Tag: Bruce Levenson

Michael Gearon

Video: Thrashers owner Michael Gearon breaks down crying talking about team’s sale and move to Winnipeg


Say what you will about the situation involving the Thrashers sale to True North and moving to Winnipeg, it has an effect on everyone.  For the fans in Winnipeg, they’re ecstatic. For the fans in Atlanta, they’re crushed. For the soon-to-be former owners of the Thrashers, they’ve said they’re disappointed and apologetic for not getting a deal done locally.

Are they sincere about that? Well now you can be the judge.

Thrashers owner Michael Gearon spoke with the media in Atlanta today to express his thoughts and feelings on the situation that will now see the Thrashers move from Atlanta to Winnipeg after 12 seasons in Georgia. The Thrashers made the playoffs just once and since Gearon and business partner Bruce Levenson bought the team as part of the Atlanta Spirit Group in 2004, they’ve been on hard times with making things work in Atlanta ever since.

In his talk to the media, Gearon had to pause numerous times so as to not get busted on camera crying fully for the fate of the team and hockey in Atlanta. Do you believe his feelings though? Given how things have shaken out we’re more than a bit cynical. Judge for yourselves however.

This video is no longer available. Click here to watch more NBC Sports videos!

Thrashers owners tell fans they’re sorry it didn’t work out in Atlanta

Michael Gearon, Bruce Levenson

While the Thrashers are officially being sold to True North Sports and Entertainment and moved to Winnipeg next season, there’s the other side of the story that’s out there. That part of the story comes from the Thrashers owners in the Atlanta Spirit Group, Bruce Levenson and Michael Gearon.

While the press conference was going on in Winnipeg to euphoric cries of joy, Atlanta Spirit was quietly expressing their own version of sadness and dismay at the financial mess they put themselves in and forced their hand into selling to True North.

Levenson and Gearon posted a letter to fans in Atlanta on their website to express what they’re feeling as they sweat out their final days before the NHL Board of Governors meet on June 21st to officially approve the sale. Pardon us if we’re not feeling the sincerity they’re trying to push on the fans.

As many of you know, for some time we have been seeking a buyer for the team or a partner willing to join with us in continuing to fund the team. We hired an investment banking firm to seek out potential investors with the expressed goal of finding someone who would keep the team here in Atlanta. In recent months, we openly indicated a growing urgency to secure assistance in off-setting our operating losses in hopes that our public plea would produce investors who, to that point, had eluded us.

After extensive effort, nobody has come forward. As a result, we had no choice but to explore the investment option presented to us by the NHL in the form of True North Sports and Entertainment.

Their push to find local owners only became public in the last few months and saw the likes of baseball star Tom Glavine and former NHLer Anson Carter come out with hopes of assembling investors together to buy the team. Those plans didn’t work out for any number of reasons be it a lack of suitors willing to part with their money or Atlanta Spirit Group unwilling to see things out.

Levenson and Gearon made this mess and did little if anything to clean it up. Their efforts to help make the Thrashers look as unappealing to other potential buyers in the seven years they owned the team worked out well enough so that they could cut a sweet deal with True North. Everything works out nicely for them, meanwhile the fans get screwed and the city of Atlanta loses their second NHL team in 31 years, a truly unbelievable accomplishment of failure.

Atlanta Spirit Group should be embarrassed with how they handled the Thrashers and for treating the team as a side thought. Instead, they’ll take the money and run while Canada can celebrate the return of a franchise to within their borders. We’re happy for Winnipeg here, don’t get us wrong, but seeing Thrashers fans get shown the door in such a way is low. Perhaps not as low as the Baltimore Colts in the NFL, but this ranks up with one of the uglier ownership fiascoes of modern times.

Atlanta-to-Winnipeg update: Last local bidder all but out of running for Thrashers

Thrashers Flagging Fans Hockey

While we continue to keep an eye on the news surrounding the potential sale of the Atlanta Thrashers to True North Sports and Entertainment, a deal that was reported last week to being possibly done on Tuesday of this week, we find out today that hopes for a local buyer are dwindling fast.

Chris Vivlamore of the Atlanta Journal Constitution reports today that the last local prospective buyer interested in keeping the team in Atlanta is apparently all but out.

The last-ditch effort for a buyer willing to keep the team in Atlanta appears to have expired. I’m told that “probably, but not completely” the one final prospective buyer is now out of the picture.

This story has been nothing but disheartening for the hockey fans in Atlanta and getting this piece of news seemed all but inevitable as the Atlanta Spirit Group seeks to get out from under its self-imposed boondoggle in Atlanta and find a way a way to keep their own interests safe.

Meanwhile, Atlanta columnist Jeff Schultz is waiting on NHL Commissioner Gary Bettman to drop into Atlanta to pledge his support to keep the Thrashers in the south the way Bettman and the NHL did to keep the Coyotes in Phoenix. So far, Bettman himself has been very quiet about things as the situation in Atlanta continues to crumble while the interests in Winnipeg wait patiently to celebrate in earnest at the return of the NHL to their Canadian prairie city. Schultz isn’t expecting to see anything from the NHL home office, however.

The team’s sale to a Canadian outfit and move to Winnipeg seems to have been a fait accomplifor a while now, notwithstanding the constant denials by Bettman, Thrashers’ ownership and anybody else who’s worried more about their own reputation than what’s wrong or wrong.

The only reason we know the move won’t be completed today is that it’s Victoria Day in Canada and the banks are closed. Alas, Bettman/NHL (relocation fee) and Bruce Levenson/Atlanta Spirit must wait on their millions.

Waiting is all that seems to be happening now as True North and Atlanta Spirit work out what should be a landmark sale that sees a franchise returning to Winnipeg for the first time in 15 years. Nothing about what’s going on is fair to the fans in Atlanta and it’s clear that Atlanta Spirit has failed as an owner in the NHL. Given that they’ve been trying to sell the team for nearly six years and have come up with nothing tells you all you need to know about the situation there. The NHL can’t afford to have two teams mired in ownership hell and with one obvious buyer at the ready for any franchise to purchase, the NHL has to take care of itself first.

Big business has a way of getting what it wants no matter what and the hockey fans in Atlanta are feeling the pain of that right now.