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JK_112880
(The Next Level!)
240 Posts |
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Randy
(The Next Level!)
USA
432 Posts |
 Posted - 06/12/2010 : 1:47:26 PM
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| If anything it might mean they must keep the Cyclones for another 2 years maybe? Since that is how long they have to pay back the money? |
Cyclones Fan, Win or Lose
Bengals Fan - Never! |
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Donnie Hockey
(Loves To Post!)
USA
1514 Posts |
Posted - 06/12/2010 : 6:18:45 PM
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| It shouldn't have any adverse affect on the Cyclones. They'll be there next season and beyond. |
www.twitter.com/donhelbig |
Edited by - Donnie Hockey on 06/12/2010 6:22:24 PM |
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cMan2KellyCup
(Been Here Awhile)
USA
540 Posts |
Posted - 06/13/2010 : 10:14:04 AM
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| Why would the owners of the arena want to ditch the Cyclones anyway! You have a relative financial gold mine here... we just won a 2nd Kelly Cup in three years, and that means a lot of money... and not to mention the popularity of the team, and the fact that every hockey fan in Cincinnati will be wanting to inflict major capital punishment on fountain square to the owners if they were to drop the team! I sure hope they never even think of ditching hockey! |
KELLY CUP CHAMPIONS- 2008, 2010
AMERICAN/EASTERN CONFERENCE CHAMPIONS- 2008, 2010, 2014
DIVISION CHAMPIONS- 1996, 2008, 2009, 2013
2008 BRABHAM CUP CHAMPIONS
Boards + visitors = broken bones! |
Edited by - cMan2KellyCup on 06/13/2010 10:15:20 AM |
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Donnie Hockey
(Loves To Post!)
USA
1514 Posts |
Posted - 06/13/2010 : 11:11:44 AM
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| The Cyclones are not a financial gold mine. They have lost money every year they've played at USBA. They're a date filler. |
www.twitter.com/donhelbig |
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cMan2KellyCup
(Been Here Awhile)
USA
540 Posts |
Posted - 06/13/2010 : 2:04:20 PM
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| well, they can be if they tried... 13,483 at the last game is a good first step... $161,796 is good cash flow |
KELLY CUP CHAMPIONS- 2008, 2010
AMERICAN/EASTERN CONFERENCE CHAMPIONS- 2008, 2010, 2014
DIVISION CHAMPIONS- 1996, 2008, 2009, 2013
2008 BRABHAM CUP CHAMPIONS
Boards + visitors = broken bones! |
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hrc666
(Loves To Post!)
1363 Posts |
Posted - 06/13/2010 : 2:57:41 PM
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Unless Ray Harris or Kristen Ropp are posting under a pseudonym on this board, then no one knows what the real status of the finances of the arena, team or the future of either entity is.
Given that an arrangement for payment of back taxes has been made, my opinion is that the near term future of the Cyclones and building is probably secure.
One thing to keep in mind is that the foreclosure process is a long and arduous one and that all of the parties involved knew that.
The positive news is that a payment plan has been formulated. The possible negative news is that it ever reached this point. The reason it reached this point could range from a disagreement over the valuation of the arena to something internally-problematic within Nedermayer. No one posting here knows. I could see the arena having issue with property tax valuation as they are the only entity (among PBS, GABP, Sawyer Point, Freedom Center) on the riverfront that pays property taxes, but I can't say this is the root of the issue with any certainty. I will say (with certainty) that if I owned the arena that I would push the situation over taxation value to the limit with the county - a scenario which could easily include reaching the forclosure threat threshold.
No one who isn't an insider knows what the bottom line on the team was last season either.
I will guess that the Cyclones did turn a profit on the playoffs this past season, but I don't know that for certain.
No one who isn't an insider also knows the strategic role the Cyclones play at USBA. It could be the goal of the arena for the team to be a significant money maker. For a brief while-when they were formed-the ECHL Cyclones were a significant money maker. Perhaps Nedermayer believes they can be again.
Anyone who posts on this board and claims to know the bottom line of the Cyclones or claims to know what the future holds for USBA and the team is FOS.
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"The only way David Desharnais will see an NHL game is if he buys a ticket".
--donnie hockey
"David Desharnais will be invisible during 5 on 5 hockey. IN THE AHL"
--donnie hockey
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Edited by - hrc666 on 06/13/2010 3:10:03 PM |
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JK_112880
(The Next Level!)
240 Posts |
Posted - 06/13/2010 : 5:52:34 PM
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quote:
Originally posted by hrc666
Unless Ray Harris or Kristen Ropp are posting under a pseudonym on this board, then no one knows what the real status of the finances of the arena, team or the future of either entity is.
Given that an arrangement for payment of back taxes has been made, my opinion is that the near term future of the Cyclones and building is probably secure.
One thing to keep in mind is that the foreclosure process is a long and arduous one and that all of the parties involved knew that.
The positive news is that a payment plan has been formulated. The possible negative news is that it ever reached this point. The reason it reached this point could range from a disagreement over the valuation of the arena to something internally-problematic within Nedermayer. No one posting here knows. I could see the arena having issue with property tax valuation as they are the only entity (among PBS, GABP, Sawyer Point, Freedom Center) on the riverfront that pays property taxes, but I can't say this is the root of the issue with any certainty. I will say (with certainty) that if I owned the arena that I would push the situation over taxation value to the limit with the county - a scenario which could easily include reaching the forclosure threat threshold.
No one who isn't an insider knows what the bottom line on the team was last season either.
I will guess that the Cyclones did turn a profit on the playoffs this past season, but I don't know that for certain.
No one who isn't an insider also knows the strategic role the Cyclones play at USBA. It could be the goal of the arena for the team to be a significant money maker. For a brief while-when they were formed-the ECHL Cyclones were a significant money maker. Perhaps Nedermayer believes they can be again.
Anyone who posts on this board and claims to know the bottom line of the Cyclones or claims to know what the future holds for USBA and the team is FOS.
Thank you for posting that. Until someone can cite concrete facts about the team's financial state, rather than simply declaring that "They have lost money every year they've played at USBA" without any evidence to back it up, then I'm going to put myself in the "just don't know" category. All we can really do as fans is to keep attending games and support the team in any way we can.
The main purpose for this thread is because I admittedly know nothing about foreclosure issues and I wanted to know if this week's news had the potential to affect the team negatively. So far, what I've gotten is that it is generally positive that USBA has formulated a plan to pay back what they owe and that the near future seems to be secure.
Of course this thread was asking for opinions from the start, so no one on this site really knows what's going to happen... |
Edited by - JK_112880 on 06/13/2010 5:57:43 PM |
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Randy
(The Next Level!)
USA
432 Posts |
Posted - 06/13/2010 : 6:55:02 PM
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quote:
Originally posted by Donnie Hockey
The Cyclones are not a financial gold mine. They have lost money every year they've played at USBA. They're a date filler.
Do you have a rolodex of these awesome random BS lines? |
Cyclones Fan, Win or Lose
Bengals Fan - Never! |
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cyfa48
(Rookie)
USA
34 Posts |
Posted - 06/16/2010 : 12:54:25 AM
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Surely someone has to know the story on the bottom line for this team. It seems that they do well enough to stay afloat to be brought back each year otherwise our fate is the same as Johnstown's.
Even if they take a loss, it may not be much since the owners see rising attendance each year leading to better revenue. |
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Dannielle
(Been Here Awhile)
USA
519 Posts |
Posted - 06/17/2010 : 6:57:15 PM
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| Wellllll, poo. I know a lot about the foreclosure process (it's my job!), but the documents aren't online. :P Anyway, it's a LONG process, but repayment plans usually negate them, but if they skimp on a payment they can be right back in it no questions asked. |
-- keep up to date with the clones @ >> http://cycwords.wordpress.com
-- cyclones coverage on exmainer.com >> http://www.examiner.com/x-59833-Cincinnati-Cyclones-Examiner |
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