Rhinos House of Cards

If you read the article Soccer Sam says things will probably unfold in the next week. (which could mean month-6weeks)

 

From what I have been reading on other forums, the league dues have to be paid by the end of Feb. so the deal has to be closed pretty quickly.

 

This has got to be a bit of a nightmare for the USL. With the Virginia Beach disaster, and rejiggering of the schedule last year, now the possibility of this.

Let's hope that 1) something gets worked out to keep the team playing and 2) something that provides long-term stability is finalized.

There's a lot at stake here. With the public investment in PAE-TEC Park, it is all but imperative that this works out in the end. If it doesn't, the ability of any other minor league team to get public help in building a facility will drop to nil and void.

 

http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20080214/SPORTS05/80214019

More to come probably.

 

It is a shame that Rochester is falling apart. It is really about mismanagement by owner Steve Donner. This guy has been real good at finding suckers to go into business with him and using that money to financed his lifestyle. The Mayor of Rochester will never trust him again and the word is out not to go into business with him.

Frank Marcos would do everyone a favor if he took back the Rhinos franchise from Donner today. He is nearly ready to file Chapter 11 anyway but new owners can be found if Donner is history.

 

Te fact that there are two different ownership groups looking to step in is nothing but a good thing for Rochester and the USL.

But it's hard not to look at this franchise and say it's nothing short of a fiasco. It would be hard for things to be more f**ed up.

I agree with Andy that resovling this situation positvely so that the city and the creditors are off the hook is very important for the USL's future because if the Rhinos go tits up despite their stadium deal, it's gonna be really hard for other teams in the league that don't draw as well as the USL to get public stadium money.

 

http://www.13wham.com/news/local/story.aspx?content_id=87178141-9f00-4bf3-b780-8b2449baa22f

(Rochester, N.Y.) - The New Jersey businessman who wants to buy the struggling Rochester Rhinos issued a lengthy statement Saturday about the status of the potential sale.

"I would dearly love to take an ownership stake in Rochester's team... However, I would want the money injected in to this club to go in to finishing a stadium, in to attracting great players, to building a youth infrastructure and, above all, to improving the region immediately around the stadium," he said.

"What I am NOT interested in doing is having all the resources I, and others, would be willing to dedicate to this project merely disappear in to a black hole of overpaying just to secure a franchise, then paying off legacy debts and then covering operating expenses exaggerated by factors not of my creating."

 

In short, he doesn't want to

1) pay off everybody's lawyers to make the various lawsuits go away

2) pay DuRoss/Donner/Economides anything that would end up in their pockets.

I'm guessing he's willing to assume the notes on the loans for the stadiums, and some team debts, but that would be in lieu of shelling out money to the current ownership group.

And even if lawsuits are dismissed, the legal fees in these sorts of things can get pretty sizable, real quick.

---------
I looks like Williams may have decided to let the Rhinos fail, then offer to buy an expansion USL franchise license and strike a deal with the city of Rochester to rent the repossessed and vacant PAE-TEC park for his new team.

Frankly, that may end up being the cheapest option on his part. It's also a pretty good bargaining chip against the Rhinos' creditors. Either take what Williams is offering, or good luck getting money out of the current owners.

 

A lot of people in the Rochester area are nervous about the possibility of allowing the team to fold and waiting for Williams or Soccer Sam to acuire a new franchise contract with USL. I understand that.

BUT - Williams is making total sense here, why should he pay $.01 more than he has to to get this done? He makes great sense in saying, if there is money to be spent why not put it into the team and the stadium and the surrounding area - instead of into bankers, lawyers, and former owners pockets?

 

What a saga. Not a great one for 2nd division soccer in this country but a saga nonetheless.

 

It's probably the best idea as well as the cheapest.

This whole situation is a real mess.

 

That is actually a very astute comment. At least this new guy from Jersey has some brains.

Let it die, the USL and the city of Rochester will each come running to him for their own selfish and yet concurrent reasons. The USL needs a team, the city needs a tenant for this ridiculous stadium they got suckered into building in a crummy part of town.

Frankly this guy is very aware that the City needs him a lot more than he needs the Rhinos. Also the USL needs him more than the other way round too.

All he needs to do is wait until the Donner-party finally is starved of money. If you understand the little Donner party and starve joke you will see where this club needs to go to be reborn.

The only problem I can see is the new team might have a very bad hangover from the debacle that was the previous adminstration. Between the ferry to Toronto disaster and this stadium any politician in Rochester is looking for any sort of rescue package right now.

 

http://www.democratandchronicle.com/blogs/devo/

New information.

 

Holy crap. Jeff DiVeronica really pulled out the whipping stick on his readers.

 

And a lot of them deserve it.

 

Jeff works for Gannett. Enough said.

 

The USL franchise fee cash call is due tomorrow and nothing has been resolved yet...

Latest question being raised on Devo's blog is if the team goes bankrupt, does the city of the bank control the stadium? And even if the city controls the stadium, can the bank try to sue for control and hold the stadium in legal system limbo in the meantime until anything is resolved?

Not looking good, makes me wonder if maybe the Soccer Sam group will end up as the leaders and the Rhinos will play somewhere other than the stadium...meanwhile Dan Williams gets fed up and moves onto plan B elsewhere...

 

Hello everyone,

This is Andrew Battisti and I am the co-host of the longest running soccer radio show in North America, Soccer is a Kick in the Grass, based in Rochester, NY. Today, the City of Rochester and Mayor Bob Duffy announced that they are taking over PAETEC Park from the current Rhinos owners and that new owners for the USL team will need to be found quickly to save the 2008 season for the Rhinos.

I have just posted a new podcast with Sam Fantauzzo, the Rochester soccer personality who has put together a team of local businessmen to bid to take over the Rhinos franchise, at the Soccer is a Kick in the Grass website, www.soccerisakickinthegrass.com.

Sam addresses the following points:

- His view on today's press conference with Mayor Duffy
- The status of his investment team's bid to purchase the Rhinos
- Will NBT Bank try to claim either PTP or the Rhinos franchise?
- What happens to the Rhinos players, coaches and staff?
- Will there be a Rhinos season in 2008?

AND

- The identity of the other investment entity that has come forward to make a bid for the Rhinos and the loan on PTP!

We all invite you to click and listen!

 

That "its not a done deal yet" should be the Rhino's mantra. They will almost certainly be advised to change the name. A lot of bad press, broken promises' and bad debts are too contected to the Raging Rhinos. Maybe go back to Lancers or ________ something new.

 

Sam wont ever work fully with Clark's group while Matt Ford is GM. Matt Ford has gone out of his way to purge any 'old blood' from the organization and Sam is at the point where he probably won't work with Ford anymore unless he is in a position over him.

 

Sounds like Sam is celebrating. The Rhinos are saved

http://www.soccersam.com/news/weise/

 

Wow.