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January 11, 2008
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Judge Rules In Favor Of Aquilini In Canucks Ownership Suit

Judge Rules In Favor Of Aquilini
In Canucks Ownership Lawsuit
B.C. Supreme Court Justice Catherine Wedge Thursday confirmed Francesco Aquilini as the Canucks owner, throwing out a lawsuit filed by Vancouver business execs Tom Gaglardi and Ryan Beedie, who accused Aquilini of “going behind their backs to snare the Canucks and GM Place” from them in ’04, according to Ian Mulgrew of the VANCOUVER SUN. Wedge said in her ruling that Aquilini “did nothing improper” when he left Gaglardi and Beedie’s group and purchased half of the Canucks from John McCaw.  Wedge concluded, “The relationship among Gaglardi, Beedie and Aquilini was not one of partnership or joint venture.” She added that “even assuming the relationship constituted a partnership or joint venture, … it ended when Aquilini left.” Aquilini said, “We knew we were right and the court has confirmed and vindicated us” (VANCOUVER SUN, 1/11). Aquilini said that he “wouldn’t rule out filing a defamation suit against [Gaglardi and Beedie], and asking the courts to order the plaintiffs to pay his legal fees.”  Beedie said he and Gaglardi will “discuss a possible appeal with their lawyers.” In Vancouver, Susan Lazaruk notes the Gaglardi and Aquilini families are "involved in a joint-venture" to develop land near Squamish, B.C. into a ski resort and community over the next 20 years, and Aquilini said that he “doesn’t expect this dispute to affect that deal” (Vancouver PROVINCE, 1/11).

REAX: In Vancouver, Ed Willes writes, "It’s hard to locate noble motives and higher purposes when this much money and this many lawyers are involved but Beedie and Gaglardi pursued this action for one simple reason. They felt they’d been wronged.” They “still fought for what they believe in and while you can fault them for a number of things in this affair, you can’t fault them for that” (Vancouver SUN, 1/11). However, in Vancouver, Tony Gallagher writes the lawsuit “didn’t seem to be about getting the [Canucks] anyway. Beedie and Gaglardi knew their chances were slim [to] none and slim was in the boarding process at the airport. This seemed to be about trying to slime the Aquilinis, and it failed miserably” (Vancouver PROVINCE, 1/11).

MOVING FORWARD: The VANCOUVER SUN’s Cam Cole writes under the header, "Over Time, We'll Find Out If Aquilinis Are Good Owners." Cole: “Maybe if the Aquilinis were really super, super-rich, like Gaglardi and Beedie, the Canucks would be more of a plaything and their bottom line wouldn’t be of such vital concern, and the owner wouldn’t have to squeeze so hard for every penny of revenue in order to service the debt on the purchase. But it's their team, and these things have not affected their backing of it." Canucks GM Dave Nonis said, “Nothing changed, from our standpoint. I never was operating this team worrying about who the owner was going to be. It was never a problem in the room, the players weren’t affected by it” (VANCOUVER SUN, 1/11).


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