Phoenix LXXXII: "Waive Reading Beyond the Title"

[Final Baton]

Can't it be both? Attempting to coerce the GCC into dissolving the RFP process in favor of a sole-source contract might be their primary goal, but knowing now how unlikely that is, today's statement might just be a set-up to Bettman's "well, we tried" speech post Final.

I am thinking it is, indeed, both.

 

[Major4Boarding]

Shoaltsie now chiming in

Council has already passed a tentative budget for the 2013-14 fiscal year that sets aside $6-million (all currency U.S.) for an arena management fee plus $500,000 for arena improvements. But do not be surprised if Gosbee and LeBlanc somehow wind up with $10-million or more in subsidies, oh, sorry, management fees, at least in the short-term, on their arena lease.

Aside from Bettman, none of the principals were responding to requests for comment Wednesday. But your agent did manage to confirm the terms of the sale between NHL and Renaissance.

In broad terms, the sale price is $170-million. The NHL will also provide Renaissance with a loan of $85-million, with interest-only payments in the first five years. Renaissance will provide $45-million and Fortress Investment Group LLC will loan Renaissance $120-million, at the usual high interest to risky ventures and the right to convert debt to equity in the franchise. If the name sounds familiar, that’s because Fortress has been a large Coyotes creditor in the past.

Guess the League's portion isn't coming from RS/IGF monies, if this is true

http://www.theglobeandmail.com/spor...future-in-phoenix-questioned/article12505724/

 

[Nordskull]

LXXXII: Go to jail, do not pass go, do not collect 15,000,000.00$ a year

 

[cbcwpg]

Exactly. I think the die is cast. Glendale just can't afford an AMF beyond $6 million without serious financial harm. The NHL has not been able to find an ownership group willing to purchase the team and keep them in Glendale without a much higher level of subsidy.

It's astonishingly inept that the NHL let Jamison fritter away a $300 million subsidy that was in hand, without bringing in a fresh ownership group to take advantage. If RSE was an option, the NHL should have told Jamison to paint or get off the ladder. Ironically, Jamison's failure to pull the trigger might have torpedoed the last best opportunity to get a subsidy enticing enough to facilitate a local sale.

That's the part that is mind blowing. The CoG was ready to give the farm and everything else away with the lease agreement with Jamison, and the deal didn't go through because he couldn't buy the team from the NHL. If the NHL really wanted the team to stay in Glendale all they had to do was lower the price, and Jamison would most likely be the owner right now. And the CoG would be stuck with a lease they had no chance of affording, but that's their problem, not the NHLs.

So with Jamison, its the NHLs fault the team may not stay in Glendale. And with RSE, it will be the CoGs fault.

 

[Wingsfan2965*]

You make no sense at all.

How many different teams has he tried to buy now, claiming he's a fan of the team, through and through.

Shoot, he was trying to buy St. Louis a year after he was in Jobing.com sporting Coyotes gear, trying to buy a team without using any of his own money.

He's full of ****.

 

[Wingsfan2965*]

Phoenix LXXXIII: "Which Seat Can I Take?"

It's Friday!

 

[Habidelidoo]

Phoenix LXXXIII: The phone rings, darling

 

[Tommy Hawk]

I guess the next thread name should either be about Killion or planes.. maybe both!

Casual, Killion, and automobiles....

Putting the pressure on Glendale, I think Glendale will fold their hand and give the NHL what they want.

No way. CoG knows their fiduciary responsibility and the financial ramifications which can put them in a different position should they decide to pass something they know will have adverse financial ramifications for the city.

Gary Bettman is a business man, he has 30 bosses that he needs to keep happy, hell I can't even keep 1 happy.

29 bosses. Yotes do not have an owner......

Exactly. I think the die is cast. Glendale just can't afford an AMF beyond $6 million without serious financial harm. The NHL has not been able to find an ownership group willing to purchase the team and keep them in Glendale without a much higher level of subsidy.

It's astonishingly inept that the NHL let Jamison fritter away a $300 million subsidy that was in hand, without bringing in a fresh ownership group to take advantage. If RSE was an option, the NHL should have told Jamison to paint or get off the ladder. Ironically, Jamison's failure to pull the trigger might have torpedoed the last best opportunity to get a subsidy enticing enough to facilitate a local sale.

Has RSE even been approved yet? I do not think the NHL let GJ fritter away, the realities of the finances did that....

The writing appears to be on the wall and that writing is Get out of Glendale cause you look just like a commissioner And you might just be a member

 

[cbcwpg]

Shoaltsie now chiming in



Guess the League's portion isn't coming from RS/IGF monies, if this is true

http://www.theglobeandmail.com/spor...future-in-phoenix-questioned/article12505724/

If the name sounds familiar, that’s because Fortress has been a large Coyotes creditor in the past.

Question. If Fortress was a large Coyotes creditor in the past, is it possible that they are getting involved again because they weren't made whole during the bankruptcy and they are still owed money? And this is the only way they might get it back? Could be totally wrong, but just wondering.

 

[Brodie]

Phoenix LXXXIII: Winter is Coming

 

[danishh]

Casual, Killion, and automobiles....




No way. CoG knows their fiduciary responsibility and the financial ramifications which can put them in a different position should they decide to pass something they know will have adverse financial ramifications for the city.




29 bosses. Yotes do not have an owner......




Has RSE even been approved yet? I do not think the NHL let GJ fritter away, the realities of the finances did that....

The writing appears to be on the wall and that writing is Get out of Glendale cause you look just like a commissioner And you might just be a member

i think technically he still has 30 bosses, it's just that one of them is daly, who's boss is bettman.

 

[nelina]

Phoenix LXXXIII: crash or forced landing ?

 

[Mightygoose]

OK, with CoG meeting this Friday to approve the budget and let's assume the AMF stays at 6M and it passes. Is it finally lights out and the league gets the 'no' they're looking for?

Hopefully, it won't have to wait until the June 25 meeting to make any announcement and this saga can finally be put away.

 

[Wingsfan2965*]

OK, with CoG meeting this Friday to approve the budget and let's assume the AMF stays at 6M and it passes. Is it finally lights out and the league gets the 'no' they're looking for?

Hopefully, it won't have to wait until the June 25 meeting to make any announcement and this saga can finally be put away.

With Daly's "We'll know more by Friday" comment, I think that it'd be lights out.

 

[Donwood]

Key Arena dates, that were being held for an NBA team, have been freed up. Not being held for any other reason
-Deborah Daoust spokesperson for Key Arena

 

[madhi19]

Phoenix not rising LXXXIII: Take...These Broken Wings




Baby, don't understand Why we can't just hold on to each other's hands? This time might be the last if fear unless I make it all too clear I need you so, ohh



Take these broken wings And learn to fly again, learn to live so free When we hear the voices sing The book of love will open up and let us in Take these broken wings



Baby, I think tonight We can take what was wrong and make it right Baby, it's all I know that you're half of the flesh And blood that makes me whole, I need you so.



So take these broken wings And learn to fly again, learn to live so free When we hear the voices sing The book of love will open up and let us in


Yeah, yeah



Let us in

Let us in



Baby, it's all I know that you're half of the flesh And blood that makes me whole Yeah, yeah, yeah, yeah, yeah



So take these broken wings And learn to fly again, learn to live so free And when we hear the voices sing The book of love will open up and let us in



Take these broken wings You got to learn to fly, learn to live and love so free When we hear the voices sing The book of love will open up for us and let us in Yeah, yeah, yeah, yeah, ooh

 

[Major4Boarding]

If the name sounds familiar, that’s because Fortress has been a large Coyotes creditor in the past.

Question. If Fortress was a large Coyotes creditor in the past, is it possible that they are getting involved again because they weren't made whole during the bankruptcy and they are still owed money? And this is the only way they might get it back? Could be totally wrong, but just wondering.

This is the first I'm hearing of Fortress' previous dealings with PHX. I am venturing a guess that Shoalts has them confused with SOF Investments.

 

[Antaya]

Phoenix LXXXIII: Stuff's Gonna Happen

 

[Donwood]

Hmm, Bettman & Daly have a early getaway, Departure in about an hour, I guess right after 2nd intermission interviews. Beating the traffic

 

[Phil Parent]

Bettman will be in the RDS booth during 2nd intermission of the game tonight. I'll post if he says anything new or interesting.

 

[Mightygoose]

Funny thing all of these reports of 'Seattle is ready' , 'CoG and RSE are only 5 million apart' and 'Hulsizer is interested still' have all resurfaced hours after Bettman and Daly's sabre-rattling. Though not a peep on any of these fronts before today.

The league has their media pipers in full force.

 

[Major4Boarding]

Hmm, Bettman & Daly have a early getaway, Departure in about an hour, I guess right after 2nd intermission interviews. Beating the traffic

Yeah, thinking they're more likely to be ground-stopped due to another round of bad weather than traffic if they're not out of there in the next hour

 

[Hawker14]

This is the first I'm hearing of Fortress' previous dealings with PHX. I am venturing a guess that Shoalts has them confused with SOF Investments.

"It was Fortress Investments which pulled its funding for the Phoenix Coyotes – which were forced to have their debt refinanced by the Michael Dell-controlled hedge fund SOF Investments."

http://www.thesportmarket.biz/archives/podiumnews_100122_3.htm

 

[rt]

The NHL did not ask for or receive an loss protection form Glendale so know 5 million owing is correct.

Phoenix LXXXIII: Stuff's Gonna Happen

This. This. A thousand times this!!!!!!!!!!!!!!!!

Do not ignore. This is the title.

 

[Llama19]

Casual, Killion, and automobiles....

The writing appears to be on the wall and that writing is Get out of Glendale cause you look just like a commissioner And you might just be a member

Phoenix LXXXIII: Starring CasualFan and Killion in: Do as I say, and you live.

* Quote from Neville Flynn in Snakes on a Plane