Speculation: Ownership Saga: Coyote's Renaissance (Read Post #1)

[ck26]

A deal is not a deal without a lease. RSE has indicated they want $14-15m a year in the past. The city can't do that. Tuesday could be either a funeral pyre or a celebration. Funny how that works.

The insanity of high finance.

Seemingly intelligent businessmen want to buy an asset that costs $170,000,000 ... but only if a third party will pay them to take it. Classic information asymmetry ... banking on the fact that the owner and the league understand the finances better than the third party CoG. The owners (whoever they end up being) will have a franchise, the league will get a big pile of cash ... all that stands to suffer is Bettman's ego and the CoG bottom line. Holding a gun to the taxpayers' head is so distasteful ...

 

[Howler Scores]

"@cmorganfoxaz: Glendale councilmember Gary Sheerwood has already met informally with various people impacted who would be impacted about arena mgmtn cost."

 

[IPreferPi]

Hmm, so is there an ownership announcement next Tuesday or not?

Sarah McLellan @azc_mclellan
#Coyotes reiterate that Maloney available Tuesday to discuss new deal. Also note they do not expect ownership announcement at that time.

 

[ParisSaintGermain]

So all it took to turn the course of the Coyotes around was to include the word "Renaissance" in the Ownership Saga thread title ?

 

[ck26]

A deal is not a deal without a lease. RSE has indicated they want $14-15m a year in the past. The city can't do that. Tuesday could be either a funeral pyre or a celebration. Funny how that works.

So all it took to turn the course of the Coyotes around was to include the word "Renaissance" in the Ownership Saga thread title ?

What evidence have you seem that says things have turned around?

 

[ParisSaintGermain]

What evidence have you seem that says things have turned around?

Alcohol.

 

[Jakey53]

The insanity of high finance.

Seemingly intelligent businessmen want to buy an asset that costs $170,000,000 ... but only if a third party will pay them to take it. Classic information asymmetry ... banking on the fact that the owner and the league understand the finances better than the third party CoG. The owners (whoever they end up being) will have a franchise, the league will get a big pile of cash ... all that stands to suffer is Bettman's ego and the CoG bottom line. Holding a gun to the taxpayers' head is so distasteful ...

The taxpayers always are left holding the bag, this is not new. It happens all the time.

 

[Jakey53]

Alcohol.

That's the spirit

 

[ParisSaintGermain]

Alcohol aside, it is just a gut feeling.

This franchise is in the most vulnerable position right now but suddenly it does not look like the NHL has options to move it: Seattle does not appear like a possibility anymore and for some reasons there has been zero interest by the Canadian medias on the Coyotes status which may indicate that QC is a no go either at this point. I mean, you would really expect the Canadian medias to be all over the story of a possible move of a franchise back in that country.

So with the main options possibly gone, the NHL might just be more willing to find a solution here because contraction is not something that the league can seriously contemplate.

Extending DM to a multiyear contract today is a commitment. This may mean absolutely nothing but...

 

[Jakey53]

Alcohol aside, it is just a gut feeling.

This franchise is in the most vulnerable position right now but suddenly it does not look like the NHL has options to move it: Seattle does not appear like a possibility anymore and for some reasons there has been zero interest by the Canadian medias on the Coyotes status which may indicate that QC is a no go either at this point. I mean, you would really expect the Canadian medias to be all over the story of a possible move of a franchise back in that country.

So with the main options possibly gone, the NHL might just be more willing to find a solution here because contraction is not something that the league can seriously contemplate.

Extending DM to a multiyear contract today is a commitment. This may mean absolutely nothing but...

I agree, and I think the TV contract comes into play somewhere in all this.

 

[XX]

there has been zero interest by the Canadian medias on the Coyotes status which may indicate that QC is a no go either at this point. I mean, you would really expect the Canadian medias to be all over the story of a possible move of a franchise back in that country.

You are being selective with your attention, which is putting it nicely. What you wrote here is simply not true. Quebecor has been maneuvering for awhile now. The silence is professionalism, something the parties involved in the Winnipeg deal lacked. A deal is not off the table because TSN doesn't have a Nordiques matter. Quite the opposite.

Tuesday RSE will ask for $14 or $15m a year. Glendale will offer $6. Depending on how those meetings (specifically designed to skirt the open meeting law) go, the Coyotes will either have a case for staying or be quietly shuffled off to QC.

I agree, and I think the TV contract comes into play somewhere in all this.

NBC has said they don't care. You're grasping at straws that don't exist.

 

[Howler Scores]

"@cmorganfoxaz: To be clear, NHL can't announce ownership deal yet. RSE hasn't reached arena-management deal with COG yet. RSE has purchase agreement w/NHL."

“From my conversations with Anthony (LeBlanc) and others, he’s looking for something in the $14 million to $15 million range. So how can*we bridge that gap when we can’t go much more than the $6 million that is on the books?“Where you start is looking at various revenue streams,†Sherwood added, citing several examples such as parking, a stadium taxing district, suite sales and naming rights, which will be up for bid soon since Jobing.com paid $25M in 2006 for 10 years of rights. “I believe we have some talking points, where we can begin with LeBlanc, that could lead to a deal.â€

http://www.foxsportsarizona.com/nhl...es-ownership-front?blockID=903353&feedID=3545

 

[Jakey53]

You are being selective with your attention, which is putting it nicely. What you wrote here is simply not true. Quebecor has been maneuvering for awhile now. The silence is professionalism, something the parties involved in the Winnipeg deal lacked. A deal is not off the table because TSN doesn't have a Nordiques matter. Quite the opposite.

Tuesday RSE will ask for $14 or $15m a year. Glendale will offer $6. Depending on how those meetings (specifically designed to skirt the open meeting law) go, the Coyotes will either have a case for staying or be quietly shuffled off to QC.



NBC has said they don't care. You're grasping at straws that don't exist.

What else are they going to say? always so pessimistic and what is happening behind closed doors. You guys don't have a clue, only assumptions, just like the rest of us.

 

[ParisSaintGermain]

You are being selective with your attention, which is putting it nicely. What you wrote here is simply not true.

That's the alcohol part XX.

 

[GiveAFlyingPuck]

The game is afoot.

 

[TheLegend]

You are being selective with your attention, which is putting it nicely. What you wrote here is simply not true. Quebecor has been maneuvering for awhile now. The silence is professionalism, something the parties involved in the Winnipeg deal lacked. A deal is not off the table because TSN doesn't have a Nordiques matter. Quite the opposite.

Tuesday RSE will ask for $14 or $15m a year. Glendale will offer $6. Depending on how those meetings (specifically designed to skirt the open meeting law) go, the Coyotes will either have a case for staying or be quietly shuffled off to QC.

NBC has said they don't care. You're grasping at straws that don't exist.

You're presuming they will ask for that much. Based upon second hand statements from Sherwood.

You recall they were to have these meetings a couple weeks ago and then the day before, Giblin's article appears on the arena costs and they cancelled the meetings that evening. Now they are back.

For all anyone knows the $14-15 million might have been what they were looking for, until the Giblin article hit. And they've spent the time since then reworking the sale of the franchise that would make a lower arena management amount workable.

The whole point is..... nobody knows what will be said on Tuesday. Even Giblin on Twitter has been guessing.

 

[Jakey53]

Yeah right! Ha ha

Come on now, stay positive.

 

[ParisSaintGermain]

This from earlier today.

"@DarrenDreger: NHL confirms "agreement" with Gosbee to purchase Coyotes, but says a number of issues still have to be resolved before done deal."

 

[coyotes]

LeBlanc never stated he needs 14-15 million. That has been spun and taken out of context. When LeBlanc was first interviewed about this back in February, he never stated "I'm looking for 14-15 million per season." This is what was actually said

"We understand that there are some cash constraints, but at the same time, we can't do a deal that wouldn't be economically feasible for us," LeBlanc said. "It's a verbose way of saying, 'Look, we understand that it won't be the same deal, but we're trying to find a middle ground that would make sense for both sides.'"

http://www.usatoday.com/story/sports/nhl/coyotes/2013/02/12/phoenix-coyotes-suitors/1912847/


Sorry but that doesn't sound like LeBlanc was demanding 15 million a year considering that's what Jamison got. LeBlanc knows Jamison was receiving 15 million per year so it makes little sense that he would ask for the same or similar amount based on his quote above. Based on that quote, it seems like LeBlanc understands he will have to compromise. And he said this back in February before any of these discussions started. And this is coming from LeBlanc himself....not Sherwood or any other third party source.

Furthermore, there is no proof that Glendale is going to offer 6 million. Just because Giblin wrote an article saying it takes 6 million to run the stadium, that doesn't mean Glendale is asking for that. People are assuming that Glendale is going to offer that based solely on that Giblin article. Giblin's article left out a lot of facts when coming up with that number. At best, you can state Giblin's article was incomplete. There are a lot of presumptions on the part of fans who read these articles and then interject their opinion as fact.

The only fact is none of us know what both parties want.

 

[Howler Scores]

A bid by former San Jose Sharks owner Craig Jamison to buy the team was the latest attempt to fall through.

http://www.sportsnet.ca/hockey/nhl/report-nhl-approves-coyotes-sale-to-cdn-group/

Have to love fact checkers

 

[BennyAdeline]

I really hope this goes through for you guys. I love the rivalry we have building, really enjoy driving out to PHX from LA to enjoy an away game, and love the PHX/Scottsdale area in general. The wife and I make it out almost every time the Kings are in PHX.

I must also say that Coyotes fans are legit and nice. Never had any issues, excepting one time during game 5 of the WCF last year. A couple of younger Yotes fans cornered my wife in the stairwell when she was going for a smoke between periods. They were talking trash, calling her an LA *****, when one kid grabbed her jersey and then a BUNCH of Yotes fans swarmed in, protected her and took offenders to security...Awesome!

I know we are supposed to hate each other and I'd love to see the team/fan base get the stability they deserve so we can continue doing so!

 

[rt]

A prospective owner agreeing to a deal with the NHL has never been the difficult part of this process and give past precedent is really nothing to even blink at. It's a definite "big whoop" kind of milestone.

This has always been a question of subsidy. How much is Glendale willing to give up and how can they make it appear legal?

If Gosbee, Glendale, and Goldwater can agree on a deal, then it should be champagne in the streets.

If not, it's either another year of league ownership or off to Quebec. We should know in the next few weeks.

 

[knowsthegame]

A prospective owner agreeing to a deal with the NHL has never been the difficult part of this process and give past precedent is really nothing to even blink at. It's a definite "big whoop" kind of milestone.

This has always been a question of subsidy. How much is Glendale willing to give up and how can they make it appear legal?

If Gosbee, Glendale, and Goldwater can agree on a deal, then it should be champagne in the streets.

If not, it's either another year of league ownership or off to Quebec. We should know in the next few weeks.

I have to disagree RT. I think it has been about finding a prospective owner that HAS THE MONEY!!
After all, the city of Glendale already gave Jameson a sweet deal to manage the arena with no involvement from Goldwater, which has not been in the picture for a long time.
The fact that the new Glendale council has put the arena management out for bid makes it legit. It's ALL about the money my friend.
This is no time for negativity - haven't you guys already had your fill of negativity?
Don't want all the naysayers to look bad when we have to say "we told you so" when this deal actually does get done.

 

[coyotes]

I have to disagree RT. I think it has been about finding a prospective owner that HAS THE MONEY!!
After all, the city of Glendale already gave Jameson a sweet deal to manage the arena with no involvement from Goldwater, which has not been in the picture for a long time.
The fact that the new Glendale council has put the arena management out for bid makes it legit. It's ALL about the money my friend.
This is no time for negativity - haven't you guys already had your fill of negativity?
Don't want all the naysayers to look bad when we have to say "we told you so" when this deal actually does get done.

I wholeheartedly agree. Glendale met their obligation, but Jamison didn't. The issue has always been about finding an owner. There have been a lot of prospects, but they were not really qualified as owners. This is why Glendale supposedly cancelled the last meeting and told the NHL to come back when they have the ownership situation solidified. Glendale didn't want a repeat of the Greg Jamison situation. Glendale doesn't want to spend countless hours providing the deals of a subsidy only for the owner to say "I don't have the money." Goldwater isn't getting involved. They didn't get involved with the Jamison deal, which involved a much larger subsidy than what will be given in this deal.

 

[XX]

Don't want all the naysayers to look bad when we have to say "we told you so" when this deal actually does get done.

The only way a deal gets done in time to save the team is if significant progress is made on Tuesday. It's possible, if all three parties give a little bit. The city has indicated that they can't give much, if any. Leblanc has said in the past directly that he needs a deal similar to the Jamison one, a deal that had far more than $15 million a year in the first five years. The league has never dropped the price and has no reason to do so. So you can see there are some significant obstacles in the way here.

It's entirely possible that Gosbee caves or finds a last minute source of funding, being eager to start managing the team. It's also possible the league takes a small haircut on the sale for the sake of it being over. The city, despite solid evidence that they cannot afford to go above $6m, may find some creative way to finance this that doesn't run afoul of GWI. All three parties could have a moment of zen and move quickly enough on this that the RFP issue and any internal deadline the NHL has is put to rest. We'd have a team, an owner, a GM and begin negotiations to retain Tippett. Sunny days.

It's possible. Likely? Depends on your mindset.