Sens Bankrupt!

It has been reported by TSN that the Ottawa Senators will be filling for Bankruptcy prtection, which basically means they will be given 30 days to come up with a long term business plan to keep the team viable. However at any time within that 30 day window a portion of the team can be bought if a judge deems that a sale is good for the creditors and the company (team in this case). It is however important to understand that filing for bankruptcy does not negate contracts which are currently enforced with the union (such as the NHLPA). Also it is only the Senators filing, not the Corel Centre (at this point at least) therefore there are more options to move the team to say Portland (a rumored destination).

It is too bad to see them possibly going under, I always enjoyed their rivalry with the Leafs (being a Leaf fan) and I hate to see another Canadian team go under.


28 Responses to Sens Bankrupt!

  1. Robert says:

    If they go to an american city, another nail in the coffin of the NHL.

  2. OldTimeHockey_28 says:

    From what I’ve read. The team has 2 weeks to pay the players what is owed under contract. After that by union rules, the players would be released as unrestricted free agents. Although this is unlikely to happen or for that matter be enforced, It would be pretty wild to see a bidding war on players like Alfredsson and such in the middle of the season.

    But it is going to be a sad day if the Sens leave Ottawa. Another canadian team down the tubes. Who’s next? Calgary? Edmonton?

  3. Freeze says:

    Does this mean the Senators WON’T be trying to acquire Bobby Holik, Pavel Bure and Eric Lindros??? hehehe

  4. infoengine says:

    does this mean that they will have to tread some of there better players for crappy players just to stay in it?

    i would love to see bonk in a Kings uniform.

  5. wayne2 says:

    fuck off idiot

  6. wayne2 says:

    Not that i want that to happen but trust me buddy,you much rather have Havlat or Hossa.

  7. pantherboy says:

    Well Ottawa was sure around a long time. What is it now, 13 years and they are already done?

  8. pantherboy says:

    And why should we do that?

  9. Flyers_01 says:

    Here’s the Rangers chance to make the playoffs. Buy the Sens, a team that’s almost a lock to make the playoffs, then move it to NY and move the current Rangers franchise to Ottawa. Rename both franchises and the NYR will make the playoffs. I mean money is no object in NY right and it would take at least an offseason for Slats to destroy the team so would be a win-win.

  10. cwhockey says:

    It would be a shame if Ottawa does come south of the border. If they do get moved to Portland, the buyer would be Paul Allen, the no.2 man at Microsoft. What might hurt Canadian fans more is that Allen has enough money to run a NHL team from either side of the border.

  11. Robert says:

    nothing against american cities but the NHL has killed so many rivalries when moving teams out of here. Quebec vs Montreal, Quebec vs Toronto, Winnipeg, vs Calgary Winnipeg vs Edmonton, Winnipeg vs Oilers, no Leafs vs Ottawa. Being cut down to 5 canadian teams will hurt greatly. Sens should not be moved period, but if they are an American city would anger many canadian fans.

  12. devfanman4 says:

    haha…that’s too funny. This does suck though…I’m with all the canadians on this site. Hockey belongs in Canada. Screw Portland…you think a team is going to do better there? Maybe better than they’re doing in Ottawa, but the Sens belong in Ottawa. The Devils have a great rivalry with them too, it’d be a shame to have them move to the west and see them play maybe twice a year. If only the Sens had a player like Mario Lemieux who would buy out the team and keep them there…As much as I don’t like him, he’s well respected in my book and he has done alot for hockey. (yes I said I don’t like Lemieux…start the bashing now)

  13. Tradedude says:

    i say ottawa has 2 do something, like dump most of their high salary players regardless of how good they are, and start using that money to pulll out of bankruptcy.

  14. amok says:

    While I agree with you that it would be a shame for Ottawa to move south, I don’t think that Paul Allen (or anyone else for that matter) can be blamed for wanting to piss away money trying to keep a financially unviable franchise going in Canada.

  15. mikster says:

    I will be in pure disgust to see Ottawa go to a US city, purely disgusted.

  16. Overtime says:

    Well that’s not a very nice thing to say.

  17. amok says:

    Not to kick the Sens when they’re down, but these two quotes from Vancouver TV personality Squire Barnes were just too good to not pass on. These were in advance of the Vancouver vs. Ottawa game.

    “Maybe the fans should bring a non-perishable food item to support the team”

    “Former Canuck Peter Schaefer left the Canucks because he wasn’t paid enough and now he isn’t getting paid at all!”

  18. Gothamcityblueshirts says:

    Hey its better that they move to Portland then have the team shut down.

  19. wayne2 says:

    Then Suire Barnes is an idiot an can go to hell.

  20. Sensaholic says:

    Apparently there is now interest in the Corel Center and a strategic alliance with Rod Brydon and the Sens to keep the team here. Interest comes from the Owner of the Pepsi Center and the Avs, Kroenke Sports Enterprises who are looking at the Corel Center. Would be nice to have some cash behind the whole deal and someone to actually run the Corel Center the way it should be run.

  21. amok says:

    Have a sense of humour. Or maybe you just need to have known about the Schaefer/Burke standoff to get the joke about him.

  22. aaron says:

    Hehe, you Canadians have no sense of humor. Unless you’re a Canadian, amok; I think you are. You have one; the other guy doesn’t.

    As for me, those quotes were frickin’ hilarious.

  23. aaron says:

    Sorry to be the evil American capitalist here, but if they can’t support the franchise, which they obviously can’t, then they shouldn’t have a team. Ottawa’s just an expansion team anyway; its not like a significant piece of history’s being destroyed here by moving it.

  24. Sensaholic says:

    This is not an issue of supporting the franchise. This is an issue of a pre existing debt load for the Corel Center and the failure or one of its major creditors, Covanta Energy (an American company btw) has caused this problem. Dumping salaries to pinch and save or selling more tickets is not going to fix this problem. Filing for bankruptcy and restructuring the debt load is the only way to do this. Ottawa is the 3rd team in the league to do this and most certainly wont be the last. They will remain in Ottawa.

  25. Sensaholic says:

    ……and has a long history of NHL hockey dating back to the early 1900’s.

  26. infoengine says:

    havlat and hossa are jumping a little to high, bonk is more the kings size

  27. infoengine says:

    good point

  28. hatterson says:

    It is now official. The Sens majority owner filed for bankruptcy protection yesterday. Hopefully the Sens (although I hate them with a passion) will come out of this one.

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