The Nashville Predators franchise has defaulted on a $40 million loan, according to a report in Canada’s Globe and Mail newspaper.
The local ownership group has filed papers with the California court where co-owner William “Boots” Del Biaggio III declared bankruptcy this summer after federal authorities launched investigations into his business dealings.
In those filings, the Globe and Mail reports, are details of the team's default – triggered by Del Biaggio's difficulties – on the $40 million loan from national finance player CIT Group Inc.
The local group’s documents also say a bidder – rumored to be BlackBerry mogul Jim Balsillie – is in talks with the bankruptcy trustee to guarantee the CIT debt.
Nashville Predators LLC |
James L. Balsillie |
William J. 'Boots' Del Biaggio III |
Nashville professional sports |
Finance and Ventures
You must be logged in to comment. If you do not have an account, you can join our esteemed subscribers.