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Thursday, July 17, 2008

Report: Del Biaggio had special permission to avoid review

From Brad Schrade of the Tennessean:

A potential investor in the Nashville Predators says troubled financier William J. "Boots" Del Biaggio III told him the NHL allowed Del Biaggio to bypass some of the league's strict financial background checks for prospective owners.Doug Bergeron, a California-based Canadian investor and entrepreneur and president of DGB Investments, was among those to whom Del Biaggio tried to market a share of the Predators.

Bergeron said Del Biaggio told him in December that National Hockey League Commissioner Gary Bettman's office had given special permission for Del Biaggio to buy a share of the team without being subjected to all the scrutiny the league usually gives to prospective owners. Del Biaggio told him the commissioner's office did not require him to show audited financial statements before it approved him.

Read the entire story here.

This article is worth the long read. Schrade has done a terrific job of breaking news on this story for the Tennessean.

Ballhype: hype it up!

1 comment:

Steve Werier said...

This is really, really, really bad.
Hard to come up with a reason why Bettman would grant such a waiver aside from the obvious: they were DESPERATE for anyone to invest in this club.

Signed,

Peter Pocklington and Marge Schott