Preds ownership completes Del Biaggio buyout

Hockey Betting Lines

09/02/2010 - Nashville, TN (Sportsbook Betting Lines) - Nashville Predators chairman Tom Cigarran announced on Thursday that the current ownership group has completed the purchase of remaining ownership shares from jailed former investor William "Boots" Del Biaggio and the former Forecheck Investments.

Back in July, the Preds' ownership began the process to strengthen its hold on the franchise, after agreeing to acquire the remaining ownership shares from the disgraced Del Biaggio -- who had owned an 83 percent stake in Forecheck.

According to the terms of the agreement at that time, the current ownership group was to purchase Del Biaggio's $25 million ownership stake for $15.2 million, and also agreed to withdraw its damage claims against Del Biaggio's estate.

Approval of the transaction by the National Hockey League and the Metro Nashville Sports Authority means that the current owners, which include Cigarran, now hold an overwhelming majority of shares in the club.

"This is a significant step for the Predators franchise on several levels," Cigarran said. "First and foremost, it strengthens our franchise's financial position and eliminates a significant future liability. In doing so, it closes the book on a distraction and allows the Predators and fans to move forward, focusing on what matters most -- putting the best possible team on the ice and creating the best possible in-arena atmosphere and entertainment experience.

"Also, while the franchise was initially known as Nashville's team because it was created here in the Music City, this transaction reinforces that theme as more than 95 percent of the ownership shares are now held by local residents."

Del Biaggio was sentenced to eight years in federal prison last September after being convicted of bilking banks as well as the owners of two NHL franchises out of more than $100 million dollars and forging documents to acquire the loans to purchase a controlling interest in the Predators.

The Predators will begin their 12th NHL season in the re-christened Bridgestone Arena on October 9.

Wwgbrowser Hockey Betting News

<< Iowa to extend Ferentz through 2020
Iowa City, IA (Sportsbook Betting Lines) - Iowa announced Thursday it plans to extend the contract of head football coach Kirk Ferentz through the 2020 season. School officials expect Ferentz to sign the contract Friday. The Hawkeyes begin the

<< Marlins C Baker to have elbow surgery
Miami, FL (Sportsbook Betting Lines) - Florida Marlins catcher John Baker is headed for Tommy John surgery on Friday. The Miami Herald reported Thursday that Baker, who has not played since May 12, will undergo a procedure to repair a damaged

<< Portugal coach Queiroz suspended for 6 months
Lisbon, Portugal (Sportsbook Betting Lines) - Portugal coach Carlos Queiroz was handed a six-month suspension Thursday by the country's anti-doping agency, ruling that he disrupted anti-doping tests ahead of the World Cup. Queiroz was previously suspe

<< Iowa gives Ferentz extension through 2020
IOWA CITY, Iowa (AP) -Iowa says it is extending coach Kirk Ferentz's contract through 2020.Ferentz's current deal runs through 2015 and pays him roughly $2.84 million per season. Ferentz's new deal will total nearly $3.7 million a year.School offici

<< Braves activate Glaus
Atlanta, GA (Sportsbook Betting Lines) - The Atlanta Braves activated first baseman Troy Glaus from the 15-day disabled list prior to Thursday's game against the Mets. Glaus had been on the DL since August 18 with inflammation in his left knee

Avalanche sign Stewart for two years >>
Denver, CO (Sportsbook Betting Lines) - The Colorado Avalanche signed restricted free- agent forward Chris Stewart to a two-year deal on Thursday. The 22-year-old led the Avs with 28 goals and ranked second in points with 64 over 77 regular-season

Steelers' Leftwich hurts left knee >>
PITTSBURGH (AP) - Steelers quarterback Byron Leftwich, expected to start during Ben Roethlisberger's suspension, has injured his left knee during the first half of an exhibition game against Carolina.Leftwich completed an 18-yard pass to rookie Emma

Dunlap, Sisk share Mylan Classic lead >>
Canonsburg, PA (Sportsbook Betting Lines) - Scott Dunlap and Geoffrey Sisk both carded rounds of six-under 65 on Thursday to share the 18-hole lead at the inaugural Mylan Classic. Dunlap and Sisk collected eight birdies and two bogeys apiece on the S

Santana leaves game against Atlanta >>
Atlanta, GA (Sportsbook Betting Lines) - New York Mets pitcher Johan Santana left his start against the Atlanta Braves after five innings on Thursday. Santana had limited the Braves to just one run and three hits with a walk and three strikeouts.

NCAA rules Alabama DE Dareus ineligible for two games >>
Tuscaloosa, AL (Sportsbook Betting Lines) - The NCAA has declared Alabama defensive end Marcell Dareus ineligible for two games due to his dealings with sports agents. In its ruling, the NCAA said Dareus must repay benefits to become eligi

Huskers' Lucky hospitalized for undisclosed reason

LINCOLN, Neb. -- Nebraska running back Marlon Lucky was hospitalized Monday for undisclosed reasons after Lincoln police responded to a call at his residence.

The Nebraska athletic department said in a release Monday that Lucky was admitted Sunday night.

MySportsbook.com has the Cornhuskers listed at +2500 to win the BCS National Championship odds.

A nursing supervisor at the hospital said all questions about Lucky were being referred to the athletic department. The athletic department said there would be no further comment from the department or Lucky's family.

A Lincoln Police spokesman said officers responded to a call at Lucky's residence 11:30 p.m. Sunday. The spokesman said he didn't know Lucky's condition at the time he was taken to the hospital.

Lucky, from North Hollywood, Calif., started six games last season as a sophomore and was the team's second-leading rusher, with 728 yards and six touchdowns. He also caught 32 passes for 383 yards. He averaged 19.1 yards on eight kickoff returns.

To visit this online sportsbook got to MySportsbook.com - this sportsbook accepts credit cards.