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

[Sinurgy]

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

lol...yeah that's the hing factor right there. I for one can't wait to go watch a show at the Desert Schools Sally's Mountain Dew AZ Outfitter's Theater!

 

[ClassLessCoyote]

Not surprised to see another lease with a huge upside to the owner and with an outcluase. Not surprising to see that Glendale will get some things as well. Those who have paid attention saw this coming.

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.

Now comes the interesting part all of us want to know; is this $50 Million number creative accounting proof? Moyes was known to inflate the teams losses with the losses of his other business for tax write-off purposes.

 

[doaner]

Yup. It's a give and take.

 

[RABBIT]

I really don't have any idea what the **** is going on anymore.

 

[rt]

I really don't have any idea what the **** is going on anymore.

Things are essentially as they have always been. There's an offer on the table that is supposedly "final". Yet the sides are going back and forth and it would appear this is still negotiable. The council will vote on some form of a deal that's similar to the one we've seen on Tuesday. They might vote to accept the deal, they might not. Nobody knows what the outcome of that vote will be at this point.

Even if they vote to take the deal, it could still fall apart. Jamison's did. Hulsizer's did. There is always the unforeseen monkey wrench that could show up at the last minute.

Even if no such landmines appear, and the deal is finalized, sale complete - there is a very, very real possibility that RSE is unable to turn this mess around in five seasons. If they can't, they have an out clause. We could end up right back here a half decade from now with the same headaches.

So, what you should be hoping for is that the deal can somehow become more appealing to Glendale without severely limiting RSE's chances of actually making it work in the next five seasons. Then, you should hope the council votes for it. Then you should hope nothing else screws it up before it's finalized. Then you should hope that RSE can turn hockey around in the valley for the first time ever and start making some money for themselves and for the city.

The odds are not good. When have they ever been? They've got as good a shot now as ever.

As for us? Same as always; just wait around...

 

[rt]

Craig Morgan @cmorganfoxaz 27th June 2013 from TwitLonger
Glendale Mayor Jerry Weiers on the current developments: "Three council members have forced my hand to have a voting meeting on July 2. I still don’t think negotiations are finished. But if we have to cease negotiations, by God, I want this to be public.”

 

[RABBIT]

Things are essentially as they have always been. There's an offer on the table that is supposedly "final". Yet the sides are going back and forth and it would appear this is still negotiable. The council will vote on some form of a deal that's similar to the one we've seen on Tuesday. They might vote to accept the deal, they might not. Nobody knows what the outcome of that vote will be at this point.

Even if they vote to take the deal, it could still fall apart. Jamison's did. Hulsizer's did. There is always the unforeseen monkey wrench that could show up at the last minute.

Even if no such landmines appear, and the deal is finalized, sale complete - there is a very, very real possibility that RSE is unable to turn this mess around in five seasons. If they can't, they have an out clause. We could end up right back here a half decade from now with the same headaches.

So, what you should be hoping for is that the deal can somehow become more appealing to Glendale without severely limiting RSE's chances of actually making it work in the next five seasons. Then, you should hope the council votes for it. Then you should hope nothing else screws it up before it's finalized. Then you should hope that RSE can turn hockey around in the valley for the first time ever and start making some money for themselves and for the city.

The odds are not good. When have they ever been? They've got as good a shot now as ever.

As for us? Same as always; just wait around...

Appreciate it brotha.

 

[zz]

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.

Keep in mind that there's an $ 80M loan that's already set up to cover expected debt. The way I understand it, once 60% of that amount gets used to keep the franchise running and 5 years have passed, the team can relocate.

 

[IPreferPi]

Weiers finally eschews the muzzle:

Craig Morgan @cmorganfoxaz

Glendale Mayor Jerry Weiers on accusations he's blocking the deal at all costs: “I want to be very clear on that bit. They are completely and totally wrong -- not even close to being correct. I have gone on the side of caution to make sure we don’t violate any attorney-client privilege, but it is what it is. I’m the biggest target so people take their shots.â€

Glendale Mayor Jerry Weiers on the notion that his connections to John Kaites are influencing his actions: "No truth whatsoever. There is no connection with John Kaites. If John Kaites is behind any of these hockey deals, I’m not aware of it.â€

Jerry Weiers was also asked if Kaites has any connection to either of the Beacon bids for arena-management: "None that I am aware of."

Glendale Mayor Jerry Weiers on the current developments: "Three council members have forced my hand to have a voting meeting on July 2. I still don’t think negotiations are finished. But if we have to cease negotiations, by God, I want this to be public.â€

Glendale Mayor Jerry Weiers on a July 2 vote: "My concern, quite honestly, is the fact that we’re trying to rush to get something done and I don’t think we’re being responsible in taking our time to go through the details."

Glendale Mayor Jerry Weiers on the short time frame for getting a deal approved: “I understand that. It does constitute an emergency on my part because it affects my city. I’m just not willing to step out and make bad ecisions.â€

 

[zz]

Glendale Mayor Jerry Weiers on a July 2 vote: "My concern, quite honestly, is the fact that we’re trying to rush to get something done and I don’t think we’re being responsible in taking our time to go through the details."

I honestly don't know whether I should laugh or cry.

 

[Sinurgy]

Jerry Weiers was also asked if Kaites has any connection to either of the Beacon bids for arena-management: "None that I am aware of."

I.e. maybe

 

[rt]

Bettman and Daly basically came right out and said if they don't vote for the deal on July 2nd, they will relocate the Coyotes to another market.

 

[IPreferPi]

Kudos to RSE for showing the door to Hulsizer - 45 million or not, that bozo's time has passed.

John Gambadoro @Gambo620
Renaissance has broken off negotiations with Mathew Hulsizer who was prepared to inject 45 million dollars into the deal. Not good news

 

[rt]

Agreed. Hulsizer gone is good news. I'm not interested in rooting for a team he owns, regardless of where they play. I don't need that meddling monkey molesting my maloney.

 

[XX]

So about all the meeting did was put to bed the notion that the team can't be relocated, and that July 2nd is apparently a hard deadline. So in less than a week we will know if hockey has a future here in the valley.

 

[Howler Scores]

KTAR smack down

John
Renaissance has broken off negotiations with Mathew Hulsizer who was prepared to inject 45 million dollars into the deal. Not good news
Craig
@Gambo620 And what does Hulsizer want in return? http://*******/14Y1w8F Not happening. Old news.
John
@cmorganfoxaz Dont be fooled by these Renaissance guys, I don't believe they plan on keeping the team hear long term
Craig
@Gambo620 It's certainly possible they'll leave. I've never discounted that option. Why don't you call them and get their take?
John
@cmorganfoxaz whose to say I havent
Craig
@Gambo620 Anthony LeBlanc.
Daryl Jones (member of RSE)
@Gambo620 we were never in negotiations.
John
sorry not old news. Jones contacted Hulsizer this morning!
Daryl
Wrong again Gambo

https://twitter.com/Gambo620
https://twitter.com/cmorganfoxaz
https://twitter.com/Hedgeye

 

[rt]

So about all the meeting did was put to bed the notion that the team can't be relocated, and that July 2nd is apparently a hard deadline. So in less than a week we will know if hockey has a future here in the valley.

You say "about all" like it's not a big deal. Gary Bettman just stated publicly that if Glendale doesn't give him what he wants in the next five days that he's moving the Coyotes out of Glendale.

This is the biggest news since the BK.

 

[jdfitz12]

Glendale Mayor Jerry Weiers on a July 2 vote: "My concern, quite honestly, is the fact that we’re trying to rush to get something done and I don’t think we’re being responsible in taking our time to go through the details."


REALLY !!!

 

[XX]

You say "about all" like it's not a big deal. Gary Bettman just stated publicly that if Glendale doesn't give him what he wants in the next five days that he's moving the Coyotes out of Glendale.

This is the biggest news since the BK.

Only if you thought it was somehow unexpected. This is the first season where the NHL would be on the hook for unlimited losses. Pretty clear that the team would be moved if they were still on the hook. They basically said as much at their presser a week or two ago.

 

[IPreferPi]

KTAR smack down


https://twitter.com/Gambo620
https://twitter.com/cmorganfoxaz
https://twitter.com/Hedgeye

Pretty hilarious to see Gambo get eviscerated.

 

[coyotes]

Okay let's get down to the votes and predictions. This is what it comes down to on July 2nd. Based on discussions, voting history and innuendo, this is where I see the votes going

Yvonne Knaack = yes
Gary Sherwood = yes
Manny Martinez = yes
Norma Alvarez = no
Sammy Chavira = no (he replaced Joyce Clark who was pro-Coyotes)
Ian Hugh = no

Jerry Weiers = Yes, it's going to come down to him. He has been to Coyotes games and is allegedly a fan. However, he doesn't appear to like the current deal and wants to delay it. However, all politicians are self preservationists first. And the mayor knows that if he is known as the person to kill the Coyotes deal, that is political suicide for him. He will do what any good politician does, he will vote in a way that improves his chance of re-election. He will vote Yes

Coyotes remain!!

 

[Howler Scores]

Weiers will be a big fat no. However, I am starting to wonder about Chavira. Granted he may have joined the "yes to the vote" gang to get it over with, but if he cant get his buddy a Management deal, why should Weiers get his?

 

[rt]

Only if you thought it was somehow unexpected. This is the first season where the NHL would be on the hook for unlimited losses. Pretty clear that the team would be moved if they were still on the hook. They basically said as much at their presser a week or two ago.

Suspicions didn't mean much to me. Now that they are confirmed, it's a bombshell for me.

 

[XX]

Weiers will be a big fat no. However, I am starting to wonder about Chavira. Granted he may have joined the "yes to the vote" gang to get it over with, but if he cant get his buddy a Management deal, why should Weiers get his?

I don't think Kaites is involved. Does he even have prior links to either group? The dude is lower than snake **** in local politics. He is linked to damn near everything, including the Reinsdorf bid to save the Coyotes. He greases wheels for a living.

Kudos to Chavira for at least forcing the thing to a vote. I would have been more hopeful if it was Martinez, who apparently switched to the dark side, that forced the vote.

The 2nd will be a total circus if they allow public comments. I could easily see a few tentative votes melting under the pressure of a room full of Coyote fans. These are local politicians after all, not cold blooded league officials who run things from a distant office.

 

[IPreferPi]

Okay let's get down to the votes and predictions. This is what it comes down to on July 2nd. Based on discussions, voting history and innuendo, this is where I see the votes going

Yvonne Knaack = yes
Gary Sherwood = yes
Manny Martinez = yes
Norma Alvarez = no
Sammy Chavira = no (he replaced Joyce Clark who was pro-Coyotes)
Ian Hugh = no

Jerry Weiers = Yes, it's going to come down to him. He has been to Coyotes games and is allegedly a fan. However, he doesn't appear to like the current deal and wants to delay it. However, all politicians are self preservationists first. And the mayor knows that if he is known as the person to kill the Coyotes deal, that is political suicide for him. He will do what any good politician does, he will vote in a way that improves his chance of re-election. He will vote Yes

Coyotes remain!!

I'm inclined to think Weiers will be a yes too ultimately. But like with Jamison, I'm sure there's going to be more tweaking and compromising after the deal gets approved to mollify Glendale's legitimate concerns. Which of course opens the door for further complications along the way.