Nobody knows how much debt the Coyotes actually have. And why is that an issue to YOU or anyone else? If the owner is ok with the debt, why does it matter? Perhaps when AM bought the team, the league forgave all the debt.
AM is the first owner the Coyotes have had that can actually do what he says. The issue with the Coyotes in Glendale is that the owner didn't also own Westgate. The only way the Coyotes work(and a lot of pro sports teams to be honest), is either A) Be the managing group behind events at the arena and get a cut of all events that take place there, or B) Have other businesses that can help offset losses or just be an additional players in the business itself. AM has many other ventures that he makes money from, I'm not concerned about his liquidity like you mention.
Ah yes the good ol "it's not your money" or "you're not a fan of the team" so it's none of your business argument. Classic.
And are you really trying to suggest that the NHL was just like, "ya no problem, we'll forgive hundreds of millions of dollars of debt and we'll just pay it off for you"?
I'm not even sure where to begin with that second paragraph. Firstly, I never said I was concerned with his liquidity. I said that there is no way that Muruelo or anyone would just plop down the amount of money needed to build this whole project. That's not the same thing.
I think people are forgetting the fact that these types of projects don't make the money they make because of monthly or yearly income. They make them on resale. But again, AM is part of a group that will own TED. We don't know how much of it will actually be his.
Regardless, you're not seeing the fact that none of the significant sales that will make this project financially make sense will happen for at least 5 - 7 years. Especially since, as has been mentioned, the homes are the big selling point and if I'm not mistaken, they won't be built until much later on in the process.
All the while the Coyotes will continue to rack up 10 of millions of dollars of debt on top of the hundreds of millions of dollars of debt they already have.
Face it, at best, him owning the Coyotes is a means to an ends and that's to get the district built. As soon as humanly possible after that's well and done, IF it even gets off the ground, he's out.
Doesn't he also have a history of basically flipping properties/companies?
You know Quebec City thought that..... get the PUBLIC to build an arena and the return of the Nordiques was a lock.
Didn't turn out that way, did it??
But sure.... it's so nice to know that we have so many experts in this forum who know everything there is about Alex Meruelo because they have more vetting power than a 100 Glendale's or Tempe's or ASUs to fill us full of cute memeisms.
Oof. Someone must have seen the "Habs" in my name and just made a whole boatload of assumptions based just on that. My feelings on the Nordiques is extremely complicated and has ties to local politics including language politics so depending on the day, I either want them back so it can show on an an even bigger level how ass backwards the Government here is or I don't want them back because f*** the people in Quebec City.
As for the spending of public money on the arena, I mean unfortunately there's nothing that can be done about that but honestly the money they spent on that but if you know about Quebec and their spending of public money, that's nothing in the grand scheme of things.
As to your last point, I mean are you really trying to tell me that we should trust the people in charge of those organizations and their vetting ability? Glendale? Really? Even Tempe? I mean if you trust them, I have a bridge I'd like to talk to you about in terms of potential ownership and the millions you could make off of it once you own it.
