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View Full Version : The Richard Peddie Era is over



LittleOzzy
11-10-2010, 12:59 PM
Fan590 reported and then was picked up by media on twitter


Multiple sources confirm Richard Peddie is being replaced as President/CEO of MLSE.

How will this effect TFC if at all?

Beach_Red
11-10-2010, 01:08 PM
Depends who takes over, but likely the consulting plan TFC has started on will contnue as it is.

[NBF]
11-10-2010, 01:08 PM
nice!:) To be replaced by Paul Anselmi I can only hope :deadhorse:

J .
11-10-2010, 01:09 PM
Hopefully that the team will start winning.

Since Peddie Took over MLSE teams have been worse than ever. At least he can build condos...

Auzzy
11-10-2010, 01:10 PM
;1164548']nice!:) To be replaced by Paul Anselmi I can only hope :deadhorse:

Does Tom have a brother?

Oldtimer
11-10-2010, 01:12 PM
Does Tom have a brother?

Yes. Fake Tom. :lol:

tfcleeds
11-10-2010, 01:16 PM
Don't see the culture of MLSE changing at all, as long as the OTPP continues to have their stake.

As far as TFC is concerned specifically, I expect impact to be minimal.

Suds
11-10-2010, 01:16 PM
Based on what I've read is this is the start of a process ... in other words, he has not been fired, but it looks like it's time for a new CEO at MLSE.

Could be Peddie or MLSE has decided he's done what he set out to accomplish and now MLSE needs a new CEO for the future.

Beach_Red
11-10-2010, 02:10 PM
Don't see the culture of MLSE changing at all, as long as the OTPP continues to have their stake.




Why, do their other holdings have the same culture? They've been quite ruthless in other areas. When they had a big stake in CTV it was always the top rated network in the country.

Is it the OTPP that stamps a culture on the holdings, or the CEOs?

Sullivan
11-10-2010, 02:52 PM
With any luck the clock on Anselmi is running out as well....

MLSE needs to take a page from the Whitecaps book and hire a TFC version of Paul Barber, formerly from Tottenham Hotspur, now the new chief executive officer of the Whitecaps, oversees everything football related. And as a matter of clarity, it needs to be a footy man, but not necessarily from an EPL club.

TFC's FO needs the football culture influence, top to bottom, the increased footy IQ would go a long way outside of the FO.

Red CB Toronto
11-10-2010, 03:03 PM
Richard is 64 years, has been very successful in building MLSE into the company that it is today, has held the top spot for 12 years. This is simply the early stages of a succession plan, the process is very common is the corporate world and quite often the person currently holding the position take part in the search process.

boban
11-10-2010, 03:46 PM
Hopefully that the team will start winning.

Since Peddie Took over MLSE teams have been worse than ever. At least he can build condos...
Not even that. They were built by Lantera and other companies.
MLSE just whored out the name.

boban
11-10-2010, 03:48 PM
Why, do their other holdings have the same culture? They've been quite ruthless in other areas. When they had a big stake in CTV it was always the top rated network in the country.

Is it the OTPP that stamps a culture on the holdings, or the CEOs?
Bit in those industries they faced real strict competition.
With the Maple Leafs they don't. It's all about monopoly.

boban
11-10-2010, 03:49 PM
Don't see the culture of MLSE changing at all ....
:thumbsup:

TFC&SpursGuy
11-10-2010, 03:54 PM
http://www.thestar.com/sports/hockey/nhl/mapleleafs/article/888663--peddie-says-he-won-t-retire-yet?bn=1

TFC07
11-10-2010, 04:08 PM
http://www.thestar.com/sports/hockey/nhl/mapleleafs/article/888663--peddie-says-he-won-t-retire-yet?bn=1

That makes sense. In MLSE POV, it is hard to fire someone who has made a lot of money for them.

69Chevy396
11-10-2010, 04:22 PM
At MLSE anything can happen. Daryl Sittler could be made president as easily as John Tory, Dale Lastman, or the ghost of Harold Ballard....no way to predict, but they do like to move unqualified people within the organization to positions of responsibility where their true talent can be put on public display. In other words, don't expect anything better than Peddie.

tfcleeds
11-10-2010, 04:57 PM
Why, do their other holdings have the same culture? They've been quite ruthless in other areas. When they had a big stake in CTV it was always the top rated network in the country.

Is it the OTPP that stamps a culture on the holdings, or the CEOs?

I wasn't stating that OTPP stamps the culture on holdings. I just meant that even before the OTPP had a controlling interest, MLSE were quite content with their profit-making machine as long as they had a sold-out arena, and merchandise flying off the shelves; the relative on-the-ice/court whatever success of their teams wasn't the primary concern as long as the money rolled in. Now that they have mandates handed down to them by the likes of Bertram, Silvestri et al, to achieve certain targets for annual profit increases and returns, they will even be less likely to fix what ain't broke. Bottom line - there is no real incentive to improve on the field performance if the status quo off it is already proving to be successful. I don't think OTPP cares how long it takes for MLSE's sports properties to win championships as long as MLSE continues their excellent performance off the pitch/ice/court.

jloome
11-10-2010, 05:08 PM
Richard is 64 years, has been very successful in building MLSE into the company that it is today, has held the top spot for 12 years. This is simply the early stages of a succession plan, the process is very common is the corporate world and quite often the person currently holding the position take part in the search process.

An investment expert on this site already broke down the company's gains under Peddie and their annualized rate of return was something like 7%. So, personally successful, maybe. But building a weak rate of return out of millions in existing capital isn't exactly laudable.

Let's keep in mind how disconnected MLSE's operational plan for TFC was from reality. And yet it still profits hand over fist.

Why is it that every time someone is given other people's money to fool around with he automatically gains some measure of credibility without having to in any way really excel?

ensco
11-10-2010, 08:04 PM
One thing Real Tom and Fake Tom would agree on is this: Peddie should play no part in this process.

king dave
11-10-2010, 08:18 PM
I wasn't stating that OTPP stamps the culture on holdings. I just meant that even before the OTPP had a controlling interest, MLSE were quite content with their profit-making machine as long as they had a sold-out arena, and merchandise flying off the shelves; the relative on-the-ice/court whatever success of their teams wasn't the primary concern as long as the money rolled in. Now that they have mandates handed down to them by the likes of Bertram, Silvestri et al, to achieve certain targets for annual profit increases and returns, they will even be less likely to fix what ain't broke. Bottom line - there is no real incentive to improve on the field performance if the status quo off it is already proving to be successful. I don't think OTPP cares how long it takes for MLSE's sports properties to win championships as long as MLSE continues their excellent performance off the pitch/ice/court.

Agreed.
But with the worth of the OTPP pegged at over $98 billion now and not much more room for further growth and an ever increasing number of it's plan holders retiring in the next several years, there will be some pressure to sell off some of it's holdings/assets in the coming years.

I would dream of a day where the some professional Toronto sports franchises are sold/bought/operated/invested in just as any other business model where failure means one thing and success means entirely something else.
KD.

ag futbol
11-10-2010, 09:27 PM
They can replace whoever they want, the culture of the larger organization will still remain. Unless the new guy somehow sells the board on winning being a key ingredient in profit growth, expect more of the same.

They aren't against winning, it's just not very high on the list. Hence why we struggle to do it.

billyfly
11-10-2010, 09:33 PM
I've often wondered if I was a server at a restaurant that Peddie was in, would I piss in his soup.

Red CB Toronto
11-10-2010, 09:34 PM
An investment expert on this site already broke down the company's gains under Peddie and their annualized rate of return was something like 7%. So, personally successful, maybe. But building a weak rate of return out of millions in existing capital isn't exactly laudable.

Let's keep in mind how disconnected MLSE's operational plan for TFC was from reality. And yet it still profits hand over fist.

Why is it that every time someone is given other people's money to fool around with he automatically gains some measure of credibility without having to in any way really excel?

How do we know the finance records of a privately held company?

billyfly
11-10-2010, 09:37 PM
Peddie has done well at the obvious.

The Leafs were HUGELY undervalued in the Ballard years.

To me he is a failure even in profitability terms b/c of all the playoff money left on the table by his shitty performing teams.

MLSE is the opposite of the Midas man when it comes to winning.

AL-MO
11-10-2010, 09:43 PM
Everyone should thank King Dave for chasing him out!

ensco
11-10-2010, 09:49 PM
How do we know the finance records of a privately held company?

This is the analysis I think he's referring to. Every one of these figures is in the public domain. (btw it's 5.5% not 7%)

http://64.13.252.151/forums/showthread.php?p=1143334&highlight=afternoon+October#post1143334

billyfly
11-10-2010, 09:50 PM
Under this man's guidance, the Logo that I love has been used to break my and many other's hearts over and over again.

MLSE have pimped the Maple Leaf.

king dave
11-10-2010, 10:03 PM
Under this man's guidance, the Logo that I love has been used to break my and many other's hearts over and over again.

MLSE have pimped the Maple Leaf.
Had a discussion this week with some Leafers @ my local and discussed how the last 2-3 generations of hockey kids in Ontario were raised adoring the Leafs and, with some skill/luck, could one day be recruited by the club.
Not growing up as a rink-rat, I only had 2 questions for my mom as a boy trying to find a team to support.
1. Why do they always lose?
2. When will they win?

Mom always said.
1. Cause they stink!
2. They'll never win because they stink!
KD.

jazzy
11-10-2010, 10:14 PM
With any luck the clock on Anselmi is running out as well....

MLSE needs to take a page from the Whitecaps book and hire a TFC version of Paul Barber, formerly from Tottenham Hotspur, now the new chief executive officer of the Whitecaps, oversees everything football related. And as a matter of clarity, it needs to be a footy man, but not necessarily from an EPL club.

TFC's FO needs the football culture influence, top to bottom, the increased footy IQ would go a long way outside of the FO.

there is no way a sports guy is going to replace him, ot will be business all the way.....there are only so many condos one can build.......you see they have their top sports guys already, They want a big cheese garunteeing their 20%...IMHO

Hitcho
11-11-2010, 07:52 AM
What if they replace him with someone who has a hard on for TFC? It's still a pension plan company, but wouldn't hurt to have someone who'd been to a few games and loved the atmosphere and the growing nature of the sport in charge. Might swing some marginal decisions ion our favour or tip some bigger ones over the edge.

Just a thought...

menefreghista
11-11-2010, 08:23 AM
I was browsing the online comments to the articles about Peddie in the Star and Globe. Its amazing how universally hated and despised the man is by the Toronto sporting fan base.

I'm tired of reading peopled defend the man because he made MLSE money. Who gives a shit.

I also wonder how Peddie could ever be proud of his legacy. Who would want to be remembered as the guy that led his teams to epic mediocrity while still making boatloads of money? That's nothing to be proud of.

billyfly
11-11-2010, 10:10 AM
The Maple Leaf is the symbol of Canada. Conn Smythe did this on purpose and men like Peddie have used this badge to make money and in return produce civic embarassment

ensco
11-11-2010, 10:12 AM
Right on cue...he calls a reporter in to tell us all that he's involved in the search. The reporter doesn't realize what a serious breach of corporate governance this is, and lets it pass.

http://www.theglobeandmail.com/sports/hockey/peddie-addresses-rumour-hes-being-replaced-at-mlse/article1793789/

Also, hilariously, Peddie has now worked Grange up to a $2 billion valuation (from $1.7 billion a month ago). Grange still can't be bothered to look up the Globe story last year, where an actual transaction (ie not a figure pulled out of someone's keister) valued MLSE at $1.1 billion.

Peddie is out of control. Last month he insulted the mayoral candidates, one of whom MLSE would be married to for years. Now he's speaking of himself in the third person and speaking about his own job security, a task which rightfully rests with the Chairman of the Board.

He is breaking every governance rule in the book.

The Teachers have a huge problem with this guy. It's obvious now.

billyfly
11-11-2010, 10:16 AM
OTPP are behind this.

Whoop
11-11-2010, 10:21 AM
OTPP will just find some other business man to run the venture. Won't be a sports guy.

They going to bring in Paul Beeston or Stan Kasten?

menefreghista
11-11-2010, 10:27 AM
OTPP will just find some other business man to run the venture. Won't be a sports guy.

They going to bring in Paul Beeston or Stan Kasten?

Kasten is rumoured to be in line for the MLB commish job.

billyfly
11-11-2010, 10:38 AM
^So is Gary Bettman.

With Kasten's stated opinion of Sports Agents, if he got the MLB gig, that would be interesting!

Whoop
11-11-2010, 10:38 AM
It will be another suit, with the main purpose will be to continue to make lots of money.

Name a sportsman/businessman who could do the job.

One guy that comes to mind is Paul Beeston and even then I don't know how he would do with the non-sports related stuff that MLSE does.

billyfly
11-11-2010, 10:40 AM
It will be another suit, with the main purpose will be to continue to make lots of money.


This I am pretty sure of as well.

stugautz
11-11-2010, 11:49 AM
I don't think it's possible to have a worse streak of not making the playoffs across multiple leagues than Peddie does. Good riddance.

Detroit_TFC
11-11-2010, 11:59 AM
It's Jurgen Klinsmann. He did ask for total control, didn't he? :)

ensco
11-11-2010, 12:51 PM
I have changed my avatar and signature to better reflect the situation at MLSE/TFC, after reading the Peddie story in the Globe today.