TheLegend
Megathread Gadfly
Ah yes the good ol "he has the money so he is going to stupidly spend it to prop up a distressed asset because of.......reasons". Meruelo based on his history bought distressed assets, pumped some money into them, then for the most part, sold them for a greater ROI. The problem here is that the money that is needed to get this asset into the black is much more than any type of profit he could make later on. And even IF he could be made whole, or get a profit, the NHL doesn't make enough money annually to have that happen so it would have to be through a sale. That's one hell of a long timeline unless it's to sell quickly and as we've seen, owners willing to shell out cash for this team isn't happening.
Even with Meruelo isn't current speculation/rumor that he didn't actually put in any cash but rather just took on the debt?
This is the exact same thing as the Hurricanes. We were all told that Dundon was the savior and he was going to pump in money and be there for the long haul and whatnot. Now we're starting to hear whispers that Karmanos can opt out (under what circumstances we don't know), and that in that situation too, it's questionable how much money he actually put in.
You seem to be implying Meruelo's an asset flipper when he really isn't.
I said he was in a better position to handle a recession. Moyes was into transportation (Swift Trucking and Aviation) and Ellman was strictly a developer. Meruelo has a more diversified asset portfolio (hotel/gaming, radio/media, construction, etc.), not to mention more resources than the other two. Plus he doesn't look at the Coyotes as a means to an end like they did.
Sorry for picking on you TL......Quebec City would be a decent market. Nothing spectacular but not terrible either especially in the current economic landscape of the NHL. Having said that, I remember listening to Gord Miller on the radio once say something to the extent of "So long as PKP is involved in the situation, the NHL won't go there". So how much of it has to do with Jacobs and his stupidities or PKP and his stupidities? I don't know. But I don't think it's as simple as "pay up or shut up". Especially if you look at the political landscape in Quebec over the past couple of years and what's coming in the near future, there is no way in hell the NHL wants to potentially get involved in that because unlike the Canadiens in Montreal, it would be right on their front steps as it all stems from Quebec City.
Nyah... I never feel picked on here. I was aware of the politics around PKP and such. Money though tends to get through all that and Jacobs is also pulling back from it all.
I would think (from the NHL's point of view) that Quebec City is looked at as a small market in that wouldn't make a great impact on the league's bottom line for the long term. I don't agree with that, but that's where it seems to be.