Brad Schrade of the Tennessean caught up with Metro Attorney Larry Thrailkill and asked him about Jim Balsillie's ((pictured, thanks globeandmail.com)) current re-interest in the Nashville Predators franchise with William "Boots" Del Biaggio's 27-percent stake held up in Bankruptcy Court.Thrailkill maintains that if any owner, regardless of who ends up with the winning bid, assumed the Del Biaggio shares he or she would have no impact on the city of Nashville's guidelines for keeping the Preds at their downtown arena home.
The Preds still have a lease with Metro ((that what they call themselves in a collective-governmental sense)) that is for two more seasons. The lease can only be re-examined if the team doesn't average 14,000 per game in attendance and loses US$20-million.
Thrailkill also recalls an attempt by the ownership group over the summer to restructure the deal-in-place for an adjustment in veto power over possible future owners. He doesn't recall if the measure was approved, but you'll recall yesterday's words from local ownership head David Freeman that alluded to an "approval process" for anyone that would assume those duties.
"As I have said for months, if the trustee accepts our bid, we will write him a check. If the trustee wishes to accept the bid of another, we anticipate he will adhere to the terms of our governing legal documents and seek our approval. If such a request for approval is made, we will consider the request at the appropriate time."
Last time we checked, a bankruptcy court just cares about recouping losses toward the eradication of a debt, not where the money comes from under any circumstance...
That's just us...
No comments:
Post a Comment