Northern Educate buys Vadnais Sports Center

MNHockeyFan · Post by **MNHockeyFan** » Thu Oct 24, 2013 11:57 pm

Article in the Star Tribune confirming the purchase price of $13 million is subject to Northern Educate obtaining financing to "close the deal".

http://www.startribune.com/local/east/229153451.html

Marty McSorely · Post by **Marty McSorely** » Fri Oct 25, 2013 8:41 am

Who are the financial backers of Northern Educate?

MNHockeyFan · Post by **MNHockeyFan** » Fri Oct 25, 2013 10:17 am

Marty McSorely wrote:Who are the financial backers of Northern Educate?

Good question. But I think it goes without saying that with this purchase they're going to need more of them.

Tenoverpar · Post by **Tenoverpar** » Fri Oct 25, 2013 10:18 am

More important than the "academy"....Does this mean we have to go back to playing White Bear teams at the old, dirty, white bear'ish rinks?

JoltDelivered · Post by **JoltDelivered** » Fri Oct 25, 2013 10:46 am

Tenoverpar wrote:More important than the "academy"....Does this mean we have to go back to playing White Bear teams at the old, dirty, white bear'ish rinks?

Seeing that NE encourages their kids to play association hockey during the winter, I don't think you will see the White Bear youth program migrate away from VH anytime soon.

fastncrash · Post by **fastncrash** » Fri Oct 25, 2013 4:53 pm

No offense to Northern Educate by any means, but whoever spearheaded the turn-down of $10.55M CASH, should be removed of their duties.

WarmUpTheBus · Post by **WarmUpTheBus** » Sat Oct 26, 2013 8:17 am

fastncrash wrote:No offense to Northern Educate by any means, but whoever spearheaded the turn-down of $10.55M CASH, should be removed of their duties.

The bond holders wanted the Northern Educate bid. They will still get a 50%+ haircut. I believe Northern Educated should be able to find financing to pay $13 million for a facility that cost $26 million to build.

MNHockeyFan · Post by **MNHockeyFan** » Sat Oct 26, 2013 10:33 am

WarmUpTheBus wrote:I believe Northern Educated should be able to find financing to pay $13 million for a facility that cost $26 million to build.

I think the building's actual market value and its projected cash flow will be more important than its original construction cost.

goaliewithfoggedglasses · Tue Oct 29, 2013 10:19 am

MNHockeyFan wrote:
WarmUpTheBus wrote:I believe Northern Educated should be able to find financing to pay $13 million for a facility that cost $26 million to build.
I think the building's actual market value and its projected cash flow will be more important than its original construction cost.

Seriously. And I'd love to see the assumptions built into any business plan that claims to be able to service that debt. This thing will be back on the market in 3 - 5 years.

inthetwine · Post by **inthetwine** » Tue Oct 29, 2013 2:59 pm

I know it won't happen, but I would like to see White Bear move back to Aldrich. Vadnias has the worst seating for fans. Whoever designed it has never been to a hockey game.

gardetto · Post by **gardetto** » Wed Oct 30, 2013 10:31 pm

goaliewithfoggedglasses wrote:
MNHockeyFan wrote:
WarmUpTheBus wrote:I believe Northern Educated should be able to find financing to pay $13 million for a facility that cost $26 million to build.
I think the building's actual market value and its projected cash flow will be more important than its original construction cost.
Seriously. And I'd love to see the assumptions built into any business plan that claims to be able to service that debt. This thing will be back on the market in 3 - 5 years.

I doubt that The Woodcrofts have plenty of NHL backed money.

Marty McSorely · Post by **Marty McSorely** » Thu Oct 31, 2013 8:16 am

Who are the Woodcroft's?

old goalie85 · Post by **old goalie85** » Thu Oct 31, 2013 8:55 am

Craig Woodcroft owns NEEHS/Reebok Nats. Based out of St. louis.

inthetwine · Post by **inthetwine** » Thu Oct 31, 2013 5:31 pm

The White Bear Press article said Northern Educate is the biggest user of the facility. How do they make a go of it if they are renting time to themselves?

WarmUpTheBus · Post by **WarmUpTheBus** » Thu Oct 31, 2013 6:49 pm

inthetwine wrote:The White Bear Press article said Northern Educate is the biggest user of the facility. How do they make a go of it if they are renting time to themselves?

Now they won't have to use tuition to buy ice time for one thing.

57special · Post by **57special** » Fri Nov 01, 2013 8:33 am

I hope you at kidding.

goaliewithfoggedglasses · Fri Nov 01, 2013 3:30 pm

Ice Arenas are expensive to operate. Last year Braemar, which has been around forever and probably has very little capital depreciation, LOST $640K. The annual interest on 13 million at 5% is $650K, let alone any principal payment. Best of luck to them but I just don't see it. I would have taken the cash offer.

57special · Post by **57special** » Fri Nov 01, 2013 3:38 pm

Are you sure about the Braemar figure. It was less than half that the year before (2011). Maybe that's with all the new construction written in ?

MNHockeyFan · Post by **MNHockeyFan** » Wed Dec 11, 2013 9:18 pm

Update on Northern Educate's pending purchase of the Vadnais Sports Center and their decision to cut operations in Eagan and at the National Sports Center. The article does not explain what impact, if any, these cutbacks could have on its pending purchase which was subject to obtaining financing.

http://www.startribune.com/local/east/235501011.html

Also, if the purchase falls through what impact might this have on Achiever Academy?

MrBoDangles · Post by **MrBoDangles** » Thu Dec 12, 2013 7:19 am

MNHockeyFan wrote:Update on Northern Educate's pending purchase of the Vadnais Sports Center and their decision to cut operations in Eagan and at the National Sports Center. The article does not explain what impact, if any, these cutbacks could have on its pending purchase which was subject to obtaining financing.

http://www.startribune.com/local/east/235501011.html

Also, if the purchase falls through what impact might this have on Achiever Academy?

Sounds like achiever went down with it. Kids have been looking for other places to play for a while.

BP · Post by BP » Thu Dec 12, 2013 7:56 am

Is this whole thing done then? NE and AA?

inthetwine · Post by **inthetwine** » Thu Dec 12, 2013 8:47 am

Talk arund the stadium at last Saturday's game was that they are also buying out WBL's contract to play thier games there, and WB wll have to find new home ice for next year. I would love to move back to Aldrich.

Tenoverpar · Post by **Tenoverpar** » Thu Dec 12, 2013 10:27 am

I'm just wondering what would of happened if Woodbury had approved the 8 rink complex, privately owned, like 5 years ago..

bemused · Post by **bemused** » Thu Dec 12, 2013 10:28 am

inthetwine wrote:Talk arund the stadium at last Saturday's game was that they are also buying out WBL's contract to play thier games there, and WB wll have to find new home ice for next year. I would love to move back to Aldrich.

Looks like you will be playing in the the newest Ramsey Co. arena..the Vadnais Sports Center

inthetwine · Post by **inthetwine** » Thu Dec 12, 2013 10:56 am

Sounds to me like they are canceling arena rentals because they have their own arena.

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Northern Educate buys Vadnais Sports Center

Northern Educate buys Vadnais Sports Center

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