Leipold bought an expansion franchise from the NHL in 1997 for $80 million. He sold the Nashville Predators due to rising operating costs and low fan attendance. Leipold claims more than $70 million in losses during his tenure as owner of the Predators. Initially, Leipold had an agreement to sell the team to Jim Balsillie for $220 million, but he withdrew from the agreement after Balsillie started season ticket advertising for a move of the team to Hamilton, Ontario. The Predators were sold instead to an investor group that included William J. "Boots" Del Biaggio. The final sale price of the Predators was reported as $193 million. Leipold has gone on record objecting to Jim Balsillie becoming an NHL owner, stating that he doesn't trust Balsillie.