From John Glennon of the Tennessean:
The Nashville Predators hockey club bought time from Metro on Friday to get its financial house in order and fix a sudden nearly $10 million hole in the safety net meant to protect the city in its deal with the team.
The Metro Sports Authority took no action to place the team in default in the wake of financial and legal troubles of Predators minority owner William J. “Boots” Del Biaggio III. The authority appeared willing to give the team at least until Aug. 4 to replace the $9.8 million that Del Biaggio had pledged as his part of the guarantee under a new lease agreement negotiated by Mayor Karl Dean’s administration earlier this year and adopted in April.
Read the entire article here.
The Predators are getting somewhat of a break here, as the Metro could have placed the team in default. Regardless of the outcome, this has turned into a complete disaster for the NHL.
