Former Tennessee Gov. Bill Haslam is buying a majority stake in Predators

Nashville, Tennessee. (AP) – The President of Nashville Predators agreed to sell most of his stake in the NHL team to the former governor of Tennessee. Bill Haslam.

The predators announced the agreement on Friday. Details of the purchase price for the franchise, recently valued at $ 680 million by Sportico, were not disclosed.

Haslam, whose brother Jimmy owns the Cleveland Browns of the NFL and Columbus Crew of MLS, will buy the majority of Nashville President Herb Fritsch’s stake in what Predators described as a “multi-phase purchase deal” that will make Haslam a majority owner.

“Since our group of owners, made up of first-day season ticket holders, came together in 2007 to buy and secure the future of the Nashville franchise, the goal has been to ensure that the team’s management is strong. local hands, ” said Sean Henry, president and CEO of Predators and Bridgestone Arena.

Henry said adding Haslam to the owners’ group strengthened the team’s local governance for years to come. Forbes estimates that Haslam costs approximately $ 2.3 billion.

“We are excited and grateful that he agreed to join the owners’ team,” said Henry.

The final documentation is being prepared. The sale has yet to be approved by the rest of the Predators organization, which includes 16 co-owners, as well as the NHL. First elected governor of Tennessee in 2010, Haslam will become a minority owner over the next few months and will gradually become a majority owner over the next few years, according to the statement.

Fritsch took over as chairman of Predators in January 2019. He was a member of Predators Holdings LLC, which bought the team and management team that ran the arena in December 2007 from original owner Craig Leipold, who bought Minnesota Wild a year later. .

The local property group retained the Nashville franchise after Leipold tried to sell Jim Balsili’s team in May 2007. That sale failed when Balsili, co-CEO of Blackberry makers Research in Motion Ltd., began taking out season ticket deposits. in Hamilton, Ontario, after telling NHL Commissioner Gary Batman that he did not intend to move the team.

Related Posts

Leave a Reply

Your email address will not be published.