Chynoweth family now owns 100% of ICE
Jeff Chynoweth, owner and president of the Kootenay ICE, today announced that his family has purchased the 24.5% ownership stake of the club from Rob and Scott Niedermayer.
The Chynoweth family now owns 100% of the Kootenay ICE.
“We had hoped to sell our share of the Kootenay ICE to the Niedermayers, but unfortunately after we met the price they presented to my family in June 2015 they did not accept our offer,” Chynoweth stated in a news release on the ICE website.
“Despite ongoing efforts, no other local investors have come forward with an offer to purchase shares in the franchise. Moving forward this transaction gives clarity to our ownership structure and will hopefully quell the rumours regarding our intent to continue operating the Kootenay ICE as we have since relocating the franchise to Cranbrook in 1998.
“We are looking forward to the 2016-17 season, including having the first overall selections in the WHL Bantam Draft (May 5) and CHL Import Draft (June 28),” continued Chynoweth.
The right to select first overall follows the club’s only non-playoff season in the Western Hockey League since relocating to Cranbrook from Edmonton.
Rob and Scott Niedermayer have been minority owners of the Kootenay ICE since the 1998-99 season. Originally, they were part of a group of four local investors who purchased 49% of the club from the late Ed Chynoweth in December 1998. In September 2001, the Chynoweth Family increased its ownership share to 75.5% when two of the original partners decided to sell.