List of professional sports owners considered the worst

Major League Baseball
Peter Angelos (Baltimore Orioles)
In 1993, Angelos led a group of investors which included Tom Clancy and Steve Geppi that purchased Baltimore Orioles for $173 million from Eli Jacobs. His official titles with the club are Chairman of the Board and Chief Executive Officer.
In May 2009, a Sports Illustrated article reviewing owners of Major League Baseball franchises rated Angelos as one of the five worst owners in the United States. The article notes that the methodology "was not scientific" and "weighing heavily in the decision was the team's success or failure on the field."
Two weeks later, Brady Anderson, a member of the Baltimore Orioles Hall of Fame, responded in an op-ed to the Baltimore Sun, writing that Angelos deserves to be on a list of the "best owners in baseball."
"Perhaps one day another article will be written attempting to name the best owners in baseball and a little more research will be put forth and Peter Angelos will be on that list, where he rightfully belongs." The harsh move to avoid criticism infuriated many within the press and led to a backlash of articles that extended far beyond the Kansas City sports community
Tom Hicks (Texas Rangers)
In June 1998, Hicks became the Chairman and Owner of the Texas Rangers Baseball Club of the Major League Baseball’s American League. Under Hicks ownership, the Rangers won the American League West Division crown in 1998 and 1999, but failed to deliver a World Series. After retirement from Hicks Muse Tate and Furst, and with the Rangers finished in last place in its division in 2003, Hicks promised to rebuild the team, shipping Alex Rodriguez ($252 million over 10 years) to the New York Yankees. Hicks serves on the Board of Directors of MLB Advanced Media, the internet-based subsidiary of Major League Baseball.
On January 23 it was announced Hicks had agreed to sell the Rangers to a group led by Chuck Greenberg and Nolan Ryan. Hicks will be a minority share holder in the new ownership group.
Prior to bids being placed by potential buyers, Hicks told the media the Rangers where operating under normal business with no interference from MLB. "We were disappointed that the family insisted on $6 million. The Texas Rangers were not willing to do that. It had nothing to do with MLB restrictions. There is a clear misimpression we didn't sign Matt Purke because MLB wouldn't let us. That's not true. We didn't because of Tom Hicks, Nolan Ryan and Jon Daniels. We were not willing to go to $6 million." After his group had completed the purchase agreement, Nolan Ryan told the media the Rangers were not able to offer the 1st round pick the 6 million dollar signing bonus both parties had agreed to verbally after the draft because MLB, who were strictly overseeing the Rangers budget by this time, wouldn't approve the amount needed to sign Purke.
After the announcement of the pending sale by Hicks Sports Group, several additional hurdles have accord which would have to be remedied before the sale of the team can be finalized. Several of the lenders, who are owed over $500 million, have vocally objected to the deal accusing Hicks of rejecting a higher offer by Jim Crane and have stated they would not sign off on the deal. Also, Hicks has been sued by 3 different parties over the land adjacent to the stadium that was sold in a separate transaction as a part of the purchase by Greenberg and Ryan.
Ted Lerner (Washington Nationals)
The Washington Nationals franchise was formerly owned and operated by Major League Baseball from February 15, 2002 until the official transfer of ownership on July 21, 2006. Lerner's wealth comes from his real estate business, Lerner Enterprises, which is wholly owned and operated by the Lerner family. Lerner Enterprises is headed by Lerner and the principals of the company are his son Mark D. Lerner and his sons-in-law Robert K. Tanenbaum and Edward L. Cohen. They and their families are also principal owners in the Nationals.
When Ted Lerner took over the club in mid-, he hired Stan Kasten as team president. Kasten was widely known as the architect of the Atlanta Braves before and during their run of 14 division titles. Kasten was also the general manager or president of many other Atlanta-area sports teams, such as the Atlanta Thrashers. "The Plan," as it became known, was a long-range rebuilding and restructuring of the team from the ground up. This plan included investing in the farm system and draft picks, and having a suitable team to go along with their new stadium.
Jeffrey Loria (Florida Marlins)
In 2002, as part of an orchestrated move with Bud Selig and then-Marlins owner John W. Henry, Loria sold the Expos to "Expos Baseball, LP," a partnership of the other 29 major league clubs, for $120 million. In effect, the Expos were sold to the commissioner's office. Henry then sold the Marlins to Loria for $158.5 million, including a $38.5 million no-interest loan from MLB. The deal was approved by the other owners before Loria and Henry even signed a contract, and paved the way for Henry to buy the Boston Red Sox. Loria moved the Expos' entire front office and on-field staff to Florida. MLB's plans to contract the Expos and Minnesota Twins failed, though, as the Twins were compelled through legal action to fulfill the terms of their lease at the Metrodome. Loria's partners in the Expos ownership consortium filed a Racketeer Influenced and Corrupt Organizations Act (RICO) lawsuit against Loria and Major League Baseball, but it eventually went to arbitration, with the arbitration panel finding in favor of Loria. The Expos were ultimately transferred to Washington, D.C. as the Nationals.
In 2003, the Marlins won their second World Series. Loria designed the 3 1/2 ounce championship rings that contain 228 white diamonds, 13 rubies and one teal diamond.
Today the current value for the Florida Marlins would be worth around $277 million. As of May 12, 2009, the Marlins are 569-564 under Loria.
National Basketball Association
Chris Cohan (Golden State Warriors)
In 1993-94, with first-round draft pick and Rookie of the Year Chris Webber playing alongside Latrell Sprewell, the Warriors made the playoffs. The season after that, however, saw a rift form between Webber, Sprewell and head coach Don Nelson. All three soon left the team, and the organization went into a tailspin. 1994-95 was the first season under current team owner Chris Cohan. Under Cohan's ownership, the Warriors set a record drought of missing out on the postseason (for 12 straight years) until 2007.
Garry St. Jean became the new Warriors GM in July 1997; he and Dave Twardzik received much of the blame for the Warriors' struggles following the start of Chris Cohan's tenure, including Cohan himself. St. Jean brought in several players, such as Terry Cummings, John Starks, and Mookie Blaylock, who were well past their primes. Twardzik drafted several flops, such as Todd Fuller (while Kobe Bryant was still available) and Steve Logan (who never played an NBA game). In the following draft, the team selected Adonal Foyle while Tracy McGrady was still available. St. Jean did, however, draft the future 2-time NBA slam dunk champion Jason Richardson (from Michigan State), who would become a key player on the team until the end of the 2006-07 season.
For a few years, with rising stars Jason Richardson, Antawn Jamison and guard Gilbert Arenas leading the team, the Warriors seemed like a team on the rise. In the end the young Warriors just did not have enough in the ultra-competitive Western Conference. After the 2002-03 season, Garry St. Jean's earlier mistakes of committing money to players like Danny Fortson, Adonal Foyle and Erick Dampier were painfully felt by Warriors fans when the team was unable to re-sign up-and-coming star Gilbert Arenas, despite Arenas's desire to stay in the Bay Area.
James Dolan (New York Knicks)
Since the 2000-2001 NBA season, the franchise has currently not posted a winning season. Dolan has come under fire from many Knicks' fans for the Knicks' run of consecutive losing seasons. Numerous media and informal fan polls, including a recent Sports Illustrated poll have ranked Dolan the worst owner in the NBA. In 2007, NBA Commissioner David Stern criticized Dolan's management of the Knicks, saying "they're not a model of intelligent management." One widely criticized decision was to give shooting guard Allan Houston a 6-year, $100 million maximum contract in 2001, when no other team had offered Houston more than $75 million. Houston retired due to injury after just four seasons and over $40 million remaining on his contract.
In 2003, Dolan hired Isiah Thomas as Team President of Basketball Operations and General Manager to replace embattled executive Scott Layden. Thomas made aggressive moves to re-tool and upgrade the Knicks roster through trades, the NBA Draft, and free agency. Despite the talent Thomas imported, the team underperformed and Thomas was mired in turmoil; Dolan subsequently received the ire of the New York media and Knicks' fans for his commitment to Thomas.
After the 2004-2005 season, the Knicks signed head coach Larry Brown to a 5 year, $50 million contract. After just one (losing) season, Brown was fired and the team bought-out Brown's contract for $18 million. Brown walked away with a total of $28 million for coaching the Knicks for just one year.
After firing Larry Brown, Isiah Thomas assumed duties as head coach of the Knicks. During a staged interview on MSG Network, which has marked the last time Dolan answered questions from any media, Dolan gave Thomas an ultimatum to show "evident progress" or potentially be fired. In the latter half of the 2006-2007 season, with the Knicks within reach of a playoff spot Dolan signed Thomas to a multi-year contract extension. The team subsequently fell out of contention and Dolan has received further criticism for this move. A mere season later, Dolan stripped Thomas of his front office duties, having taken the Knicks to the playoffs just once during his tenure. New team President Donnie Walsh removed Thomas as head coach upon the conclusion of the season.
Other coaches that also had short Knicks tenures include Don Chaney (2001-2003) and Lenny Wilkens (2003-2005). Like Thomas and Brown, they also remained on the Knicks' payroll following their departure from the bench due to their receiving multi-year contracts (and in Chaney's case 2 separate contract extensions).
Michael Heisley (Memphis Grizzlies)
He orchestrated the move of the team from Vancouver in 2001, after promising to keep the franchise in Vancouver when he purchased it in 2000. He agreed in 2006 to sell his 70% controlling stake in the Grizzlies to a consortium including Christian Laettner and Brian Davis, but the group missed a deadline for the purchase and Heisley found no other bidder willing to meet the team's $300M asking price.
Robert Johnson (Charlotte Bobcats)
He and Michael Jordan led the group that acquired the Charlotte Bobcats NBA expansion franchise, which began play in the fall of 2004.
The front office was a key issue for the Bobcats during the 2007 offseason. Rod Higgins was hired as general manager, assuming the same role he filled with the Golden State Warriors. Phil Ford was added to the coaching staff over the summer, and another position was filled when Buzz Peterson was hired from Coastal Carolina University, where he served as head basketball coach, to become director of player personnel.
Brandan Wright was selected with the eighth pick by the Bobcats in the 2007 NBA Draft. He was subsequently traded to Golden State in a deal that included Jason Richardson being sent to Charlotte. Gerald Wallace, the team's leading scorer for the 2006-07 season, was resigned to a reported six-year contract. Unfortunately, the Bobcats were unable to capitalize on offseason moves, finishing the 2007-08 season with a disappointing 32-50 record. The team, which felt confident the season would end with its first playoff berth, struggled amid rumors of players clashing with the coach. Only lasting a year, in which he struggled with personnel decisions, Sam Vincent was fired as head coach on April 26, 2008.
Donald Sterling (Los Angeles Clippers)
Sterling and Los Angeles Lakers majority owner Jerry Buss were indirectly responsible for each owning their respective NBA franchises. The first instance came in 1979, in which Buss used the money he made from selling a portion of his apartment buildings to Sterling (worth $2.7 million), which covered the remaining balance in purchasing the Lakers, the Kings hockey team, and the Los Angeles Forum from Jack Kent Cooke for $67 million. Two years later, Buss suggested to Sterling that he could purchase his own NBA franchise, and Sterling bought the struggling San Diego Clippers for $12.5 million. Unlike Buss' instant success with the Lakers (including winning an NBA championship in his first season as owner, 1979-80), Sterling and his Clippers struggled through many lackluster seasons, and did not have their first winning season until the 1991-92 season, eleven years into his ownership. Sterling has been widely criticized for his frugal operation of the Clippers, due in part to a consistent history of losing seasons. With the Clippers' move into Staples Center in the 1999-2000 NBA season, the team began to build a contending team, winning 47 games in the 2005-06 season. This was a record for the most victories in a single season since the franchise moved to California. The overall franchise record is 49 wins, accomplished by the 1974-75 Buffalo Braves.
National Football League
Mike Brown (Cincinnati Bengals)
Under Mike Brown's ownership (1991-present), the Bengals have a winning percentage of 111-192-1 (.367) in regular season play and 0-2 in the playoffs. Team performance improved with the hiring of Marvin Lewis. From 2003-present day, the Bengals record is 56-57-1 (.496), winning the AFC North Division in 2005 and 2009 (then losing to the division rival Pittsburgh Steelers and New York Jets respectively). The Bengals have six of the twenty-five 0-6 starts (24%) and four of the thirteen 0-8 starts (31%) in the NFL since 1991.
Organizers from MikeBrownSucks organized a boycott of a December 2001 regular season game and fans visiting this site have paid for planes to fly a banner in the Cincinnati area calling for Brown's resignation.
Who Dey Revolution (WDR) has staged "Project Mayhem" since 2008 in an effort to persuade Brown to make changes to the Bengals. These steps ranged from calling the Bengals "JERK line" to report Brown's behavior as abusive to purchasing billboards displaying a request for a General Manager to merchandise and ticket donations/boycotts and letter-writing campaigns . The website's purchase and distribution of 1000 urinal cakes at a Bengals' home game advertised Brown's lifetime regular season record of 98-186-1 to that point.
WDR publishes a comic strip titled "The Lost Generation", presenting Mike Brown in a Charlie Brownesque caricature, presumably to correlate Brown's track record to the famous cartoon character's history of hard luck and failure.
Al Davis (Oakland Raiders)
In 2000, head coach Jon Gruden led Oakland to a 12-4 season and their first division title since 1990, which was the first of a 3-year winning streak for the Raiders in the AFC West. In 2002, under head coach Bill Callahan, Oakland faced Gruden's Tampa Bay Buccaneers in Super Bowl XXXVII, where the team lost a lopsided affair, 48-21. Following the loss, the Raiders won a league-worst 26 games during the six full seasons from 2003-2008. In 2008, the Raiders became the first team in NFL history to lose at least 11 games in six straight seasons.
Davis' performance since 2003 has been heavily criticized, especially when in the offseason after that year the Raiders declined to re-sign wide receiver Tim Brown, a player nicknamed Mr. Raider and the last player to remain in the franchise since its return eight years before from LA. During his entire fifteen year career with the Raiders Brown had had a difficult relationship with Davis, perhaps the best example of the owner's personal problems with players since the Allen saga. In interviews Brown recounted a number of incidents in his personal history with Al Davis, although they cannot be independently confirmed, including:
*Being informed during his 1988 rookie camp, following a 1987 Heisman Trophy winning season at the University of Notre Dame, that Davis apparently does not like black players from ND. Such an assertion, if true, would be considered bizarre since Davis, as general manager, was responsible for picking Brown sixth overall in the season's draft.
*In 2000 Brown and two former teammates dined in an Atlanta restaurant simultaneously while Davis dined there, although the two parties did not exchange a word there. Although Brown did not call this a cold shouldered snub, he noted that he himself was incapable of bringing himself to speak to his boss. This was after a twelve year career including eight Pro Bowl selections exclusively with the LA/Oakland Raiders.
*In the same interview as above, Brown described the offseason process by which he decided to sign a new Raider contract rather than seek a new team on the open market. In his statements Brown apparently gave the rationale in his decision as being fear that his advanced age would deflate his negotiating power, and therefore he was only sure of a contract with Oakland. As an example he cited a perceived lack of enthusiasm from the Dallas Cowboys front office, where it had been rumored he was heading.
*Despite Brown's relationship with Davis, he later deflected criticism of the owner as out-of-touch in a 2009 interview for the New Haven Register, stating that he believed Davis is still "quite lucid".
Following his release Tim Brown was signed to Jon Gruden's Buccaneers for his last year, in the wake of which he retired. Davis's reaction was mum, and the Raiders organization did not call a press conference, as Brown invited reporters to a private one. Following Brown's departure, the Raiders posted 4-12 record during the 2003 season, and have achieved until 2009 a streak of six seasons with at least eleven losses, an NFL record. Rice was traded four games into the 2004 season to Seattle.
Since then Davis's position as general manager has opened him up to extensive criticism for the poor talent on the Raiders' roster. Since 2004 the franchise has only had a token one player selection to the Pro Bowl each season, three times punter Shane Lechler, and twice defensive end Derrick Burgess, with cornerback Nnamdi Asomugha being selected in 2009.
Denise DeBartolo York (San Francisco 49ers)
In 2000, DeBartolo York and her husband retired pathologist John York gained control of the 49ers and other sporting assets from her brother, Edward J. DeBartolo Jr.
The period since the 2002 season has been disastrous for the 49ers: injuries, a weak offensive line, and an inconsistent defense. Although they finished the 2003 season with a losing record of 7-9, Dennis Erickson was retained as coach for the 2004 season. The 2003 season also marked the end for volatile wide receiver Terrell Owens with the San Francisco 49ers. Owens scored 85 touchdowns in 8 seasons for the 49ers, including 4 in the playoffs. But his on and off-field antics lead to the 49ers trading him to the Philadelphia Eagles during the offseason.
During the 2004 season, rumors that the Yorks might sell the team began spreading. Larry Ellison and NFL Hall of Fame quarterback Steve Young have been the names most commonly rumored as potential buyers. The 49ers finished that season with a record of 2-14, and thus finished last in the NFC West division for the first time since 1979, ending what had been the NFL's longest active streak for not finishing last in a division. It was also the worst record that season among the 32 NFL teams, securing them the right to the first pick in the NFL Draft. Erickson and the man who hired him, General Manager Terry Donahue, were fired.
William Clay Ford, Sr. (Detroit Lions)
On November 22, 1963 William Clay Ford, Sr. purchased a controlling interest in the team for $4.5 million. This began a 46-year period that continues today, during which the Lions have won just one playoff game.
After finishing the 2000-2001 season at 9-7, and missing the playoffs by a field goal in the season's last game, Ford hired Matt Millen, a former player and broadcaster, as president and CEO.
The Lions went the entire 2001 (their last season at the Silverdome), 2002 (their first season at Ford Field), and 2003 seasons without a road victory, thus becoming the only team in NFL history not to win on the road for three consecutive seasons. The streak, encompassing 24 games (also an NFL record) came to an end on September 12, 2004, when the Lions defeated the Bears 20-16 at Soldier Field in Chicago.
Over seven seasons under Millen's leadership as team president, the Detroit Lions owned the NFL's worst winning percentage (31-81, .277), never had a winning season, never finished higher than third place in the NFC North, and did not play in any post-season games. Millen received a five-year contract extension at the start of the 2005 season.
In 2007, the Lions began the season with a promising 6-2 record. The optimism was short-lived, however, as the team recorded only a single victory in the next eight games, for a final record of 7-9.
The beginning of the 2008 season was a continuation of the 2007 losing slump, as the Lions were defeated in their first three games. On September 24, Millen was fired. During the 2008 season, the Lions were winless (0-16), becoming the first team in NFL history to lose 16 games in a single season, and thereby winning the right to the first overall pick in the 2009 NFL Draft.
On December 29, head coach Rod Marinelli was also fired. His record with the Lions was 10-38 in three seasons. Vice president Tom Lewand replaced Millen as president, while assistant general manager Martin Mayhew took over Millen's former duties as general manager.
Daniel Snyder (Washington Redskins)
Since Snyder bought the Redskins, the team has had a losing record. In October 2009, several articles in Washington area newspapers criticized Snyder, alleging that his managerial style was partly to blame for the Redskins' on-field struggles. A November 24, 2009 article in the Wall Street Journal also questioned whether Snyder's leadership style had alienated the Redskins fan-base, questioning "Are the Redskins Losing Washington?" The article quotes from a Harris Interactive poll showing that whereas the Redskins in 2003 were the 6th most popular NFL team nationally, by 2009 they had fallen to No. 17.
After a 3-7 start to the 2009 Washington Redskins season, criticism of Snyder and his general manager Vinny Cerrato, who resigned on December 17, 2009, escalated. Fans and football analysts have criticized the revolving-door of Redskins head coaches employed since Snyder bought the team, as well as Snyder and Cerrato's focus on hiring expensive free agents and trading away draft picks for older players instead of recruiting young talent through the NFL draft. Part way through the 2009 season, Snyder banned all signs from FedEx Field, leading to further fan discontentment.
Under Snyder the Redskins have also sued season ticket holders who were unable to pay during the 2008-2009 U.S. recession.
Redskins fans have also expressed discontentment about rising ticket and parking prices, and Snyder's policy of charging fans for tailgates in special areas of the stadium lot.
National Hockey League
Atlanta Spirit, LLC (Atlanta Trashers)
On September 21, 2003, the team was sold to a group of Atlanta Spirit, LLC by Time Warner, along with the National Basketball Association's Atlanta Hawks. Atlanta Spirit consists of Bruce Levenson, Ed Pestkowitz, Rutherford Seydel, Beau Turner, Michael Gearon, Sr., Michael Gearon, Jr., Felix Riccio and Steve Belkin.
November 3, 2008, a Maryland court began proceedings on February 17, to decide the fate of the Thrashers' ownership. A dispute between Steve Belkin and his seven fellow owners dated back to 2005. Belkin claimed the other owners breached their contract, giving him the right to buy them out at cost, while his counterparts said they should be able to buy out Belkin's 30% stake.
Alan Cohen (Florida Panthers)
In June 2001, he led a consortium of wealthy fans in purchasing the Panthers from H. Wayne Huizenga's Boca Resorts Inc. He did not initially plan to leave Andrx until a successor was found to lead the firm. But he resigned that October, saying he was comfortable with the existing management. He stayed on briefly as a co-chairman of the board of directors. The company's stock fell in the years after his departure to as low as the $20-a-share range. In less than a year, Cohen said he missed the pharmaceutical business. In 2002, he created Abrika Pharmaceuticals Inc. in Sunrise, Florida, to develop and manufacture drug delivery systems such as skin patches and oral sprays. Four years later, he sold it for $235 million to Actavis Group, an international generic drug company in Iceland.
Maple Leaf Sports and Entertainment (Toronto Maple Leafs)
Despite being unpopular with fans, Richard Peddie has been extraordinarily successful financially. Since taking over MLSE, he has tripled its value to over $1.5 billion, credited to gullible fans "clever marketing and shrewd dealmaking". As of 2008, the Toronto Maple Leafs, valued at $448 million, are the most valuable franchise in the National Hockey League.
Meanwhile, Larry Tanenbaum hired Ken Dryden to become the president of the Toronto Maple Leafs in 1997. Both Ken and Larry were fraternity brothers of the Sigma Phi Society at Cornell. Pat Quinn became head coach in 1998. Dryden and Quinn reportedly had a frosty relationship. A few months after joining the Leafs, Quinn took on the General Manager position, reportedly to preempt Dryden from hiring his preferred GM which was former Habs teammate Bob Gainey.
Steve Stavro, the owner of MLG, became chairman and majority owner of MLSE, of which Tanenbaum was a minority partner. However, Stavro and Tanenbaum were said to have a poor relationship, as Tanenbaum disputed a report that claimed that Stavro saw him as a favored son. A Globe and Mail Report on Business magazine article also alleged that Stavro would worry about minute details such as hot dogs. The owners' lounge at the Air Canada Centre was modeled in a Scottish theme with dark wood panels while Stavro was chairman; his successor Tanenbaum had the room remodeled to a white modernistic style with some insiders saying that the change was made because the old room reminded him too much of Stavro.
Following the 2004-05 NHL lockout, the Leafs began experiencing some rough times, missing the playoffs in four consecutive seasons following a pre-lockout run of six straight playoff appearances. They struggled in 2005-06, and despite a late-season surge (9-1-2 in their final 12), led by third-string goaltender Jean-Sebastien Aubin, the Leafs were eliminated from playoff contention for the first time since 1998. This marked the first time that the team missed the playoffs under coach Pat Quinn, and as a result he was fired shortly after the season. Paul Maurice, an experienced NHL coach who had just coached the Leafs' American Hockey League affiliate, the Toronto Marlies, in their inaugural season, was announced as Pat Quinn's replacement. On June 30, 2006, the Maple Leafs bought out the contract of long-time fan favourite, Tie Domi. In addition to Domi, the Maple Leafs also decided against picking up the option year on the contract of goaltender Ed Belfour. Both players became free agents on July 1, 2006, effectively ending their tenures with the Toronto Maple Leafs. However, despite the coaching change and addition of new players such as Pavel Kubina and Michael Peca, the Leafs again did not make the playoffs in 2006-07, 2007-08 or 2008-09.
On January 22, 2008, general manager John Ferguson Jr. was fired and was replaced by Cliff Fletcher on an interim basis. On May 7, the Leafs fired head coach Paul Maurice and assistant coach Randy Ladouceur, and replaced them with former San Jose Sharks coach, Ron Wilson, and assistants Tim Hunter and Rob Zettler.
Predator Holdings LLC (Nashville Predators)
On May 23, 2007, Craig Leipold was reported to have reached a tentative agreement to sell the team to the Chairman and Co-CEO of Research In Motion, Jim Balsillie. At the time, Leipold indicated that the team would play the 2007-08 season in Nashville but that the future of the team after that was not clear. Balsillie had long been rumored to be interested in placing another team in Southern Ontario. The deal was expected to be finalized by late-June and had to be finished by June 30, 2007. The proposed re-location site was Hamilton, Ontario, with Balsillie's new company, Golden Horseshoe Sports & Entertainment (named after the portion of Southern Ontario centred around the west-end of Lake Ontario, which is known as the Golden Horseshoe), securing exclusive rights to bring an NHL team to Copps Coliseum, as well as the rights to operate Hamilton Place, the Hamilton Convention Centre, and the associated parking facilities for the next 20 years. Hamilton Mayor Fred Eisenberger stated that Balsillie's intention was to bring an NHL team to Copps in Hamilton, and it was reported that Basillie would invest $140 million into the arena to bring it to modern NHL standards. Relocating to Hamilton, however, may have required compensation to be offered to the Toronto Maple Leafs and Buffalo Sabres because those teams have territorial rights to the region. Despite rumors to the contrary, it was reported that Kitchener-Waterloo was not being considered as a possible location for the team.
On June 13, it was announced that season ticket deposits for the "Hamilton Predators" would begin to go on sale through Ticketmaster the next day. A source said Balsillie's objective was to show the league's governors that there is a Potential National Hockey League expansion into Canadalarge base of ticket buyers in Southern Ontario. After the drive started, over 13,000 season ticket deposits were sold, including all of the 70 available corporate box deposits, costing $5,000 each. At the time, there were just under 9,000 season ticket holders in Nashville.
Ontario Premier Dalton McGuinty stated the provincial government was willing to consider offering financial support if the team relocated to Hamilton. Hockey great Wayne Gretzky, a member of the NHL Board of Governors through his ownership of the Phoenix Coyotes, openly supported the team's move to Hamilton, stating that an NHL team in Hamilton would be tremendously successful.
On June 23, information was leaked by several sources indicating that Leipold no longer wanted to sell the Predators to Basillie. Leipold responded indirectly advising that a deal with Basillie was still possible. Mr. Basillie's lawyer, Richard Rodier, was quoted as saying Craig Leipold's letter to the NHL "changed little if anything" in regards to the pending sale and was a mere formality as part of the sale process. Canadian insiders believed that the information and delay tactics may have been because the league did not want a team to move to Canada, something the NHL denies.
Subsequently, a campaign to land the team in Kansas City, Missouri, reportedly received a boost in late June 2007. The National Post of Canada, citing anonymous sources, reported that Nashville Predators owner Craig Leipold plans to sell the team to San Jose venture capitalist , who wanted to relocate the club to Kansas City’s new Sprint Center for the 2008-09 season., it did not include season tickets like Balsillie's move. Later that day, Leipold denied rumours that he was dealing exclusively with Del Biaggio, stating that he is open to all bids and that a deal with Basillie was still possible. Leipold is said to have been incensed that Balsillie was reneging on his promise to not move the Predators and failing to make the required deposit in connection with the offer. The Globe and Mail reported on July 4, 2007, a group of 30 investors became the third party to make a bid to purchase the franchise and keep the team in Nashville.
On July 19, 2007, a group of local business owners known as Our Team Nashville held a rally at the Sommet Center to encourage fans to buy season tickets in order to help the Predators meet the attendance figures needed to keep the team in Nashville. They drew approx 7,500 fans and sold the equivalent of 726 full season tickets during the rally. The rally was heavily supported by WGFX 104.5 "The Zone" sports radio in Nashville.
On August 1, 2007, the group who had intentions to keep the team in Nashville delivered a letter of intent from Craig Leipold. After protracted negotiations with the city of Nashville, the local group headed by David Freeman reached an agreement with Nashville Mayor Karl Dean, and the NHL Board of Governors approved the sale on November 29, 2007. The $172 million acquisition of the Nashville Predators included repayment of existing debt of approximately $61 million and $2.2 million in fees and expenses.
If by the end of the 2009/10 season, the team loses at least $20 million or more in cash flow and does not average 14,000 per game in average attendance, the team can break its lease with the city of Nashville by paying a $20 million breaking fee. If the team is to be moved or sold, multiple cities could bid hard to attract an NHL team--Hamilton, Quebec City, Kansas City, Las Vegas, Houston, Oklahoma City, Seattle, Winnipeg and Portland among others, although subsequent general economic conditions may have a material adverse effect on the interest or ability of individuals to purchase the team. These potential cities could be required to offer exceptional arena deals for an NHL team and face the challenge of trying to deliver a fan base superior to that in Nashville. Changes to the lease with the city that were deemed necessary by the ownership to keep the team viable were eventually passed on April 15, 2008.
The sale of the Predators to the Tennessee-based group was made possible after Del Biaggio agreed to enter into a partnership with the locally-based buyers. Under the terms of the agreement, Del Biaggio and a minority partner acquired about 27% of the club. Del Biaggio is said to have obtained limited concessions from his new partners and the league in exchange for his involvement, including:
*The right to buy out the other owners if the club incurred significant losses.
*The right to sell his stake to the other owners if and when the club became financially stable.
*The right to claim his share of any profits combined with full immunity from any cash calls that might be necessary.
It was widely assumed that Del Biaggio's long term goal remained the ownership of a club in Kansas City whether this team be the Predators, another existing team or an expansion franchise.
In June 2008 Del Biaggio ran into legal trouble over a multitude of unpaid loans, culminating in him filing for Chapter 11 bankruptcy. Furthermore, it is alleged that Del Biaggio acquired the loans he used to buy his stake in the team through fraudulent means, prompting an FBI investigation and criminal charges.
Under United States bankruptcy law a trustee was appointed sell Del Biaggio's assets, including his stake in the Predators to pay off his creditors. One report indicated that, perhaps as a last ditch attempt to avoid bankruptcy Del Biaggio solicited an offer from Balsillie to buy his stake in the team at a "significant premium". That deal was said to have collapsed after the NHL and/or the local group either blocked it outright or at least insisted on the annulment of all concessions given to Del Biaggio prior to any transfer of the stake to Balsillie.
Major North American sports leagues are expected to exercise "due diligence" before allowing anyone to acquire a large stake in a franchise, so Del Biaggio's bankruptcy is considered to be a serious public relations setback for the league. Furthermore, the commencement of bankruptcy proceedings arguably could affect the rights of the league and the other Predators owners to block the sale of Del Biaggio's stake to the highest bidder. Depending on the circumstances, a party could argue that the constitution and by-laws of the NHL could be superseded if a bankruptcy court determined that the league was trying to enforce its rules in a manner detrimental to the creditors' interests, although it is entirely unclear whether such an argument could succeed. Predators' owners disagree completely with this theory.
Charles Wang (New York Islanders)
Wang has received praise for his willingness to spend money with the goal of making the Islanders competitive; previous ownership groups had not. He also has a reputation for making decisions that go against conventional wisdom. Occasionally these unorthodox decisions, such as hiring Ted Nolan as coach, receive praise. Others inspire criticism that Wang is being contrarian for its own sake and not following logic or reason.
After hiring Neil Smith as the general manager for the New York Islanders during the 2006 Stanley Cup Finals, Wang fired him 40 days later and gave the job to Garth Snow, who retired from his position as the team's backup goalie to take the job. Wang said that "philosophical differences" were the basis for firing Smith. This series of personnel moves inspired a critical and incredulous reaction from hockey journalists.
On September 12, 2006, Wang and GM Snow signed goaltender Rick DiPietro to a 15-year, $67.5 million contract. The length of the deal, as well as Wang's signing of Alexei Yashin to a 10-year contract a few years before, have added to controversy.
A Forbes article investigated why certain NHL franchises could remain profitable despite poor attendance and overall league unprofitability. They found that several league owners underreported their cable broadcast revenue; they specifically accused Wang of excluding half of the $17 million paid to the Islanders for the 2003 cable broadcast season.
Wang has threatened to move the Islanders if the redevelopment plan for the Nassau Veterans Memorial Coliseum (titled the "Lighthouse Project") is not approved by Nassau County and the Town of Hempstead.
Wang has stated that he regrets buying the team and would not do so if he could choose again.

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