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Lawsuit: Thrashers' value dropped $50M

Updated: January 21, 2011, 9:09 PM ET
Associated Press

ATLANTA -- The owners of the Atlanta Thrashers claimed Friday to have lost more than $130 million since 2005 and at least another $50 million on the plummeting value of the NHL franchise because of a bitter dispute that ruined their plans to sell the team.

The ownership group, known as Atlanta Spirit, revealed its financial woes in a lawsuit against one of the city's most prominent law firms, claiming faulty legal work is largely to blame for its predicament.

The lawsuit filed in ...

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