Ted Leonsis

Leonsis reportedly refinances Caps debt with $100M loan


Some exciting financial news that’s sure to get you out of your chair:

Washington Capitals owner Ted Leonsis has reportedly refinanced his hockey club’s debt with a sizeable loan, according to Forbes.

Leonsis, 56, is the founder, majority owner, chairman and CEO of Monumental Sports & Entertainment, a group that owns the Capitals, the NBA’s Washington Wizards, the WNBA’s Washington Mystics and the arena all three teams call home — the Verizon Center.

As for Leonsis’ Caps-related debt and loan, here’s more from Forbes’ Mike Ozanian:

Sources have told me that Ted Leonsis refinanced the debt on his hockey team last month with a $100 million package led by Citigroup. The loan was oversubscribed, meaning more people wanted to buy the debt than was available. And the refinancing was bigger than the previous loan, thereby increasing the amount of debt on the hockey team.

Leonsis bought the Capitals for $85 million in 1999 and we valued the team at $250 million last November.

Ozanian notes the NHL in general appears to be taking on more debt, something PHT wrote yesterday in a report that the league had increased its credit facility.

According to Bloomberg, the facility was raised from $400 million to $600 million:

The league also received a better rate on the agreement with Citigroup Inc. (C), which was completed last month. The new facility is priced at the London interbank offered rate, or Libor, plus 250 basis points. The previous facility was $400 million at Libor plus 300 basis points.

Professional sports leagues create loan pools by using collateral such as national broadcast contracts to secure credit at better terms than most teams could individually.

The NHL declined to comment on the report.

Ready to Roll: Oilers activate Schultz from IR, send down Reinhart

Justin Schultz
Leave a comment

The Edmonton Oilers activated defenseman Justin Schultz off injured reserve and assigned Griffin Reinhart to the minors.

Schultz has missed the last 14 games because of a back injury, but he’ll suit up in Saturday’s game against the Pittsburgh Penguins.

The 25-year-old has one assist and a minus-6 rating in nine games in ’15-16.

Here’s his interview with Oilers TV from earlier today:

Reinhart was acquired in an off-season trade with the New York Islanders this summer.

The former fourth overall pick has no points and a minus-1 rating in 12 games with the Oilers.

The Leafs will be without Reimer on Saturday

James Reimer
Leave a comment

James Reimer (lower body) won’t be available to play in Saturday’s game against Washington.

Reimer was injured during a team practice earlier this week and although the injury didn’t appear to be serious, it will prevent him from suiting up in at least one game.

The Leafs originally thought that the 27-year-old would be good to go for this tilt, but head coach Mike Babcock said Reimer didn’t feel good enough to play.

Reimer’s emerged as the go-to-guy for the Maple Leafs this season and for good reason.

He has 7-3-4 record with a 2.07 goals-against-average and a .934 save percentage in 15 games.

Another reason the Leafs have been counting on him so much is because Jonathan Bernier‘s been awful.

Bernier will get another opportunity to prove himself on Saturday night, but he faces a stiff test against Alex Ovechkin and company.

The 27-year-old has an 0-7-1 record with a 3.17 goals-against-average and a .895 save percentage in ’15-16.

In a corresponding move, the Leafs sent defenseman Scott Harrington to the minors and recalled goalie Garret Sparks.

Sparks was Toronto’s seventh round pick in 2011.

The 22-year-old has an 8-2-1 record with the Toronto Marlies this season.

War of words continues between Rangers and Bruins on Saturday


The Rangers are getting ready for their second straight matinee game on Saturday, but head coach Alain Vigneault wasn’t done addressing yesterday’s loss to the Bruins.

After Friday’s game, Bruins coach Claude Julien wasn’t pleased with Henrik Lundqvist‘s “acting” that led to a goalie interference penalty being called on forward Brad Marchand (above) and he let everyone know it in his postgame press conference.

On Saturday, it was Alain Vigneault’s turn to lash out.

“Well, (the Rangers public relations staff) filled me in a little bit on what was said after the game,” Vigneault said via the New York Daily News. “I mean it’s a little disappointing. Obviously everybody saw the knee to the head. The comments on Hank were very inappropriate. The way Hank conducts himself, on the ice, away from the rink, off the ice, the example that he sets. Who would you rather have as a son, Henrik Lundqvist or Brad Marchand? For him to say things like that about Hank, totally wrong, and probably Claude is getting a little older and needs to check his eyesight.”

The Rangers will take on the Flyers at 1:30 p.m. ET on Saturday.

Dubinsky to have hearing for cross-check on Crosby


Brandon Dubinsky and the NHL’s Department of Player Safety will have a chat about his cross-check on Sidney Crosby.

The hearing is scheduled for 11:30 a.m. ET on Saturday, per beat reporter Aaron Portzline.

As you can see in the above video, Dubinsky delivers a two-handed cross-check to Crosby’s neck, so the fact that he’s getting a hearing is no surprise.

“There’s no secret. I try to play him as hard as I can,” said Dubinsky. “That being said, I don’t try and do anything dirty. I felt like my stick ride up his back a little bit. He’s kind of bent over there in front. But again, that’s not the type of player I am. I’m going to play hard, but try and play fair and play in between the whistle.”

Crosby isn’t willing to give Dubinsky the benefit of the doubt.

Anyone who follows the NHL knows that Dubinsky and Crosby aren’t fans of each other.

The two have engaged in some serious battles, including this fight last February: