Posted: Jan 4 2018, 04:38 PM
The NSFL Commissioner has announced that the NSFL will be forcing Las Vegas Legion owner Geoff Biscuit to sell the team, citing "deep concerns for the finances and operations" of the Legion.
This announcement came very shortly after an NSFLN report that Biscuit had taken out a personal loan from his next door neighbor in order to cover the team's payroll for the S4 season.
Biscuit has a history of making poor financial and business decisions which has apparently led the Legion to fall into near-bankruptcy, always selling away future financial success for perceived short-term gain. A few examples include:
June 20: Biscuit signed the Legion to a $30m TV-deal with CMN, where CMN would have exclusive rights to airing Legion games for the next 50 years and would receive 90% of ad revenue.
July 12: Biscuit signed a contract with construction company El Vaquero LLC, agreeing to pay them $1m for parking lot renovations and giving them exclusive rights to all future stadium renovations. El Vaquero LLC only has one full-time employee and Biscuit reportedly chose them because they were the "cheapest."
July 28: Biscuit had approximately half of the Legion Coliseum's seats covered with advertisement tarps, accepting an up-front payment of $10m from the Golden Nugget Casino in exchange for allowing the Casino to cover up the seats with advertisements during every home game for 10 seasons.
September 26: Biscuit sold approximately 70% of the Legion Coliseum's parking lot space to Super Clean Energy Inc, who built a large trash-burning energy plant right next to the Coliseum.
October 13: Biscuit sold 49% of the Legion ownership shares to the City of Las Vegas for a symbolic $1 in an effort to receive public funding for new stadium renovations. Biscuit did not receive the public funding.
On December 8, in addition to multiple players retiring together, almost 80% of the Legion's team staff walked out as well, alleging that Biscuit had bullied employees into accepting lower pay which often wasn't paid out at all.
Finally, just a week ago, it was revealed that Biscuit had taken out a personal loan from a neighbor to cover his team's expenses. The NSFL has finally stepped in an demanded that Biscuit sell the team as soon as possible.
Meanwhile, as a result of intense Las Vegas lobbying, the Nevada Senate is seeking to pass legislation giving the City of Las Vegas the legal right to seize ownership of the Legion citing eminent domain.
The City of Las Vegas has reportedly told the NSFL that, should the Nevada legislation pass, they will seize the team.
Las Vegas mayor Ace Rothstein stated "We are fully committed to keeping the Las Vegas Legion in Las Vegas. Despite recent struggles and controversy, the team has become of great cultural importance for the city and we believe, with the right leadership, the team can find competitive and financial success. The Legion are going no where, not if I can help it."
The NSFL has stated that they do not expect the Nevada legislation to pass, and have given Biscuit a hard deadline to have sold the team by before they seize the team themselves.
While the Legion have certainly had a tumultuous past, it would appear that their entire future is up in the air. The City of Las Vegas owns 49% of the team, and it would appear that the Las Vegas mayor is fully committed to keeping the team in Vegas. Experts believe Biscuit will sell the team very shortly in order to resolve personal debt, possibly even by the end of tonight.
Las Vegas book keepers have the odds of the Legion leaving Las Vegas at 500 to 1.
This post has been edited by bovovovo: Jan 10 2018, 12:05 PM
Posted: Jan 4 2018, 05:40 PM
But what are the odds of LeClair scoring a TD against his former team in Week 2?
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