OTTAWA 07, 3-4 GROUPS IN THE RUNNING

Just came across this article in the Ottawa paper which speaks for itself.
Indicating there are 3-4 credible groups and how the league will be asking for a $6M franchise fee and equally as important a $10M security deposit. The latter which is long overdue.
Interestingly, the Watters group only paid $3.5M and did post a $5M bond, but this disappeared when the Gleibs took over and made a mess, paying no fee and no bond.
There is no question Tom Wright should never have accepted these clowns without at least the cash, but the BOG accepted same. Also as we know, it was the Gleibs or nothing situation.
Since this will no doubt be the last chance in Ottawa, they better get the correct owner and with the significant scratch.
Despite the suggestion, if they are not willing to pony up the franchise fee and the bond, I’d say no team, let’s move on out east to QC and Halifax.

CFL looking for cash in Ottawa
League vows to return to capital in 2007

Matthew Sekeres, CanWest News Service

Published: Saturday, July 08, 2006
FRANCHISES I OTTAWA – The Canadian Football League says there is a good chance it will return to Ottawa in 2007, but unlike earlier this spring, a new franchise will not be awarded minus an expansion fee and a security bond.

Commissioner Tom Wright told the Ottawa Citizen earlier this week the league’s newly formed franchise committee has settled on charging a prospective Ottawa owner a fee, perhaps as much $6 million, to acquire the franchise.

Moreover, it is believed a new owner would be required to post a $10-million line of credit – roughly the cost of operating the team for one year – from which the league could draw funds should there be any financial difficulties after an agreement is reached.

Wright said the franchise committee has established guidelines for an Ottawa team and that the amount of the expansion fee will be decided at the committee’s next meeting “in a week or so.” The line of credit, meanwhile, was introduced by former CFL commissioner Michael Lysko, who had the original Renegades ownership group, led by Brad Watters, post a $5-million bond to secure the franchise’s future.

Bernie Glieberman did not pay a franchise fee nor post a line of credit when purchasing the club in May 2005.

Watters’ group paid a $3.5-million franchise fee.

But both elements could be significant stumbling blocks for any new owner.

The expansion fee is a particular stretch given the team could have been purchased for next to nothing this winter. But not charging a fee also poses problems for the league because it suggests franchises have no value and because existing owners would lose money by splitting league-generated revenues nine ways instead of eight.

“I don’t think [the expansion fee] will be a deterrent at all,” Wright said.

Wright, who announced this week that he will be leaving his post after the Grey Cup in November, has called returning to Ottawa his first priority. He’s clearly determined to leave a legacy of nine franchises – the same number he inherited. An agreement with an owner would have to be reached by October.

“Beyond that, you’re looking at 2008,” he said.

Wright told the National Post this week three or four credible groups have emerged since the Renegades suspended operations in April.

One is fronted by former Parliament Hill chief of staff Anthony Primerano, on behalf of Golden Gate Capital Corp., a Toronto financial services company. Another comprises a group of American investors, who are led by a Canadian.

well, hopfully Ottawa will have a team back in 2007

I liked Otawa but how many times are they going to bring shame to the CFL. I say first give someone else a chance.

I disagree with Brett Favre. The Rough Riders had a long, proud history.. I would be devestated if the Stamps had been destroyed by the ineptitude of F-troop. I wouldn't wish that on anyone. I think under a decent ownership group, the Ottawa franchise could be strong again.. this wasn't the fan's fault, they turned out just as strong as in Regina or Montreal or TO, and we're not sitting here talking about folding those clubs. Bring football back to Ottawa with a credible group, bring back the Rough Rider name (they had it first anyway) and then think about going to other, unproven places.

Yeah, but don't ask Gades' fans what they think of new owner possibly having to pony up $6 mllion "expansion" fee for a team that was "suspended." :wink: :roll:

I agree with that as well. It's hard to cheer for CFL Football since the Gades are dead and buried.

They're not dead.

They're resting.

I have said it before, the league has to be firm with the franchise fees whatever the amount. Non negotiable amount with the much needed $10M bond. Pay it or see you later mentality.
Why is it or appears how no one bitches about other league grossly overated fees and then comes along our beloved CFL with in my opinion undervalued $6M, it should be at least $10M+.

Pining for the fjords ...

Hypothetically, if F-troop had driven the Stamps into the ground ... would everyone blame the Stamps fans?

Maybe, but that era was a lot shorter than what Ottawa fans have dealt with.

Every other team has had highs and lows since 80s as far as attendance, wacky owners or whatever.

Problem in Ottawa was that it never seemed to end. There was never a sustained upswing. Just more of the same old-, same-old.

Duckmonk wrote:

I agree with that as well. It's hard to cheer for CFL Football since the Gades are dead and buried
Not hard for me to enjoy CFL football Gades or no Gades. It would be nice if they were still in the league but there aren't and the action this year, even with my Cats being crap, is as good and as exciting as ever.

Not sure I understand correctly though with this statement. Maybe you were a Gades fans? This would make sense then what you are saying, I could understand this more if this was the case.

Sorry, but 8 teams and 18 game sked doesn't do it for me --- for a lot of reasons.

Maybe it's just me but I haven't this season to be overly exciting.

Glad I disagree with you, in fact, even with my Cats not doing well, I can't wait to go to the games here fast enough or watch the games on TV. I think this season has been as exciting as ever. Watching Charles Roberts, now that guy is exciting.
So I disagree with your take on the season sobrien. 8 teams is fine and dandy with this guy.