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Thrashers update regarding franchise sale

Tuesday, 05.31.2011 / 12:27 PM / News
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Thrashers update regarding franchise sale
Courtesy: AtlantaThrashers.com

Earlier today, we, along with our partners, signed an asset purchase agreement to sell the Atlanta Thrashers to True North Sports and Entertainment. If ratified by the NHL, Commissioner Bettman and the league's Board of Governors, this will result in the relocation of the Atlanta Thrashers to Winnipeg, Canada beginning with the 2011-2012 season.

It's extremely disappointing to all of us that it became necessary after all other options were exhausted. We want to express my gratitude to you, the fans, for the years of dedication you have offered to the Atlanta Thrashers.

As many of you know, for some time we have been seeking a buyer for the team or a partner willing to join with us in continuing to fund the team. We hired an investment banking firm to seek out potential investors with the expressed goal of finding someone who would keep the team here in Atlanta. In recent months, we openly indicated a growing urgency to secure assistance in off-setting our operating losses in hopes that our public plea would produce investors who, to that point, had eluded us.

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Quote of the Day

Just the feel for the direction they were headed and what they're trying to do, it just felt that this is a really good thing for this organization. They've got the pieces. We can put something together and go on a run or two and be together for a while, and I'm really excited about that opportunity. The team we have here has an opportunity to win, and that's the most attractive thing.

— Washington defenseman Matt Niskanen on why he decided to sign with the Capitals