Giants continue under Trust as ownership battle rumbles

When the going gets tough, the tough get going was the old phrase that springs to mind.

The building drama concerning the proposed new owner of the Belfast Giants, Christopher Knight, took a dramatic new twist for the Belfast ice hockey team.

The Odyssey Trust, which operates their home venue, has moved against American investor Christopher Knight over “major issues” it was revealed today.

Knight bought a 90% controlling share from long-term owner Jim Gillespie last November – for a reported £145,000 – but has now been left owning a club with no players or venue.

All the players, to a man, have signed up to a new company intending to keep the Belfast Giants name and remain at the Odyssey, but under a new management regime.

It is understood that the Odyssey Trust first intervened at the start of the month, activating a clause in its contract with the Giants over the use of the arena.

An agreement was put in place allowing the Giants to keep playing at the Odyssey, as long as Mr. Knight committed to selling is stake in the club.

The Odyssey Trust sought to buy him out, but no deal was reached as the agreed deadline of last Friday passed and the agreement around the use of the venue was terminated.

But weekend games, including a fundraiser for Breast Cancer Care, went ahead after the players wrote to Knight claiming their contacts were no longer in effect.

Brian Burke of the Odyssey Trust stated. “We would like to assure the loyal Belfast Giants fans that we are committed to protecting the excellent reputation and long-term future of the team.”

Giants General Manager Todd Kelman had already resigned from Knight’s company days earlier, but has now joined the new company established by the Odyssey Trust as a consultant. As well, Doug Christiansen will continue as the Head Coach within the new company.

It is understood that, while the Odyssey Trust claims to have taken control of the naming rights, as Mr Knight did not own them. He retains merchandising rights and disputes the right for a new team to be created.

But it is understood that unless a third party seeks to buy the club, the Odyssey Trust intends to retain ownership going forward and secure the Giants’ future.

“We became aware of major issues relating to the new owner of the Belfast Giants on February 1st,” Brian Burke, chairman of the Odyssey Trust, said.

“We immediately moved to protect the Odyssey complex by conditionally terminating the Belfast Giants (2008) Ltd’s contract to play at the Arena, while entering into a without prejudice agreement to ensure the team continued with its games and its commitment to the league and its fans until the end of the season.

“Today, the entire staff – including players and administrators – will be signed to an Odyssey Trust owned company, permitting the team to finish the season and continue the battle to retain their title.”

The Belfast Giants are looking to defend their title after winning the Elite league last season.

“This has not been an easy period for the Belfast Giants, but it is highly commendable that the players – who were without contracts – fulfilled their commitment to the team’s two games this past weekend, including helping to raise money for the team’s nominated charity at the match on Friday evening,” Burke added.

A lawyer for Mr Knight said that her client did not want to comment on what she said were private negotiations with the trust.

“The discussions between the Odyssey Trust and Christopher Knight are confidential,” she said.

The Giants had the battle of all battles to retain the Elite League title before this broke. Now it’s a mountain to climb just to keep focused.