Let me sum up what the papers have reported:
The authority voted unanimously to release the local ownership group from the guaranty agreement that was made between the city and Boots Del Biaggio. They also waived a claim against Del Biaggio made in the California Bankruptcy Court. Waiving the claim was part of the deal struck last month as a condition in buying the shares of the team from the bankruptcy trustee.
As Predators’ fans know, Del Biaggio owned 25% of the team’s shares, and is currently serving an 8-year prison sentence for fraud.
The ownership group has agreed to take responsibility for the $31.2 million guaranty to the city by Del Biaggio.
Now we just need the sale of the shares to official be made official, taking 25% of the Predators shares out of the bankruptcy trusteeship and into the hands of the local ownership so we can all breath a sigh of relief.