Turns out Boots was trying to lure new investors into the Nashville Predators by claiming the franchise had "Portability Value"; using a PowerPoint presentation to show that the team would not become financially viable and that "Del Biaggio-led investors could gain majority control, serving their agenda to buy a hockey team and locate it elsewhere" as early as 2010.
Nashville's lead owner and managing partner David Freeman told the paper that the owners entered into an agreement with Del Biaggio "with respectful distrust of his motives." That's always a good sign. Freeman meekly slams Del Biaggio's pitch to new investors as containing "falsehoods and inaccuracies," but never gets around to indentifying them to the paper.
Del Biaggio's financial collapse and federal investigation are obviously great news for Predators fans; but the fallout continues to be less than encouraging as far as the team's future in Nashville. Still, all of this falls back on the rest of the Predators' local ownership, who needed Boots's (now fraudulent) finances to solidify their bid. Cast your lot with an out-of-towner that clearly intends to one day own and operate a team outside of Tennessee, and this is what you end up with down the line.