Tuesday, June 07, 2005

 

The New WHA: A Third Reincarnation

Back in March, we heard of the New WHA's plans for the Bobby Hull Invitation tournament. Without so much as a peep from the WHA, that tournament, the idea, the league, and the hype just faded into thin air without any announcements.

My stepfather, David, pointed out this news release from the WHA today, in which the WHA is re-launching itself after two aborted attempts.

WHA version 3.0?

Park Hill Capital II, Inc. a US public company soon to be publicly trading on a US exchange, announced today that after several months of confidential negotiations, it will acquire the World Hockey Association and the US Pro Golf Tour to create a complete professional sports marketing and management company to be renamed Major League Sports Corporation.

Under the terms of the acquisition agreement the company will issue fourteen million common shares to acquire both companies and will complete an initial private placement and public financing of up to $60,000,000 USD with the services of Finkelstein Capital Inc. of Montreal and Westminster Securities Corporation, a New York Stock Exchange Member.
$60 million ?? That is some serious coin!

Of course, like the boy who cried, 'Wolf', not many pundits are going to take the New WHA seriously until some actual lease contracts are signed and some actual players sign some actual contracts.

Still, you got to hand it to the people who run the WHA: They dream big; they never let their dreams die; and they are tenacious.


This new corporate and financing structure will enable the WHA to launch its operation and effectively revive the sport of professional hockey, with a minimum of six teams in cities yet to be announced, in time for the 2005 and 2006 season

The business model of the WHA includes plans to expand over the next 5 years with up to 16 franchises in North America and 16 in Europe. Revenue sharing between home and away teams will be implemented and corporate sponsorship will play a significant role in bringing professional hockey back to the fans.
*shakes head* Not to bring back an old argument, but we've been over the topic of pro teams in Europe before. Fans aren't going to support the Frankfurt Hamburgers playing the Hartford Whalers when they can watch the Frankfurt DEL team play in a real rivalry against Kolner Haie.
Will we wait another 3 months to see the 4th business plan for the WHA or will this plan hold some water?

# posted by Unknown @ 5:41 pm
Comments:
The third reincarnation of the World Hockey Association (WHA)! Wha? As in Wha' the *****? $60 million for a merger the WHA and the US Pro Golf Tour? Is it April 1st? The WHA at least has a website. Of course, there isn't anything on the website. No players. No owners. No teams. The US Pro Golf Tour website brings up an access denied message. We are dealing with serious smoke and mirrors here. The merger seems to produce an entity more difficult to find than Area 51.
What's their corporate motto: "The finest in stealth technology!"?
# posted by Anonymous Anonymous : 12:48 pm
 
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