I am scared by the article in today's AJC

[Nicholasp27]

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What an advantage it is to have good ownership. Look at the Falcons, missed the playoffs last year and they're already adding impact free-agents for next year. No 5-year plans for them.

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they also aren't rebuilding

[Wretch]

So, the owners...all of them and their attorneys...knew this going in? That in the event, a major event no less, of a sale of Belkin's shares...that he could find a way to cook up an insanely high price for his shares and either:

A) Have the owners live with it...

B) Get awarded a price at the midpoint of that and a fair estimate (which would still make his price more than fair)

or

C) Get awared the right to buyout everyone else wholesale.

Or worse yet...that they didn't know this going in and their attorneys some how missed it? That is insane.

Either way, if Stern has any kind of authority...I'd expect him to slap Belkin in the face just as soon as he is able to. Which is a good question in itself...

If Stern can intervene, when could he?

[DJlaysitup]

Well if it comes down to wrangling...my gut feeling is that it'll get done and the Spirit group (while they may take a financial hit) will win out.

But remember how Belkin challenged the first appraisal within minutes of receiving it? That shows that he knows how to play the game.

[Seano]

The Belkinator.

This creep is becoming our worst nightmare. He has to be aware of how hated he's become in Atlanta. Why in the hell can't he just accept the fact that he's not wanted, give up, and go away? Wouldn't that be the reasonable response?

[TheDude]

i really hate that guy.

[Popeye]

Wtf Belkin wants to do if he does return?

You can't win sh!t in this league if you are way under the cap space like Belkin wants it to be.

Dumbass

[DJlaysitup]

Well you know how it is...nobody (especially rich guys) ever think they are wrong. I would just about bet that Belkin actually thinks he could do a better job with the team than the Spirit group. (that's not to say I do)

Another concern is just how much money the rest of the owners can afford to pay Belkin to get him to go away. We all know Belkin would probably be a skin-flint if he was the sole owner...but we could easily end up in a similar situation if the Sp. group ends up hurting $$-wise after it's all over.

[Johnnybravo4]

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In that article it said that the Spirit team was arguing that Belkin was trying to steal the team by purchasing it for cost. What struck me so forcefully is that the Spirit group was really making an argument that it would be grossly unfair to allow Belkin to do this and were

not arguing that he didn't have a right to purchase the team under the agreement

. That indicates to me that Belkin does have some right under the contract to repurchase the team and it is a matter of whether (1) that right is in effect at this point and (2) if it is in effect whether he would be able to purchase the team so cheaply.

That is frightening either way. You are in trouble in a contract case when you are making an argument based on equity. The Spirit group already saw that the hard way on the issue of whether Belkin had the right to pick the second appraiser.

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I would like to see the briefs, I am going to see if I can access them on my westlaw account.

[AHF]

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...Belkin is now urging that the time has lapsed and he has the right to do this while the Spirit Group is saying that this would be unfair since the delay was due to Belkin's legal wrangling, that they have been trying to fairly reach a buyout, that Belkin can't buy them out at cost, etc.

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I think you've hit the nail on the head there AHF. If the delay is Belkin's doing, the Spirit group would certainly seem to have an arguable point.

What an advantage it is to have good ownership. Look at the Falcons, missed the playoffs last year and they're already adding impact free-agents for next year. No 5-year plans for them.

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Obviously, though, Belkin will argue that the legal wrangling is all the fault of the Spirit Group since he had a right to challenge the first appraisal, he did so and it is only the Spirit Group that tied the matter up in litigation and caused the window to be missed. He will point out that a court has already ruled he had every right to do what he did and that he shouldn't be penalized by baseless challenges to the process like that involved here.

What I don't get is why

(a) they thought a 60 day window would be enough when they couldn't get the team bought originally in anywhere near that time frame and there were no hard feelings; and

(b) why they would ever give him a right to buy them out. Why not just include a financial penalty for failing to get it done in time like charging 8% interest on the money for whatever time past the window that gets included. Why give him the power to essentially nuke this whole franchise under any circumstances?

[AHF]

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In that article it said that the Spirit team was arguing that Belkin was trying to steal the team by purchasing it for cost. What struck me so forcefully is that the Spirit group was really making an argument that it would be grossly unfair to allow Belkin to do this and were

not arguing that he didn't have a right to purchase the team under the agreement

. That indicates to me that Belkin does have some right under the contract to repurchase the team and it is a matter of whether (1) that right is in effect at this point and (2) if it is in effect whether he would be able to purchase the team so cheaply.

That is frightening either way. You are in trouble in a contract case when you are making an argument based on equity. The Spirit group already saw that the hard way on the issue of whether Belkin had the right to pick the second appraiser.

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I would like to see the briefs, I am going to see if I can access them on my westlaw account.

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Please post them if you do. I think they are more likely to be available on PACER. I'll check there.

[AHF]

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In that article it said that the Spirit team was arguing that Belkin was trying to steal the team by purchasing it for cost. What struck me so forcefully is that the Spirit group was really making an argument that it would be grossly unfair to allow Belkin to do this and were

not arguing that he didn't have a right to purchase the team under the agreement

. That indicates to me that Belkin does have some right under the contract to repurchase the team and it is a matter of whether (1) that right is in effect at this point and (2) if it is in effect whether he would be able to purchase the team so cheaply.

That is frightening either way. You are in trouble in a contract case when you are making an argument based on equity. The Spirit group already saw that the hard way on the issue of whether Belkin had the right to pick the second appraiser.

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I would like to see the briefs, I am going to see if I can access them on my westlaw account.

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Please post them if you do. I think they are more likely to be available on PACER. I'll check there.

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A recent status report from the federal case indicates that:

* Belkin has moved for final judgment and that this was opposed by the Spirit Group;

* The Spirit Group has moved to vacate and revise the last order;

* the parties jointly moved to stay the federal litigation until the state court in Maryland has ruled because that will likely dispose of the case.

I can't get anything on the state court filings and there is no detailed discussion of the contract.

[WraithSentinel]

It seem anytime Hawks fans start to worry about something that is nothing. It usually mean it is nothing. Quit worry about something we can't control. Just move on and be a fan of the team.

[Seano]

He's such a persistent little creep. He reminds me of one of those damn zombies that you keep pumping bullets into, every time thinking to yourself "Ok, now this has GOT to be the one that finally finishes him off", but yet it never is. He just keeps right on getting back up and coming after you.

It's like dude, get the fricken message already. No one likes you, no one wants you here, just GO AWAY.

[Weez]

Belkin, "I want my two dollars!"

[AHF]

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Just move on and be a fan of the team.

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Didn't know it had to be one or the other. Thought I was still being a fan of the team.

[Lascar78]

yeah it would be total devastation if Belkin took over. But for now I'm going to not worry about it, and assume that Stern will exert enough power to get this over with asap. Belkin wants to get paid, and probably will be. I'm not going to consider catastrophic consequences until they actually occur

[AHF]

Incidently, Bernie confirmed on 680 this morning that there is a clause in the contract giving Belkin the right to buy the team at cost but said this was still all about finding the right figure to buy Belkin out. I am still scared by this because I consider Belkin to be the equivalent of nuking this franchise when things are starting to really improve.