Bankruptcy court approves sale of 'Boots' Del Biaggo's stake in the Predators

by Chris Burton on Aug 6, 2010 7:14 PM EDT

Per Brandon Gee at the Nashville Business Journal, a San Francisco bankruptcy court has approved the purchase of 'Boots' Del Biaggo's stake in the Nashville Predators. The catch? The deadline for the $15.2 million sale is August 12:

The Predators' ownership group plans to buy Del Biaggio's 27 percent stake in the team, which is valued at $25 million, for $15.2 million. But the deal is conditioned on a Aug. 12 closing so that the ownership group can make a $412,969 interest payment to CIT Lending Services Corp., the team's lender, that is due Aug. 13 and otherwise would be owed by Del Biaggio's estate.

Obviously, the sooner this gets resolved, the better. We want as few off ice issues as possible when the puck is dropped for some Duck hunting in October.

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i hope this goes through ok

it would be great to start this season off without having to have this Monkey on our back.

by bluegrassbaby on Aug 7, 2010 12:04 PM EDT reply actions

Fill me in

I know this is great, but I am stupid when it comes to some of this legal mumbo jumbo. Do we see any problems with this black cloud being swept away?

by ablairnash on Aug 7, 2010 12:11 PM EDT reply actions

Bankruptcies are usually prettty straightforward...

They just have to make that $412,969 payment in short fashion.

by DonBorvio on Aug 7, 2010 1:57 PM EDT up reply actions

preds shares

what would happen worst case scenario,if the preds did not get nhl approval before the 13th?

by predator63 on Aug 7, 2010 5:04 PM EDT reply actions

Leave Off-Ice Stuff at the Gate

While logically I don’t see anything stopping this black cloud from going away (since I’m sure Bettman and the NHL are watching this like a hawk), it is very important to close all the details of this issue before first regular season game. The longer this goes on, the more chance it has to flow into other non related issues.

by J.P. Quayle on Aug 8, 2010 1:12 AM EDT reply actions