Phoenix CXXXVI - Coyotes up for sale again

[LeHab]

An important caveat to consider that wasn't in play previously was that the NHL now has an extremely vested interest in advocating an acceptable minimum sales price considering that we're in a new expansion era. If Vegas just paid half a billion a few years ago and Seattle is going to be paying even more than that soon, there's almost assuredly no chance that the NHL would allow a sale unless the amount in question was in that ballpark, which would assuredly limit buying options in Arizona. All depends on minority/majority amount for sale, but 49-51% of $500-650 million is still a lot.

The amount we will hear is not likely to be the true value of the team (what the owner receives). Announced sale price will likely include additional funds to cover outstanding share of the debt and if the team commits to Arizona area future operating loses for some time.

 

[StreetHawk]

My reply was to a comment saying Quebec is in the wrong part of the country, Quebec has been trying to get a team back for years and the NHL kept refusing to even entertain the idea.

Arizona's ownership and the NHL failed the fans by putting a team there under such circumstances, and now the NHL stubbornly refusing to relocate the team is stupid, if you don't have time to prepare properly why not let the team move and bring one back when Arizona has a new arena and had time to prepare, make them the expansion team that you insist on making Quebec or Houston?

Given the NHLs requirements from the late 90’s expansion process that’s probably what they should have done. Every team needed an iron clad arena deal otherwise they don’t get a team. Houston had 3 bids but I don’t recall if the NHL ever narrowed it down to 1 bid from Houston so that they could work with Alexander and the city of Houston to replace the Compaq Center and this get the Toyota Center built earlier.

Honestly. If the coyotes had left and the city of Phoenix just renovated the Tsra with the same sitelines the NHL would never go back there. Look what it is takin for Seattle to correct the mistake of the early 90’s when they renovated the key to be basketball only.

Doubt Arizona would pay that to redo the TSRA.

 

[TheLegend]

Given the NHLs requirements from the late 90’s expansion process that’s probably what they should have done. Every team needed an iron clad arena deal otherwise they don’t get a team. Houston had 3 bids but I don’t recall if the NHL ever narrowed it down to 1 bid from Houston so that they could work with Alexander and the city of Houston to replace the Compaq Center and this get the Toyota Center built earlier.

Honestly. If the coyotes had left and the city of Phoenix just renovated the Tsra with the same sitelines the NHL would never go back there. Look what it is takin for Seattle to correct the mistake of the early 90’s when they renovated the key to be basketball only.

Doubt Arizona would pay that to redo the TSRA.

Speaking of TSRA.... there's been zippo news coming out of there too. But Phoenix is getting a new mayor elected tonight so we'll see. Sarver's got four more years before he can force the issue.

 

[Llama19]

 

[Fairview]

Why would Parsons even consider buying a franchise that loses tens of millions of dollars to help subsidize Westgate? Especially with the NHL seeming content to bring in a sacrificial owner every couple of years. Between the hapless owner(s) and the NHL footing the bill there is no reason for Parsons to lose his shirt too.

 

[Llama19]

Why would Parsons even consider buying a franchise that loses tens of millions of dollars to help subsidize Westgate? Especially with the NHL seeming content to bring in a sacrificial owner every couple of years. Between the hapless owner(s) and the NHL footing the bill there is no reason for Parsons to lose his shirt too.

No doubt...

 

[Fairview]

No doubt...

Spend a dollar to make a dime or more realistically spend at least $250 million (at 50% ownership) to lose $30 million a year and not ever having a real opportunity to increase the value of the asset you just purchased. What a great opportunity!!! I can't believe that it is taking so long to make a sale. I know I know.. it's complicated

 

[KevFu]

Arizona comes down to the arena. 1992 is when the TSRA opened. So how did the NHL ever figure that they would get a new one that could accommodate hockey anytime in the next 2 decades in that area?

Here's the thing...

It wasn't THE NHL that said "Hey, let's move the Jets to PHX."
It was the owners who said "We'll buy the Jets IF we're allowed to move them to PHX."

The NHL said "Sure, okay" because the Jets were for sale, and no one else was buying.

 

[Grudy0]

A very large majority of people here believe that the NHL has power to stop a franchise from moving. That's far from the case.

 

[MNNumbers]

Here's the thing...

It wasn't THE NHL that said "Hey, let's move the Jets to PHX."
It was the owners who said "We'll buy the Jets IF we're allowed to move them to PHX."

The NHL said "Sure, okay" because the Jets were for sale, and no one else was buying.

Are you sure, Kev? I think they bought, intending to move to Minneapolis. And, they had to ask permission about that. But, I think the purchase was done already when Minneapolis City Council turned them down. Then, they had no place to go, and ended up in Phoenix.

 

[Grudy0]

Here's the thing...

It wasn't THE NHL that said "Hey, let's move the Jets to PHX."
It was the owners who said "We'll buy the Jets IF we're allowed to move them to PHX."

The NHL said "Sure, okay" because the Jets were for sale, and no one else was buying.

Incorrect.

It wasn't the NHL that said "Hey, let's move the Jets to PHX."
It was the owners who said "We'll buy the Jets IF we're allowed to move them somewhere."

Burke and Gluckstern purchased the Jets. They tried to move them to Minneapolis and the Target Center. The subsidies fell through, then they ended up in Phoenix.

And the NHL did nothing to block the move as they couldn't.

 

[sawchuk1971]

Where is this new arena coming from?

Sarver the Suns owner doesn’t want to share a new one with the coyotes. Makes sense since the suns make more money as the sole tenant in a renovated TSRA.

Plus, they could increase their corporate support revenue if the coyotes are basically forced to leave without hope of a new arena.

Other cities have seen what happened in Glendale. Doubt they are interested in investing in an arena. Phoenix is the main Center so once the TSRA gets a remodel that is going to remain the main site for concerts and shows.

2022 is the date that the suns 30 year lease expires if the arena is not up to nba standards which most expect it won’t be. So we should be coming to a conclusion soon on whether Phoenix or Scotsdale is an option for the coyotes.

They honestly never stood a chance since they arrived in 1996 to a building that opened in 1992 that wasn’t configured to support nhl hockey. What city would build a brand new arena when one is under a decade old?

does sarver have enough funds to buy the coyotes?

 

[Llama19]

does sarver have enough funds to buy the coyotes?

His net worth is around $400MM...so likely not...
unless he sells the Suns...valued at $1.2B...
and buys the Coyotes instead...

 

[cbcwpg]

His net worth is around $400MM...so likely not...
unless he sells the Suns...valued at $1.2B...
and buys the Coyotes instead...

Sell a franchise worth $1.2B and can turn a profit.... for a franchise worth 25% of that, that can't make a profit... Sure.

 

[The Feckless Puck]

does sarver have enough funds to buy the coyotes?

Given what's going on with the Suns, I'd rather see the Coyotes relocate to QC than see a Sarver-owned NHL franchise in Arizona.

 

[StreetHawk]

Incorrect.

It wasn't the NHL that said "Hey, let's move the Jets to PHX."
It was the owners who said "We'll buy the Jets IF we're allowed to move them somewhere."

Burke and Gluckstern purchased the Jets. They tried to move them to Minneapolis and the Target Center. The subsidies fell through, then they ended up in Phoenix.

And the NHL did nothing to block the move as they couldn't.

And all this was going down around the time the NHL was accepting bids for expansion?

Move to Colorado, Arizona and Carolina in consecutive years then hit 3 straight years of expansion teams coming in.

 

[yukoner88]

im sure we'll have things cleared up a bit more by Mr. Daley when more details can be disclosed in about....
















2 weeks

 

[lawrence]

no one wants to buy it because the new ownership is not allowed to relocate the team.

 

[Summer Rose]

I give Coyotee fans in Arizona a freakin standing ovation. As much bashing they get I cannot fathom any other fanbase enduring what they have gone through both on the ice and the constant ownership/arena/re-location Gong Show.
The fact that they get what they get as far as attendance astounds me..

You should check out the main board thread about this. I think about half the thread is people saying things like "just move the f***ing team already."

 

[Jumptheshark]

You should check out the main board thread about this. I think about half the thread is people saying things like "just move the ****ing team already."

I thought this new owner was suppose to last

 

[Summer Rose]

I thought this new owner was suppose to last

I don't think anyone who knew what was going on expected him to. He couldn't afford to cover the losses himself for very long.

 

[mouser]

His net worth is around $400MM...so likely not...
unless he sells the Suns...valued at $1.2B...
and buys the Coyotes instead...

There’s something very tortured with your math here.

 

[TheLegend]

Why would Parsons even consider buying a franchise that loses tens of millions of dollars to help subsidize Westgate? Especially with the NHL seeming content to bring in a sacrificial owner every couple of years. Between the hapless owner(s) and the NHL footing the bill there is no reason for Parsons to lose his shirt too.

The person representing Parsons in his purchase of Westgate stated at the time of the sale that he wasn't interested in buying the Coyotes.

The dumpster diving tweet repost above is from Mike Muraco, a local radio personality who's broken Coyotes news in the past. But IMO he's purely speculating here like everyone else.

 

[yukoner88]

actually, on a serious note, I wonder how hard the group from Quebec City would be pushing to make an offer, but I do imagine they'd have to do some serious lobbying with Bruins Owner, Habs Owners etc

 

[Dirty Old Man]

You should check out the main board thread about this. I think about half the thread is people saying things like "just move the ****ing team already."

Yes, that would never happen here on BoH, where posters are expected to behave in a mature manner, with decorum, conducting a proper academic discussion without prejudice.