Predators Boss Faces Financial Woes

Predators Owner David Freeman yesterday acknowledged that he "has had personal cash flow problems and is having to sell off assets" to pay a $3.3M lien "placed on him earlier this year by the IRS for not paying taxes," according to Brad Schrade of the Nashville Tennessean.

Freeman in an e-mail to Predators staff said, "I am toward the end stages of liquidating additional assets and paying my tax obligations in full and with the knowledge and cooperation of the IRS."

Freeman called the matter "very complicated," and declined to offer many details.

Schrade notes the tax period in question ended in '07, the same year Freeman "led a group of mostly local businesspeople who bought the Predators" from Craig Leipold.

Freeman yesterday alluded to the financial scandal surrounding former Predators investor William "Boots" Del Biaggio III as the "root of his current problems that led to the lien being filed in May."

The situation "did not seem to concern" Nashville Mayor Karl Dean, who said, "We have a lease that protects the taxpayers of the city."

News of the lien came out after the Predators last week filed a lawsuit against the Sommet Group for "failing to pay its naming rights fee" (Nashville TENNESSEAN, 12/1).

NHL Deputy Commissioner Bill Daly said the league is "not concerned" about the financial state of the Predators. The team is averaging 13,712 fans through the first 13 home games this season, down about 1,300 a contest from last season, which "could lower the amount the team will receive under the NHL's revenue-sharing plan" (GLOBE & MAIL, 12/1).

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