Are the Nashville Predators Moving?

December 11th, 2009 by Mark Willoughby Leave a reply »
The Tennessean's Nate Rau penned an article titled "Sports Authority Members Worry that the Predators Could Leave Town" and cited several factors that could precipitate that action.

Cited in the article as concerns were the bankruptcy of Predator lender CIT Financial; the bankruptcy of former part owner William "Boots" Del Biaggio; and a tax lien filed against David Freeman, the majority owner.

There is no doubt that each of these issues are problematic for the Predators in varying degrees, but how much so?

It would have been instructive for the reporter in the article to dig a little deeper into these issues to discover how much of a problem they could become. Since he didn't, I will attempt to do so.

CIT Financial was a major lender in the sports world, providing financing for various sports venues and team needs in all the major sports. CIT has filed for a Chapter 11 bankruptcy reorganization.

Simply put, this means that CIT is still in business, but is attempting to restructure its debt and find new sources of funding for continued business operations.

As regards the loan to the Predators, or any other enti ...

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