Phoenix CXXXIV: 3 Sheets To The Wind

[CHRDANHUTCH]

So, it's your opinion that they are staying in Arizona, forever, no matter what?

And how do you mean your implication that Arizona is not a franchise in trouble?

they haven't since GRA WAS BUILT, MNN.... THEY'RE still there I'M NOT SO sure Houston really wants hockey, either.... based off Fertitta's comments thus far

 

[GuelphStormer]

The tinfoil hat in me says that Barroway has always been looking to get out, and the NHL guaranteed he would with no losses.

I don't believe it's true, but I don't think it's as far-fetched as I initially thought.

can't disagree. everything about ownership of this franchise since it went into BK has been a series of amateurs and charades. malfunctioning fax machines, that was fun. a carload of well intentioned but stupid clowns, always entertaining. these after shutting the door on a real guy in greg jamison (i still don't get that). then a bunch of creative accounting, a white knight ,and here we are. reportedly though, most of barroway's net worth is tied up in this one investment. he barely has enough scratch to pay one year of losses. he's likely the poorest owner in the league ... a stand-in, if you will. i dont thunk its tinfoil to think that barroway has never been in a position to afford to own this team. the asset is highly leveraged. massive league loans. other private high interest loans (who does that other than poor people?) an exception to the league's minimum attendance rules for revenue sharing, on life support really.

i think barroway simply volunteered/got seconded to graciously get the privilege of temporarily sitting in the pilot seat while it all just circles on auto-pilot waiting for either a gullible local council to cough up new arena money (not that an east side venue is actually a reasonable solution) or for someone in a land far away to get their act together.

he's had enough. he wants out and wants some of his money back.

 

[TheLegend]

The one and only reason that Barroway is putting a $500MM price tag on the Coyotes is because of Vegas. That's it. Someone elsewhere paid that for team A so by NHL logic, team B must be worth the same.

"Sources tell me that the $500 million valuation figure includes working capital to cover current losses as well as capital calls (money investors put into the team in subsequent years to cover operating losses). So if this deal gets announced as $500 million, be very skeptical. "

In what universe are the Coyotes worth $500 large? A universe in which they don't play in the state of Arizona. Oh... we are skeptical.

I'd say Carolina more than Vegas. Foley has part ownership of TMobile Arena. That adds (a LOT of) value. Carolina also has a damn good arena situation too but not to the extent Vegas has. Plus... remember how many eyebrows got raised over Dundon's purchase price of the Canes not too long ago.

 

[Glacial]

uh oh. someone's pockets are shallower than he thought.

Coyotes owners love the sartorial arts, specifically trompe l'oeil pockets.

 

[TheLegend]

can't disagree. everything about ownership of this franchise since it went into BK has been a series of amateurs and charades. malfunctioning fax machines, that was fun. a carload of well intentioned but stupid clowns, always entertaining. these after shutting the door on a real guy in greg jamison (i still don't get that). then a bunch of creative accounting, a white knight ,and here we are. reportedly though, most of barroway's net worth is tied up in this one investment. he barely has enough scratch to pay one year of losses. he's likely the poorest owner in the league ... a stand-in, if you will. i dont thunk its tinfoil to think that barroway has never been in a position to afford to own this team. the asset is highly leveraged. massive league loans. other private high interest loans (who does that other than poor people?) an exception to the league's minimum attendance rules for revenue sharing, on life support really.

i think barroway simply volunteered/got seconded to graciously get the privilege of temporarily sitting in the pilot seat while it all just circles on auto-pilot waiting for either a gullible local council to cough up new arena money (not that an east side venue is actually a reasonable solution) or for someone in a land far away to get their act together.

he's had enough. he wants out and wants some of his money back.

"He wants out" by allegedly selling a minority share....... okay.

 

[awfulwaffle]

This makes perfect sense to me. He bought out IceArizona because it was what, 11 different people involved? He also had 2 weeks Tony that wouldn't keep his mouth shut. This way, he's able to find funding, and perhaps a strategic partner in helping find an arena deal. He's still going to be the majority owner. Love how so many people are chalking this up as a sign of defeat.

 

[Llama19]

^^^ Two posts up...
Out of his highly leveraged debt...yeah...

 

[Bookie21]

^^^ Two posts up...
Out of his highly leveraged debt...yeah...

Isn't this a smart move for him then? Clean some debt out...... Seems like a no brainer to bring another investor on board. Can't hurt him to try

 

[Llama19]

Final total...536 votes...

 

[Fairview]

This over evaluation is likely one of the main reasons why Borrowaway has been looking for an investor for over a year and yet...no one crazy enough to jump on board. I can understand why AB needs that cash infusion amount, but how can that number be justified? 250 million in debt (according to the article) in that market. If anyone would be foolish enough to pay that off, plus cover future losses, I am sure that the team could be had for $1.

 

[Llama19]

Never change, Daryl (former IceArizona owner) Jones...never change...

 

[Fairview]

Never change, Daryl (former IceArizona owner) Jones...never change...

I am quite sure that Conor will be receiving a call from GB very soon. He seems like the type of person that would make an ideal NHL owner, for a team in Arizona

 

[TheLegend]

Isn't this a smart move for him then? Clean some debt out...... Seems like a no brainer to bring another investor on board. Can't hurt him to try

It is.... but you need to realize he's not concerned about that. For a few people around here it's how can something be turned into a "Whack-A-(insert Coyotes owner here)" discussion.

 

[CHRDANHUTCH]

It is.... but you need to realize he's not concerned about that. For a few people around here it's how can something be turned into a "Whack-A-(insert Coyotes owner here)" discussion.

or whack the franchise ITSELF, TL

 

[Detelethisaccount]

Isn't this a smart move for him then? Clean some debt out...... Seems like a no brainer to bring another investor on board. Can't hurt him to try

It is so long as he can afford to cover his half of the losses going forward, if not than he has opened the door for someone to buy him out at pennies on the dollar.

 

[XX]

This makes perfect sense to me. He bought out IceArizona because it was what, 11 different people involved? He also had 2 weeks Tony that wouldn't keep his mouth shut. This way, he's able to find funding, and perhaps a strategic partner in helping find an arena deal. He's still going to be the majority owner. Love how so many people are chalking this up as a sign of defeat.

The NHL helped him finance the deal that bought out IA because they were a liability and no local partner wanted to work with them. Barroway still doesn't have the money to bridge the gap to a new arena and no partner is going to sign on to lose as much money as the Coyotes are without getting complete control of the team.

 

[GuelphStormer]

It is.... but you need to realize he's not concerned about that. For a few people around here it's how can something be turned into a "Whack-A-(insert Coyotes owner here)" discussion.

huh? who is not concerned about what? is it barroway who is not concerned about seeing a majority of his personal wealth evaporate before his eyes? i'd think he is very concerned about that. or is it me, as the OP of reference, who is not concerned about actually discussing the finances of this franchise and interested only in drive-by whacking?

 

[Agalloch]

 

[The Feckless Puck]

Thank god someone had the decency to finally post Jimmy Murphy's opinion on this matter. We certainly could not have moved forward on this topic without it!

 

[Agalloch]

Thank god someone had the decency to finally post Jimmy Murphy's opinion on this matter. We certainly could not have moved forward on this topic without it!

No problem.

 

[CBJ goalie]

Some good info here - with the writer's opinion that this has become personal for Bettman

 

[cbcwpg]

Some good info here - with the writer's opinion that this has become personal for Bettman

"become personal"??

It's always been personal for Bettman.

 

[Stumbledore]

"He wants out" by allegedly selling a minority share....... okay.

Yeah, even a moose finds that statement more than illogical.

 

[TheLegend]

Some good info here - with the writer's opinion that this has become personal for Bettman

That was John Shannon’s opinion. And probably true to a great extent.

But you have to take in consideration how the original Jets ended up in Arizona to begin with and how the league has handled it since.

 

[TheLegend]

huh? who is not concerned about what? is it barroway who is not concerned about seeing a majority of his personal wealth evaporate before his eyes? i'd think he is very concerned about that. or is it me, as the OP of reference, who is not concerned about actually discussing the finances of this franchise and interested only in drive-by whacking?

The “he” wasn’t referring to Barroway.

I’ll let you figure the rest out.