Although Harley Hotchkiss is reportedly selling his 22 per cent stake in the Calgary Flames, he is not stepping back from his role on the board of directors said Flames president Ken King.
"His role and responsibilities have not changed at all from the board's standpoint," said King. "He's still very much involved. He's a vital and full member of the group."
Word leaked over the weekend that Hotchkiss has asked the National Hockey League's board of governors to approve the sale of his shares in the club to one or more members of the existing ownership group.
King wouldn't go into specifics but said that Hotchkiss, one of the original seven owners who brought the Flames to Calgary from Atlanta 30 years ago, is making an "adjustment to his holdings."
Hotchkiss is the last of the original ownership group to hold a financial stake in the club, said King, as B.J. Seaman made a similar holdings adjustment "quite some time ago." Seaman has remained an active member of the board of directors.
King said Hotchkiss is currently dealing with "significant and challenging health issues that like everything else he's ever dealt with, he's tackling head on."
Former Flames co-captain Jim Peplinski said the team's ownership group would be foolish not to accept the input of Hotchkiss in their decision making whether or not he owns shares.
"Having someone with not only the institutional memory Harley has, but the unquestioned selfless interest in what's best for the team, the game and the city is a huge asset," said Peplinski who has considered Hotchkiss and the late Darryl (Doc) Seaman as mentors in his post-hockey business endeavours.
"It would be wonderful to have Harley involved in any organization even if he never said anything. If you spend any time with Harley you'll learn something by osmosis."
The sale is expected to be approved at this week's NHL board of governors meeting. It's unclear which member or of the current ownership group, or members, will purchase the his shares.
It's also unclear what the value of his 22 per cent stake is. Just last week, Forbes magazine placed the Flames organization as the 13th most valuable franchise in the league at $206 million.
On Sunday, Hotchkiss spoke to the Herald's George Johnson and said:
"This team has been a big part of my life for 30 years, and will continue to be, but life changes," Hotchkiss said. I'll still go to the games, I'll still have my seats. I'll still be a fan and stay on in a director's role. My day-to-day involvement with the team won't change. I wouldn't want to be a part of something I couldn't contribute to. And I still want to do that, as long as I'm able."
He said his role with the team has evolved over time.
"In 2006 I stepped aside as chairman of the board of governors and in 2008 Murray (Edwards) assumed the role I'd undertaken for a long time. This is just a natural progression of that.
"I've put time and energy into the team because I've always believed the Flames are an important part of this community and that belief remains the same. We're having some challenges on the ice right now but we've been there before. And we're confident we'll get through this, too, like we have in the past.''
Hotchkiss said he will divest himself, pro rata with his current partners, of his 22 percent of the team "over time" - but would not be more specific. He said he's dealing with some "health issues" at the moment.
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