In today’s Metro Sports Authority meeting, the board has laid out stern conditions if Nashville Predators chairman and principal owner David Freemand doesn’t get his tax issues cleared up soon. This, from the Tennessean:
According to recommendations proposed by board member Lauren Brisky and adopted by the entire Sports Authority, Freeman has until March 5 to cure his lien. If the lien is not taken care of, the remaining Predators owners must provide the city with guarantees that they can cover Freeman’s personal guarantee to Metro.
Brisky disclosed that she had met multiple times with Freeman and NHL Commissioner Gary Bettman on the issue of the tax lien. Bettman requested that the Authority provide the Predators with more time before taking any action against Freeman or the team.
Additionally, Brisky’s recommendations included a provision that the Predators would provide written acknowledgment that they waive their early termination rights for 2010 and 2011. If the team exercises its early termination clause, Metro would be due $20 million.
The article goes on to note that Freeman provided the board with a certified letter stating that his net worth exceeds double the amount required in his personal guarantee to the city, and that he has funds deposited with the IRS to cover his 2007 income tax issue, pending the outcome of the IRS ruling in his case.
In other words, Freeman’s financial solvency doesn’t appear to be an issue, but getting the tax lien resolved still is, despite his previous claims that it would be taken care of by the end of January. The Sports Authority wants to both get it resolved, and strengthen the city’s hold on the Predators at the same time.
As a fan, that’s OK by me.