Arizona Coyotes Lounge XXV

[TheLegend]

The last one was beginning to smell like a boiler room urinal.... so we needed a new one.

Click to read more...

 

[Summer Rose]

The last one was beginning to smell like a bpi;er room urinal.... so we needed a new one.

We should continue to talk about Taylor Swift in here.

 

[MIGs Dog]

We should continue to talk about Taylor Swift in here.

totally...for sure. what's her favorite color?

 

[Summer Rose]

totally...for sure. what's her favorite color?

Her favorite color is purple and so is mine.

 

[TheLegend]

We should continue to talk about Taylor Swift in here.

I agree.... Swiftie talk needed a better venue.

 

[Dirty Old Man]

I agree that bear thingie looks weird...but...isn't 'Bear' our coach's nickname?

 

[TheLegend]

Just found a new Yotes ad on Facebook

They're gving away mullet wigs again at the home opener..... this year they connected to a trucker hat.

 

[Kai Yo T]

 

[TheLegend]

 

[MIGs Dog]

We should continue to talk about Taylor Swift in here.

The Chiefs are undefeated when T Swift is in the house.

 

[Jamieh]

Anyone need a player for rec hockey this winter? Will be in AZ from just before Christmas until the end of March. Not interested in contact.

 

[Jakey53]

Anyone need a player for rec hockey this winter? Will be in AZ from just before Christmas until the end of March. Not interested in contact.

Chicken s---. Bringing the ex with ya? Or are you on the prowl?

 

[Jamieh]

Chicken s---. Bringing the ex with ya? Or are you on the prowl?

Solo.....long past the point in life that I need to assert my manhood into a sport regularly.

 

[The Feckless Puck]

In case anyone ever asks why Alex Meruelo would ever want to buy a sad sack franchise like Arizona, you can send them this:

The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes

Owners like Steve Ballmer can take the kinds of deductions on team assets — everything from media deals to player contracts — that industrialists take on factory equipment. That helps them pay lower tax rates than players and even stadium workers.

www.propublica.org

 

[Coyotedroppings]

In case anyone ever asks why Alex Meruelo would ever want to buy a sad sack franchise like Arizona, you can send them this:

The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes

Owners like Steve Ballmer can take the kinds of deductions on team assets — everything from media deals to player contracts — that industrialists take on factory equipment. That helps them pay lower tax rates than players and even stadium workers.

www.propublica.org

Excellent find, I had no idea they could depreciate so much. It appears the asshats have no reason not to do better.

 

[The Feckless Puck]

Excellent find, I had no idea they could depreciate so much. It appears the asshats have no reason not to do better.

It would certainly explain some of the less commonsensical moves that the franchise has made historically. For a guy like Meruelo who has his fingers in so many pies, having the Coyotes suffering actual financial losses of an extreme nature is only going to help his bottom line elsewhere.

The realization, of course, only adds another thick layer of cynicism to my fandom - but in a weird way, it also makes me a little less worried about a relocation, because Meruelo wouldn't get as juicy a writeoff in Houston or SLC as he does here.

 

[Coyotedroppings]

It would certainly explain some of the less commonsensical moves that the franchise has made historically. For a guy like Meruelo who has his fingers in so many pies, having the Coyotes suffering actual financial losses of an extreme nature is only going to help his bottom line elsewhere.

The realization, of course, only adds another thick layer of cynicism to my fandom - but in a weird way, it also makes me a little less worried about a relocation, because Meruelo wouldn't get as juicy a writeoff in Houston or SLC as he does here.

Those would be sales, yes? As such he would lose all that juice, no?

 

[The Feckless Puck]

Those would be sales, yes? As such he would lose all that juice, no?

I'm betting his biggest tax writeoff beneficiaries are his construction and real estate holdings more than his retail stuff.

 

[TheLegend]

It would certainly explain some of the less commonsensical moves that the franchise has made historically. For a guy like Meruelo who has his fingers in so many pies, having the Coyotes suffering actual financial losses of an extreme nature is only going to help his bottom line elsewhere.

The realization, of course, only adds another thick layer of cynicism to my fandom - but in a weird way, it also makes me a little less worried about a relocation, because Meruelo wouldn't get as juicy a writeoff in Houston or SLC as he does here.

I'm afraid this is old stuff. Like Econ 102.... the course you didn't take because Econ 101 bored the hell out of you.

 

[The Feckless Puck]

I'm afraid this is old stuff. Like Econ 102.... the course you didn't take because Econ 101 bored the hell out of you.

Well, I never pretended to be either an economist or an expert on tax law, but while I always knew about the tax writeoff stuff in principle, I wasn't aware of the extent of just how big the loopholes were and how blatantly they were exploited. Kinda casts an even worse light on Jerry Moyes for not being enough of a hustler to fully exploit the franchise more than he did as owner, though.

 

[Canis Latrans]

So evidently it's 15 years of depreciation on the purchase of the team as the major piece of deducting. There are a number of owners who've gone beyond that, so I wonder if that's the point when something like a new arena becomes a priority so they can add a new massive write-off.

 

[Sinurgy]

I'm afraid this is old stuff. Like Econ 102.... the course you didn't take because Econ 101 bored the hell out of you.

I'd bet $900 million amortized dollars this is not "old stuff" to 99% of the population.

 

[TheLegend]

Well, I never pretended to be either an economist or an expert on tax law, but while I always knew about the tax writeoff stuff in principle, I wasn't aware of the extent of just how big the loopholes were and how blatantly they were exploited. Kinda casts an even worse light on Jerry Moyes for not being enough of a hustler to fully exploit the franchise more than he did as owner, though.

Moyes originally got in for the real estate that was Westgate. Remember how, after he and Ellman split, he moved the front office into a building at Westgate he controlled with his wife? Then proceded to charge nearly 3x the going rate in rent compared to if they had just stayed in the arena that HE still had control of.

So he not only used the Coyotes as a cash cow to bail out Swift Transportation when the recession hit, (as it came out in the BK procedings), he was putting money in his own pocket,

And writing it all off in a loss against the team.

Remember IceEdge? After they sold out to Barroway, nobody ever could say they actually lost money.

Meruelo got in because:

1) NHL was on the verge of a new US TV contract which meant a big share to all the owners. It's why Forbes showed every NHL franchise ended up in the black last year.

2) The incoming expansion teams brought additional money in along with increasing values for all the franchises. (IceEdge came in because of this reason, too.)

I would guess to say Meruelo's been playing with house money all this time because of it. Makes it much easier to risk spending what he has so far (upgrading Mullett, etc) because of it he hasn't really risked all that much, and the end is if he can get TED, MED, (or whatever we end up calling it) built the end payoff could be massive.

 

[TheLegend]

I'd bet $900 million amortized dollars this is not "old stuff" to 99% of the population.

The dollar amount is irrelevant, the methology is.

 

[Kaizen]

The dollar amount is irrelevant, the methology is.

?