Barracudas seeking Council support for financial troubles


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  • | 12:00 p.m. May 21, 2004
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by J. Brooks Terry

Staff Writer

Last month, the City Council recognized the Jacksonville Barracudas hockey team for winning a championship. Now that the team finds itself on thin ice, they’re hopeful the Council hasn’t forgotten that.

In a letter addressed to Council president Lad Daniels, minority team owner Allan Schonberg said the Barracudas owed SMG, which manages the Jacksonville Veterans Arena, roughly $40,000 in back payments. Additionally, the team is required to replace a $60,000 deposit needed to secure a lease in the facility for next season.

Schonberg stressed the Barracudas are not seeking any City subsidies, but rather a powerful ally when negotiating a repayment plan.

“We would greatly appreciate it you could work with us and SMG to give us an extension of our deadline with SMG until June 30, 2004,” he said. “This would allow us time to transfer to local ownership and raise the needed capital to pay SMG, buy out Mr. Waronker’s shares and put the Barracudas back on a firm financial basis.”

Schonberg said majority owner David Waronker, who is based in Central Florida, was looking to sell his shares in the franchise. Waronker wants to focus his attention on the Orlando Seals, his “home team.”

Schonberg said a meeting has already been scheduled with “20 local businessmen that expressed interest in making the Jacksonville Barracudas a thriving locally owned enterprise.”

“At present, the Jacksonville Barracudas are in the process of reorganizing to obtain local ownership,” Schonberg said Thursday.

He declined comment on the cost of Waronker’s shares or on the identity of anyone interested in purchasing them.

Citing Waronker’s desire to sell his portion of the team and other costly “financial indiscretions” this year, Schonberg said the Barracudas’ longstanding financial hardships have been “exacerbated.”

“I think it would also be of interest to the Council to consider that we ‘lit up’ the Veterans Memorial Coliseum 30 nights this year entertaining over 107,000 fans,” he said. “During these 30 nights, SMG and other Jacksonville enterprises and citizens were able to significantly benefit financially from our franchise.”

Daniels, who was largely unfamiliar with the terms of the Barracudas’ lease agreement, has yet to take an official position on the matter.

However, he said he was unsure if the Council could or should lend a hand.

“You know, I feel and I know (SMG general manager) Bob Downey feels that this is just a matter of one party owing another party money, plan and simple” said Daniels. “I don’t really see what the Council has to do with it. We’re not in the business of collecting rent.

“I know the Barracudas have discussed a change in ownership and that’s fine, but this is a burden on the current ownership that they’ve had for a long time. You need to pay your bills.”

Downey did not return phone calls seeking comment.

 

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