Question.

Who's collecting the interest on the 6 million that was put down on deposits for season tickets. Not a ticat question but it has bothered me for awhile now. Some rich guys are getting richer and we are all falling over hoping for NHL hockey. I just smell somthing real bad here or I am still heart broken from 1990 when we had the best bid and lost.

One hopes that Jim Balsillie will donate the interest to one or more worthy local charities if the Predator franchise does not come to Hamilton.

Guys like Balsillie are experts at mitigating risk. This whole process is expensive - if you can get someone else to cover the costs, why not.

In the past, you'd get the city to pay for your bid, but Hamilton has been burned by this NHL dance countless times before. Going directly to the would-be fans to cover the costs, is, IMO, a brilliant strategy. I also prefer it as a taxpayer.

I like the idea of getting deposits on seats for a team we dont have, in a stadium that would obviously be very different, with no marketing, and best of all.... No idea how much the seats would actually cost.

Brilliant.

How can such a brilliant man be unsuccessful in bringing the holy grail (Predators) to the Hammer?

FYI this is a rhetorical http://www.m-w.com/dictionary/rhetorical question.

Ticket Master is legally required to hold the funds in a separate internal trust account. The funds would not be turned over to Basille until if and when the team was transferred to Hamilton and a ticket selling arrangement was made between the Preds and TM. As TM is a very profitable business I do not forsee them handing over any interest made on these funds to anyone. I guess that is one of the reasons why they are so profitable. Plus, I am sure you can appreciate, they did not set up this initial deposit arrangement out of the goodness of their hearts. It is to hold these funds for up to two years (?) and make money off of the depositors money.

Oh, now there's an aspect of this I hadn't considered. The would-be fans can't even be content in the knowledge that the interest from their "deposits" is funding the bid process. No, it's going to Ticketmaster, the corporation that, apart from the local crack dealer and MLSE, is most guilty of abusing it's customers. Heroes and villians abound - somebody needs to be writing all of this down.

hamilton wont get the preds...

there was an article in the star, where nasville city council said they wont let the preds leave, cz they are good for businesses in the area...

the only way the preds can leave nashville, is if they get less than 14,000 season tickets to break thier lease....apparently the city will buy the tickets to make up the difference.

Not so sure:

Check out his article: http://tennessean.com/apps/pbcs.dll/art ... /706150413

A former Mayor's aide, and a former city councilor are working for Leipold. They're objective is to sell the team to Balsillie and stop the losses that have accrued to $70m so far.

Furthermore, later this year there will be a mayoral election in Nashville. Do you think the majority of Nashville citizens are for local gov't subsidies for the Preds? This is the USA and Tennessee to boot. not exactly a traditional hockey hotbed. Also consider they've already kicked in tens of millions and the perception is that the team is leaving. I can't see it happening.

All Balsillie has to do is pay the city of Nashville their money back and pay for the lease and voila. Those amounts are payable by the likes of Balsillie and are much smaller that his proposed price tag of $238m.

Am I the only person who doesn't care if we ever get an NHL team here??

^ What? ... Did someone say something?

:)

no, you're not ... but as long as the taxpayer doesn't pay, i don't care either way......

[url=http://www2.sportsnet.ca/video/latest/15/20070614_Nashville_fighting_to_keep_Preds]http://www2.sportsnet.ca/video/latest/1 ... keep_Preds[/url]

Lovely spin...dedicated spin perhaps, but Leipold's losses do not lie.

The 14,000-seat figure in the lease is the sticking point. Nashville didn't make that limit last year.

There will be a fan bashlash if the Balsillie deal goes through. That will be ugly. I do not think the city or the corporate community there will step up to pay for an extra 2,000 seats per night to pick up the shortfall.

They can call themselves a hockey sinkhole, but it's still a sinkhole.

Oski Wee Wee,

That payback provision isn't in the lease, but could be part of a settlement out of court. Depending on the machinery put into motion for relocation in the eventual the Balsillie-Leipold deal is approved, that might be settled sooner than later.

Even IF this Nashville "Save The Preds" bandwagon is beginning, Balsillie would simply have to adjust ticket prices accordingly to put the squeeze on it.

Oski Wee Wee,

(borehamgirl) Am I the only person who doesn't care if we ever get an NHL team here??
No borehamgirl, many of us right on this site, share that opinion.

No I just don't want a Team Here at all
Look at Toronto there sport Market is over Crowed.
Football Soccer Basketball Baseball Hockey Lacrosse Hell Maybe they even have a Pro Square Dancing Team

We don't want a Crowed Sports Market in Hamilton
It means less Money for Our Ticats

Look at this way. With the local community growing. an increased demand in Ti-Cats' tickets will jack up the prices.

A little competition might be good.