Del Biaggio’s stake in the team is still held by the U.S. Bankruptcy Court. Freeman said yesterday in an e-mail message to the Predators "senior staff" that he also forwarded to The Globe and Mail, that the bankruptcy case was behind his cash-flow problems.

Freeman said he loaned the Predators "several million dollars" in 2007 on what was supposed to be a short-term basis to finalize the sale. But when the Del Biaggio scandal hit, Freeman was forced to turn the loan into an unexpected equity investment in the team.