Phoenix Part XXXI: I feel I'm in a time loop

[LadyStanley]

Previous thread: http://hfboards.com/showthread.php?t=894187

Click to read more...

 

[crazed323]

Being from Winnipeg I sometimes lose objectivity but being totally objective. I think the powers that be (NHL, COG and MH) have already made a decision as to what they are going to be doing. Wether it is selling the bonds anyway or pulling the plug. I believe it's the latter, do to the lack of chirping going on about anything of substance. If they were going to sell bonds we should have heard about it last week, if not this weekend. I give them till wensday if they haven't sold them...

 

[kdb209]

“Listen, lad. I built this thread up from nothing. When I started here, all there was was swamp. Other kings said I was daft to build a thread on a swamp, but I built it all the same, just to show 'em. It sank into the swamp. So, I built a IInd one. That sank into the swamp. So I built a IIIrd one. That burned down, fell over, then sank into the swamp. But the IVth one...

So I built an XXXth thread. That one is pining for the fjords. No. 'E's not pinin'! 'E's passed on! That thread is no more! He has ceased to be! 'E's expired and gone to meet 'is maker! 'E's a stiff! Bereft of life, 'e rests in peace! If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies! 'Is metabolic processes are now 'istory! 'E's off the twig! 'E's kicked the bucket, 'e's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisibile!! THAT IS AN EX-THREAD!!

But the XXXIst one stayed up! And that's what you're gonna get, lad: the strongest thread in these boards.â€

12-08-2008 Hockey in The Desert (Phoenix franchise and finance/business matters)
02-04-2009 Hockey in the Desert II (Phoenix Coyotes franchise and business matters)

05-05-2009 Balsillie puts in $212.5 mil offer for the Coyotes
05-07-2009 Balsillie/Phoenix part II
05-18-2009 Balsillie/Phoenix part III
05-22-2009 Balsillie/Phoenix part IV
06-03-2009 Balsillie/Phoenix part V
06-09-2009 Balsillie/Phoenix Part VI
06-12-2009 Balsillie/Phoenix Part VII: I'm just waitin' on a judge
06-16-2009 Balsillie/Phoenix Part VIII: It's dead, Jim
06-24-2009 Balsillie/Phoenix Part IX: 'Dorf on Hockey
07-25-2009 Phoenix bankruptcy/ownership Part X: The Truth? You Can't Handle The Truth!
08-03-2009 Phoenix bankruptcy/ownership Part XI: A Fistful of Dollars?
08-07-2009 Phoenix bankruptcy/ownership Part XII: For a Few Dollars More
08-12-2009 Phoenix bankruptcy/ownership Part XIII: The Good, The Bad, and The Ugly
08-21-2009 Phoenix bankruptcy/ownership Part XIV: The Wrath of Baum
08-27-2009 Phoenix bankruptcy/ownership Part XV - SITREP: SNAFU
09-02-2009 Phoenix bankruptcy/ownership Part XVI: Barbarian at the Gate
09-08-2009 Phoenix bankruptcy/ownership Part XVII: Wake Me Up When September Ends
09-10-2009 Phoenix bankruptcy/ownership Part XVIII: Is that a pale horse in the distance?
09-12-2009 Phoenix bankruptcy Part XIX: How I Learned to Stop Worrying and Love the Baum
09-21-2009 Phoenix Bankruptcy Part XX: There Will Be Baum
09-28-2009 Phoenix Bankruptcy Part XXI: 2009 -- A Sports Odyssey
10-26-2009 Phoenix Bankruptcy Part XXII: Long and winding road

11-24-2009 Keeping up with potential owners for NHL Phoenix Coyotes (UPD: Ice Edge signs LOI)
03-14-2010 Part II. Potential owners of NHL's Phoenix Coyotes
03-26-2010 Part III. Prospective Owners - Phoenix Coyotes (UPD Lease vote 4/13; IEH signs MOU)
04-10-2010 Part IV Phoenix Coyotes post bankrtuptcy; UPD COG approves Reinsdorf MOU, not IEH MOU
05-02-2010 Part V Phoenix Coyotes post bankruptcy UPD Reinsdorf out? IEH back in? else Winnipeg?
05-11-2010 Part VI Phoenix Coyotes post bankruptcy
05-23-2010 Part VII Phoenix Coyotes post bankrtuptcy
06-07-2010 Part VIII: Phoenix Coyotes Post-bankrtuptcy
06-22-2010 Part IX: Phoenix Coyotes Post-bankruptcy UPD: Pres Moss fired 6/30 with IEH input
07-26-2010 Part X: Phoenix Coyotes - Between Scylla and Charybdis
08-27-2010 Part XI: Phoenix Coyotes -- Greetings, Starfighter, You have been selected ...
09-16-2010 Part XII: Phx Coyotes - Still haven't found what I'm looking for
10-12-2010 Part XIII: Phoenix Coyotes - The Final Cut?
10-27-2010 Part XIV: Phoenix Coyotes - To Infinity And Beyond....
12-05-2010 Part XV: Phoenix - the battle of evermore
12-14-2010 Part XVI: Phoenix -- Money for Nothing
12-20-2010 Part XVII: Phoenix -- Thread Title Available For Lease
01-09-2011 Part XVIII: Phoenix -- Imminence Front
01-24-2011 Phoenix XIXth: Nervous Breakdown
02-02-2011 Phoenix XX: Two weeks
02-11-2011 Phoenix XXI: When will then be now?
02-22-2011 Phoenix XXII: It's Now or Never
02-28-2011 Phoenix XXIII - Bond: The Phoenix Project
03-03-2011 Phoenix XXIV: How many twists does the scriptwriter have left?
03-07-2011 Phoenix XXV: Anyone in the theatre seen a pale horse?
03-08-2011 Phoenix XXVI: Pain in the AZ
03-11-2011 Phoenix XXVII: Can we all get along?
03-16-2011 Phoenix XXVIII: Lawyers, Bonds and Money
03-20-2011 Phoenix XXIX: What's the next act? I'm tired of the dog & pony show
03-22-2011 Phoenix Part XXX Hulz, you gotta get a gimmick if you want to get ahead
03-27-2011 Phoenix Part XXXI: I feel I'm in a time loop

 

[Chief Ten Bears*]

Being from Winnipeg I sometimes lose objectivity but being totally objective. I think the powers that be (NHL, COG and MH) have already made a decision as to what they are going to be doing. Wether it is selling the bonds anyway or pulling the plug. I believe it's the latter, do to the lack of chirping going on about anything of substance. If they were going to sell bonds we should have heard about it last week, if not this weekend. I give them till wensday if they haven't sold them...

Or, if they are going to bite the bullet and somehow keep the team for one more year, work out the money details later, in the interest of the league... Atlanta is on a 5 game road trip, have 2 final home games next week. This week would be a perfect time to make an announcement, if the Coyotes are in fact staying, however that may be.

 

[GKJ]

To the person who mentioned Gretzky finding investors and buying the team back...he's still owed money.

 

[crazed323]

This has probably been talked about, and it's pretty obvious that MH's guarantee of 75 million is meaningless. However I'll throw this out and there, maybe someone could explain it and see if I'm on to something.

MH's guarantee is that the arena profits 75 million over 30 years? Is this correct? Or is it simply that it brings in 75 million? Without taking into consideration expenses?

MH is receiving 97 million over 5 years from COG to manage the arena. How could he only guarantee 75 million over 30 years when he gets 97 million over 5 years for managing it?
How is that?

 

[Pinchy]

To the person who mentioned Gretzky finding investors and buying the team back...he's still owed money.

Maybe Glendale will agree to give him a subsidy of $108 million.

 

[crazed323]

Or, if they are going to bite the bullet and somehow keep the team for one more year, work out the money details later, in the interest of the league... Atlanta is on a 5 game road trip, have 2 final home games next week. This week would be a perfect time to make an announcement, if the Coyotes are in fact staying, however that may be.

Without getting off topic IMO the NHL has one thing on their front burner and that is the Phoenix Coyotes. However the Coyotes deal plays out determines what happens in other markets.

 

[Fugu]

“Listen, lad. I built this thread up from nothing. When I started here, all there was was swamp. Other kings said I was daft to build a thread on a swamp, but I built it all the same, just to show 'em. It sank into the swamp. So, I built a IInd one. That sank into the swamp. So I built a IIIrd one. That burned down, fell over, then sank into the swamp. But the IVth one...

So I built an XXXth thread. That one is pining for the fjords. No. 'E's not pinin'! 'E's passed on! That thread is no more! He has ceased to be! 'E's expired and gone to meet 'is maker! 'E's a stiff! Bereft of life, 'e rests in peace! If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies! 'Is metabolic processes are now 'istory! 'E's off the twig! 'E's kicked the bucket, 'e's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisibile!! THAT IS AN EX-THREAD!!

But the XXXIst one stayed up! And that's what you're gonna get, lad: the strongest thread in these boards.â€
<snip>

There's one great outcome from having all these threads. We get to see your creative side.

 

[Vanier Park]

Isn't it XXXII

 

[htpwn]

“Listen, lad. I built this thread up from nothing. When I started here, all there was was swamp. Other kings said I was daft to build a thread on a swamp, but I built it all the same, just to show 'em. It sank into the swamp. So, I built a IInd one. That sank into the swamp. So I built a IIIrd one. That burned down, fell over, then sank into the swamp. But the IVth one...

So I built an XXXth thread. That one is pining for the fjords. No. 'E's not pinin'! 'E's passed on! That thread is no more! He has ceased to be! 'E's expired and gone to meet 'is maker! 'E's a stiff! Bereft of life, 'e rests in peace! If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies! 'Is metabolic processes are now 'istory! 'E's off the twig! 'E's kicked the bucket, 'e's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisibile!! THAT IS AN EX-THREAD!!

But the XXXIst one stayed up! And that's what you're gonna get, lad: the strongest thread in these boards.”

First thing that came to mind when I read that sentence was Peter the Great. You know you have written one too many history essays in the past week when...

 

[Killion]

Listen, lad.....

Channeling Daniel Plainview from There Will Be Blood kdb?. How very pleasant.

 

[Brodie]

will april bring any news?

guessing not

 

[Evil Doctor]

Isn't it XXXII

You're thinking of the thread that will arrive on April 1st....

...which come to think about it, would be very appropriate!

Phoenix XXXII: Slidex!

 

[danishh]

will april bring any news?

guessing not

coyotes last home game is april 8th, last regular season game is april 9th.

my guess is that SOMEONE has to say SOMETHING at that time.

 

[y2kcanucks]

coyotes last home game is april 8th, last regular season game is april 9th.

my guess is that SOMEONE has to say SOMETHING at that time.

Agreed. Plus the Coyotes organization has never made it out of the first round. If that trend continues, then they'll be out by the end of April and I would think that something would be announced at that point.

If there's no announcement made, then obviously relocation isn't going to happen for next season, and I would anticipate that the NHL will be granting the CoG and MH more time to get the deal done.

 

[Vayls]

Agreed. Plus the Coyotes organization has never made it out of the first round. If that trend continues, then they'll be out by the end of April and I would think that something would be announced at that point.

If there's no announcement made, then obviously relocation isn't going to happen for next season, and I would anticipate that the NHL will be granting the CoG and MH more time to get the deal done.

I don't see the other owners agreeing to losing more money next season, they will want a solution.

Of course, I thought we were close to the end 2 months ago. I FEEL LIKE IM TAKING CRAZY PILLS!!

 

[FlareKnight]

Just have to keep hoping that the situation will be resolved somehow. Seems like we've been stuck at a giant standoff forever. GWI isn't going to back away and it doesn't seem like MH is going to just going to forget the whole $100 million thing and just pay more money for the team. Hopefully something will give before too many people go mad.

 

[Whileee]

In the previous thread, Dado made the following somewhat stunning statement:

I am highly confident there are buyers out there at under 9% even with the GWI situation unresolved.

Highly confident.

Which, frankly, raises more questions than it answers.

If true, then this certainly does raise some interesting questions. Perhaps this is a three-way stalemate between Hulsizer, Glendale and the NHL, with GWI having them penned in. Perhaps Glendale is waiting to see if Hulsizer or the NHL blink and improve the terms so that they can get rid of the GWI and lower the bond rates and their costs. Perhaps Hulsizer and the NHL are holding firm, and expecting that perhaps Glendale will issue the bonds even if the rate is uncomfortably high. In the meantime, all three parties are hoping that the GWI will let them out of limbo without anyone changing the terms of the deal.

One thing to consider is that Glendale is facing really tough economic times, and even with a lower rate on the bonds, they are really up against it with the arena management fee obligations. The last city council vote was only 4:3 in favour, and perhaps there is at least one councilor who feels that anything above 6% or 7% on the bonds is too high.

We should know within a month or two, I guess. Who's writing the book on this, again?

 

[gifted88]

So if this deal falls through is relocation the only option left? Or will the NHL still pursue owners who will keep the team in Glendale?

 

[tradeyoumooseforjets]

The last city council vote was only 4:3 in favour, and perhaps there is at least one councilor who feels that anything above 6% or 7% on the bonds is too high.
QUOTE]

They have already approved up to 9% so there will be no need to go back to council. If they want to close at 9% they have already been approved.

 

[Kebekoi]

I hope there won't be XXXI more thread before this situation resolves.

 

[BrianSTC]

Scottsdale mayor thankful that Glendale won bidding war for Coyotes a decade ago. His take on the situation:

http://www.azcentral.com/arizonarep.../2011/03/27/20110327lane28-coyotes-buyer.html

 

[Whileee]

The last city council vote was only 4:3 in favour, and perhaps there is at least one councilor who feels that anything above 6% or 7% on the bonds is too high.
QUOTE]

They have already approved up to 9% so there will be no need to go back to council. If they want to close at 9% they have already been approved.

This has been repeated quite often, but I have never seen this "approval up to 9%" on the public record. The original motion (December 14, 2010) did not specify a limit, and there was no mention of this in the minutes from the subsequent meeting approving the amendment to the lease. Could you or someone else please cite a source to validate this assertion that there is already an approval from city council up to 9% on the bonds?

 

[Jesus Christ Horburn]

From the article:

The reality of this risk is not fair to a community that already has put so much of its credit on the line for this single private franchise. Glendale taxpayers originally shelled out $180 million for the facility. The potential buyer, Matthew Hulsizer, has a great opportunity to rescue the Coyotes and respect the existing taxpayers' investment commitment.

...

The Arizona Republic has estimated that Glendale will still be on the hook for up to $362 million with interest. This includes the hundreds of millions of dollars that the taxpayers have already invested to build the stadium and its surrounding infrastructure. This is not something that the taxpayers in any city can afford in the current economic environment.