Preds Investors Asked To Kick In Money To Make Up For Shortfall
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Predators Suffering Cash Flow Shortage
After Not Making NHL Playoffs |
Not making the NHL playoffs "cost the Predators local owners, who recently had to kick in more money to Nashville's hockey enterprise because of a cash flow shortage," according to Brad Schrade of the Nashville TENNESSEAN. Attorney Bob Tuke, who reps Predators investor Herb Fritch, said that the "recent call for additional money among the owners resulted because of a 'slight revenue shortfall' when the team didn't make the playoffs at the end of the season." Tuke said that the amount was "not significant, although he did not have specific figures." Tuke: "It's a cyclical thing. This is not a big deal." Tuke said that there is "no rancor among the local owners." Tuke: "Generally, the financial condition is good. It will be a lot better when we get the issue of [former Predators investor William "Boots"] Del Biaggio resolved." Schrade noted the team's owners have "made an offer to buy Del Biaggio's shares out of bankruptcy." Predators Senior VP/Communications & Development Gerry Helper said that he "wouldn't 'confirm or deny' if there was a call for additional money." Meanwhile, Helper said that despite the "tough economic times, ticket sales are on track with where they were a year ago with renewals well over 70[%]." Helper added that new sales are "slightly ahead of last year." The team sold "about 8,700 season tickets last year, which include full and partial season packages" (Nashville TENNESSEAN, 5/23).
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