Phoenix CXXVIII: The Grass is Always Greener On The Other Side Of The I-17

[Llama19]

Huh. Purged. Deleted. Gone. That was fast, efficient.

Yet...no official press release to that fact...just what has been tweeted...

Not a good start for Barroway, not conveying confidence publicly after the purging...

He must have used a Sunshine Cleaning crew...

 

[Llama19]

What is he saying? The media targeted him and the 'yotes ownership unfairly?

Unfairly since 2009...

What is he looking for, exactly. Seems kinda juvenile

You expected professionalism?

 

[blues10]

Keith McCullough weighs in...

Probably would have worked out better if they stuck to the original plan of playing games in Saskatoon.

Actually not hiring Tindall and knowing how to run an NHL team and arena may have kept the band together a little longer.

Should be interesting to see Barroway's end game. I expect multiple arena ideas to be trotted out until mid December.

Call it crazy but Asian money may yet keep this team in Arizona. A billionaire that has money to burn and likes hockey.

 

[Killion]

What is he looking for, exactly. Seems kinda juvenile

Not entirely sure, but guessin Bob McCown mustve' said something about the Coyotes & IA that he didnt like or perhaps some silly bet but yes, juvenile. Without having heard it, no real context. "Fun run" bit the only thing notable as yes, Im sure it mustve been.

 

[TheLegend]

What is he looking for, exactly. Seems kinda juvenile

Depends upon what McCown did or what happened on his show a long time ago.

 

[blues10]

Huh. Purged. Deleted. Gone. That was fast, efficient.

It didn't even take two weeks.

Barroway ain't messin' round. Guy means business.

Runnin' in the drivers seat to destinations unknown. Sights set on the East Valley, err downtown, umm tribal land, somewhere.......in Arizona.......

 

[Llama19]

Another one from Daryl...

 

[TheLegend]

I didn't realize how much everyone missed Daryl Jones..... everyone seems so mesmerized by his Twitter account again.

But since he's the current SOD, I wonder how many of you knew he and Keith McCollough had teamed up with Martin St. Louis and a couple others to form a small investment firm to support sports related startups?

https://www.seven7llc.com/

 

[Llama19]

I didn't realize how much everyone missed Daryl Jones..... everyone seems so mesmerized by his Twitter account again.

But since he's the current SOD, I wonder how many of you knew he and Keith McCollough had teamed up with Martin St. Louis and a couple others to form a small investment firm to support sports related startups?

https://www.seven7llc.com/

Are they trying to partner with MGG?

 

[blues10]

Another one from Daryl...

It must be tough when the dream of being an NHL owner goes from reality back to obscurity. It must have been fun while it lasted. Many here predicted that this group was pretenders and it appears as though some were right.

Wasn't one of Leblanc's last quotes "living the dream"

Barroway should call a presser announcing himself as sole franchise owner.

 

[Llama19]

Probably would have worked out better if they stuck to the original plan of playing games in Saskatoon.

Actually not hiring Tindall and knowing how to run an NHL team and arena may have kept the band together a little longer.

Should be interesting to see Barroway's end game. I expect multiple arena ideas to be trotted out until mid December.

Call it crazy but Asian money may yet keep this team in Arizona. A billionaire that has money to burn and likes hockey.

The yuan has been on the decline since the beginning of 2017...

 

[madhi19]

Not entirely sure, but guessin Bob McCown mustve' said something about the Coyotes & IA that he didnt like or perhaps some silly bet but yes, juvenile. Without having heard it, no real context. "Fun run" bit the only thing notable as yes, Im sure it mustve been.

Bob been a hell of a lot more quiet than he should have on the subject. I would have gone a hell of a lot harder on the fools.

Rant mode activated./

This is not a day to be proud or happy. Your drinking buddies just kicked you out of the bar because when it time to pay your share of the tab your wallet always goes missing. You're the same dead beat millionaires that took Glendale to the cleaner. Take your buyout and go crawl back under the rock you came from.

 

[MNNumbers]

More on Frank McCourt

Concerning Frank McCourt, whose company is the some of the $$ behind the lender for Barroway....

https://en.wikipedia.org/wiki/2011_Los_Angeles_Dodgers_ownership_dispute

 

[Llama19]

It must be tough when the dream of being an NHL owner goes from reality back to obscurity. It must have been fun while it lasted. Many here predicted that this group was pretenders and it appears as though some were right.

Wasn't one of Leblanc's last quotes "living the dream"

Barroway should call a presser announcing himself as sole franchise owner.

Yes..back on his media circus tour in February...

Source (HFB post): http://hfboards.mandatory.com/showpost.php?p=127930069&postcount=409

 

[Killion]

Bob been a hell of a lot more quiet than he should have on the subject. I would have gone a hell of a lot harder on the fools.

Rant mode activated./

Yeah he's been very quiet on this subject really since 2009 when he was active on this file during the Moyes BK. Never struck me as being very well informed on this subject & the guests or co-hosts he had in discussing it, from Shoalts to whomever showing their biases one way or the other, the usually opinionated McCown never really contributing much.... or did I miss something? Not a follower of his show per se' unless I hear about some rant or supposed "inside scoop" that's worth looking up.

 

[CHRDANHUTCH]

Frank McCourt part II

Concerning Frank McCourt, whose company is the some of the $$ behind the lender for Barroway....

https://en.wikipedia.org/wiki/2011_Los_Angeles_Dodgers_ownership_dispute

keep going back further, MNN, McCourt was involved with another famous club/city.... ask Bruin fans about that part of it.... he tried to buy the Red Sox in 2002, around the time the Yawkey trust and Harrington backed out, in fact, Henry bought the estate McCourt owned, he's a native of Brookline....

 

[madhi19]

Yeah he's been very quiet on this subject really since 2009 when he was active on this file during the Moyes BK. Never struck me as being very well informed on this subject & the guests or co-hosts he had in discussing it, from Shoalts to whomever showing their biases one way or the other, the usually opinionated McCown never really contributing much.... or did I miss something? Not a follower of his show per se' unless I hear about some rant or supposed "inside scoop" that's worth looking up.

He just stopped caring at some point and he's not alone. It took a decade, but the NHL got the bored indifference that they wanted out of the media. When abnormality last this long it become the new normal. Nobody digging, nobody look all that hard at the story. One of the side benefit of kicking the can down the road so many times.

 

[Llama19]

It must be tough when the dream of being an NHL owner goes from reality back to obscurity. It must have been fun while it lasted. Many here predicted that this group was pretenders and it appears as though some were right.

Wasn't one of Leblanc's last quotes "living the dream"

Barroway should call a presser announcing himself as sole franchise owner.

Yep...almost always referred to them as placeholder owners...

Now that Barroway has taken over the place...who will (shortly) be taking his place...

 

[Major4Boarding]

I didn't realize how much everyone missed Daryl Jones..... everyone seems so mesmerized by his Twitter account again.

But since he's the current SOD, I wonder how many of you knew he and Keith McCollough had teamed up with Martin St. Louis and a couple others to form a small investment firm to support sports related startups?

https://www.seven7llc.com/

Its all good TL. Its some of ours way of saying goodbye. Like the time I showed up for my 20th reunion. Seeing the guy who tried so desperately to pal around the tribe and couldn't just get the hint

"Hey... remember that epic safari to New Smyrna?"

"Dude you weren't there"

"Yes I was man. It was so rad"

"Dude all you did was drive. You didn't even stay brah"

"I know. But it was so epic wasn't it?"

 

[_Del_]

nor do I see Barroway sticking around, this a flip-job, of that Im convinced.

First, I'd say it's better than even chance, definitely.

BUT I don't know where you get your certainty from. Nothing about any of this has been certain.

We know literally nothing about any single variable in the deal structure.
We don't know if or how much equity Barrow got as a result of failed cash calls.
We don't know the purchase price.
We don't know how much if any capital he threw in to get the other 46% (maybe less, see above) from IA.
We don't know how much of his original 54% was leveraged or how that has been or not been rolled.
We don't know how much is senior or junior debt.
We don't know what the schedule is.
We don't know what the rates are.

A leveraged buyout or restructuring incurring over 50% debt ratio isn't exactly uncommon nor is it the sole domain of corporate speculators. In fact, if I thought my partners were cratering our business, a leveraged buyout makes good sense.

Again, I still think it's more likely than not that they leave. I'm not convinced in anyway that he intends to sell, however, as opposed to starting anew with local partners in a new market, for example.

If he bought 30% and used an LOC to get to 54% originally, he's in okay shape (particularly if over the course of operations the IA pals accrued debt to him in the form of missed calls-- settled after the sale of course to further inflate the paper purchase price). He could put in a relatively small amount of additional capital and still be leveraged at or near only 50%. If you figure he ate 50 million in operational losses over the last two years, why not throw 50 million of capital toward the purchase and get from 30 to 50% equity in the franchise, and acquire a revolving line of credit to help with future operational losses and debt service (just a semi-random example of why an LBO including throwing more actual capital at the franchise might be part of a rational plan that doesn't include speculation or a "flip").
Hell, the franchise is probably due 30 million in appreciation just by removing the names LeBlanc and Drummond from the corporate structure. That's not even sarcasm.

 

[Llama19]

First, I'd say it's better than even chance, definitely.

BUT I don't know where you get your certainty from. Nothing about any of this has been certain.

We know literally nothing about any single variable in the deal structure.
We don't know if or how much equity Barrow got as a result of failed cash calls.
We don't know the purchase price.
We don't know how much if any capital he threw in to get the other 46% (maybe less, see above) from IA.
We don't know how much of his original 54% was leveraged or how that has been or not been rolled.
We don't know how much is senior or junior debt.
We don't know what the schedule is.
We don't know what the rates are.

A leveraged buyout or restructuring incurring over 50% debt ratio isn't exactly uncommon nor is it the sole domain of corporate speculators. In fact, if I thought my partners were cratering our business, a leveraged buyout makes good sense.

Again, I still think it's more likely than not that they leave. I'm not convinced in anyway that he intends to sell, however, as opposed to starting anew with local partners in a new market, for example.

If he bought 30% and used an LOC to get to 54% originally, he's in okay shape (particularly if over the course of operations the IA pals accrued debt to him in the form of missed calls-- settled after the sale of course to further inflate the paper purchase price). He could put in a relatively small amount of additional capital and still be leveraged at or near only 50%. If you figure he ate 50 million in operational losses over the last two years, why not throw 50 million of capital toward the purchase and get from 30 to 50% equity in the franchise, and acquire a revolving line of credit to help with future operational losses and debt service (just a semi-random example of why an LBO including throwing more actual capital at the franchise might be part of a rational plan that doesn't include speculation or a "flip").
Hell, the franchise is probably due 30 million in appreciation just by removing the names LeBlanc and Drummond from the corporate structure. That's not even sarcasm.

Nothing about these financial transactions shows that this franchise is viable here without someone else picking up their losses...by leveraging more debt...in the hopes that some deep-pocketed owner will finally buy this franchise...

I do not believe that Barroway is that owner...no...

 

[Killion]

He just stopped caring at some point and he's not alone. It took a decade, but the NHL got the bored indifference that they wanted out of the media. When abnormality last this long it become the new normal. Nobody digging, nobody look all that hard at the story. One of the side benefit of kicking the can down the road so many times.

Yes, very true, they of course knew that, were banking on it in 2013 with the front created by IA, financed it in part, got it off the front pages, hoped it would die & people would lose interest and of course many did. I knew Bob McCown back in the 80's, in the period after he'd gone off the air as a television broadcaster & personality, he moved to Vegas woring on the perepheries of the gambling industry for a couple of yrs, where he still I think has a 2nd home, then returned to Toronto & again took to the airwaves as a talk-radio host.... ascending rapidly, eventually commanding a salary that for a sports radio talk show host was/is truly astounding for the Canadian market. He had the attitude, swagger, opinionated when younger. Edgy. Going up the ladder used it like a weapon however once reaching the ceiling, comfortable, went soft. An old story, one most have seen as they get older. I bought his book a few years ago, The 100 Greatest Hockey Arguments. Cant say I was impressed with his logic, depth of knowledge. Fluffy. Blast through it in about 45 minutes. Great guy though. Originally from Ohio, played hockey as a kid, Goalie.

 

[Tom ServoMST3K]

There's probably 30-50 people in the world who actually care about this saga, and I would guess everyone who doesn't work for the NHL (Or are the hardest of hardcore yotes fans) are a part of this forum. When a subject doesn't turn the dial, it's no wonder the media lacks off.

I would offer a friendly suggestion, to Mr. Jones, not to poke the hornet's nest.

 

[Llama19]

For better or worse? Andrew Barroway's plans unclear after Arizona Coyotes ownership takeover

To quote:

"Barroway wasn’t available for comment, a team spokesman said.

At this point, it’s unclear what Barroway’s plans for the franchise are – off the ice and on it. And the spotlight on the hockey product is going to grow as the team embarks on one of the busier stretches of the offseason with the expansion-draft process beginning this week, the entry draft June 23-24 and the free-agent signing window opening July 1.

While they were wards of the league for four years, the Coyotes operated on a shoestring budget but they didn’t exactly go on a spending spree once they secured outside ownership.

Once Barroway joined the mix, he could have been the one setting the financial parameters since he was the majority owner. Or the decision could have been group-based with all owners giving their input.

With that in mind, it’s tough to say whether the direction of the organization the past few seasons has been a reflection of Barroway’s influence or the entire committee’s philosophy.

Asked whether this budget is higher or lower than what it was last summer, [General Manager John] Chayka wrote, “I don’t see any advantage to making our budget plans publicly available. Resources will not be an excuse for this group.”"

Source: http://www.azcentral.com/story/spor...yotes-andrew-barroway-nhl-ownership/391223001

 

[Killion]

Hell, the franchise is probably due 30 million in appreciation just by removing the names LeBlanc and Drummond from the corporate structure. That's not even sarcasm.

... indeed, and all excellent points.