Current
After months of poor attendance and mounting debt in their inaugural season, the Matadors franchise was folded in 1999. During the sale of the team, a lawsuit was filed by Robert Alterman accusing the team's general partners (Robert Snyder and Robert Davis) of fraud. Alterman, a limited partner who has a 20% ownership share of the team, accused both Snyder and Davis of selling the team for well below the value that was represented to Alterman. Davis and Snyder had listed the team as being for sale for $1.2million. Alterman argues in his lawsuit that Davis and Snyder informed him that no team could be sold for less than $2million
The team was eventually sold to a Birmingham, Alabama ownership group. Upon the folding of the IHL, the ownership relocated the Matadors' franchise and bought the rights to the Cincinnati Cyclones name that had been used since 1992. On July 16, 2001, it was confirmed that the "new" Cyclones franchise would start play as an ECHL team during the 2001-2002 season.
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Famous quotes containing the word current:
“We set up a certain aim, and put ourselves of our own will into the power of a certain current. Once having done that, we find ourselves committed to usages and customs which we had not before fully known, but from which we cannot depart without giving up the end which we have chosen. But we have no right, therefore, to claim that we are under the yoke of necessity. We might as well say that the man whom we see struggling vainly in the current of Niagara could not have helped jumping in.”
—Anna C. Brackett (1836–1911)
“Through this broad street, restless ever,
Ebbs and flows a human tide,
Wave on wave a living river;
Wealth and fashion side by side;
Toiler, idler, slave and master, in the same quick current glide.”
—John Greenleaf Whittier (1807–1892)
““I” is a militant social tendency, working to hold and enlarge its place in the general current of tendencies. So far as it can it waxes, as all life does. To think of it as apart from society is a palpable absurdity of which no one could be guilty who really saw it as a fact of life.”
—Charles Horton Cooley (1864–1929)