Predators Owner Looks For Local Investors To Help Franchise

Predators Owner Looking For Local Investors To Acquire Up To 40% Stake In Team

Predators Owner Craig Leipold said that he is “looking for one or more local investors to buy up to” 40% of the team, which could cost $50M or more, “in the hope that local owners can inject new life into the franchise and boost sagging attendance,” according to John Glennon of the Nashville TENNESSEAN. Leipold “said his interest in finding local owners doesn’t mean the Predators are heading elsewhere.” He said one or more local owners could “open doors to get businesses involved. We don’t have that.” Leipold added that he is not “heavily involved with any candidates at present.” Glennon notes the Predators are averaging around 14,700 fans per game, up slightly from 14,428 last season. Under the team’s 30-year Gaylord Entertainment Center lease, the Predators can exercise an out-clause if attendance falls below 14,000 per game this season and next season. Leipold also said that the Predators must average 13,200 in paid attendance next season “or they will miss out on 25[%] of the total money available to them from the league’s revenue-sharing plan.” He added that in ’08-09, they must average 14,000 in paid attendance “or they will miss out on 50[%] of the money” (TENNESSEAN, 1/12).