Preds Ownership One Step Closer To Being 100% Local

The Tennessean and the Nashville Post have both reported some good news for Preds fans from this morning’s Metro Sports Authority meeting.

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.

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