Preds ownership completes Del Biaggio buyout

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09/02/2010 - Nashville, TN (Sportsbook Betting Lines) - Nashville Predators chairman Tom Cigarran announced on Thursday that the current ownership group has completed the purchase of remaining ownership shares from jailed former investor William "Boots" Del Biaggio and the former Forecheck Investments.

Back in July, the Preds' ownership began the process to strengthen its hold on the franchise, after agreeing to acquire the remaining ownership shares from the disgraced Del Biaggio -- who had owned an 83 percent stake in Forecheck.

According to the terms of the agreement at that time, the current ownership group was to purchase Del Biaggio's $25 million ownership stake for $15.2 million, and also agreed to withdraw its damage claims against Del Biaggio's estate.

Approval of the transaction by the National Hockey League and the Metro Nashville Sports Authority means that the current owners, which include Cigarran, now hold an overwhelming majority of shares in the club.

"This is a significant step for the Predators franchise on several levels," Cigarran said. "First and foremost, it strengthens our franchise's financial position and eliminates a significant future liability. In doing so, it closes the book on a distraction and allows the Predators and fans to move forward, focusing on what matters most -- putting the best possible team on the ice and creating the best possible in-arena atmosphere and entertainment experience.

"Also, while the franchise was initially known as Nashville's team because it was created here in the Music City, this transaction reinforces that theme as more than 95 percent of the ownership shares are now held by local residents."

Del Biaggio was sentenced to eight years in federal prison last September after being convicted of bilking banks as well as the owners of two NHL franchises out of more than $100 million dollars and forging documents to acquire the loans to purchase a controlling interest in the Predators.

The Predators will begin their 12th NHL season in the re-christened Bridgestone Arena on October 9.

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Problem with Bears?

Chicago, IL - New Chicago Bears quarterback Jay Cutler and star linebacker Brian Urlacher shot down reports of a rift, saying they're simply not true.

"There's nothing between us," Cutler said Thursday, when he reported to training camp. "I just want to put that to rest. There never has been anything between us."

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Urlacher added: "I never said what I was quoted as saying and that's it. I have a lot of respect for Jay. I think Jay knows that."
Former Bears receiver Bobby Wade caused a stir when he told Minneapolis radio station KFAN-AM that Urlacher used a profanity while questioning Cutler's manhood during a conversation in Las Vegas last weekend. Wade, who now plays for the Vikings, said Urlacher used a profane version of the word "wimp" during the interview that had to be edited out.
go radio station WSCR-AM also reported that Urlacher had to be restrained from confronting Cutler during organized team activities.
"I wouldn't go face-to-face with Brian, anyway," Cutler said. "No, that's never happened. I've hung out with Brian away from the facility numerous times and we've always gotten along."
Urlacher, noting he was limited by a groin injury, denied the reports in an interview with the Chicago Tribune and did it again when he reported to camp.
"I didn't practice this summer, so I don't know how I would fight the guy if I didn't practice," Urlacher said. "We have no problems. I'm excited about football starting. I'm excited to have him as our quarterback."
Why would Wade say that?
"I don't know," Urlacher said. "Maybe he's jealous because we have a good quarterback now."
Cutler said the first he heard of any friction was when he got a call from Urlacher to clear the air. Urlacher, however, said he had already taken several calls from teammates wondering if the reports were true when Cutler phoned.
"He called me and I said, What's up (expletive), what are you doing?'" a grinning Urlacher said, uttering the same word he allegedly used with Wade. "It's so dumb to me that this even got to this point, but it did and then here we are."
better place after going 9-7 and missing the playoffs for the second straight year. They have a franchise quarterback for the first time in decades after acquiring Cutler in an offseason trade with Denver. But there are questions about his attitude following a fallout with Broncos management and new coach Josh McDaniels.
His critics include former Bears coach Mike Ditka and former Indianapolis and Tampa Bay coach Tony Dungy, one of Smith's mentors. Smith, however, said Cutler has been a model teammate so far while denying any animosity with Urlacher.
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In some ways, Cutler is getting a second chance in Chicago, an opportunity to repair his reputation.
Smith said another quarterback - Michael Vick - deserves one, although he doesn't see it happening with the Bears, who lack an experienced backup. The former Atlanta Falcons star, who served a 23-month sentence for running a dogfighting ring, said Thursday he is getting close to signing with a pro football team.
"A second chance, like everyone in society who has paid their debt to society," Smith said. "He deserves a second chance. As far as we're concerned, we like this team that we have right now."
Particularly the new quarterback.
"Me and Brian have been on a good relationship since I've been here, and I expect it to continue that way," Cutler said.

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