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CXLI - UPDATE 1/27 - Coyotes working on deal to play at 5,000-seat arena at ASU

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Ernie

Ernie

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Aug 3, 2004
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OG6ix said:
1.5 billion is low I think. After the NBA gets their next tv contract (they are looking for 8-10 billion a year) they may look at expanding. The price tag is going to go up to. The ironic thing is the NFL, NBA and to some extent the MLB is going to price out many potential owners leaving the gates open for NHL and probably MLS. If there are billionaires just looking to buy a sports team for vanity.
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That's just the thing, the wealth held by billionaires in the US has gone up from $3 trillion to $5 trillion since the beginning of the pandemic. There is a lot more money to buy billionaire toys than there was a couple of years ago.
 
Llama19

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ASU/Coyote modifications being discussed now...

upload_2022-2-10_13-38-54.png


 
Yukon Joe

Yukon Joe

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aqib said:
So just wondering, with all the costs of upgrading the ASU arena and the extra losses he would incur for that time, wouldn't it be cheaper to just buy Gila River from Glendale for the $120 millionish they still owe on it and then sell it to whoever when the new arena is built. Like even if he sold it for $1 he would be better off. Or he could demolish it and sell the land to a developer so he eliminates the competition and recoups some money.
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The arena by itself was a money-loser. Would be worse with another competing arena in Tempe.

Land itself is almost certainly not worth $120 mil. Demolishing an arena itself costs millions (we're dealing with that here in Edmonton).

Losses from hockey operations at ASU are probably no worse than what they already lose every year.
 

MNNumbers

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Basically free facilities. Proposal written in such a way that all money is up front.

Due diligence necessary. But this is expected.
 
Mightygoose

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Secured a 5000 seat facility for an NHL team as a bridge: Check

Now getting a green light from Tempe so there is another side to bridge: Now there is where the fun really begins
 
golffuul

golffuul

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Mightygoose said:
Secured a 5000 seat facility for an NHL team as a bridge: Check

Now getting a green light from Tempe so there is another side to bridge: Now there is where the fun really begins
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Yeah...throwing free money at Tempe/ASU for an addition to an already existing building is a no-brainer. The actual arena deal is a whole different barrel of fish. One that I think Tempe voters will have a hard time accepting, but their election results will tell the tale.
If the new Tempe council doesn't sit until July, how is Meruelo/NHL exactly supposed to get a greenlight for a new arena in time for the 22-23 season? Because the ASU "addition" was only acceptable to the NHL on the contingency of the larger deal going through. I'm assuming the NHL will allow the team to be at the ASU arena for a year before pulling the plug, and the NHL just doesn't want it to be a long-term "solution".
 
Ernie

Ernie

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Llama19 said:
Nope...getting money upfront...upgrades galore...keeping the facility...
what was not to like from the university's perspective...
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Also they mentioned that the university will receive a yearly tenancy fee in advance. They didn't specify what that amount will be.

Two of the regents asked to see the final agreement. It seems like this was a vote to proceed but not the final vote.
 
Llama19

Llama19

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Ernie said:
Also they mentioned that the university will receive a yearly tenancy fee in advance. They didn't specify what that amount will be.

Two of the regents asked to see the final agreement. It seems like this was a vote to proceed but not the final vote.
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Correct...until the final agreement is hammered out...this vote was to just move forward...
once the agreement details are finalized...then there will be a final vote of approval...
again...what is not to love in getting free stuff paid...upfront...from ASU's perspective...
 

gstommylee

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Jan 31, 2012
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golffuul said:
Yeah...throwing free money at Tempe/ASU for an addition to an already existing building is a no-brainer. The actual arena deal is a whole different barrel of fish. One that I think Tempe voters will have a hard time accepting, but their election results will tell the tale.
If the new Tempe council doesn't sit until July, how is Meruelo/NHL exactly supposed to get a greenlight for a new arena in time for the 22-23 season? Because the ASU "addition" was only acceptable to the NHL on the contingency of the larger deal going through. I'm assuming the NHL will allow the team to be at the ASU arena for a year before pulling the plug, and the NHL just doesn't want it to be a long-term "solution".
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None of us out side the city the yotes and the consultants have seen the full proposal of the tempe arena so again lets wait and see until the proposal full details goes public before declared it basically a dead thing that the voters will automatically be against.
 
golffuul

golffuul

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Oct 24, 2011
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gstommylee said:
None of us out side the city the yotes and the consultants have seen the full proposal of the tempe arena so again lets wait and see until the proposal full details goes public before declared it basically a dead thing that the voters will automatically be against.
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To be fair, I did say that the council vote would say more as to the voters' temperament to the deal. Having been a resident of Tempe for several years, I do know that most of the people I knew thought that the city was already becoming very overcrowded and had a lot of other issues that were more pressing.
 
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fryfunk

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Mightygoose said:
Secured a 5000 seat facility for an NHL team as a bridge: Check

Now getting a green light from Tempe so there is another side to bridge: Now there is where the fun really begins
Click to expand...
Hotel booked for hot date, check. Now just need to find a supermodel.

In the history of the world has their ever been a university turning down free money?

Total smoke and mirrors nonsense.
 
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aqib

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Feb 13, 2012
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Yukon Joe said:
The arena by itself was a money-loser. Would be worse with another competing arena in Tempe.

Land itself is almost certainly not worth $120 mil. Demolishing an arena itself costs millions (we're dealing with that here in Edmonton).

Losses from hockey operations at ASU are probably no worse than what they already lose every year.
Click to expand...

Well its all a moot point since news just broke that they reached a deal with ASU, but I figured the losses would be such that it would be better to buy and flip Gila River. Both the Montreal Forum and Maple Leaf Gardens were also retrofitted into useful stuff. Yes it would have no value as an arena at that point but it would be worth something at the rate Westgate is growing and it would seem from a distance to be less of a money loser than playing in front of 5K fans at ASU.
 

aqib

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Feb 13, 2012
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golffuul said:
To be fair, I did say that the council vote would say more as to the voters' temperament to the deal. Having been a resident of Tempe for several years, I do know that most of the people I knew thought that the city was already becoming very overcrowded and had a lot of other issues that were more pressing.
Click to expand...

So our of curiosity what would Tempe residents prefer to see there?
 
KevFu

KevFu

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I think with the ASU capacity as small as it is, they should do two different week-long stints of 4 games each at Chase Field downtown.

With the right homestand they could make some money. The Blackhawks at Chase Field would be their highest attendance of the year, hands down.
 
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