5 things to know about new Preds owner David Siegel and his plans for the team

July 20--Yes. He's the guy from that documentary.

"The Queen of Versailles," a 2012 film documentary, followed time-share mogul David Siegel and his wife, Jackie. It showed Siegel's major financial troubles following the 2008 economic crises, which halted construction of "Versailles," a 90,000-square-foot home on Lake Butler.

A lot has happened since then. Most recently, Siegel, 79, purchased the Orlando Predators of the Arena Football League. Here are five things you should know about Siegel and the Predators:

--1. After the credits rolled, things got better

The film ended with the mansion abandoned and Siegel's company, Westgate Resorts, about to go under.

"As Mark Twain said, 'The rumors of [my company's] demise have been greatly exaggerated,'" Siegel said. "In September 2008, Lehman Brothers went bankrupt and all the banks froze. Our business, the time-share business, is very much dependent on borrowing money. So Westgate and all the other time-share companies out there had to pull in their horns and get lean and mean to survive.

"We all did. Now that we've changed our way of doing business, not being as dependent on financing, we're growing faster than we ever grew before and making more money than we ever did before."

Siegel went on to say the mansion is paid off and should be done in two years.

--2. Work is his only hobby

No fishing or weekends on the greens for Siegel. Other than family -- Jackie and 14 children -- work is his only focus.

When Siegel first visited the Las Vegas Hilton in 1970, then the International Hotel, he couldn't afford a room of his own so he stayed with his parents. Three weeks ago he bought the hotel.

Siegel's first job was as a paperboy when he was 4. He also had stints as a TV repairman and a deputy sheriff after leaving the University of Miami's marketing and management program.

He launched Westgate Resorts in 1982, now the largest privately owned company in Central Florida. Other business ventures include real estate, construction, hotel and apartment management, telecommunications, citrus, insurance and more.

--3. He's been a Preds fan for 23 years

Oh, and hot dogs are his favorite part of games.

"Back then, they sold more beer per capita than any other sporting event in Central Florida," Siegel said. "People had a good time. They let their hair down, relaxed, had fun, screamed, cheered.

"These [players] aren't millionaires hitting each other. These are hard-working guys really trying to establish themselves so they can go onto greater things."

--4. Terms of the Preds' new contract with Amway

Moving the Preds from UCF's CFE Arena back to Amway Center was a must for Siegel. The Predators used to play at Amway but defaulted on their lease.

The new contract won't be final until July 28 when the city council votes on it, but here's an overview:

A three-year contract covering 2015-17.

The Preds agree to pay the city $16,000 for each weekday game, Sunday through Thursday, and $20,000 for each weekend game. This is for lower-bowl use only. If they ever want to use the upper bowl, it'll cost an additional $5,000 -- for half of it -- and $10,000 for the whole thing.

For the first two years, all concession money will be split 50/50 between the city and the team. The third year 60 percent goes to the city and 40 percent to the team.

The Preds will have third priority when scheduling home games, behind the Magic and the Solar Bears.

The city gets parking revenue.

The team will need to comply with the advertising rights in the Orlando Events Center Use Agreement and the first amendment between the Magic and the city.

--5. The Orlando Predators aren't going anywhere

Siegel has no plans to shut down the team, move it anywhere other than to Amway Center or change its name.

"I did think once about calling it the Orlando Westgaters," Siegel said, jokingly. "The Preds name has been around for 23 years and people kind of know it. When you have a name that's recognized, you keep it.

"The only moves we're making are up and down the field."

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