Toledo Arena Sports Acquires ECHL Franchise
April 16, 2007 - International League (IL1)
Toledo Mud Hens News Release
The ECHL announced on Monday that the Board of Governors has unanimously approved a Transfer of Controlling Interest for the Toledo Storm Membership from Professional Hockey, LLC D/B/A Toledo Storm to Toledo Arena Sports, Inc.
The Board also unanimously approved the Storm's request for voluntary suspension for the 2007-08 season as the team plans to begin play in a new arena in Toledo in 2009-10.
The new ownership will commence at the end of the current 2007 ECHL hockey season.
A not-for-profit organization has been created to own and operate the new hockey franchise. This will guarantee a stable hockey operation that will sign a long-term lease in the new Lucas County Arena.
Net profits from the franchise operations will be dedicated to the mortgage on the Lucas County Arena.
Tim Gladieux, President of V/Gladieux Enterprises, Inc., said, "The Toledo Mud Hens have demonstrated great success in marketing the Mud Hens over the past five plus years, and I am confident that they will also demonstrate great success in their stewardship of the Toledo Storm Hockey team. The Mud Hens not-for-profit model can certainly apply to the management of the Toledo Storm and Arena Football in the new Lucas County arena that is planned for downtown Toledo. All of the residents of Northwest Ohio and Southeast Michigan stand to benefit from the new arena facility and the many entertainment opportunities that it will allow."
ECHL Commissioner Brian McKenna said, "We are pleased and proud to welcome the Mud Hens organization to the ECHL. While we are disappointed that hockey will have to take a brief hiatus, we also realize that it was unavoidable. A new state-of-the-art facility combined with the Mud Hens knowledge of the market, operational expertise and long-term commitment to Toledo will combine to keep the ECHL in Toledo for many years to come and provide fans with a first-class entertainment product. The ECHL would also like to thank the Toledo fans for their support over the years as well as the contribution of Tim Gladieux and Barry Soskin to hockey in Toledo."
Toledo Mud Hens President Mike Miller said, "We have considered the AHL and the ECHL and have come to the conclusion that the ECHL is the most appropriate league for the Toledo market. We have been unanimously accepted into membership by the ECHL Board of Governors."
Toledo Mud Hens General Manager Joe Napoli said, "The Lucas County Commissioners has asked us to take the responsibility of acquiring the professional sports teams that will play in the new Lucas County Arena. After much research and due diligence, we have concluded that the ECHL is the proper fit and look forward to introducing a fan-friendly and family oriented product in the fall of 2009."
"Lucas County is thrilled that Toledo Arena Sports, Inc. has secured the Storm franchise as the first tenant in our new Arena. Hockey has a long tradition in our community and today's significant milestone ensures that hockey will be a fixture for decades to come," said Commissioner Pete Gerken on behalf of Lucas County.
Pat Zohn of Gateway Consulting said, "The acquisition of a beloved Toledo hockey franchise by an organization whose staff operates the Mud Hens is a very positive sign for the Northwest Ohio community. A longstanding community organization that is well respected and successful both locally and nationally is extending itself to assure that high level professional hockey will be played in Lucas County and downtown Toledo for a very long time. And while there will be a short term absence, it is a small price to pay for the long term existence of hockey for the enjoyment of many generations of sports fans in Northwest Ohio."
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