Ted Leonsis

Leonsis reportedly refinances Caps debt with $100M loan

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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.

Pens coach praises Murray: ‘He doesn’t get rattled’

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Hot take: the Pittsburgh Penguins probably won’t deal with a goalie controversy going into Game 7.

(Ugh, that’s a failed hot take … you can’t use “probably” in those things, right?)

Matt Murray was fantastic at times during Game 6, much like his counterpart in the Tampa Bay Lightning’s net in a 5-2 win. Granted, there were some tense moments during the Bolts’ late-game push:

Much has been made about experience, especially from those calling for Marc-Andre Fleury earlier in this series. It’s telling that the praise Murray draws sure sounds like what you’d expect from a “veteran.”

“He has a calming influence,” Sullivan said. “He doesn’t get rattled. If he lets a goal in, he just continues to compete. That’s usually an attribute that usually takes years to acquire that, and to have it at such a young age is impressive.”

Thanks in part to Murray’s efforts in Game 6, he’ll get a chance to prove his resolve in something new: a Game 7 in the Eastern Conference Final.

Once again, his teammates seem pretty confident in this elimination situation.

Lightning lament Game 6 effort, Cooper doesn’t blame disallowed goal

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The Tampa Bay Lightning seemed to sleepwalk through the first two periods of Game 6, and waking up in the final frame wasn’t enough to edge the Pittsburgh Penguins.

On the bright side, at least the Lightning aren’t in denial about that weak first 40 minutes.

It seemed like everyone on the team more or less admitted as much in unison.

Brian Boyle added that he felt like the Lightning tiptoed around this game. Jon Cooper often provides great quips, yet he was pretty matter-of-fact in this case.

Many will linger on this disallowed goal for Jonathan Drouin, which would have provided a 1-0 lead for Tampa Bay in the first period.

Let’s face it; that moment came pretty early in the game. To Tampa Bay’s credit, they’re not pinning the loss on that setback.

Now they must set their sights on competing throughout Game 7 … and maybe earning some bounces of their own in the process.

Read more about Game 6 here.

Penguins force Game 7 after holding off Lightning rally

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The Pittsburgh Penguins played with fire late in Game 6, but they also showed plenty of fire in beating the Tampa Bay Lightning 5-2.

With that, this thrilling Eastern Conference Final will go the distance with Game 7 on Thursday.

There are at least a few “What if?” scenarios to consider, especially for the Lightning.

What if that offside goal counted?

Jonathan Drouin played some fantastic hockey on Tuesday, yet his most memorable moment came via something that ultimately “didn’t happen.” An offside call on a goal review kept a 1-0 lead from happening for Tampa Bay:

Instead, the Penguins poured it on during the first period and eventually went up 1-0. They then carried that momentum over through the second period, adding two more goals to go up 3-0 heading into the final frame.

What if Tampa Bay played more like they did in the third period?

The difference between the level of play in the first 40 minutes and the final frame were night-and-day.

Now, you can make a chicken-and-the-egg argument here. Did the Penguins take their feet off the gas with that lead? Maybe Jon Cooper finally unleashed the hounds when the Lightning were facing a big deficit?

Maybe it’s a combination of those factors; either way, the Bolts couldn’t come all the way back even after making it interesting. At one point the game was 3-2 before a Bryan Rust breakaway goal and an empty-netter put things out of reach.

Both Matt Murray and Andrei Vasilevskiy faced plenty of tough chances and came through more often than not. We’ll see if there are any goal controversy rumblings, but each netminder came through at times tonight.

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Now the series shifts back to Pittsburgh for Game 7 with a Stanley Cup Final on the line. Excited and/or nervous yet?

More: Great goals by Sidney Crosby and Phil Kessel.

Sidney Crosby scores a superstar goal

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With the Pittsburgh Penguins’ season on the line in Game 6, plenty of eyes are on big guns Sidney Crosby, Evgeni Malkin, Kris Letang and Phil Kessel.

Those marquee names are really coming through so far as they’ve now built a 3-0 lead through two periods against the Tampa Bay Lightning.

You likely already saw Kessel’s display of high-end hand-eye coordination (if not, check it here). Kris Letang scored his first goal of the series to make it 2-0 on a very tricky, well-placed shot.

The highlight really might be Crosby’s tally, though. He left multiple Lightning players baffled and beat a very-much-game Andrei Vasilevskiy to beef that lead up 3-0.