream of the East crop.

They’re positioned to jostle with the elites for some time, but why not take their best shot in 2016-17 and then make the best of things later on?

Sometimes the difference between really good and truly great comes down to having the courage to make these tough calls.