Reuters: Sale of Florida Panthers "has collapsed"

Posted at 6:12pm EST Thursday:

...(a) source told Reuters the deal collapsed because Panthers owner Alan Cohen did not want to cede control of the team, while Sports Properties was scared off by the Panthers' weak finances.

The league itself claimed the sale would not gain NHL approval since the new ownership "lacked a primary investor taking a substantial equity stake" (Miami Herald, Wednesday).

Deep doodoo indeed for an owner who is reportedly desperate to sell. This affects everything from naming a permanent general manager to free agency pickups to potential trades.

Thoughts?

over 2 years ago Donny Rivette 2 comments 0 recs |

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I have not followed this very closely, so forgive my ignorance.
1) What percentage was he selling?
2) How could you not give up some degree of control if you are selling?
3) If he is desperate to sell, why let the deal collapse over the control issue?

All things Thrashers + stats: www.birdwatchersanonymous.com

by The Falconer on Sep 10, 2009 7:31 PM EDT reply actions

He was selling part of his controlling interest and a bunch of the minority partners were selling. I’m not sure the total, but it was more than half. Part of the negotiations were around who would run the team. Originally, SPAC were saying Cohen wouldn’t run the team. So, who knows what really went on there.

This whole thing is more about the minority partners than Cohen. A bunch of them want out and he doesn’t have the cash to buy them out.

Someone from SPAC probably realized how worthless the swamp land around the BAC is, as well. Plus the league wasn’t too into it. Sounds like the whole thing was doomed from the start, as is SPAC’s whole intended purpose, unless another league will let them buy a team with no primary investor. You’d think someone would have checked that out before going to all the trouble.

by John Beatty on Sep 11, 2009 8:18 AM EDT up reply actions

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	GP	W	L	OTL	PT
Florida Litter Box Cats	55	27	17	11	65
Washington Japers' Rink	56	28	23	5	61
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Eastern Standings

	GP	W-L-OT	Pts
New York Rangers Blueshirt Banter	54	36-13-5	77
Boston Bruins Stanley Cup of Chowder	53	34-17-2	70
Florida Panthers Litter Box Cats	55	27-17-11	65
Philadelphia Flyers Broad Street Hockey	56	31-18-7	69
Pittsburgh Penguins PensBurgh	56	32-19-5	69
New Jersey Devils In Lou We Trust	55	31-20-4	66
Ottawa Senators Silver Seven	58	28-22-8	64
Toronto Maple Leafs Pension Plan Puppets	56	28-22-6	62
Washington Capitals Japers' Rink	55	28-22-5	61
Winnipeg Jets Arctic Ice Hockey	57	26-25-6	58
Montreal Canadiens Habs Eyes On The Prize	56	23-24-9	55
Tampa Bay Lightning Raw Charge	55	24-25-6	54
New York Islanders Lighthouse Hockey	55	23-24-8	54
Buffalo Sabres Die By The Blade	55	24-25-6	54
Carolina Hurricanes Canes Country	56	20-25-11	51

Florida Panthers Roster

	#	Pos.	DOB	W	H
Krys Barch	21	RW	3/26/1980	237	6-1
Sean Bergenheim	20	LW	2/8/1984	200	5-11
Matt Bradley	22	RW	6/13/1978	201	6-3
Brian Campbell	51	D	5/23/1979	189	6-0
Scott Clemmensen	30	G	7/23/1977	203	6-3
Keaton Ellerby	4	D	11/5/1988	220	6-4
Tomas Fleischmann	14	RW	5/16/1984	192	6-1
Jason Garrison	52	D	11/13/1984	216	6-2
Marcel Goc	57	C	8/24/1983	202	6-1
Erik Gudbranson	44	D	1/7/1992	195	6-4
Ed Jovanovski	55	D	6/26/1976	221	6-3
Tomas Kopecky	82	RW	2/5/1982	203	6-3
Dmitry Kulikov	7	D	10/29/1990	196	6-1
John Madden	10	C	5/4/1973	190	5-11
Jacob Markstrom	25	G	1/31/1990	178	6-3
Shawn Matthias	18	C	2/19/1988	216	6-4
Colby Robak	47	D	4/24/1990	194	6-3
Mikael Samuelsson	26	RW	12/23/1976	218	6-2
Mike Santorelli	13	C	12/14/1985	190	6-0
Jack Skille	12	RW	5/19/1987	215	6-1
Tyson Strachan	23	D	10/30/1984	215	6-2
Marco Sturm	16	LW	9/8/1978	194	6-0
Jose Theodore	60	G	9/13/1976	185	5-11
Scottie Upshall	19	RW	10/7/1983	200	6-0
Kris Versteeg	32	RW	5/13/1986	182	5-10
Mike Weaver	43	D	5/2/1978	186	5-9
Stephen Weiss	9	C	4/3/1983	193	5-11

Florida Panthers Injuries

Questionable

Player	Injury Type	Injury Date
Jason Garrison	other-excused	02/13/2012

Out (IR / Out / Suspended / Physically unvailable)

Player	Injury Type	Injury Date
Ed Jovanovski	hand	01/17/2012
Marco Sturm	knee	02/02/2012
Scottie Upshall	sports-hernia	01/25/2012
Dmitry Kulikov	knee	01/22/2012
Jacob Markstrom	knee	01/08/2012

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