Great news guys ASG is going back to court

[WraithSentinel]

http://www.ajc.com/sports/lawsuit-thrashers-owners-have-811606.html

:thumbsupsmileyanim: :shake_puter: :help wanted3: :white flag: :temperature:

[coachx]

I can't blame them. It sounds like they have a good case. If you pay a law firm for their professional service.....to draw up a contract. Then that contract is deemed too vague and unenforceable by a judge and causes a 2 year court battle to turn into a 6 year court battle it shows negligence to me. I bet the ASG wins but doubt they will recoup any of the "loss in value" the Thrashers incurred from 2005 - 2011 simply b/c it is not the law firms fault the economy went to hell.

I bet they get the court fees from the prolonged case with Belkin, and a little more but nothing close to the $200 mill they want. They may get $20 to $40 mill plus the legal fees for this new case (if they win).

[frosgrim]

http://www.ajc.com/sports/lawsuit-thrashers-owners-have-811606.html

:thumbsupsmileyanim: :shake_puter: :help wanted3: :white flag: :temperature:

Well, if I could follow that rambling piece, it sounds the ASG has a problem with the law firm that set up the initial contracts for the teams and the Belkin buy-out. It also sounds like the ASG wanted to sell the Thrashers since 2005.

I hate the ASG.

[niremetal]

http://www.ajc.com/sports/lawsuit-thrashers-owners-have-811606.html

:thumbsupsmileyanim: :shake_puter: :help wanted3: :white flag: :temperature:

The contract was poorly written to a mind-boggling degree. Whether it amounts to legal malpractice, well that's a tough sell. Law firms generally try to settle these types of suits quickly, though, if there's any chance that a jury would find against them because losing a high-profile legal malpractice suit is humiliating.

The good news is that the firm they hired for the case - DSCK - is a contingent fee firm, which is the route most companies go when they file a legal malpractice suit. Contingent fees mean that ASG won't have to pay the lawyers anything unless they win or get money in a settlement. So this shouldn't affect ASG's cash-on-hand or book value.

[Sothron]

I am furious as a Thrashers fan that these lying snakes have tried for six YEARS to sell the team and haven't been able to do so only because of a contract. I remember arguing with some people last year about how cheap the ASG were, this seals that argument completely.

God I wish Blank could buy all the Atlanta sports teams.

[spotatl]

God I wish Blank could buy all the Atlanta sports teams.

I'm pretty sure the NBA doesn't allow its owners to own other sports teams. Hence Stan Kroenke having to sell the Nuggets to his son.

[niremetal]

I am furious as a Thrashers fan that these lying snakes have tried for six YEARS to sell the team and haven't been able to do so only because of a contract.

The way I see it, the complaint reveals dishonesty on ASG’s part one way or another, because one of the following two things must be true:

1) They were lying before when they said the Thrashers weren’t for sale; or

2) ASG actually never did try to sell the Thrashers…in which case the complaint is dishonest.

My guess is that it’s option #2: They will try to square the complaint with their past statements by saying something like “the uncertainty from the lawsuit kept us from even trying to sell the team because 1) we knew we wouldn’t be able to get a good price; 2) there would be concerns about our right to dispose of the team; etc.” But the complaint certainly implies that they were actively trying to sell the team, which would be dishonest if they never were. Either way, they BSed.

Frankly, since I work for a court and get more than a bit annoyed when people file complaints filled with BS, I hope it's option 1. I'm personally much more ok with people telling lies to the public (and they are the types of lies expected of businessmen - if you're trying to sell a team, you're stupid if you look overeager to sell it) than I am with people lying to a court.

I remember arguing with some people last year about how cheap the ASG were, this seals that argument completely.

Uh...how? That's a rhetorical question, btw. I don't see how an argument over something as subjective as that can ever be "sealed."

I'm pretty sure the NBA doesn't allow its owners to own other sports teams. Hence Stan Kroenke having to sell the Nuggets to his son.

I think you meant NFL, not NBA.

Edited January 21, 2011 by niremetal

[spotatl]

thanks niremetal- I just knew that Kroenke had to sell. Didn't know that it was because the NFL made him do it. That makes far more sense.

[macdaddy]

I went to the Thrashers game last night and it was just sad how few fans there were there. And it was a big matchup. Hawks attendence looks great in comparison. Someone could do something with these teams and generate fan interest if they tried a little harder. I realize that they have been dealing with a lot and are hemorraging (sp?) money. It just seems none of these guys know how to be a high profile owner.

I"m hoping this does get settled quickly and ASG gets some much needed cash.

[DeacKillsaDevil]

I'm pretty sure the NBA doesn't allow its owners to own other sports teams. Hence Stan Kroenke having to sell the Nuggets to his son.

Didn't Cuban try to buy the Cubs?