Toggle sidebar

Glendale: Still incompetent, and now attemping to wiggle out of the lease (Post 200)

Status
Not open for further replies.
XX

XX

Waiting for Ishbia
Dec 10, 2002
54,937
14,665
PHX
The Feckless Puck said:
...aaaaaaaaaaand here they are:
Click to expand...

Most interesting part is Fortress being out of the picture. I'm wondering if Barroway and Co. refinanced under the NHL credit line, getting rid of the FIG debt?

Oh well. If they move, they move. I don't care anymore. It will have been very likely that the NHL approved of IA and Barroway as stewards, knowing full well that they intended to move the team, if a move does indeed happen.

Not worth worrying about.
 
Rink Rage

Rink Rage

Registered User
May 2, 2010
1,758
3
Phoenix, Arizona
Well, the gray for me is the losses. The ownership dragged their feet when it came to releasing those numbers. And I find it hard to believe you can make money without fans like ownership says they can.
 

Jakey53

Registered User
Aug 27, 2011
30,183
9,201
goyotes said:
You can't report accurate information related to the team's financial status when the reporter doesn't have the financials or the audit to observe.

It's like a blind man trying to describe what the Mona Lisa looks like.

Having said that, the Coyotes are in serious financial difficulties, just how bad I don't know. My personal opinion is they will demonstrate loses that can trigger the out clause, and ownership will evaluate all possible options, from staying, to moving elsewhere in Phoenix, to relocation to another city.

I expect it will be rinse and repeat on the relocation drama is three years. Frankly, I don't care anymore. I am going to detach from this team if they don't start playing entertaining hockey, well before the threat of relocation becomes a imminent subject of discussion.
Click to expand...

You said it yourself, the reporter doesn't have the financials or the audit to back up his claim, yet you say the Coyotes are in serious financial difficulties. You have no idea, just like the rest of us, what their financial situation is.
 
CC96

CC96

Serious Offender
Nov 6, 2012
18,098
1,029
Mesa, Arizona
XX said:
Oh well. If they move, they move. I don't care anymore. It will have been very likely that the NHL approved of IA and Barroway as stewards, knowing full well that they intended to move the team, if a move does indeed happen.

Not worth worrying about.
Click to expand...

Yeah, after we got ****ed in the lottery, I pretty much stop caring about ownership too. If they stay and become a really good team, great. If they don't, and end up moving, oh well.
 
rt

rt

The Kinder, Gentler Version
May 13, 2004
97,549
46,591
A Rockwellian Pleasantville
There is really no new development here. Is there? Some bored, inaccurate and inadequate reporter posted an article with more errors than facts. Whoop-dee-doo...
 

Jakey53

Registered User
Aug 27, 2011
30,183
9,201
rt said:
There is really no new development here. Is there? Some bored, inaccurate and inadequate reporter posted an article with more errors than facts. Whoop-dee-doo...
Click to expand...

Yet, everyone is getting their ---- in a knot. Can't anybody form their own opinion? They believe everything they read.
 
XX

XX

Waiting for Ishbia
Dec 10, 2002
54,937
14,665
PHX
rt said:
There is really no new development here. Is there? Some bored, inaccurate and inadequate reporter posted an article with more errors than facts. Whoop-dee-doo...
Click to expand...

If the city wants out of the lease, they'll probably get it, and the team will be gone. Same thing happened to Atlanta.
 

Jakey53

Registered User
Aug 27, 2011
30,183
9,201
XX said:
If the city wants out of the lease, they'll probably get it, and the team will be gone. Same thing happened to Atlanta.
Click to expand...

Yeah, the team will move to a new facility in Scottsdale and leave the --------in Glendale high and dry.:nod:
 
moosemeister

moosemeister

5,000 strong
Feb 15, 2010
9,686
10,978
Mesa, Arizona
Jakey53 said:
What? Please explain, I don't understand.
Click to expand...


Bad joke i should've probably explained a little more.

Bored, ignorant, Canadian media dude is probably sitting in the direction of the red arrow. Looking out his window towards the direction of Arizona.

The light blue lines are his line of sight.

Looking at Arizona, from Canada, Glendale is East of Phoenix.

l117bun
 
moosemeister

moosemeister

5,000 strong
Feb 15, 2010
9,686
10,978
Mesa, Arizona
XX said:
Most interesting part is Fortress being out of the picture. I'm wondering if Barroway and Co. refinanced under the NHL credit line, getting rid of the FIG debt?

Oh well. If they move, they move. I don't care anymore. It will have been very likely that the NHL approved of IA and Barroway as stewards, knowing full well that they intended to move the team, if a move does indeed happen.

Not worth worrying about.
Click to expand...

Pretty much. If they leave, then whatever. I'll have 82 days a year to do something else with my life.
 
mouser

mouser

Business of Hockey
Jul 13, 2006
29,364
12,735
South Mountain
XX said:
Most interesting part is Fortress being out of the picture. I'm wondering if Barroway and Co. refinanced under the NHL credit line, getting rid of the FIG debt?

Oh well. If they move, they move. I don't care anymore. It will have been very likely that the NHL approved of IA and Barroway as stewards, knowing full well that they intended to move the team, if a move does indeed happen.

Not worth worrying about.
Click to expand...

It was always believed the Barroway purchase would retire the Fortress loan.

There should be a public record that the owners directed Glendale to send the payments to another business entity when that happened.
 
rt

rt

The Kinder, Gentler Version
May 13, 2004
97,549
46,591
A Rockwellian Pleasantville
That was one of the key benefits of bringing in an American owner like Barroway, right? Pay down Fortress and get a better interest rate on a different line of credit? Right?
 

Jakey53

Registered User
Aug 27, 2011
30,183
9,201
rt said:
That was one of the key benefits of bringing in an American owner like Barroway, right? Pay down Fortress and get a better interest rate on a different line of credit? Right?
Click to expand...

Yes, and better tax advantages.
 

Jakey53

Registered User
Aug 27, 2011
30,183
9,201
RemoAZ said:
That pretty much sums up my reaction. You have to do a hell of a lot better than this if you want to scare us Coyotes fans. We're battle tested now. This person's effort was pathetic at best.
Click to expand...

You better read these posts then.:) Some sound like their scared ----less.
I'm with you, been there done that, not worried at all.
 
TheLegend

TheLegend

Megathread Gadfly
Aug 30, 2009
36,850
29,030
Buzzing BoH
XX said:
Most interesting part is Fortress being out of the picture. I'm wondering if Barroway and Co. refinanced under the NHL credit line, getting rid of the FIG debt?

Oh well. If they move, they move. I don't care anymore. It will have been very likely that the NHL approved of IA and Barroway as stewards, knowing full well that they intended to move the team, if a move does indeed happen.

Not worth worrying about.
Click to expand...

For those who don't follow along in BoH much. Two things happened when Andrew Barroway bought in..

1) It moved the Coyotes from a Canadian based ownership to an American one (and eliminated paying any corporate taxes to Canada on US-based loans.)

2) It allowed IA to use move the major portion financing from Fortress over to the NHL's $2 billion+ line of credit, which is estimated to be about half the interest rate Fortress usually charges.
 
Status
Not open for further replies.

Ad

Latest posts

Upcoming events

Ad

Ad

Top Bottom