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An Ownership Update

Panthersun Still don't know if the NHL's Board of Governors will be looking at the potential sale of the Panthers or not, but whatever goes down apparently won't happen for a few more months.

Here's what I am hearing today: The Sports Properties Acquisition Corp. and the Panthers are close to have a sale agreement in place. Apparently there are only a few minor details to be worked out. Once a purchase contract is signed, SPAC has 75 days to close the deal; it would have to get 70 percent of its investors to agree to the deal, something that hasn't happened yet.

So even if SPAC agrees to buy the Panthers (by trading stock in the publicly traded company for the team's assets) it's not a done deal. Word is SPAC thinks it has the 70 percent vote to enable it to buy the team, but that is far from a done deal. Again, they would have almost two months to close things out.

All is quiet from the Panthers side of things, but I hear that all the minority investors are on board with this taking place (they are tired of writing checks) and that Michael Yormark would remain with the franchise and continue to run the business side of things.

But this is going to take some time to work out, so unless the Board of Governors address it today in Chicago, there's not much news. And, all the BOG may do is look at the proposal and let the Panthers know whether or not they would approve SPAC as an ownership group.

As far as the GM thing goes, I would guess it continues to drag on. This story is a long way from being wrapped up.

Will update things as the day goes along....

Comments

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Interesting. Thanks for the update.

Good, it will be this TEAMS best case scenario if Yorkman is no longer the owner. Good for them!

As for the GM, man it's pretty pathetic you go the entire off-season (which should be our most important since we came so close) without one. Draft and FA period GMless hahahaha. Thats Florida Panthers Hockey!!!!!

Just a little patience, yeah yeah.

Yormark stays even if it goes through? Ugh... I guess we'll just have to keep urinating on top of those ads on the freshener disks.

Uh...Zeke, who's Yorkman? And Cohen is the majority owner.

Team doesn't have a full-time GM due to the potential sale of the team, try to follow along. Sexton has been acting GM and has been doing a pretty good job considering.

If you really think about it we haven't had a GM since Dudley left. First in the position was Keenan who continued to do what he did in St Louis and that is run an organization into the ground. After Keenan we had Martin playing GM while coaching, he never liked the GM position and when he had to give up coaching he kept the seat warm until he was offered a coaching job and he couldn't get out of here fast enough. Now we have Sexton who was out of the league for years until his buddy Martin had him come here to act as GM while Martin was coaching.

The only hockey thing that this organization has done right since Cohen has owned the team is hiring Peter DeBoer, they have drafted the wrong players, picked the wrong coaches and the wrong GMs.

One correct hockey move in ten years leaves you with no playoffs

We have a saying at my job. "It may not be right, but its right for here". And the word Disarray perfectly describes that phrase and this organization.

laus 723 stfu

Laus723 lives in a fantasy world. He still thinks the Panthers are doing a good job. Cross your fingers and hope for a playoff birth this year, won't you. Better yet, hope you're not the only one sitting in the BAC ten games into the season.

Even with Tanguay this team has no shot. Their D is worst than last year (good luck filling up Bouw's minutes and replacing Skrastins reliable play). They have no depth up front. Once a couple of forwards go down with injuries, circus time begins.

I give DeBoer one or two seasons before he bails. He's not going to risk damaging his reputation as a good young coach by staying here. Either that or they'll use him as a scapegoat and fire him.

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