VIEW THE FULL VERSION : Prospect Info Chops get Chopped


MOENing
07-07-2009, 04:04 PM
http://www.iowachops.com/news/index.html?article_id=284

Ducks
07-07-2009, 04:28 PM
jeez, does anyone know the details of what the Chops did to make the Ducks leave and then the AHL suspend the team? I know it had something to do with financial obligations not being met but that's pretty vague.

Modo
07-08-2009, 03:00 AM
Apparently the team was being used as collateral.....

http://www.desmoinesregister.com/article/20090707/SPORTS1403/90707013/1091/SPORTS02/League-suspends-Iowa-Chops-from-playing-in-2009-10-season



Andrews declined to cite the specific violation, but The Des Moines Register reported last month that the club had used the franchise as collateral to obtain a loan in March 2008 from a North Carolina branch of Wachovia Bank.

Records obtained from Polk County have disclosed the loan amounted to $1.99 million and was used to cover operating costs.

Andrews has said such loans are not permitted under league rules.