It was reported in the Democrat and Chronicle today that Randall Latona and Walter Turek have committed to stabalizing the Amerks financial issues. They have put money into the organization to help with paying NHL franchise fee’s.
They also said that talks are ongoing with an investor coming in and buying a majority stake of the franchise, that seems to be the desired outcome by all.
“I can assure you, Randy’s commitment, with Walter as his partner, will not let this franchise fail,” she said. “They have committed funding in order to make this team successful.”
The one concern that should be raised is the following:
April 7, 2006 Randall Latona and Walter Turek formed an entity called T&L Funding Group, LLC which furnished a $2.1 million dollar financing package to the Rochester Americans. Of that loan approximately $700,000 went towards additional working capital, the rest to acquire existing debt.
That was 2 years ago, are we just going to end up back in the same situation in another 2 years if the same ownership group is involved? If $2.1 million dollars didn’t fix things then, what’s different about now? We’ll wait and see.
Here’s the Full article:
Owners say they’ll get [...]Read More