Truth & Rumors > NHL

NHL counteroffers prospective Stars buyer

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06:45 AM ET 03.02 | Allen Americans owner Doug Miller has submitted an offer to buy the Stars and is in the process of negotiating, according to a source close to the situation. The Hockey News reported Tuesday that Miller made an offer that had a cash base of $110 million and included assumed debt and future debt, but the source refused to confirm any of the reported numbers. The source did say that Miller, the lenders and the NHL already were discussing counteroffers to the deal by Tuesday night. They also might be negotiating how the money would be structured up front.

Dallas Morning News

Dallas Stars, Norm Hall/NHL/Getty Images Dallas Stars, Norm Hall/NHL/Getty Images
March 2, 2011  08:36 AM ET

Nice. 2 new stories today, both about ownership issues with southern teams. How's that state of the league again Gary?

And now they finally seem to have someone interested in potentially buying the team - someone with deep pockets - and they want to mess with him and put in their own counter-offers? Why didn't the league just buy the team off Hicks in the first place if they intend on bidding to falsely drive up the price? As owners they could have set the price, which they have so ably done in Phoenix. If I were this guy and heard/saw the NHL was going to pull this kind of bushleague bullshyte, I'd walk out of the negotiations with a quick flip of the bird at Bettman on the way, and never look back.

Good thing Balsillie isn't a qualified owner - if Gary keeps playing his cards this way he'll be NHL Commissioner AND running the hockey operations of every team south of the Mason Dixon Line. Now THAT is power!

March 2, 2011  08:50 AM ET

What's the over/under for how long it will be until we see the article that says Miller was unable to conclude a deal and is now looking elsewhere?

March 2, 2011  08:50 AM ET

10 comments and 9 are spam.
what a waste.

March 2, 2011  08:51 AM ET
QUOTE(#11):

What's the over/under for how long it will be until we see the article that says Miller was unable to conclude a deal and is now looking elsewhere?

I 'll go 3-2, within 5 business days

March 2, 2011  09:10 AM ET
QUOTE(#11):

What's the over/under for how long it will be until we see the article that says Miller was unable to conclude a deal and is now looking elsewhere?

But elsewhere may not be an NHL team either. If he sours on the league because of their greasy business practices, he may just decide to steer clear of anything to do with it. And Gary will have to find yet another ownership group with eyes bigger than pockets like he's done over the years in TB, Fla, Atl, Nashville, Pho, Dallas (sort of)...have I missed any?

Nothing like chasing off the guys with the real money but letting punks like that Boots Del Baggio or Len Barrie over-estimate their worth and embezzle clients for the money to buy the team get in. There's a reason these guys are billionaires: they avoid bad business decsions. They won't overpay for a team just for the "opportunity" to own an NHL team. And Gary can't find people to pay what he wants them to pay unless they are of questionable financing or ethics (or both). What an idiot.

March 2, 2011  09:11 AM ET

I'm beginning to believe that this site is sharing in the revenue for the sales of this counterfeit junk. Perhaps the ad revenue for the crap on this site enables them to pay for the incompetent moderators.

March 2, 2011  09:18 AM ET

I read an article on the potential Stars sale a bit today too. Its unreal how they manipulate numbers to falsely inflate a team's value.

The guy is offering $110mil in cash up front for the team. You'd think that would mean its a $110 million deal right? Think again. The league adds in the $20 mil they have "lent" the Stars to operate this year, and that payback gets added to the price. Personally, if I were buying a company laden in debt, I'd be taking that debt out of the purchase price, but I digress.

So now we have a $120 million deal. Think that's it? Nope.

The league has projected that the Stars will continue to lose approx. $25million/yr for the next 4 years, so they build THAT into the announced purchase price as well.

So, for a tidy $110 million up front investment, the prospective owner has purchased himself a team the league values at $220 million. That's a quick double-up on your investment if you believe in that.

Does this sketchy valuation process make anyone else think of Enron and the rest of all them companies that pulled greasy accounting moves 5 or so years ago, or am I making a mountain out of a mole hill here?

March 2, 2011  09:20 AM ET

Sorry about the math - its a total of $230, not 220...what's 10 mil lost here or there?

March 2, 2011  09:42 AM ET
QUOTE(#17):

Sorry about the math - its a total of $230, not 220...what's 10 mil lost here or there?

It was lost when you added the $20 mil in debt, you went from 110 to 120 (should have been 130)...but really what 10 million amongst friends anyway.

March 2, 2011  10:01 AM ET
QUOTE(#15):

I'm beginning to believe that this site is sharing in the revenue for the sales of this counterfeit junk. Perhaps the ad revenue for the crap on this site enables them to pay for the incompetent moderators.

Look below everything. Below the quote box at the "sponsored links".

It is all the same caca.

March 2, 2011  10:26 AM ET

It's no wonder that Phoenix hasn't sold yet with all the crap that the league is pulling with this counter-offer, clause this and that BS. I really hope that Dallas doesn't become the new Phoenix.

My real question is this; Bettman's bosses are the owners, right? Teams that are sinking like Dallas and Phoenix (just to name 2) are pulling money out of everyone's pockets due to profit sharing. Why aren't the owners jumping waist deep into Gary's **** right now to get these deals done and staunch the bleeding? I see all the crap that is going on financially with all these southern teams and only one word comes to mind that could possibly explain any of it. Group-think.

To any outside observer the problem and the potential solutions should seem obvious.

March 2, 2011  10:32 AM ET

11 Spam pieces of garbage out of 22 posts. And quick as a rattlesnake strike, you've removed one. How incompetent are the administrators? Pretty much the most incompetent people in the world. Good job.

March 2, 2011  10:33 AM ET
QUOTE(#14):

But elsewhere may not be an NHL team either. If he sours on the league because of their greasy business practices, he may just decide to steer clear of anything to do with it. And Gary will have to find yet another ownership group with eyes bigger than pockets like he's done over the years in TB, Fla, Atl, Nashville, Pho, Dallas (sort of)...have I missed any?Nothing like chasing off the guys with the real money but letting punks like that Boots Del Baggio or Len Barrie over-estimate their worth and embezzle clients for the money to buy the team get in. There's a reason these guys are billionaires: they avoid bad business decsions. They won't overpay for a team just for the "opportunity" to own an NHL team. And Gary can't find people to pay what he wants them to pay unless they are of questionable financing or ethics (or both). What an idiot.

He is a ****. He talks out of his **** so much that I don't think anyone believes anything he says. This league is in trouble in a number of different markets and the league seems either too stubborn or too stupid (my choice) to do anything about it. They have potential owners with actual money (unlike the guys you mentioned) jumping through hoops and asked to pour huge amounts of money into teams that are never ever going to be successful if they stay in their current city. The league needs to either sell and move about 3-4 teams into new markets or just contract them totally.

March 2, 2011  10:38 AM ET
QUOTE(#9):

Nice. 2 new stories today, both about ownership issues with southern teams. How's that state of the league again Gary?

This might explain part of his problem. :-)

March 2, 2011  11:04 AM ET

Here's another thing to consider. NHL teams aren't the only game in town. Arena football is back, MLS is expanding and there are all sorts of other possibilities for those guys to spend their money on. I don't think too many of these prospective buyers are so into hockey that they have to own an NHL team. I think many of them just want to be involved with sports in some way. So, if the commish and his cronies keep up this nonsense there may not be any credible buyer out there to save these teams. And, then what will the commish do?

March 2, 2011  11:20 AM ET
QUOTE(#12):

10 comments and 9 are spam.what a waste.

Damn spamming weasels!

March 2, 2011  11:21 AM ET
QUOTE(#25):

This might explain part of his problem. :-)

Nice! No wonder he can't hear anybody!

March 2, 2011  11:48 AM ET
QUOTE(#28):

Nice! No wonder he can't hear anybody!

Oh he hears 'em alright. They're just giving him crappy advice!

March 2, 2011  12:34 PM ET
QUOTE(#27):

Damn spamming weasels!

Hey! Stop insulting weasels!

 
March 2, 2011  12:38 PM ET
QUOTE(#29):

Oh he hears 'em alright. They're just giving him crappy advice!

LOL! Nice one too, Slapshot.

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