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

Discussion in 'Arizona Coyotes' started by Howler Scores, May 24, 2013.

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  1. jdfitz12

    jdfitz12 Registered User

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    According to Craig Morgan,

    Sam Chavira has joined Gary Sherwood and Yvonne Knaack in requesting vote.

    Does this mean we have 3 YEA votes.... I believe it only needs 4 votes to pass ?

    Where is McCain and Brewer to put pressure on Glendale to get this done.
     
  2. TeamTippett

    TeamTippett Formally TeamTurris

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    it wont come to a vote tues unless the votes are there.
     
  3. rt

    rt Registered User Sponsor

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    Chavira wants a vote, but is likely to vote against the deal. He's a supporter of calling a vote, but usually not a supporter of subsidizing hockey in Glendale.
     
  4. IPreferPi

    IPreferPi A Nonny Mouse

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    McCain did weigh in on Twitter

     
  5. mouser

    mouser Business of Hockey

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    It requires 3 votes from council members (or just 1 from the mayor) to request a full council vote on the proposal.
     
  6. letsgoavs1921

    letsgoavs1921 Registered User

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    I just council member Martinez an email saying he voted for the past deals and this was the best one yet. I also reminded him an empty arena is the worst case scenario. This is the response I got

    "I have always supported keeping the Coyotes in Glendale and will do everything I can to see they stay. Thank you for your support."
     
  7. TeamTippett

    TeamTippett Formally TeamTurris

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    Last edited: Jun 27, 2013
  8. Sinurgy

    Sinurgy Uncle G

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    I feel like you're purposely trying not to understand this but I'll try with an example. Let's say you're thinking of buying a soda, vendor A only carries 12oz bottles while vendor B only carries 16oz bottles. You can't reasonably expect vendor B to sell their 16oz bottle for the same price as vendor A's 12oz bottle.

    Now, if it turns out vendor A's bottles are actually 16oz then yeah, that would change things but until that's known, I'm not going to assume that's the case.

    To be clear, I'm not using this to say RSE's deal is great, I'm just saying that using $6.5million as the number that RSE should be paying is not realistic unless you can prove SMG would bring similar results.
     
  9. Mosby

    Mosby Howl On

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    Looks like the plan is still to rebrand:

     
  10. IPreferPi

    IPreferPi A Nonny Mouse

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    Ugh, still not a fan of rebranding at all.
     
  11. Howler Scores

    Howler Scores Registered User

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    This guy is:sarcasm:
     
  12. Howler Scores

    Howler Scores Registered User

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    The point/counter point memo:

    http://www.foxsportsarizona.com/common/medialib/271/glendaleupdate.pdf

    Response from RSE....$10 for parking is reasonable compared to other events in the valley. However, their projections to draw an average of 15,000 for the other 23 events a year is ambitious. Glendale has average 7,000 a year for other events based on their rfp docs. Additionally, they plan to collect $15 a car for parking at the other non-hockey events...another thing that is ambitious. Unless they are projecting using the system currently in place for Lot G; but that lot only holds a few hundred cars.

    http://www.glendaleaz.com/documents/MemorandumtoDickBowers.pdf
     
    Last edited: Jun 27, 2013
  13. rt

    rt Registered User Sponsor

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    Having a look at some of the major points of this deal, I could see the council approving it. It's not a good deal, but it's not half as rapey as Jamison's deal.

    Seriously, this could happen. CoG does assume all the risk, and the don't enjoy any freedom. That said, they've never had an offer that was any different in those respects. This one, though, doesn't require a 100M gift right off the hop, or 15m in AMF with NOTHING going back their way. This deal actually tries to cover some of those losses and share a little of the wealth (assuming there's anything to share).

    It's a haphazard proposal, completely held together by enormous debt and league handouts. It's very, very likely to fail. That said, it is soooooooooo much better than Jamison's offer.

    If the council is flat out scared to kick the NHL out of Glendale, I'd say they now have an excuse not to.
     
  14. rt

    rt Registered User Sponsor

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  15. mouser

    mouser Business of Hockey

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    Perusing:

    - Lease length not listed, until sometime in 202x. [CoG release says 15 years]
    - 5+ Year Early Termination clause available to owner if team loses $50m cumulative. Note: could invoke in year 6, 7, etc.
    - 20% of revenue from Arena Naming Rights to go to CoG. 100% of revenue to CoG for any new internal expansions (theater/stage/venue) with Naming rights or signage related to Concert events.
    - Parking rates $10/hockey event, $15/non-hockey event. Owner receives first $20k of Parking Profit for a hockey game, CoG receives the rest. CoG receives 75% of Parking Profits for pre-season, playoff, all-star and non-hockey events. CoG receives 100% of Parking Profits for each City Event. Parking is operated by the Arena Manager.
    - City ticket Surcharge for events:
    -- $3/ticket if <15k average attendance in season
    -- $3.25/ticket for 15,000 to 15,999
    -- $3.50/ticket for 16,000 to 16,999
    -- $3.75/ticket for 17,000+
    -- $5/ticket for non-Hockey Events
    - Supplemental $1.50/ticket surcharge for all events placed into escrow. CoG has right to draw from this fund if city received less than $8.5m in total revenue from operations at the arena during the preceding fiscal year.
    - $15m/year management fee.

    Notably I'm not seeing any mention of non-Hockey event count guarantees or targets. [CoG release suggests a target of 320,000 tickets to non-hockey Events, the equivalent of 18-19 sold out events.]
     
  16. Mosby

    Mosby Howl On

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    Nothing says revenue stream like fans buying new jerseys ;)
     
  17. rt

    rt Registered User Sponsor

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    Yep. Not only is it inevitable, it's probably absolutely necessary.
     
  18. IPreferPi

    IPreferPi A Nonny Mouse

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    Didn't say I'm against new logos/jerseys - but we can get those without changing to the Arizona Coyotes. Just doesn't quite work for me like the switch from Phoenix Cardinals to Arizona Cardinals. But I'm sure I'll get over it at some point. ;)
     
  19. Sinurgy

    Sinurgy Uncle G

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    This part stood out to me, not only can RSE bail in 5 years but if they wanted to purposely tank the team (they can't be that evil can they?) they could bail even earlier.

     
  20. IPreferPi

    IPreferPi A Nonny Mouse

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    A very legitimate concern.
     
  21. mouser

    mouser Business of Hockey

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    The PDF proposal says it has to be 5+ years AND $50m+ loss.
     
  22. rt

    rt Registered User Sponsor

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    No, after year five. It's basically saying it could be after year five OR six OR seven, etc.

    Not like they've got one chance to bail after five, and then they're locked in for the full fifteen. That's what they were clarifying. It's not year five OR year fifteen. It's an option in years five THROUGH fifteen.
     
  23. Sinurgy

    Sinurgy Uncle G

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    Ah ok, the memo made it sound like the $50 million in losses could trigger the out clause before a 5yr period. Thanks for clearing that up.

    I thought so but mouser pointed out that in the actual proposal (I was going off the initial memo post) it says that the $50 million does not come into play until after 5 yrs. So RSE would have to wait 5yrs AND lose $50 million before the out clause would kick in. Not great but certainly much better than I originally interpreted.
     
  24. IPreferPi

    IPreferPi A Nonny Mouse

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    Yeah, just saw mouser's clarification after posting that.
     
  25. Howler Scores

    Howler Scores Registered User

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    I think the breaking news in all of this is in regards to the new "Small Stage Company".
     
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