In a transaction closing February 16th, it was reported in news outlets that Research in Motion purchased, through a numbered company, 25.7 acres of industrial land in Cambridge, Ontario for $3.7 million.
The numbered company - 1258700 Ontario Limited - however, is a wholly-owned holding company of Jim Balsillie. This is rather telling as we now know that the land is a private Balsillie holding, and not a part of Research in Motion.
Further investigations show that Mr. Balsillie has disposed of approximately $100 million of RIM stock over the past three years, mostly through this company, well over the $2 million needed for the stock options he exercised over that same period. It appears the $50 million in personal cash plus $190 million in financing he's rumoured to be putting together to purchase the team may indeed by correct, and that plans for an arena in Cambridge are in motion.
What this means for the Predators future in Nashville is unclear, as only 14,185 in paid attendance is required to keep the team for at least three more years. If this figure isn't met and the city doesn't make up the difference though, hockey fans in Southwestern Ontario better start socking away some ticket money.
Balsillie directly owns 666,000 shares in RIM, and indirectly owns 11.136 million shares in RIM through his wholly-owned holding company, 1258700 Ontario Limited. RIM shares closed Friday at $175.75 on the TSX, leaving Balsillie's total holdings valued at $2.07 billion.
Sunday, June 10, 2007
Friday, April 13, 2007
Move the Predators already !!
Are you kidding me ?
The Predators only had a 1.4 share, some 13,217 households, for the playoff opener against San Jose. Here's the kicker. It's a 60 % DROP from last year's rating. Put a knife in Nashville as an NHL market, Bettman has failed again !
How could so many people in a city of 1.5 million be so totally ambivalent to hockey. It's not even that they hate it, they just don't care.
Pathetic.
Here's a link to the story here.
The Predators only had a 1.4 share, some 13,217 households, for the playoff opener against San Jose. Here's the kicker. It's a 60 % DROP from last year's rating. Put a knife in Nashville as an NHL market, Bettman has failed again !
How could so many people in a city of 1.5 million be so totally ambivalent to hockey. It's not even that they hate it, they just don't care.
Pathetic.
Here's a link to the story here.
Tuesday, April 10, 2007
Blackhawks win draft lottery.
It seems even with owner Bill Wirtz doing everything possible to destroy the franchise, the hockey gods finally have taken mercy on the fans.
At the lottery, held behind closed doors at the NHL's offices in New York (of course these suits won't do it publicly since they believe transparency is their enemy), the Hawks won the right to select first overall, moving up four spots. Unfortunately for fans, there isn't a stud franchise prospect this year.
Philadelphia will select number two, followed by Phoenix, Los Angeles, and Washington.
Chicago is actually amassing a pretty solid young core with players such as Jonathan Toews, Tuomo Ruutu, Cam Barker and Brent Seabrook already in the organization. The future looks bright a few seasons down the road if management will keep these guys together. As any Hawks' fan will tell you though, don't count on it !
At the lottery, held behind closed doors at the NHL's offices in New York (of course these suits won't do it publicly since they believe transparency is their enemy), the Hawks won the right to select first overall, moving up four spots. Unfortunately for fans, there isn't a stud franchise prospect this year.
Philadelphia will select number two, followed by Phoenix, Los Angeles, and Washington.
Chicago is actually amassing a pretty solid young core with players such as Jonathan Toews, Tuomo Ruutu, Cam Barker and Brent Seabrook already in the organization. The future looks bright a few seasons down the road if management will keep these guys together. As any Hawks' fan will tell you though, don't count on it !
Weighing in on Imus.
I usually don't like to weigh in on politics, however you know what really bugs me about the whole situation ? Al Sharpton and his self-righteous indignation to Imus' comments.
Is Don Imus a racist ? Probably. But is he any worse than Rush Limbaugh. Remember back when Limbaugh called New Orleans mayor Ray Nagin - Ray Nagger ? I sure do. Yet instead of pursuing the removal of Limbaugh from the airwaves, Sharpton goes after the next publicity stunt.
What Don Imus said was wrong, though he has somewhat apologized and accepted his punishment (2 week suspension). However, the Rev. Al Sharpton's shameless pursuit of self-promotion is equally disgusting.
The world would be a better place if both of these guys would crawl back under their rocks !
Is Don Imus a racist ? Probably. But is he any worse than Rush Limbaugh. Remember back when Limbaugh called New Orleans mayor Ray Nagin - Ray Nagger ? I sure do. Yet instead of pursuing the removal of Limbaugh from the airwaves, Sharpton goes after the next publicity stunt.
What Don Imus said was wrong, though he has somewhat apologized and accepted his punishment (2 week suspension). However, the Rev. Al Sharpton's shameless pursuit of self-promotion is equally disgusting.
The world would be a better place if both of these guys would crawl back under their rocks !
Monday, April 9, 2007
Belfour Busted for Boozin' - Again !
No, this time he didn't offer a billion dollars to the cops, but he still was arrested after refusing to leave a south Florida bar.
First he fights with teammate Alex Auld in a hotel after leaving a bar earlier this season, and now this ? Obviously you can take the player out of small town Manitoba, but you can't take small town Manitoba out of the player.
Get some help Eddie.
First he fights with teammate Alex Auld in a hotel after leaving a bar earlier this season, and now this ? Obviously you can take the player out of small town Manitoba, but you can't take small town Manitoba out of the player.
Get some help Eddie.
Sunday, April 8, 2007
The Pronger-Oilers fiasco.
Oilers' governor/part owner Cal Nicholls has finally spoken out publicly about what caused Chris Pronger to demand a trade last summer.
Pronger's wife Lauren hated Edmonton and for the most part remained back in her native St. Louis, only flying into Edmonton with the kids for home games then flying right back out when the Oilers went on the road. It's also implied the Prongers' marriage was over if Chris remained in Edmonton.
Family is certainly more important than hockey, so I can understand Pronger's dilemna, and his subsequent trade demand. It's a shame the Oilers had to lose a great hockey player because of an heiress wife's inability to support her husband's career by living in Edmonton six months per year.
I give a lot of credit to Oilers' management for being compassionate about the situation by accomodating his demand, even though moving him crippled the franchise's reputation and on ice performance.
Personally I would've made him sit out for the entire length of his contract, and forego the remaining $ 25 million. Let his wife deal with that back in St. Louis, while pissing away her husband's Hall of Fame career.
Pronger's wife Lauren hated Edmonton and for the most part remained back in her native St. Louis, only flying into Edmonton with the kids for home games then flying right back out when the Oilers went on the road. It's also implied the Prongers' marriage was over if Chris remained in Edmonton.
Family is certainly more important than hockey, so I can understand Pronger's dilemna, and his subsequent trade demand. It's a shame the Oilers had to lose a great hockey player because of an heiress wife's inability to support her husband's career by living in Edmonton six months per year.
I give a lot of credit to Oilers' management for being compassionate about the situation by accomodating his demand, even though moving him crippled the franchise's reputation and on ice performance.
Personally I would've made him sit out for the entire length of his contract, and forego the remaining $ 25 million. Let his wife deal with that back in St. Louis, while pissing away her husband's Hall of Fame career.
Friday, April 6, 2007
Kansas City An NHL City ?
With a brand spankin' new 17,500 seat arena set to open this fall, complete with all the latest bells and whistles, Kansas City seems to be the NHL's new darling child.
But haven't we seen the NHL make enough mistakes though ? Atlanta looked like the next great success to the NHL, but their paid attendance this season is only 13,300. Nashville was another Bettman poster child. Current paid attendance ? 13,500. Phoenix ? 13,300. Florida ? 12,500. Get the point ?
It's comical to think that just because a city has an arena, that the NHL will be a success. Hockey has failed in all prior incarnations in Kansas City, and there is nothing to believe it won't again.
The best the Major League Baseball Royals could draw in their heyday was only around the league average in attendance, and they haven't come close to that in the past fifteen years. In fact, in the past three seasons they've been among the worst three teams in the entire major leagues.
There's a very good reason why the Scouts were forced to leave town in the 70's. Why repeat the same mistake 30 years later ?
But haven't we seen the NHL make enough mistakes though ? Atlanta looked like the next great success to the NHL, but their paid attendance this season is only 13,300. Nashville was another Bettman poster child. Current paid attendance ? 13,500. Phoenix ? 13,300. Florida ? 12,500. Get the point ?
It's comical to think that just because a city has an arena, that the NHL will be a success. Hockey has failed in all prior incarnations in Kansas City, and there is nothing to believe it won't again.
The best the Major League Baseball Royals could draw in their heyday was only around the league average in attendance, and they haven't come close to that in the past fifteen years. In fact, in the past three seasons they've been among the worst three teams in the entire major leagues.
There's a very good reason why the Scouts were forced to leave town in the 70's. Why repeat the same mistake 30 years later ?
Wings sign Datsyuk long term.
Seven years for average of $ 6.7 million per season.
What this signing does is set the stage for free agents this summer. Danny Briere's market value is now set comfortably in the $ 7.0 million+ range.
With every team having $ 4 million more in cap space next season, prospective free agents are in for a very lucrative summer.
What this signing does is set the stage for free agents this summer. Danny Briere's market value is now set comfortably in the $ 7.0 million+ range.
With every team having $ 4 million more in cap space next season, prospective free agents are in for a very lucrative summer.
Brodeur's "new" Wins Record a Sham.
So Martin Brodeur has broken Bernie Parent's regular season wins record.
What a sham that only could happen in the NHL. Brodeur has won ten games by shootout. A quick question... Since skaters' shootout goals don't count in their personal statistics, then why do shootout wins go in a goalie's personal totals ?
The NHL has blatantly cheated Bernie Parent. The wins record is no longer legitimate. Great job Mr. Bettman !!!
What a sham that only could happen in the NHL. Brodeur has won ten games by shootout. A quick question... Since skaters' shootout goals don't count in their personal statistics, then why do shootout wins go in a goalie's personal totals ?
The NHL has blatantly cheated Bernie Parent. The wins record is no longer legitimate. Great job Mr. Bettman !!!
The Eagle gets pardoned !
According to several news reports, former NHLPA Head Honcho Alan Eagleson was pardoned in 2005 for his 1998 fraud conviction. And that's a good thing ! He served his debt to society.
Former players will come out of the woodwork whining about the injustice of it all, but really, don't they have to take some blame ? Afterall, the NHLPA backstabbed Bob Goodenow, the anti-Eagleson, so they deserve no sympathy. They're only concerned about themselves first, so why should Eagleson be further condemned for merely doing the same ?
Former players will come out of the woodwork whining about the injustice of it all, but really, don't they have to take some blame ? Afterall, the NHLPA backstabbed Bob Goodenow, the anti-Eagleson, so they deserve no sympathy. They're only concerned about themselves first, so why should Eagleson be further condemned for merely doing the same ?
Nashville rejects Predators
Even with $ 20 lower bowl tickets, two for 1 ticket deals, among the NHL's lowest prices, and a Stanley Cup favourite, the team has failed to sell out it's final two regular season home games.
Tuesday, April 3 14,663
Thursday, April 5 16,624
Even though these figures are pathetic, when factoring in the more than 1700 in free tickets the team has to give away it's brutally obvious Nashville is a Bettman experiment gone horribly wrong.
Tuesday, April 3 14,663
Thursday, April 5 16,624
Even though these figures are pathetic, when factoring in the more than 1700 in free tickets the team has to give away it's brutally obvious Nashville is a Bettman experiment gone horribly wrong.
Bye Nashville, we hardly knew ya !
In 1997, after failed attempts by the city to steal the Timberwolves from Minnesota, and the Devils from New Jersey, Nashville gave Craig Leipold a cheque for $ 20 million (of the $ 80 million fee) to use towards an NHL expansion franchise. Thus, the Predators were born.
One of the conditions imposed by the NHL was the requirement that season ticket levels stay above a minimum 12,000, which the Predators met their first season. The people in Nashville have since failed the NHL miserably, with season tickets now having dropped all the way down to 8,500.
Even after a year long lockout specifically designed to help bad market franchises like this, the Predators are still an off-ice disaster. Even after their third winning season the team still can't draw, even with among the lowest ticket prices in the NHL. Paid attendance is only around 13,000. Unable to come close to filling the building regularly, the team gives away over 1700 free tickets per game. It's no wonder Bill Daly is clearly worried about this franchise.
Gate revenues are atrocious, at $516,000 per game, barely half of what the smaller-sized market Calgary Flames generate, so it's no surprise to see Leipold greedily cashing his $ 12 million revenue sharing cheque from the good NHL markets' fans.
One bright light is that this exciting team, after two straight seasons with paid attendance under 14,000, this summer can trigger an exit clause in their lease setting the stage for the team to relocate for 2008-09. For a fee of just $ 18 million to leave Nashville, financial viability is just a year away.
One of the conditions imposed by the NHL was the requirement that season ticket levels stay above a minimum 12,000, which the Predators met their first season. The people in Nashville have since failed the NHL miserably, with season tickets now having dropped all the way down to 8,500.
Even after a year long lockout specifically designed to help bad market franchises like this, the Predators are still an off-ice disaster. Even after their third winning season the team still can't draw, even with among the lowest ticket prices in the NHL. Paid attendance is only around 13,000. Unable to come close to filling the building regularly, the team gives away over 1700 free tickets per game. It's no wonder Bill Daly is clearly worried about this franchise.
Gate revenues are atrocious, at $516,000 per game, barely half of what the smaller-sized market Calgary Flames generate, so it's no surprise to see Leipold greedily cashing his $ 12 million revenue sharing cheque from the good NHL markets' fans.
One bright light is that this exciting team, after two straight seasons with paid attendance under 14,000, this summer can trigger an exit clause in their lease setting the stage for the team to relocate for 2008-09. For a fee of just $ 18 million to leave Nashville, financial viability is just a year away.
The myth of NHL attendance.
With the NHL sending out monthly press releases trumpeting "record" attendance figures, recently published figures show that the NHL used almost 900,000 free ticket giveaways through two thirds of the season to calculate their "record" attendance.
View this eyebrow raising chart here...
http://www.theglobeandmail.com/v5/content/pdf/NHLweb.pdf
View this eyebrow raising chart here...
http://www.theglobeandmail.com/v5/content/pdf/NHLweb.pdf
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