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GPS Goes Bankruptcy Route

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    #16
    The gps die heads think this is all false and the club will be fine and legacy are totally transparent.

    Tell that to the gps Canada employees who got notified of termination by payroll..stay classy gps

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      #17
      GPS has $2.2 of revolving credit card debt. After losing all of their franchises this year (California, Rhode Island, Canada, etc.) and with the camp business in the sh*tter because of COVID, and after mass defections of coaches and players in Massachusetts, how will GPS possibly pay off that debt?

      It isn't possible.

      And Legacy's financial problems are massive and creditors will not wait. Hockey was 50% of Legacy's business and that is gone. GPS was the majority of what remains at Legacy and GPS is now in dire straights too.

      The bottom line is that GPS and the other remaining Legacy assets will be liquidated very soon to pay off creditors as much as possible.

      As the OP said, any parent that pays GPS even a dollar now absolutely has to be brain dead. This is the end for GPS. Period.

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        #18
        Holy crap, batman!!!!!!!!!!!

        Comment


          #19
          This is the end.

          Comment


            #20
            I am calling time of death.

            Comment


              #21
              Dead on arrival.

              Comment


                #22
                Originally posted by Unregistered View Post
                Dead on arrival.
                appears so

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                  #23
                  The GPS goose is finally cooked. Anyone who pays them another nickel automatically qualifies for the Darwin Awards.

                  https://darwinawards.com/

                  Comment


                    #24
                    This is priceless. Flatliner______________ Done.

                    Comment


                      #25
                      This is what happens when you F with the wrong people who are really connected. They messed with the Bull and got the Horns.

                      Comment


                        #26
                        Originally posted by Unregistered View Post
                        So let me get this straight

                        - gps Cali closed
                        - gps Toronto closed
                        - gps Carolinas gone to surf
                        - gps ri gone to surf
                        - gps in 2.2 million debt
                        - gps haven’t paid any winter facilities
                        - gps didn’t pay ref
                        - gps furlough all coaches

                        Gps parent company filing for bankruptcy? Seems to be pretty much a certainty given all that has transpired.
                        No offense but not paying winter facilities or refs is not that uncommon among clubs. Guarantee quite a few are not paid up.

                        Comment


                          #27
                          Originally posted by Unregistered View Post
                          Hockey debts finally caught up with LGS.

                          Soccer debts ($2.2m) won’t be far behind.
                          Legacy Global Sports will be forced into bankruptcy (process has started) and at that point any money paid to GPS for future programming is liable to disappear down a black hole.
                          So long gps

                          Comment


                            #28
                            I sure do hope people don't look stupid when GPS is around in the fall!

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                              #29
                              Originally posted by Unregistered View Post
                              This is what happens when you F with the wrong people who are really connected. They messed with the Bull and got the Horns.
                              Yuh okay. Keep posting to yourself.

                              Comment


                                #30
                                Originally posted by Unregistered View Post
                                This is what happens when you F with the wrong people who are really connected. They messed with the Bull and got the Horns.
                                Well put

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