May 30 2008 02:51PM
So it seems that Daryl Katz has asked for an additional month before he pays the EIG a sum of money so large that it could bankroll Mathieu Roy until the year 2408 (400 years at $500,000 per year). Katz is waiting for the NHL to approve the sale, and wisely doesn’t want to stroke a cheque when there is a 0.00000001 per cent chance he may have to go bang on Cal Nichols’ door and demand it back. There isn’t a chance his financing won’t go through. He’s just waiting for the NHL Governors to meet and say:
"Oh, Katz’s bid makes every single team in the NHL $50 million more valuable? That works for us. SALE APPROVED!"
Bear in mind that the Anaheim Ducks sold for only $75 million in 2005, so all owners have seen a tidy little profit when the team sells. Katz’s bid makes all these owners in the southern US—who’re losing a few million here and there—infinitely happier as the investment continues to climb the charts and they can take a tax loss every year.
*bored silence amongst readers*
Uh, yeah. Well, there’s about as much of a scandal here as at a Mennonite prom, so don’t sweat it, lambs. All is well, sale approved, super-rich balling local dude leads the Oil to 100 consecutive Stanley Cups.
The Journal made a half-hearted attempt to stir up some drama noting Katz is financing the deal through some private equity firm—the CIT Group—in the US. This same CIT Group that denied this LA movie producer named Oren Koules a $100 million loan to buy the Lightning earlier this year. Let’s be honest, lambs, there’s a big difference between newly minted local bajillionaire Daryl Katz and Oyen Koules. The CIT Group actually denied Koules the loan because of the crap he has “produced” during his career. Behold the careers of the guy who tried to buy the Lightning:
(click to enlarge) Hmmm. So this is the garbage that finances a dream to own an NHL hockey team. But why would a man busy producing this crap even know what the NHL is? Oh, that’s because our boy also had a hockey "career" in the late '70s early '80s, playing for eight teams in five years in the Dub:
Katz probably picked the CIT Group to finance the deal because they passed on funding this turd.
Compare that to Daryl Katz film career: