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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.

FOR FULL LETTER, CLICK HERE.


Quote of the Day

We're buyers. We're committed to winning. That's what [owner Vinnie Viola] has said all along and what we've said all along. We want to win. We want to win a championship. We're putting the pieces together, step by step, and we're hopeful that Jaromir can lead these young guys to the promised land. It's a win-win for us.

— Panthers GM Dale Tallon on Jaromir Jagr, who he traded for from the Devils on Thursday
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