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Leipold's losses (and potential gain)

The Tennessean has a detailed look into the financial figures involved in Craig Leipold's ownership of the Nashville Predators, including year-by-year accounts of his losses and the eventual windfall he stands to receive once the team is sold:
Despite millions coming in from naming rights, the team began losing money — half a million during the 2000-2001 season and $5.8 million the next, court records show. All told, Leipold has estimated his operating losses at $70 million.

Gaylord got new top managers and announced in 2002 that it would exercise its option to sell its share of the franchise back to the team. Gaylord asked for $5.4 million as the first installment of that deal.

Ed Lang, the team's chief financial officer, said in a deposition that the team could not pay Gaylord the money without going into default on the $40 million in loans.

"Operation of the team is — doesn't look very good financially," Lang testified.
Leipold apparently walked into the deal with only a $9.6-million initial investment (he's obviously put quite a bit more into the team since then), and the newspaper claims he will walk away with somewhere in the neighbourhood of $30-million if the $193-million sale price stands up.

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