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Post by tostitos on Jan 22, 2008 20:08:07 GMT -4
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Post by dogcatcher on Jan 22, 2008 20:24:04 GMT -4
A little information about the new owner of the St. John's Fog Devils, Mr. Farrel Miller:
Mr. Miller is the Founder and CEO of SportTV.com, an internet distributor of live world class sport events from around the world. SportTV.com is a closely held company with extensive experience in the field of live streaming media, Mr. Miller has assembled a top level Management and Directors team in anticipation of the company’s launch in fall 2007.
Over the past fifteen years, Mr. Miller has been focused primarily on founding, operating, financing, advising and investing in early-stage technology companies. He has extensive startup operating experience and has personally driven and executed virtually all the phases of company building. He has a track record in raising venture capital, angel and strategic financing, strategic planning and positioning, management team building, new product development and launch, marketing and public relations, negotiating strategic partnerships, building and managing an internationally-distributed organization, and executing exit strategies.
From 2000 to 2005, Mr. Miller founded and served as CEO and Chairman of JumpTV Inc., the world’s largest online distributor of international TV channels, and a public company (London AIM & TSE markets) with a market capitalization of US$200M. JumpTV developed into a high growth media distribution company with a strong subscriber base and defensible market position. Mr. Miller served on the Board of Directors of JumpTV until 2006. Mr. Miller was honored in 2005 as a Finalist for the "Promie" Entrepreneur of the Year award in connection with the development and growth of JumpTV.
From 1999 to 2000, he co-founded, was co-chairman and served at various times as CEO of Giftworld.com, an ebusiness services and e-commerce startup. Giftworld.com was the third highest-rated gift site on the Internet by Gomez Advisors, a leading internet analyst firm. Giftworld.com was ultimately sold to Museum Company, a leading specialty retailer, in 2000.
Earlier in his career Mr. Miller was a venture capitalist at the Castle Group, focusing on very early-stage investments in the biotech, healthcare, media and information technology spaces, where he gained valuable experience identifying, sourcing and negotiating private equity and venture stage investments. During this tenure Mr. Miller introduced the first distribution of western companies' television advertising on Russian TV, which took place during the 1992 Winter and Summer Olympic Games telecasts.
Mr. Miller began his career as a corporate attorney with Rogers & Wells in New York City, currently merged as Clifford Chance Rogers & Wells LLP.
Mr. Miller has served as a regular guest lecturer at McGill University Faculty of Law and he is a frequent speaker at industry conferences on the application of copyright law to the internet and media related matters. He also serves as co-chairman of the annual Lila Sigal Marathon Hockey Tournament, an annual fundraiser for cancer research development.
Mr. Miller received a LL.B. Law degree and MBA Finance from McGill University, and a B.A. Economics from Brandeis University.
Mr. Miller resides in Montreal with his wife and two children.
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Post by tostitos on Jan 22, 2008 20:43:35 GMT -4
Maybe this move will knock some sense into the fans in Saint John and attract more to Harbour Station...just shows that a team can move at a whim.
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Post by berner on Jan 22, 2008 21:06:31 GMT -4
Well, I wouldn't say on a whim because th Fog Devils financial troubles have been talked about all year (and even last season) and the Q has always maintained a presence in Montreal is priority. Still, it's disappointing to see them go... the last to leave the AHL, the first to leave the Q.
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Post by ontariohockeyfan on Jan 22, 2008 22:08:35 GMT -4
Sorry to see St Johns sold I will not say I told you so but see what happens when costs get to high and support drops.Sounds like they got $3 Million for a franchise that started 2005-6 season.Pretty good return for 3 years.Hopefully people in other cities of any CHL team see this and say to themselves they (fans ) had better get out and support their team or this will happen again and it will happen as I said before this is more than a sport it is a Business.
P.S. Good luck to this new group in trying to put CHL (QMJHL ) team back in Montreal.Watch for the Q to possibly break their divisions into 3 divisions in the near future ( Atlantic,Montreal region, Eastern Quebec )
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Post by berner on Jan 22, 2008 22:19:46 GMT -4
3 million is pretty good?? Hmm, let's see... they paid 3 million to enter the league, lost 750k per season, and then sold for 3 million. Sound like a good return? Ask the ownership group, they might tell you something different.
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Post by ontariohockeyfan on Jan 22, 2008 22:32:56 GMT -4
Bernier the bottom line is they sold did they not and as I have said this is a BUSINESS and that will never change.Go support your team and everything will be all right if not well then you have seen what happened here (ST.Johns ) will happen some where else and you can take that to the bank because it will happen.
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Post by berner on Jan 22, 2008 22:51:35 GMT -4
Yes, they did sell it, I didn't dispute that OHF, but you said (and I quote) 'Sounds like they got $3 million that started 2005-06 season. Pretty good return for 3 years.' That's what I dispute. How in any way is that a good return???
You know, if you want to be taken seriously on this message board you might want to get some of your facts straight. When you prove time and again you don't know what you're talking about it gets really hard to read.
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Post by trouty on Jan 22, 2008 23:17:52 GMT -4
well guys guess on our 3 year bet to see which franchice would be in better shape us or the sea dogs im guessing you won hahahah
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Post by major on Jan 22, 2008 23:21:10 GMT -4
I hate to say it Trouty but told you so.....its a sad day in St. John's for sure!!!
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Post by canucklehead on Jan 22, 2008 23:46:05 GMT -4
well guys guess on our 3 year bet to see which franchice would be in better shape us or the sea dogs im guessing you won hahahah Well shit just came home from playing hockey and find this crap out sorry to hear the news Foggie Fans This is one bet I'd rather our guys not win at least not like this anyway. Sorry boyz!!! So is this Saturday the last home game against the Fog Devils? |
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Post by ontariohockeyfan on Jan 23, 2008 0:15:26 GMT -4
Berner first $3 Million well you said it cost the team ( St. John ) that amount to enter league.Then you said they lost $750,000.00 a year well that means the 3 million they got today means they got the expansion fee back.Which means the $750,000.00 they lost per year which means approx loss of $2 million .Seeing that this is a business there is tax breaks(every province is different )you and I donot know what they are but in most deals there are.So in essence that $2 Million loss is probably less than that.
Do not know what you are saying I do not know what I am talking about.Guess you do not like it when I say what is true that if you do not support your team there is a possibilty it will move.I could give you examples but I have in earlier posts (Re attendence).You have your points and I have mine so I leave it at that
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Post by bjindaho on Jan 23, 2008 2:41:48 GMT -4
Actually, it is a good deal because the team had an original value of 300K, with an annual debt of 75K, making it a depreciable asset. By selling for the original price, he has basically saved himself any yearly losses, which were inevitable due to a poor lease.
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Post by tostitos on Jan 23, 2008 7:08:27 GMT -4
Actually BJ the original value was 3 million, and they lost 750,000 in the two years, and are on pace to lose 1 million this year. I dont think they 500,000 travel was also included in there.
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Post by bjindaho on Jan 23, 2008 7:14:08 GMT -4
sorry, that was a typo. It looked small, but it was quarter to 3...
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