Phoenix CXXVII: Neither a Barroway Nor a Lender Be

[Snarky Coyote]

Could it be Sarver is one of the minority partners? I mean why not I find it hard to believe that anything is impossible in this day and age with this team. I could also see the minority partners being Boots, The Balkan and Balsilee.

Phoenix CXXVIII
Barro all the way?

 

[JimAnchower]

Phoenix CXXVIII: Bye, Bye Ice Arizona's Guys

Phoenix CXXVIII: Send out the clowns.

Update mine to:

Phoenix CXXVIII: Bye, Bye Ice Arizona's Guys (The Day the Circus Died)

 

[The Feckless Puck]

It's official...

http://arizonasports.com/story/1140482/barroway-completes-buyout-coyotes-minority-owners/

...and a VERY interesting nugget here:

ArizonaSports.com has learned that there is interest from at least two groups in either buying a portion of the team, or all of it from Barroway.

 

[canuckfan75]

If Silver and Bettman are working together there is hope.

I have a lot of respect for Adam Silver they way he handled the Clipper Sale a few years back. He has a lot of power and can make people like Sarver move when they do not want to.

 

[cbcwpg]

Not to sound negative, but in regards to:

ArizonaSports.com has learned that there is interest from at least two groups in either buying a portion of the team, or all of it from Barroway.

I would be interested in who the source is on this. If it's Bettman ( the same Gary Bettman who once said there were 22 potential buyers of the Atlanta Thrashers ) I would just take this as league propaganda to keep the hope up. If it's another source, then yes, very interesting.

 

[rt]

It's official...

http://arizonasports.com/story/1140482/barroway-completes-buyout-coyotes-minority-owners/

...and a VERY interesting nugget here:

So long clowns. They all piled into their tiny car and puttered back up to the great white north.

 

[The Feckless Puck]

Not to sound negative, but in regards to:

ArizonaSports.com has learned that there is interest from at least two groups in either buying a portion of the team, or all of it from Barroway.

I would be interested in who the source is on this. If it's Bettman ( the same Gary Bettman who once said there were 22 potential buyers of the Atlanta Thrashers ) I would just take this as league propaganda to keep the hope up. If it's another source, then yes, very interesting.

I'm more interested, personally speaking, about whether these groups who are allegedly interested in buying the team from Barroway are located outside of Arizona. Say, in a tiny city in an eastern Canadian province, or somewhere in the Pacific Northwest.

 

[Tom ServoMST3K]

It's official...

http://arizonasports.com/story/1140482/barroway-completes-buyout-coyotes-minority-owners/

...and a VERY interesting nugget here:

I think that was what a lot of us expected. The first signs of smoke for a flip?

 

[mesamonster]

Not to sound negative, but in regards to:

ArizonaSports.com has learned that there is interest from at least two groups in either buying a portion of the team, or all of it from Barroway.

I would be interested in who the source is on this. If it's Bettman ( the same Gary Bettman who once said there were 22 potential buyers of the Atlanta Thrashers ) I would just take this as league propaganda to keep the hope up. If it's another source, then yes, very interesting.

With Barroway the sole owner, he has now put himself in a spot whereby he needs to make things happen NOW! Without other deep pocketed partners, his chances for success are minimal at best! The fact that the league was taken out of the equation by the MGG loan, suggests that GB has now thrown the ball to AB. He has to know that AB is going to strangle himself on interest expense and anemic revenue projections at GRA. In other words, this is no longer GB`s issue.

 

[Slashers98]

With Barroway the sole owner, he has now put himself in a spot whereby he needs to make things happen NOW! Without other deep pocketed partners, his chances for success are minimal at best! The fact that the league was taken out of the equation by the MGG loan, suggests that GB has now thrown the ball to AB. He has to know that AB is going to strangle himself on interest expense and anemic revenue projections at GRA. In other words, this is no longer GB`s issue.

Should we expect a bat flip or a franchise flip now?

 

[tony d]

Could be interesting news for sure, wonder who the interested owners could be. Are they Arizona based? Or somewhere else?

 

[Llama19]

Phoenix CXXVIII: Bye, Bye Ice Arizona's Guys

Just a minor edit: Phoenix CXXVIII: Bye, Bye Miss (the) IA Guys

Andy needs a new home, unfortunately it will not be with Sarver and his Suns! Sarver holds all of the cards in this saga, why would he split his arena revenue with a man who thus far has shown he does not have the funds to build an arena. The narrative needs to look toward the tribes as his only hope, does GB really want a partnership there?

Nice, mesamonster...you broke the news first on LeBlanc and Drummond out as of June 30...

Then if the attention is leaning towards Phoenix and a shared building with the Suns, that doesn't seem to bode well for working with the tribe. With the tribe it's at least more conceivable that the Coyotes would be the primary tenant and not sharing dates.

It tells me even with Barroway taking over, the team doesn't have enough $$$ to on their own. Less money would be involved with a shared building with the Suns but it of course it comes down to what kind of incentive can be given to Sarver to give up a pretty good deal right not and in a building with better sightlines.

Not seeing any of this panning out for a local arena solution...

Sadly the LeBlanc era in AZ is coming to a close. Rarely has there been such ripe fodder for gifs and over the top and ill informed quotes. The entertainment value in this mega thread just cratered.

Yes it is a sad, sad day...

With Barroway the sole owner, he has now put himself in a spot whereby he needs to make things happen NOW! Without other deep pocketed partners, his chances for success are minimal at best! The fact that the league was taken out of the equation by the MGG loan, suggests that GB has now thrown the ball to AB. He has to know that AB is going to strangle himself on interest expense and anemic revenue projections at GRA. In other words, this is no longer GB`s issue.

I think that was what a lot of us expected. The first signs of smoke for a flip?

Hope Barroway has a backup plan...wait...I think he does...

 

[Mightygoose]

Another couple interesting nuggets from the article.

Barroway had initially considered bringing in additional investors such as Tampa Bay Rays minority owner Randy Frankel, but this buyout was completed through a loan with MGG Investment Group, a specialty finance group focused on direct lending. League sources said Barroway was also able to remove the NHL’s portion of the loan through MGG.

When Barroway became the majority owner in 2014, the Coyotes were considered U.S. owned, granting them access to the NHL’s credit line (around $100 million) at a low interest rate through Bank of America and Citibank; a move that would have been taxable in Canada. Part of Barroway’s debt is financed via that credit line; the rest through MGG at a higher interest rate.

I interpret this that the 85 million loan from the NHL interest free until next year is now retired?

So this means with the clowns gone, there is less real equity being brought to the team and no additional partners. So how is he supposed to put money into a new arena with the Suns?

The Coyotes will continue to pursue multiple arena options, including a downtown location or a partnership with a municipality that might help get legislation through the Arizona Legislature in order to help defray the construction cost with a special tax district. There is also a site available on Pima-Maricopa Indian Community land which Arizona Sports first reported in October, but there is no current indication the Coyotes are pursuing that location.

Could this municipality be Phoenix? Would the state find a new arena for both teams be more palatable. Get the state to pay, builds in the subsidy for the Coyotes via the tax district and the Suns keep their 'regular' revenues through the building.

Will miss LeBlanc's rhetorics of nothingness but fun times ahead still.

 

[CasualFan]

Phoenix CXXVIII: Send out the clowns.

Haha- that is great. Like rt said, pile back into that tiny car and putter back home, fellas. At least there's a bit more room in the IAMobile now that everyone's wallet is empty.

:song: I will remember you...

 

[Aavco Cup]

http://www.tsn.ca/report-barroway-now-sole-owner-of-coyotes-1.776505

A Philadelphia-based hedge fund manager, Barroway bought a 51 per-cent stake in the club in late 2014. The IceArizona group had purchased the team from the National Hockey League in the summer of 2013.
Morgan also reports that there are at least two groups interested in buying a stake or even all of the team from Barroway. At this time, however, it does not appear that Barroway is looking for other investors.

 

[Llama19]

...So this means with the clowns gone, there is less real equity being brought to the team and no additional partners. So how is he supposed to put money into a new arena with the Suns?

Exactly...what money...

Could this municipality be Phoenix? Would the state find a new arena for both teams be more palatable. Get the state to pay, builds in the subsidy for the Coyotes via the tax district and the Suns keep their 'regular' revenues through the building.

Unlikely...

Will miss LeBlanc's rhetorics of nothingness but fun times ahead still.

Just waiting for Barroway to speak...

 

[Killion]

Sadly the LeBlanc era in AZ is coming to a close. Rarely has there been such ripe fodder for gifs and over the top and ill informed quotes. The entertainment value in this mega thread just cratered.

Hardly. Buckle up, get ready for Act CXXVIII & beyond wpgallday. Things are about to get real interesting.

We're back on the sun's train?

It would have always been cheaper for Sarver, if he wants to host a hockey team in his arena, to just buy the coyotes, instead of giving up what he would need to give up to make the coyotes viable as tenants.

Apparently so. Your quite right about single ownership of course however Sarver's not one of the Super-Rich NBA owners & has no interest in hockey, the NHL. Not sure whats in it for Commissioner Silver of the NBA to Tag-Team with Bettman in attempting to force Sarvers' compliance in working with their poorer cross-town cousins in the Coyotes. Charity begins at home, Sarver & the Suns treading water as it is, has several secondary tenant clubs calling TSRA home, concerts & events running along tickety-boo. What incentive could Silver possibly provide, asking him to split naming rights, concessions & parking, sponsorships etc etc etc and why would Silver even go there? He has a legal & fiduciary responsibility to protect the interests of his member clubs & the sanctity of the NBA as a whole. Who's he to just waltz in & tell an owner to be doing a deal with an NHL club, giving away much needed revenue, causing crippling pain to an already stretched operation? He, Silver, works for Sarver. Not the other way around. Beyond arrogant & overarching to be forcing an unwanted partnership in arena revenues on one of his owners particularly as Sarver's totally in the drivers seat here so why would or should he just give that up & comply? This report if true promises yet more fireworks to say the least.

It's official...

http://arizonasports.com/story/1140482/barroway-completes-buyout-coyotes-minority-owners/

...and a VERY interesting nugget here:

Yeah, that is very interesting.... if true..... and if it is the franchise could change hands yet again & rather swiftly.

Just a minor edit: Phoenix CXXVIII: Bye, Bye Miss (the) IA Guys

Nice, mesamonster...you broke the news first on LeBlanc and Drummond out as of June 30...

Yea, you called it mesa!.... and Good Riddance. Maybe now we'll get the lowdown from whomever on what really went down with LeBlanc et al but I wouldnt hold my breath. Very often transcations of this kind come with non-disclosure strings. Keep it zipped. No word on what the status is of the Tucson Roadrunners so if not included in the sale, affiliate agreement with Barroway & the Coyotes, LeBlanc wont be moving out of State however it is included in the sale & he does move on, it wouldnt be to his benefit or advantage to speak out of Church & open up about anything as it reflect badly on him, close doors that may be open elsewhere in the League. If the treacherous, duplicitous, lying sack of **** Don Waddell, after what he pulled in Atlanta over the course of a decade can land on his feet (amongst other examples) then I'm sure Anthony LeBlanc can & likely will do the same provided he plays Good Soldier.

 

[cbcwpg]

Apparently so. Your quite right about single ownership of course however Sarver's not one of the Super-Rich NBA owners & has no interest in hockey, the NHL. Not sure whats in it for Commissioner Silver of the NBA to Tag-Team with Bettman in attempting to force Sarvers' compliance in working with their poorer cross-town cousins in the Coyotes. Charity begins at home, Sarver & the Suns treading water as it is, has several secondary tenant clubs calling TSRA home, concerts & events running along tickety-boo. What incentive could Silver possibly provide, asking him to split naming rights, concessions & parking, sponsorships etc etc etc and why would Silver even go there? He has a legal & fiduciary responsibility to protect the interests of his member clubs & the sanctity of the NBA as a whole. Who's he to just waltz in & tell an owner to be doing a deal with an NHL club, giving away much needed revenue, causing crippling pain to an already stretched operation? He, Silver, works for Sarver. Not the other way around. Beyond arrogant & overarching to be forcing an unwanted partnership in arena revenues on one of his owners particularly as Sarver's totally in the drivers seat here so why would or should he just give that up & comply? This report if true promises yet more fireworks to say the least.

I would love to be a fly on the wall and hear that sales pitch. " We have such a deal for you "... " be a good neighbor and help out a hockey team "....

Even if Sarver was to give Bettman and Silver an hour of his time.... what could they possibly say to him to get him to sign up for giving away revenue just so the Coyotes might possibly tread water ( assuming they even do that well ) ? I just don't see how you sell this as being a positive for the Suns.

To me, unless the gov'ts in the state ( municipal and state ) went to Sarver and told him that the only way he would get a dime for a new arena anywhere would be under the pretense that he would have to share the building with the Coyotes. And even that, being blackmail and all, would probably just end up seeing the Suns being eventually sold / moved out of the state IMO.

 

[madhi19]

Hardly. Buckle up, get ready for Act CXXVIII & beyond wpgallday. Things are about to get real interesting.

Our next countdown is to the end of the clowns NDA's. No way they all keep quiet when that happen.

I would love to be a fly on the wall and hear that sales pitch. " We have such a deal for you "... " be a good neighbor and help out a hockey team "....

Even if Sarver was to give Bettman and Silver an hour of his time.... what could they possibly say to him to get him to sign up for giving away revenue just so the Coyotes might possibly tread water ( assuming they even do that well ) ? I just don't see how you sell this as being a positive for the Suns.

To me, unless the gov'ts in the state ( municipal and state ) went to Sarver and told him that the only way he would get a dime for a new arena anywhere would be under the pretense that he would have to share the building with the Coyotes. And even that, being blackmail and all, would probably just end up seeing the Suns being eventually sold / moved out of the state IMO.

This sound a lot like a trial balloon to put pressure on the city of Phoenix to have a two teams one arena deal. I would not be shocked if the NBA is not even on board. I bet if asked they want nothing to do with it. So it ASU all over again. Off course they try again at the state level.

 

[Tom ServoMST3K]

Our next countdown is to the end of the clowns NDA's. No way they all keep quiet when that happen.

I'd bet a large amount of money The NDA's will last longer than Barroway's ownership of this team.

 

[cbcwpg]

https://arizonasports.com/story/1140482/barroway-completes-buyout-coyotes-minority-owners/

Daly's comment...

“The reorganization is an effort to consolidate and strengthen the ownership and to resolve various disputes among the existing owners,” NHL Deputy Commissioner Bill Daly said. “We believe this will better position the club to achieve a long-term solution in the Valley.”

**

Would be interesting to see what the disputes were. But like Killion said, probably unlikely.

Also:

http://pilotonline.com/sports/hocke...cle_a4e80cad-d717-5e4b-8808-5c48d890244d.html

The NHL's board of governors must approve any ownership changes and could do so at its meeting later this month.

***

Why bother... Who's going to vote no to handing this all off to Barroway.

 

[Killion]

Haha- that is great. Like rt said, pile back into that tiny car and putter back home, fellas. At least there's a bit more room in the IAMobile now that everyone's wallet is empty.

:song: I will remember you...

.... ahhhh.... that song always brings a tear to my eye..... the SPCA in my market using it non-stop during their Telethons to raise money and ya I always dig..... anyhoo..... you at all familiar with MGG Investment Group?... Only been around for a few years, starting up with $200M in seed money from MG Capital which is owned by McCourt Global. Supposedly to date completing over $3B in transactions. As Barroway financed the buyout & acquisition seemingly in its entirety (so much for the NHL's much vaunted policies with respect to cash equity & financing %'s) and at "higher interest rate's than bank" I'm wondering what he's lookng at here, Fortress range possibly, and... what would move the dial at MGG to be providing said funds as it beggars imagination let alone belief to think they did so based on an "as is where is" basis.

 

[Llama19]

I would love to be a fly on the wall and hear that sales pitch. " We have such a deal for you "... " be a good neighbor and help out a hockey team "....

Even if Sarver was to give Bettman and Silver an hour of his time.... what could they possibly say to him to get him to sign up for giving away revenue just so the Coyotes might possibly tread water ( assuming they even do that well ) ? I just don't see how you sell this as being a positive for the Suns.

As Killion stated previously...too many things are already happening at Talking Stick Arena...chopping those revenue streams to take a chance on hockey revenue streams...are just further dilution of what is already there...

To me, unless the gov'ts in the state ( municipal and state ) went to Sarver and told him that the only way he would get a dime for a new arena anywhere would be under the pretense that he would have to share the building with the Coyotes. And even that, being blackmail and all, would probably just end up seeing the Suns being eventually sold / moved out of the state IMO.

Political blackmail is a past-time in Arizona...

Our next countdown is to the end of the clowns NDA's. No way they all keep quiet when that happen.

LeBlanc cannot help himself in keeping quiet much longer and is likely bursting to let it all out...

 

[madhi19]

.... ahhhh.... that song always brings a tear to my eye..... the SPCA in my market using it non-stop during their Telethons to raise money and ya I always dig..... anyhoo..... you at all familiar with MGG Investment Group?... Only been around for a few years, starting up with $200M in seed money from MG Capital which is owned by McCourt Global. Supposedly to date completing over $3B in transactions. As Barroway financed the buyout & acquisition seemingly in its entirety (so much for the NHL's much vaunted policies with respect to cash equity & financing %'s) and at "higher interest rate's than bank" I'm wondering what he's lookng at here, Fortress range possibly, and... what would move the dial at MGG to be providing said funds as it beggars imagination let alone belief to think they did so based on an "as is where is" basis.

Refinancing at a higher interest rate. Not exactly the smartest of moves unless you really don't plan on having to service that debts long term.

 

[The Feckless Puck]

Refinancing at a higher interest rate. Not exactly the smartest of moves unless you really don't plan on having to service that debts long term.

Exactly my thinking. This has all the earmarks of a short-term situation. He's going to flip the team to someone. The question now is who that will be.