Speculation: Ownership Saga:Glendale City Council passes Phoenix Coyotes arena deal (Read post #1)

[pacdunes]

yes - let's get to the vote and move forward. Enough speculation. Whining is for a toddler who isn't getting his way.

 

[doaner]

It's called Election Day 2012, the voters spoke on that day in order to bring in politicans to stop any kind of deal that would keep the team in Glendale. July 2nd will be the day that deterimes if they same people who got voted in will stick to their guns or not. Damn those real facts.






Rants are not facts.

We're they just lazy before? Or maybe they could not find jones? Kinda silly and childish to put you're blah blah to somebody else. Lets grow up here. Lets act like mature adults or you need to move on!

 

[XX]

We're they just lazy before? Or maybe they could not find jones? Kinda silly and childish to put you're blah blah to somebody else. Lets grow up here. Lets act like mature adults or you need to move on!

I really wouldn't expect any paper based initiative to find traction, overwhelming support or not. These sorts of things should be run through the city's website. Not just for the Coyotes issue, but for better governance overall. If I was a crooked politician, I'd try to pass something controversial in the summer. Who the hell wants to collect signatures in 110 degree heat? It's a flawed system.

That the council had some turnover due to their previous behavior is a fair point.

If RSE doesn't balk at the latest demands, I see this passing. Closing and having real ownership is another matter altogether.

 

[pfp]

If RSE doesn't balk at the latest demands, I see this passing. Closing and having real ownership is another matter altogether.

If the NHL will allow RSE to relocate in the event COG pulls the plug, which mathematically I can't see any way for COG to loose $50M in 5 years anyways, then why would RSE care. They will pack up and move to a much more profitable location.

 

[XX]

If the NHL will allow RSE to relocate in the event COG pulls the plug, which mathematically I can't see any way for COG to loose $50M in 5 years anyways, then why would RSE care. They will pack up and move to a much more profitable location.

RSE has yet to agree to guaranteeing all revenue. The city having an out clause also changes the parameters of the situation for lenders. RSE will not be able to relocate in the traditional sense. They will have to sell the team to another group in another city to pay off their debts.

 

[rt]

Can I get an update? The BoH is EXPLODING and I can't follow what's going on.

Thanks guys.

 

[XX]

Can I get an update? The BoH is EXPLODING and I can't follow what's going on.

Thanks guys.

Long story short; Glendale doesn't like the RSE bid, will post a counter-offer.

All council members appear to be in favor of the counter-offer except Alvarez, and possibly Hugh. They will not vote on RSE's offer, only the counter-offer. It's a take it or leave it from Glendale. The counter-offer includes an out for the city and the demand that all revenue be guaranteed by RSE, something they previously balked at.

Martinez and the Mayor, previous unknowns, appear to be 'yes' votes for the counter-offer, so it would pass by a comfortable margin.

SMG reportedly bid 100 events for $6m or less.

 

[RABBIT]

Long story short; Glendale doesn't like the RSE bid, will post a counter-offer.

All council members appear to be in favor of the counter-offer except Alvarez, and possibly Hugh. They will not vote on RSE's offer, only the counter-offer. It's a take it or leave it from Glendale. The counter-offer includes an out for the city and the demand that all revenue be guaranteed by RSE, something they previously balked at.

Martinez and the Mayor, previous unknowns, appear to be 'yes' votes for the counter-offer, so it would pass by a comfortable margin.

SMG reportedly bid 100 events for $6m or less.

So....good news?

 

[XX]

So....good news?

Not necessarily. By putting on their sunglasses and telling RSE to deal with it, they may cause the deal to collapse. Remember that RSE pulled the plug earlier in the week and Plan B was in motion, but Sherwood resuscitated the deal in the AM hours. They walked away over having to guarantee the revenue to the city, and they probably will again.

Either way, the city is covered. If the SMG bid thing is true, they are comfortable with the Coyotes walking. They should be. If RSE accepts the counter-offer, the city is legally covered and only short something like $1-2 million a year.

 

[letsgoavs1921]

So....good news?

No awful news. RSE will never go for it. This puts it back to where it was a few nights ago when RSE almost pulled the plug and said they are done.

 

[letsgoavs1921]

Not necessarily. By putting on their sunglasses and telling RSE to deal with it, they may cause the deal to collapse. Remember that RSE pulled the plug earlier in the week and Plan B was in motion, but Sherwood resuscitated the deal in the AM hours. They walked away over having to guarantee the revenue to the city, and they probably will again.

Either way, the city is covered. If the SMG bid thing is true, they are comfortable with the Coyotes walking. They should be. If RSE accepts the counter-offer, the city is legally covered and only short something like $1-2 million a year.

Wrong. If the Coyotes leave they write a $25 million check to the NHL next week, have an empty arena that costs millions per year, and all the businesses at Westgate close

 

[XX]

Wrong. If the Coyotes leave they write a $25 million check to the NHL next week, have an empty arena that costs millions per year, and all the businesses at Westgate close

You forgot your sarcasm smiley. Or do you legitimately believe that? I've got some hot real estate on the moon to sell you if so.

 

[letsgoavs1921]

You forgot your sarcasm smiley. Or do you legitimately believe that? I've got some hot real estate on the moon to sell you if so.

Do I legitimately believe what? What did I say that wasn't accurate?

 

[XX]

Do I legitimately believe what? What did I say that wasn't accurate?

Why isn't Westgate a pile of rubble, seeing as how there have been two lockouts during its existence? Why are there more bars and restaurants scheduled to come to Westgate (liquor apps. are up) despite the Coyotes situation? I'm not going to humor your argument. There isn't a shred of truth to it. It's dishonest, and it's the same type of crap used to sway fans who are emotional about their team. A shopping center does not cease to exist because the team, only there for 41 days a year, leaves. Westgate and Tanger are doing great because the economy is doing better, and (according to tax revenue) did well in spite of the Coyotes.

I absolutely dare you to go back in this thread or on the BoH and read the numbers. They spell out very clearly that "Westgate will fail" is nothing more than a scare tactic peddled by idiots, for idiots.

That's before we get to SMG possibly bringing 100 nights to the table. 100 nights a year there will be extra traffic, as opposed to 41. Pretty sweet deal for Westgate. If you want to play up the team, you have to admit that the SMG bid could be even better. If you want to downplay SMG, you admit that the Coyotes are irrelevant.

 

[rt]

So the game of chicken continues.

If the RSE deal is killed, is there any chance the CoG and NHL agree to one year at 6m?

 

[XX]

So the game of chicken continues.

If the RSE deal is killed, is there any chance the CoG and NHL agree to one year at 6m?

That would look silly after threatening to move the team, but it is possible. I'm not sure how you sell it as anything other than a lame duck season, or how appetizing those losses would be to the league. I'd say staying another year is Plan B, because it will be on the leagues unprotected dime.

 

[letsgoavs1921]

Why isn't Westgate a pile of rubble, seeing as how there have been two lockouts during its existence? Why are there more bars and restaurants scheduled to come to Westgate (liquor apps. are up) despite the Coyotes situation? I'm not going to humor your argument. There isn't a shred of truth to it. It's dishonest, and it's the same type of crap used to sway fans who are emotional about their team. A shopping center does not cease to exist because the team, only there for 41 days a year, leaves. Westgate and Tanger are doing great because the economy is doing better, and (according to tax revenue) did well in spite of the Coyotes.

I absolutely dare you to go back in this thread or on the BoH and read the numbers. They spell out very clearly that "Westgate will fail" is nothing more than a scare tactic peddled by idiots, for idiots.

That's before we get to SMG possibly bringing 100 nights to the table. 100 nights a year there will be extra traffic, as opposed to 41. Pretty sweet deal for Westgate. If you want to play up the team, you have to admit that the SMG bid could be even better. If you want to downplay SMG, you admit that the Coyotes are irrelevant.

If they leave we will see who is right in a coup,e years. And I'm saying the places currently there will go out of businesses. New ones may come in but my point is the current ones won't make it because the coyotes left

 

[XX]

If they leave we will see who is right in a coup,e years. And I'm saying the places currently there will go out of businesses. New ones may come in but my point is the current ones won't make it because the coyotes left

The Westgate Entertainment District in Glendale recently landed the largest office tenant in its seven-year history.

Terminix, a Memphis-based pest-control firm, will launch its fifth call center in the United States and its first in the West when it opens at the mixed-used commercial development near Loop 101 and Glendale Avenue.

The pest-control company has franchises in 45 states, including Arizona. The call center would dispatch employees to service residential and commercial buildings.

The center should open in October and employ 250 to 300 people, Westgate Development Manager Jeff Teetsel said. Westgate currently has about 100 office employees, he said.

With Terminix’s 32,800-square-foot lease, Westgate’s Class A office space is about half filled, Teetsel said.

http://www.azcentral.com/business/c...t-tenant-its-largest-date.html?nclick_check=1

The Westgate Entertainment District area hasn’t seen such an influx of new businesses since shortly after opening seven years ago.

Westgate officials this week announced that Whiskey Rose Saloon, a bar, restaurant and music venue dressed in Southern flair, will open by July. That follows last month’s news that Buffalo Wild Wings will open by football season.

Across 95th Avenue, just outside Westgate proper, the area recently got its first coffee shop, Flora House Cafe, since Tulley’s Coffee closed a year ago. And next door sits the newly opened Majestic Sports and Grill, which is geared toward a Latino crowd with Mexican food and international soccer games on the TVs.

Westgate development manager Jeff Teetsel said to expect more to come. Four or five other business owners are ironing out the final details with Westgate management.

With those announcements, Teetsel estimates 80 percent of the retail space will be hopping. The district has maintained about a 70 percent occupancy rate since the new management took over a couple of years ago.

“I used to think this was the worst location,†said Juan Dorantes, general manager at My Big Fat Greek Restaurant, which is next to the coffee shop on 95th Avenue. “Now, I think it is the best.â€

Dorante’s restaurant moved to west Glendale four years ago, on the heels of the economic meltdown and the Phoenix Coyotes’ bankruptcy. The corridor near Glendale Avenue and Loop 101, which depended heavily on hockey fans headed to games at Jobing.com Arena, took another blow two years later when lenders foreclosed on Westgate.

Dorantes stuck it out despite fears that the area housed too many restaurants for too few customers. On a good Friday, he said he was lucky to bring in $500.

Then Tanger Outlets opened next door in November, which he said saved his business. He now pulls in $5,000 on Fridays, and there’s plenty of customers to go around, he said.

Poised between Tanger and Westgate, his new neighbors are equally optimistic.

http://www.azcentral.com/community/...tgate-nd-wind-whips-up-mix-eateries-bars.html

Reading is good for you.

 

[pfp]

Do I legitimately believe what? What did I say that wasn't accurate?

Pretty much all of it. 20M is already in an escrow account for the NHL so no check for $25M and while possible it's doubtful Westgate implodes without the team.

 

[Sinurgy]

It's called Election Day 2012, the voters spoke on that day in order to bring in politicans to stop any kind of deal that would keep the team in Glendale. July 2nd will be the day that deterimes if they same people who got voted in will stick to their guns or not. Damn those real facts.

The election was not based on a singular issue much less the singular issue being the stopping any kind of deal to keep the Coyotes in Glendale. Damn those real "facts".

 

[Sinurgy]

SMG reportedly bid 100 events for $6m or less.

Source?

 

[letsgoavs1921]

http://www.azcentral.com/business/c...t-tenant-its-largest-date.html?nclick_check=1





http://www.azcentral.com/community/...tgate-nd-wind-whips-up-mix-eateries-bars.html

Reading is good for you.

MOD EDIT: Like i said time will tell who is right if they leave. So it's not worth arguing about. I could be wrong

 

[Tad Mikowski]

Source?

they mentioned it in the council meeting

 

[XX]

Source?

Hugh blabbed about the RFP bids (which are still technically sealed) during the workshop. He was adamant that the RFP bids were better deals for the city. The Republic has requested the bids but I doubt we see them before a vote. We may never see them if RSE completes the deal.

 

[RemoAZ]

MOD EDIT: Like i said time will tell who is right if they leave. So it's not worth arguing about. I could be wrong

I believe you are right. All you have to do is talk to some actual business owners/managers at Westgate but that would require some to actually get out from behind their computers.