SASRACE

Any News?

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Birmingham Bulls having presser right now in Pelham Civic Complex

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Cottonmouths still listed on press release from SPHL today.  I know this means nothing, but it may have some hope for their fans.

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Columbus is selling season tickets for 2017-18.

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http://www.ledger-enquirer.com/sports/other-sports/columbus-cottonmouths/article146908659.html

 

It’s not over, but it’s not looking good for the Columbus Cottonmouths immediate future.

Cottonmouths General Manager and Coach Jerome Bechard said Wednesday the team needs to find new ownership by the end of the week or it will be forced to cease operations and not field a team in the Southern Professional Hockey League next season.


 
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It's over folks. I hate it. Been a fan for a long time and will miss the Snakes. The Amos family has done a fantastic job giving us hockey out of their own pockets. With their loss every season and the team getting worse every year, I can't and don't blame them. 

Heres the truth. The team has been shopped, and was well before the article came out about our possible demise. The civic center/city of Columbus has not been helpful and leached a lot of revenue off this team over the years. Revenue that should have helped fund the Snakes, has not. That same revenue could have helped with hockey in Columbus for years to come. 

I wish there were a different outcome, but it's not likely 

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IT'S NOT OVER UNTIL THE SPHL ANNOUNCES THAT TEAM HAS STOPPED OPERATIONS!!!
DON'T GIVE UP YET!!!

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Any new update? I think they have till tomorrow.

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Maybe it's his parents house.  :unsure:

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Announcement expected this week on Columbus Cottonmouths future

By J.T. Fellows - WTVM Ch. 9

Quote

COLUMBUS, GA (WTVM) – Time is running out for the local franchise as the team is still looking for a buyer as the deadline is looming.

Sometime this week the team needs to have at least a prospective buyer in order to keep them in town.

Head coach Jerome Bechard said there has been interest, but so far nothing solidified.

With everything in question, the SPHL gave the Cottonmouths until the end of the playoffs to try and find a buyer.

Last night the finals ended so we are just days away from possibly losing the franchise.

We expect the team to announce something later this week.

Nothing is final as of yet so it is still possible they will find someone to buy the team, but time is certainly not on their side right now.

 

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3 hours ago, JMC-STL said:

Maybe it's his parents house.  :unsure:

Maybe a last ditch effort to raise money to buy the team himself? They did call it a "get away" in the description so maybe its a second home.

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11 minutes ago, vicvegas said:

... They did call it a "get away" in the description so maybe its a second home.

Hmmmm, I didn't see the term "get way" in the listing that Speed linked.  It did describe the property as a "retreat," but I thought that was what Mr. Bechard was doing after getting no takers for the team.  :dontgetit:

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1 hour ago, JMC-STL said:

Hmmmm, I didn't see the term "get way" in the listing that Speed linked.  It did describe the property as a "retreat," but I thought that was what Mr. Bechard was doing after getting no takers for the team.  :dontgetit:

Have faith...maybe he is downsizing.

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I know time is short on our team. But their is talks of trying to maybe have a fan owned team. They are looking to do what the Green Bay Packers do and have stock options for the team. 

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42 minutes ago, nightman_34957 said:

I know time is short on our team. But their is talks of trying to maybe have a fan owned team. They are looking to do what the Green Bay Packers do and have stock options for the team. 

I wouldn't put too much stock into that rumor if you say there is talk.

#1 I am not sure, but I believe the league would not allow that type of ownership. The reason the Green Bay Packers are like that is because they were grandfathered in. The NFL strictly prohibits not-for-profit corporations from being owners of franchises. This is direct from the NFL By-Laws.

#2 The most effective way to do this is to organize as a not-for-profit. Any proceeds that are generated can substantially help with arena upgrades and improvements and fund a team pretty decently. Plus as a not-for-profit, the "owners" cannot expect any kind of return on their shares.

#3 It can be organized as a for-profit; however, it would need to be strictly emphasized in the corporate charter/by-laws that stock ownership is not a guarantee to return dividends. This will protect the team in case of a potential lawsuit should a fan feel he/she is entitled to any ROI's, provided the team earns a profit. If a corporate by-law specifically outlines the reason for selling ownership to the fans and that this is not an investment to expect returns, then a judge would have to rule in favor of the defendant.

#4 As stated previously, it is highly unlikely the SPHL BOD's would approve such a venture for a franchise. Anyone whom owns minimum 10% in a team has to be listed as an official owner of said franchise. To avoid this, depending on what type of setup the team would go with, one person would have to be listed as a 10% owner. To avoid any outside investors from owning the minimum 10%, the by-laws would also have to outline the maximum ownership amount for outside investors.

There are a lot more issues that could pose an issue in this particular route. I just do not want to post a really large message and just highlighted 4 major things.

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35 minutes ago, PeeDeePride said:

I wouldn't put too much stock into that rumor if you say there is talk.

#1 I am not sure, but I believe the league would not allow that type of ownership. The reason the Green Bay Packers are like that is because they were grandfathered in. The NFL strictly prohibits not-for-profit corporations from being owners of franchises. This is direct from the NFL By-Laws. ...

Different league, I know, but the ECHL has a few not-for-profit owners: Toledo (success story), Elmira (just went dark after 3 seasons), Adirondack (recent acquisition).  So there are precedents in lower level minor league hockey for such a franchise ownership arrangement - with varying results.

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50 minutes ago, JMC-STL said:

Different league, I know, but the ECHL has a few not-for-profit owners: Toledo (success story), Elmira (just went dark after 3 seasons), Adirondack (recent acquisition).  So there are precedents in lower level minor league hockey for such a franchise ownership arrangement - with varying results.

True, but with Elmira, was actually owned by Chemung County. Again, the biggest issue being approved as that route by the Board of Directors. To speak quite frankly, a community owned franchise is a success story no matter what. Look at the Toledo Mud Hens, Rochester Red Wings, Burlington Bees, etc. I am not sure how using precedents would blow over with the current directors. 

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1 hour ago, PeeDeePride said:

True, but with Elmira, was actually owned by Chemung County. ...

Correction: While the Elmira arena was indeed owned by Chemung County (recently purchased from them by a private investor), the Jackals team has been owned by a community board named "Twin Tiers Economic Development" since 2015.

Nevertheless, I agree with your basic premise that such an ownership arrangement in Columbus would face an uphill climb.

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Don't the Riverkings operate under some sort of 501-C plan, kind of like a foundation?

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I been talking to some friends of mine about this Cottonmouths deal and they are in the business world of buying and selling and they all agree that Wanda Amos should have put team up for sale, but continue to operate it as it would be easier for potential buyers or investors to the product they are buying, they said it would be a hard sell to somebody or investors with all the negative pub going around.

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1 hour ago, SASRACE said:

I been talking to some friends of mine about this Cottonmouths deal and they are in the business world of buying and selling and they all agree that Wanda Amos should have put team up for sale, but continue to operate it as it would be easier for potential buyers or investors to the product they are buying, they said it would be a hard sell to somebody or investors with all the negative pub going around.

You can only bleed for so long before you have to stop the bleeding. I do not care how much money you have

there is no way you can lose that amount of money for that long. They kept the Cottonmouths going in spite of

losing a ton of money. Nothing but good things to say about the Amos's. There is no one in this city that has given

so much to the community with a hockey team and a hockey team that was involved with the community.

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8 hours ago, SASRACE said:

Don't the Riverkings operate under some sort of 501-C plan, kind of like a foundation?

Actually I believe so, because the ownership is Maddox Foundation; however, if that same foundation owned them prior to the SPHL, it might be different. Again, it would be a league thing. That whole operational format is speculative unless you are an actual league official or director.

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3 hours ago, Snakezzz said:

You can only bleed for so long before you have to stop the bleeding. I do not care how much money you have

there is no way you can lose that amount of money for that long. They kept the Cottonmouths going in spite of

losing a ton of money. Nothing but good things to say about the Amos's. There is no one in this city that has given

so much to the community with a hockey team and a hockey team that was involved with the community.

That's very accurate. If you average the Amos' loss per season for the duration of their ownership, you'll find a 7 figure loss. (thanks city of Columbus/civic center).

thanks to so many of the kind hearted players that did offer so much and contribute to our community. The sphl era really went above and beyond in this regard. 

Sincere thanks to the Amos' for keeping this going and funding a passion of theirs, while we as fans benefitted. easy for anyone who can't burn $150,000 a season to have an opinion. I'm thankful they did for so long. Thank you W and S. thank you Jerome. Thank you Craig Stahl. Thank you Orrin Hergott. None of your efforts were wasted. 

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