KC or Hamilton, might have a hockey team soon

[Dr. Sak]

From TSN

Jim Balsillie is at it again.

After a failed bid to purchase the Pittsburgh Penguins, sources tell TSN the Co-Chief Executive Officer of Research In Motion has an agreement in place to purchase the Nashville Predators.

The transaction is subject to league approval and that may take some time – sources suggest weeks as opposed to days – and it remains to be seen whether that approval will be granted.

Balsillie's proposed deal to purchase the Penguins fell apart in large part because of conditions set by the NHL. That was because the NHL believed strongly in Pittsburgh as an NHL market and did not want Balsillie buying and moving the team. It's no secret Balsillie would like to put a second NHL franchise in southern Ontario, either in Hamilton or the Kitchener-Waterloo region. Whether the league would look more favorably on a relocating of the Predators remains to be seen, but serious questions about the long-term viability of the Nashville market have been raised this season.

Current Predators owner Craig Leipold met with the NHL's executive committee on Wednesday to advise them of the agreement to sell the team to Balsillie. He then informed Predators employees of the pending sale. Leipold is expected to address the media Thursday afternoon in Nashville.

From another source

The source went on to say that Craig was very upset with having to sell the team and that the team would remain in Nashville for at least another year, but after that he couldn't guarantee anything.

According to a source,there is an "out" clause in the Preds contract with the city that if the team averages less than 14,000 in a season and then doesn't hit the attendance in the following season the team can pay the city 9 million dollars to leave.

There will be much speculation regarding whether or not the Preds will remain in Nashville. It is interesting that Basillie is rumoured to have walked away from the Pens deal when he was not allowed to have an out clause stating if a new building wasn't built in Ptittsburgh he could move the franchise. As the rumor I heard goes, the NHL wouldn't give him that out then.

Two ways to look at this... both just speculation on my part right now, but you would have to think that Basillie would not get involved with anohter NHL franchise if he wasn't allowed to move it. OR...perhaps he has realized that he can't move a franchise, and that since Nashville has the building and a fresh new naming rights corporate deal.

The other place I might add that he was looking to possibly move the Pens was Hamilton, Ontario.

[Ksyrup]

Hamilton is mentioned in the article specifically. I don't see any reference to KC...?

[Dr. Sak]

Originally Posted by Ksyrup

Hamilton is mentioned in the article specifically. I don't see any reference to KC...?

Well when he was in the process of buying the Pens the first time there was mention of him looking at KC too because of the Arena already built and facilities in place. I'll change the thread title a bit so it isn't as misleading.

[Mizzou B-ball fan]

Originally Posted by bsak16

Well when he was in the process of buying the Pens the first time there was mention of him looking at KC too because of the Arena already built and facilities in place. I'll change the thread title a bit so it isn't as misleading.

Assuming Basillie ends up buying the Predators, he would not be moving them to KC. The KC arena ownership group already has someone that will be the owner of any NHL team that comes to KC.

Here's the info on that setup from an article about the Pens last year.......

William "Boots" Del Biaggio III, the venture capitalist who has an agreement with Sprint Center management to own any NHL team that relocates to Kansas City, co-owns a minor league hockey team with Lemieux.

Note that Biaggio is also a minority owner of the Sharks and would sell his portion of that club when he gets his own franchise.

[GMO]

Or a team could be re-located to Kitchener-Waterloo, Ontario.

Though the Toronto Maple Leafs would not be happy.