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Thrashers update: Local interest exposed, True North seeks Winnipeg’s help with debt

May 17, 2011, 7:32 PM EDT

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The latest round of news revolving around the potential relocation of the Atlanta Thrashers reveals some not-so-great reports for both sides. Unfortunately for Thrashers fans, the outlook continues to be pretty grim on their end.

Many Thrashers fans attached some hope to a potential new local owner nicknamed “The Balkan.” That previously shadowy figure was revealed to be Detroit-arena venture capitalist JB Smith. Smith is reportedly interested in a package deal that would include the Thrashers, Atlanta Hawks and Phillips Arena. Unfortunately, various reports indicate that he might not have the cash to swing such a deal.

Beyond that, there is the rather thorny issue that the Atlanta Spirit group allowed San Diego Padres owner John Moores an exclusive window to buy the Hawks and Phillips Arena without the Thrashers. That same report indicates that Moores and the Atlanta Spirit still have a way to go to make a deal in that area, if it even gets done.

Based on recent evidence, it sounds like it would be awfully difficult to find a viable owner to keep the Thrashers in Atlanta, at least in time to satisfy the Atlanta Spirit group. Keep in mind this situation is still far from decided, though.

The last bit of news is that True North is asking for some government help to free up money to buy the Thrashers. True North hopes to free up debt from running the MTS Centre, the building that would house the relocated and re-named Thrashers. The difference is that it looks like local government will cooperate with True North, according to the Winnipeg Free Press. That stands in contrast to Atlanta’s perceived indifference toward keeping the Thrashers from moving.

Here’s the lowdown on True North’s negotiations with the city of Winnipeg, via the Winnipeg Free Press.

True North, which owns the MTS Centre, is looking to the province to help it manage the debt load it carries on the downtown arena in order to free up money to help pay for the relocation of the NHL team to Winnipeg.

A source said that request from True North is being studied by the province and in all likelihood will be accepted. The value of the request, or if it involves a low or no-interest loan, is not known.

“The building is a public asset,” said a source explaining why the province is interested in an arrangement that sees aid go to the MTS Centre. “It will never move.”

Keeping with previous patterns, signs point to the Thrashers moving to Winnipeg, but there are still a lot of moving parts involved right now. As always, we’ll keep you updated, as there could be quite a few twists and turns left.

  1. Ryan Karhut - May 17, 2011 at 7:51 PM

    Another Celebration Gone Wrong….Kind Of: http://t.co/shYpqnU

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