David Freeman Steps Down As Preds Chair, Tom Cigarran Takes Over

Freeman Says He Is Not Selling His 32.6% Share In The Predators Despite His Tax Issues

Predators Owner David Freeman "relinquished the NHL team's chairmanship over the weekend, yielding" to Predators investor Tom Cigarran, according to Michael Cass of the Nashville TENNESSEAN. Freeman has maintained the largest stake in the Predators since the current ownership group bought the team from Craig Leipold in '07, but the other club investors "ultimately could buy part or all of Freeman's shares." Cigarran said that "will depend on what Freeman wants to do." Cigarran: "It's his choice. If he wants to sell, we'd probably be willing to buy. But that's up to him." Cass notes the ownership group has been under scrutiny since the IRS put a $3.3M "lien on Freeman's house for nonpayment of 2007 taxes." Freeman has been an "active chairman, overseeing many key decisions but increasingly frustrating his fellow owners, especially since his tax problems came to light." Nashville's Metro Sports Authority last month "sought additional financial guarantees from Freeman or the other owners if the federal tax lien is not released by Friday." The city also wants the owners to "pledge that they won't relocate after this season or 2010-11." Cigarran yesterday said, "We want to get that behind us and move on. It's been sort of a bogus issue because there never was a time when the ownership group -- as a group -- didn't have the wherewithal to stand behind the guarantees that were made and when they weren't willing to do that. So the city was never really at risk." Cigarran pointed out that the owners "need to raise more money to pay for ongoing operations and reduce debt, but they won't let investors from outside Middle Tennessee get a majority position" (Nashville TENNESSEAN, 3/2). Freeman in an e-mail said that he is "not selling his share of the team." He currently owns 32.6% of the Predators, while Cigarran, CEO of Nashville-based Healthways Inc., owns 4.2% (GLOBE & MAIL, 3/2).