ranold26
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- May 28, 2003
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It’s also unclear if Barroway will remain with the club in some capacity, either in a majority or minority role, though one league executive believes at best he’ll stay on as a minority owner.
From that article: "As part of the expected sale of the Coyotes, the plan would be to keep the franchise in the Phoenix area, though it’s not believe(d) to be contingent on a new arena deal."
So...again, to repeat, Coyotes being sold != Coyotes relocating. Although it's sure to be claimed as such by some present. The apartment complex lease analogy still applies ("you wanna live another year here? sure!")
At some point, the NHL will be forced to reconsider that stance. A team that hemorrhages money isn't going to be good for the NHL or its owners. If you can't find a suitable arena and responsible ownership willing and able to keep it in Arizona and turn it into a profitable franchise, then you might as well cut your losses and move on.An important caveat to consider that wasn't in play previously was that the NHL now has an extremely vested interest in advocating an acceptable minimum sales price considering that we're in a new expansion era. If Vegas just paid half a billion a few years ago and Seattle is going to be paying even more than that soon, there's almost assuredly no chance that the NHL would allow a sale unless the amount in question was in that ballpark, which would assuredly limit buying options in Arizona. All depends on minority/majority amount for sale, but 49-51% of $500-650 million is still a lot.
First, I'm not sure this is really NEW news. We've known that Barroway was looking for investors for awhile. I'm not sure who Pagnotta is, but he linked his own website, so there isn't much verification here, really. Just one guy writing, "According to NHL sources...." Well, who are those.....
Continuing, he doesn't know if Barroway stays in the organization. He doesn't know if the sale is contingent on a new arena. So, it's a fairly poorly developed rumor....
Continuing....
As was mentioned, there are really only 2 out of town possibilities: Someone in Quebec, and Fertitta. Let's consider the possibilities of both of those:
First: Quebec. First thing to consider is that the league would only do that as a VERY LAST resort. Second thing to consider is that in the event such a thing were happening, it would be the tightest held secret in North America. So, this is NOT the case here.
Second: Fertitta. Again, highly unlikely that news breaks in this way.
My conclusion therefore: This is NOT a relocation buyer.
Continuing further:
I suspect that what is happening in Barroway has run out of money. There has been lots of information here about how much losses are in the Valley. I think that the Vegas expansion helped a little, but we all know Barroway isn't filthy rich. So, it may well be a sale from a poor negotiating position.
I also suspect that the individual, whoever it is, is from Bettman's rolodex, and is from out-of-town. That describes the hedge about the arena, and so on.
Not sure there is much else to say until we know identities of people, or get verification from another source.
Thanks MNN.....
Nice to see someone take an overall analytical view of this.
We’ve pretty much have known something was going on in the background. I’m thinking that whatever transaction there is in the works it’s now at the point where it can no longer be completely kept quiet.
Pagnotta also mentioned further in the article about an entity looking to acquire Ottawa. So this might be a group who’s been visiting Honest Uncle Gary’s Franchise Emporium and kicking all the tires.
Well if this happens, this could finally lead to some real stability. Barroway simply doesn't have the financial means to run this on his own it seems.
Interesting that it's not contingent on a new arena so one would think that a 7 year no move or a lease extension is in order.
So with some news coming out today, is it time re-open the megathread and insert this?
Megathreads don't always have to be about negative items
I'm curious to see how quickly the news gets posted on the NHL partner sites (Sportsnet, to a lesser extent TSN) and make the rounds.
Should not expected to be boring times between now and when the BoG meets early next month.
So we still have no real news over the news we've had over the past few months. We know that Barroway has been looking for investors, and this only proves it.It’s also unclear if Barroway will remain with the club in some capacity, either in a majority or minority role, though one league executive believes at best he’ll stay on as a minority owner.
One liners about moving the team are the reason for NOT re-opening the mega thread.
Solid discussion would be nice, please.
FOR EVERYONE'S SAKE:
PLEASE READ!!!!!!!
Since BK:
League ownership lasted 4 years, in 2 of which the city paid them 25M/yr for losses
IA (LeBlanc, et al) lasted 3 years, in which the city paid them, net, probably a total of 20M in Arena Management
Barroway has been there 3 years.
There probably is about 300M+ of accumulated losses.
Barroway, the current owner, was NEVER going to be a long term owner. He doesn't have deep enough pockets to survive.
For those who say, 'MOVE THEM ALREADY!!!!', there is no place to move them. Fertitta in Houston doesn't want to pay the price, and Quebec, if still possible in theory, is on the wrong end of the continent.
The question is: Would a new arena solve the problems? It's a hard question. But it is the only hope....
That Barroway is selling is NOT an indictment of the current situation. It's simply an acknowledgement that he is out of cash.
Where is this new arena coming from?I just can't understand why anyone would want to buy the team now, without a new arena on board, and more so if the NHL is insisting on the team staying in Arizona. The NHL itself has said this franchise is not viable in Glendale... if nothing has changed on that stance, and you have no option of a new home , why buy it?
I just can't understand why anyone would want to buy the team now, without a new arena on board, and more so if the NHL is insisting on the team staying in Arizona. The NHL itself has said this franchise is not viable in Glendale... if nothing has changed on that stance, and you have no option of a new home , why buy it?
Nobody is going to invest in this dumpster fire and keep the team in Arizona. Please stop saying the team cannot be moved. Houston and Quebec City are both solid options when the NHL doesn't have a choice to move the Coyotes.