From The Daily News of Thursday, Nov. 29, 2007. . . .
While the Kamloops Blazers Sports Society no longer owns a WHL franchise, it does hold the first option to purchase one.
Society executive director Bob Smillie told the society’s annual meeting Tuesday at Interior Savings Centre that it holds the first option should the new owners, the Kamloops Blazers Hockey Club Inc., choose to sell.
The society voted Aug. 23 to sell its WHL franchise to Vancouver businessman Tom Gaglardi and four ex-Blazers players -- Shane Doan, Jarome Iginla, Mark Recchi and Darryl Sydor.
”The option to purchase is at the same price less 10 per cent of what has been paid in the current transaction and is subject to the same conditions,” Smillie said. “It is transferable to any new owner who may be seeking a franchise in Kamloops.”
Society president Murray Owen confirmed that the option may be reassigned once. Because of the reassignment clause, Owen said it isn’t imperative that the society keeps on hand enough money to buy back the franchise.
”We must remember that the right of first refusal, or the right to buy the hockey club back, doesn’t mean that the society needs to keep, say, $5.6 million,” Owen explained. “. . . because if the hockey club ever came back to us because we had that right then we believe that there would be other buyers interested in keeping the hockey club here in Kamloops and that is the main purpose of that.”
Should another interested buyer surface, the society simply would transfer its option to that party.
Smillie said the inclusion of the option was deemed necessary by the board when it was putting together the purchase agreement, even though the new owners promised not to move the team.
”It’s good and well for everybody to indicate that they would be here forever,” Smillie said. “But we all know that forever is not necessarily forever.”
According to Smillie, who, among other things, chaired the society’s governance committee, the WHL’s bylaws don’t contain anything guaranteeing the franchise could not be moved.
”They have guidelines only; there are no specific requirements within the Western Hockey League bylaws for the new owners of the franchise to keep the operation within the city,” Smillie explained. “The board, in its due diligence in discussions with the league, has determined that the guidelines of the league, in fact, would request the new owners to maintain the franchise in Kamloops for a minimum of five years.”
p p p
The Blazers have traded LW Travis Dunstall, 18, to the Medicine Hat Tigers for F Scott Wasden, 19, and a 2008 seventh-round bantam draft pick.
Dunstall, from Onoway, Alta., was the 16th pick in the 2004 bantam draft but never lived up to his potential here. In his third season, the 5-foot-10, 175-pounder had nine points, six of them goals, in 23 games. In 129 career regular-season games, he has 49 points, including 21 goals, and 129 penalty minutes.
In 2003-04, Dunstall scored 58 goals with the St. Albert Raiders to set a then-Alberta Major Bantam League record. However, he never was able to demonstrate that kind of offensive talent at the WHL level.
Wasden, from Westbank, was the 231st pick in the 2003 draft. He has seven points, including two goals, in 26 games this season. Over two-plus seasons with the Tigers, he has 29 points, 10 of them goals, and 118 penalty minutes in 136 games. He had 10 points in 23 playoff games last season and was pointless in four Memorial Cup games.
The Blazers are hoping that Wasden’s playoff experience will pay off for them in a big way.
Wasden, 6-foot-1 and 200 pounds, is expected to make his Blazers debut Friday against the Rockets in Kelowna.
Posts
