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John Moores

Thrashers announcement probably won’t come by Tuesday, Hawks exclusivity window closes

By James O'BrienMay 23, 2011, 8:55 PM EDT

As Winnipeg Mayor Sam Katz said, it seems like it will just be a matter of time before we hear an official announcement that the Atlanta Thrashers will relocate to Winnipeg. Earlier today, Joe passed along word that the final potential local owner who could keep the Thrashers in Atlanta is fading from the picture. Here are two more updates on that situation.

  • Chris Vivlamore of the Atlanta Journal-Constitution reports that NHL deputy commissioner Bill Daly said it’s “safe to say” that an announcement regarding the deal won’t come by Tuesday. True North and the Atlanta Spirit already reportedly agreed to a $170 million price tag (with $60 million going to the NHL as a relocation fee), but there are still a few hurdles to clear. Vivlamore points out that Monday is Queen Victoria Day in Canada, a bank holiday that probably stood in the way of certain elements being completed.

There are still a few things to sort out, perhaps most notably being an affirmative vote by the NHL Board of Governors. Whether an announcement comes Tuesday, later this week or any other time, we’ll keep you updated.

  • As we’ve mentioned before, the chances of a local group keeping the Thrashers in Atlanta keep getting slimmer. There is a small nugget of decent news for people keeping the dream alive, though.

The Atlanta Spirit and San Diego Padres owner John Moores closed their window of exclusivity regarding the sale of the Atlanta Hawks, according to Tim Tucker. The closing of that window opens up the possibility of a buyer gobbling up a package deal that would include the Thrashers, Hawks and the home of both teams: Phillips Arena.

Making such a deal might produce a better chance to produce profits than owning the Thrashers alone, but Tucker reports that the Atlanta Spirit said that a qualified buyer hasn’t emerged to purchase all three entities. (Obviously the entire package deal would be prohibitively expensive and arguably an even bigger risk for an ownership group.)

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The lifting of that exclusivity window can allow people to hope for a last minute miracle, but logic still points to a Thrashers move. Stick with PHT for updates on this situation as it heats up this week (and beyond).

Thrashers update: Local interest exposed, True North seeks Winnipeg’s help with debt

By James O'BrienMay 17, 2011, 7:32 PM EDT
1 Comment

The latest round of news revolving around the potential relocation of the Atlanta Thrashers reveals some not-so-great reports for both sides. Unfortunately for Thrashers fans, the outlook continues to be pretty grim on their end.

Many Thrashers fans attached some hope to a potential new local owner nicknamed “The Balkan.” That previously shadowy figure was revealed to be Detroit-arena venture capitalist JB Smith. Smith is reportedly interested in a package deal that would include the Thrashers, Atlanta Hawks and Phillips Arena. Unfortunately, various reports indicate that he might not have the cash to swing such a deal.

Beyond that, there is the rather thorny issue that the Atlanta Spirit group allowed San Diego Padres owner John Moores an exclusive window to buy the Hawks and Phillips Arena without the Thrashers. That same report indicates that Moores and the Atlanta Spirit still have a way to go to make a deal in that area, if it even gets done.

Based on recent evidence, it sounds like it would be awfully difficult to find a viable owner to keep the Thrashers in Atlanta, at least in time to satisfy the Atlanta Spirit group. Keep in mind this situation is still far from decided, though.

The last bit of news is that True North is asking for some government help to free up money to buy the Thrashers. True North hopes to free up debt from running the MTS Centre, the building that would house the relocated and re-named Thrashers. The difference is that it looks like local government will cooperate with True North, according to the Winnipeg Free Press. That stands in contrast to Atlanta’s perceived indifference toward keeping the Thrashers from moving.

Here’s the lowdown on True North’s negotiations with the city of Winnipeg, via the Winnipeg Free Press.

True North, which owns the MTS Centre, is looking to the province to help it manage the debt load it carries on the downtown arena in order to free up money to help pay for the relocation of the NHL team to Winnipeg.

A source said that request from True North is being studied by the province and in all likelihood will be accepted. The value of the request, or if it involves a low or no-interest loan, is not known.

“The building is a public asset,” said a source explaining why the province is interested in an arrangement that sees aid go to the MTS Centre. “It will never move.”

Keeping with previous patterns, signs point to the Thrashers moving to Winnipeg, but there are still a lot of moving parts involved right now. As always, we’ll keep you updated, as there could be quite a few twists and turns left.