Andrew Barroway - Coyotes majority owner.

[XX]

Just wondering whether this is a hopeful sign that the NHL is demanding the Coyotes be closer to a cap ceiling team, than a cap floor team.

Uhh no. The league has no say about that at all.

They want both sides to have more equity in the team. The initial plan was that both would put in $15 million, but that probably didn't satisfy the league. That'd be like Barroway buying the team with 5% down, if we're pretending that the 300 million evaluation is real. The definition of acquiring something with the intention of flipping it later.

 

[Jakey53]

Uhh no. The league has no say about that at all.

They want both sides to have more equity in the team. The initial plan was that both would put in $15 million, but that probably didn't satisfy the league. That'd be like Barroway buying the team with 5% down, if we're pretending that the 300 million evaluation is real. The definition of acquiring something with the intention of flipping it later.

Don't know what you mean. Barroway is too have 51% and Gosbee 49%. With Barroway buying the team, I would think most of the debt would be retired.

 

[rt]

I'm trying not to pay attention to this, but wasn't there a January 1st time-frame that was at least semi-official? Like from the league? Or am I wrong?

 

[indczn]

Uhh no. The league has no say about that at all.

They want both sides to have more equity in the team. The initial plan was that both would put in $15 million, but that probably didn't satisfy the league. That'd be like Barroway buying the team with 5% down, if we're pretending that the 300 million evaluation is real. The definition of acquiring something with the intention of flipping it later.

Didn't the NHL set up a lower interest loan fund earlier this year? If that's being used in conjunction with the purchase, then yeah, the NHL could demand a bigger cash down payment.

 

[XX]

Didn't the NHL set up a lower interest loan fund earlier this year? If that's being used in conjunction with the purchase, then yeah, the NHL could demand a bigger cash down payment.

Yes, as part of having American majority ownership, the Coyotes will have access to an NHL secured line of credit that has a very favorable interest rate. The NHL simply wants Barroway to have more skin in the game.

 

[Jakey53]

Yes, as part of having American majority ownership, the Coyotes will have access to an NHL secured line of credit that has a very favorable interest rate. The NHL simply wants Barroway to have more skin in the game.

We have no idea how the deal is constructed. I believe the LOC is for every team to use if needed.

 

[kihekah19*]

I'm trying not to pay attention to this, but wasn't there a January 1st time-frame that was at least semi-official? Like from the league? Or am I wrong?

If memory serves, they said we should know the outcome before year end. Don't know if there was anything more official than that.

 

[TheLegend]

We have no idea how the deal is constructed. I believe the LOC is for every team to use if needed.

Part of the original sale to Ice Arizona was financed through the NHL's LoC. But they needed another cash source to complete the deal and that's where Fortress comes in to play.

Since that time the NHL went out and upped it's LoC limit. So they now have the capability to handle a transaction of that size.

 

[ibroce]

Deal still on track, could be finalized NYE, Barroway at morning skate today. Per Sarah, CM.

 

[AZviaNJ]

Deal still on track, could be finalized NYE, Barroway at morning skate today. Per Sarah, CM.

and attending tonight's game. Nice!

 

[Matias Maccete]

Interesting, seems like a good sign. My pessimistic side reminds me jamison attended quite a few games too.

 

[rt]

Interesting, seems like a good sign. My pessimistic side reminds me jamison attended quite a few games too.

As did Hulsizer.

 

[Matias Maccete]

As did Hulsizer.

Oh man I forgot about him.

 

[Sinurgy]

As did Hulsizer.

Ugh that ****ing tourist!

 

[The Feckless Puck]

From Casey Gagnon at AZ Sports Hub:

To Review: 1.) Barroway deal closes sometime this week, 2.) Deal in jeopardy a few weeks ago, 3.) Final step is league BOG approval #Coyotes

...and followup from Dreger:

Further to @Casey_AZSH reporting on Yotes sale. The voting process to approve the sale of 51% of the Coyotes to Andrew Barroway has begun.

 

[IPreferPi]

As did Hulsizer.

To his credit at least Barroway has stayed silent thus far. Hulsizer was *all* show and tell.

 

[diceone]

...and followup from Dreger:

This is very good news.

 

[Coyotes2000]

passed

 

[indczn]

passed

source?

 

[goyotes]

Nothing has been announced, but in the "twitterverse" it seems people are saying the vote has passed but people are waiting for the Coyotes to have a press conference to announce the sale closing. Looking like maybe tomorrow, but again, nothing official.

 

[Phoenician]

Let the relocation theories begin!

 

[moosemeister]

passed

This guy.

Tells us about the throwback uniforms. Now has inside sources with the deal closing.

WHO DO YOU WORK FOR?

 

[0point1]

Let the relocation theories begin!

 

[XX]

...and followup from Dreger:

Now now, we can't go trusting a credentialed reporter.

 

[Kaizen]

I'll go with closing late NYE and an announcement NY day.