Predators deal expected at 3 p.m. today

Wednesday, November 14, 2007 at 12:44pm

An announcement of a deal between the local investors group trying to buy the Nashville Predators and Metro is expected at 3 p.m. today at the Sommet Center but only if the “term sheet” is signed by noon or 1 p.m.

The term sheet represents the best and final offer Mayor Karl Dean presented last Friday. Sources said Dean still doesn’t have the signed term sheet.

But it appears the local group has checked off on all of the big points of Dean’s offer. However, the details related to legal language in the deal are still being worked out. The deal would ensure the team stays in Nashville from anywhere from three to five years.

The local investors group got passed the stumbling block on capping growth in sales tax, seat surcharges and other revenue the team would get from the arena.

Dean offered to split the growth in revenues after 2006 equally but cap the number for the Predators at $2 million. The city’s bond counsel had sought that cap to ensure that Metro has no trouble issuing bonds on future work related to the arena.

Sources said if the team and the arena are doing well in three years, the cap could be addressed.

Filed under: Sports
Tagged:
By: gdiafante on 12/31/69 at 6:00

I'll expect to see id and Frank there...

By: idgaf on 12/31/69 at 6:00

What kind of messed up deal is this? They are "capped" that they can only make 2 million more and we are "capped" at loseing only 3.8 million more.Put a "cap" in the deal or beat the rush to the stores for the vasoline.

By: gdiafante on 12/31/69 at 6:00

Maybe they can borrow from your supply id.

By: CupCrazy on 12/31/69 at 6:00

Idgaf, how do YOU know all the inner workings of this deal, while the rest of us only know tidbits?? You seem to be the knower of all...You WHINE and WHINE and WHINE..Why don't you run for some elected office, or SHUT UP???Mayor Dean said that this deal protects the taxpayers...What part of that don't you comprehend??? The substandard schools in Metro aren't going to lose any funding, sidewalks will still be built, and the jails will still have food to feed the prisoners..We understand you HATE sports, but good grief, do you complain about EVERY THING??3.8 million more?? that's money the Predators generate already...READ the story before posting your freaking drivel...

By: frank brown on 12/31/69 at 6:00

If they accept the Mayor's offer as I "understand" the offer I think the taxpayers have done about as well as they could have expected. Not as well as they should have but considering the politics the Mayor probably got us all he could.

By: idgaf on 12/31/69 at 6:00

Cup Crazy your name says it all.

By: gdiafante on 12/31/69 at 6:00

Cup, to answer your question, yes, id complains about everything.

By: Clarksville Predfan on 12/31/69 at 6:00

Great news! Now to get the corporate support in place (it is out there), fire Stevie Violetta( and apologies to all the corporate people he sent packing), and PLEASE sign J.P. Dumont to a long term contract!Id come out of the basement and get some fresh air, it will do you good!LOVE THEM NASHVILLE PREDATORS!

By: Jones36 on 12/31/69 at 6:00

NO DEAL OR PRESSER TODAY.

By: idgaf on 12/31/69 at 6:00

Of cource you do you don't have to pay for them CLARKSVILLE. You can afford to be generious with other peoples money.I could spend yours well too. Clarksville shouldn't have a problem buying a few thousand ticets over the season.

By: idgaf on 12/31/69 at 6:00

dg how about contributeing to a discussion rather then takeing pot shots at people like a little kid.

By: gdiafante on 12/31/69 at 6:00

Um, I was answering Cup's question...and what exactly was your remark about his user name??And it's gd...are you dyslexic?

By: MJB on 12/31/69 at 6:00

Cup, please don't encourage Idgaf to run for office. His neighbors might be as stupid as he & elect him, and we don't need another racist, homophobe moron on the Council.I haven't looked closely into this deal w/ the Predators. I don't mind deals on sales tax, &c., but I trust that it doesn't directly COST the city money. The part I don't get is that it could last a little a time as three years?? You can't build a fan base if you may leave in three years. Cultivating fans takes a ten-year commitment.

By: TITAN1 on 12/31/69 at 6:00

idgaf, will that be American, Swiss, or Provolone! Although, I thin Goat cheese would go better with your Boone's Farm.

By: WickedTribe on 12/31/69 at 6:00

MJB, the Preds have already been here for 10 years. So three more years will be a total of 13 years to have built a fan base.Anyway, I think keeping them here 5 years will be excellent. With this new deal, it's pretty much impossible for them to lose the money necessary to leave after 3 years rather than 5. And in 3-5 years downtown will be many times more bustling than it is now with a lot more downtown residents (all the new condos, hotels, and the new convention center) who will keep attendance very high at that point.

By: idgaf on 12/31/69 at 6:00

They have been here 10 years and couldn't do it even with our 13 million a year.You guys are the minority and Im guessing at least half of you aren't contibuting since you live out of town.It was a stupid deal from the get go.

By: gdiafante on 12/31/69 at 6:00

If only metro could tax Id's whine...what a surplus that would create!

By: CupCrazy on 12/31/69 at 6:00

Idgaf,That 13 million a year is for debt service, not given to the Predators directly..Without the 7.75% ticket tax assessed on each Predators ticket sold, Metro would be getting even LESS revenue from having an anchor tenant.Where do you get your facts?? The Nashville Predators DO NOT get 13MIl a year from the city..It's DEBT service...Is your name Michael Craddock?? You always whine, but NEVER admit that the team does NOT get monies paid directly to them..Also, tell me exactly how having the Nashville Predators here has affected your way of life?? The Metro schools have HUGE budgets and are still substandard (not the Predators fault)...They haven't contributed to the demise of your lifestyle, but you won't admit it..Why not complain on the Titan's boards about how your property taxes have TRIPLED since that new stadium was built across the river..I'm sure you'd complain if they started charging for your library card, which is where I'm sure you access the internet.

By: gdiafante on 12/31/69 at 6:00

Id will only be happy when Metro puts a large wall around the county so no one can get in. Actually that isn’t a bad idea if it keeps him from getting out…

By: MJB on 12/31/69 at 6:00

Tribe, I know of the ten years, but you knock a big hole in your fan base when you threaten to leave, and knowing that they may threaten the same thing in 2010 doesn't fill fans w/ the right spirit. Cultivating fans is a generational thing. Look at the great pro sports cities: Boston, New York, Philadelphia, Chicago. It takes time & dedication.

By: OneTimer on 12/31/69 at 6:00

you guys can speak rationally all you want to idgaf, it's wasted time. he enjoys being miserable. like Oscar the Grouch. there are people in this world who are just that way.

By: producer2 on 12/31/69 at 6:00

idgaf,What were you saying to me about the fat lady singing? I tink she is in full voice today!

By: tbench00 on 12/31/69 at 6:00

Great that its finally settled and the Preds will be around for awhile....hopefully with commnity support...a lot longer than 10 years!!!!!!!u