Phoenix XC: Down to the Weiers

[CrazyMonkey1208]

Darren Dreger‏@DarrenDreger3m
Bettman and Daly will be in Glendale for the councils vote. Expect ample discussion prior to the vote, so it will be late before vote is in.

I don't see s Teterboro-Glendale flight on flightaware, anyone else have one?

 

[cbcwpg]

What am I missing here?

The stated fact by some that if the CoG doesn't agree to lose money and keep the team, that the result will be the implosion of the arena, Westgate, the CoG, the state of Arizona, and ultimately the known universe..... but that could just be a worst case scenario.

 

[Major4Boarding]

It would be useless to just remove the "including" parenthesis you quote above: the AMF would still clearly be an "arena-related expenditure", and there would still be ambiguity as to whether debt service is too.

If the city's out clause is still there at all.. the term "operating loss" should be defined to determine the scope of arena-related expenses (and for RSE's out clause, the scope of team expenses).

Duly noted. Perhaps then, less ambiguity in some finely tuned inserted verbiage excluding the debt service? I mean, I understand it now it's basically Out Clause In or Out Clause out... but the debt service is there regardless of the outcome.

 

[tony d]

Guess we should know something by the end of today. Whatever happens I hope this is the end of discussion as it relates to this franchise and they can enjoy either a new beginning in Phoenix or a rebirth in Seattle or Quebec City or wherever.

Some trivia before I hit submit, the franchise spent 17 years as a NHL teams in Winnipeg and from the looks of things it might be 17 years as a NHL team in Phoenix. Hopefully they'll last more than 17 yrs. wherever they go to next.

 

[frag2]

What time is the vote thing in Glendale?

 

[CasualFan]

Darren Dreger‏@DarrenDreger3m
Bettman and Daly will be in Glendale for the councils vote. Expect ample discussion prior to the vote, so it will be late before vote is in.

What's the probability that Gary and Bill would be in attendance without advanced notice from Glendale that terms the NHL approves are in place? About 0% sound right?

 

[madhi19]

Weasel One will leave KTEB at 02:40PM EDT and reach Glendale at 04:02PM MST.

 

[powerstuck]

What time is the vote thing in Glendale?

Supposed 7PM in Glendale, so roughly 9PM east coast.

 

[Whileee]

It seems to me that today is all about whether or not the COG will approve a lease based on the previous version, which does not include an "out clause" for the COG. So, we'll see how firmly various council members stand by the revised version with the out clause.

My guess is that Bowers and the city financial staff have urged the "out clause" as a way of trying to allay concerns of bond rating agencies. They have already been put on notice with respect to their structural deficit and their seeming willingness to exacerbate their financial woes with a large financial commitment to subsidize the Coyotes. By limiting their longer term liability with the "out clause", perhaps they are hoping that they don't get too badly hammered by the bond rating agencies.

The COG probably also needs to consider the "worst case scenario", which in this case isn't that unlikely. That would be that the RSE doesn't realize the revenue projections, ends up losing an average of $10 million per year (or more) over the next five years, and exercises its own "out clause". At that point, the COG has poured another $75 million into the enterprise, and is left without an "anchor tenant", and has to go through the process of finding a new arena manager five years hence. But a number of the council members will probably not think about that in the presence of Bettman (aka "Oz the Great and Powerful").

 

[maruk14]

Supposed 7PM in Glendale, so roughly 9PM east coast.

That is when the meeting starts - the vote will come later than that. What time is anyones guess.

 

[thiscalltoarms]

What's the probability that Gary and Bill would be in attendance without advanced notice from Glendale that terms the NHL approves are in place? About 0% sound right?

Depends. If I was Gary then I would be there to make a simple announcement like "we're relocating the Coyotes due to the City of Glendale's decision to vote in favor of a proposal today that was rejected on Friday as non-viable for RSE, Fortress, and the NHL. There will be a press conference tomorrow morning at 11am to announce the destination to which the Coyotes will continue to thrive and hopefully win a Stanley Cup."

That's the only reason that I'd be in that meeting at this point if I was Gary. It makes the point that WE ALL KNOW- that the City council approving a non-starter agreement is really only an attempt to win PR points while voting the Yotes out of AZ. I can't imagine Gary doesn't throw it back in their faces tonight.

 

[powerstuck]

Weasel One will leave KTEB at 02:40PM EDT and reach Glendale at 04:02PM MST.

Anyone have a registration number for the NHL plane...maybe there is already a scheduled flight from Glendale to Seattle ? Or back to Teterboro then up north to Quebec

 

[Gotaf7]

What's the probability that Gary and Bill would be in attendance without advanced notice from Glendale that terms the NHL approves are in place? About 0% sound right?

I agree, Gongdale caved! Now can the Clowns close the transaction?

 

[Royale With Cheese]

That is when the meeting starts - the vote will come later than that. What time is anyones guess.

Maybe 'lil Gary will stage a filibuster, talk for 156 hours straight and delay the vote until the CoG caves?

 

[madhi19]

Depends. If I was Gary then I would be there to make a simple announcement like "we're relocating the Coyotes due to the City of Glendale's decision to vote in favor of a proposal today that was rejected on Friday as non-viable for RSE, Fortress, and the NHL. There will be a press conference tomorrow morning at 11am to announce the destination to which the Coyotes will continue to thrive and hopefully win a Stanley Cup."

That's the only reason that I'd be in that meeting at this point if I was Gary.

Would he even bother showing up and giving the media some fodder. Instead of making a press release that would get buried in pre-4th of July laziness. Really not a bad week to relocate an NHL team nobody but the respective fan bases will notice.

 

[LPHabsFan]

What's the probability that Gary and Bill would be in attendance without advanced notice from Glendale that terms the NHL approves are in place? About 0% sound right?

Actually I see it as the opposite. If they knew they were going to approve the changes then they would just sit back, relax, and watch it online like the rest of. But to me, the fact that they are going means they still need to do a lot of convincing and that is easier to do in person rather than over the phone. Plus, what would be the benefit of being there knowing there is a yes vote?

 

[JimAnchower]

I agree, Gongdale caved! Now can the Clowns close the transaction?

If the COG approves a deal that RSE likes, there could still be things that prevent the deal from being complete.

- RSE has to raise the money. If Gosbee has indeed backed out, then that could severly impact their chances of closing the deal.

- GWI or someone else could sue

- A signature drive is done to put this measure on a ballot

 

[PeaSouper]

Anyone have a registration number for the NHL plane...maybe there is already a scheduled flight from Glendale to Seattle ? Or back to Teterboro then up north to Quebec

The NHL doesn't own a plane, but rather they hire private aircraft as they need them. So, you can't just track an N-number.

This doesn't show any flight plans filed at all departing out of Glendale, as of right now:

http://flightaware.com/live/airport/KGEU

 

[madhi19]

Maybe 'lil Gary will stage a filibuster, talk for 156 hours straight and delay the vote until the CoG caves?

You don't rent a plane to go somewhere and rent another plane just to go back or somewhere else. Especially if it a small stop the plane you rented will stay on the tarmac or the nearest hangars. This is the plane Gary will fly back to New York but where that plane goes next that the question. Sadly he will be awfully closer to the West coast by tonight.
We see it on that page when they file the next flight plan.

 

[cbcwpg]

What's the probability that Gary and Bill would be in attendance without advanced notice from Glendale that terms the NHL approves are in place? About 0% sound right?

During the final death throes with the Winnipeg Jets 1.0, Gary and friend made physical appearances in Winnipeg. They did not come to welcome in a new deal, or broker a new deal... they came to show the seriousness of the relocation threat. They are putting a face to the message to show the CoG that they are serious this time.

So I would say it's 50-50 right now.

 

[gyom999]

So what are they voting for today!? The more I read the blurier it gets..!




They posted document for the public and then they can change anything they want (I read they had 24h prior to vote to make changes), vote for the old proposal, for their counter-proposal, for modified proposal.. wtf.

 

[Mightygoose]

If the COG approves a deal that RSE likes, there could still be things that prevent the deal from being complete.

- RSE has to raise the money. If Gosbee has indeed backed out, then that could severly impact their chances of closing the deal.

- GWI or someone else could sue

- A signature drive is done to put this measure on a ballot

Plus if the close by August 5 is still intact, that's even less time than Jamison had

http://www.glendaleaz.com/documents...ProposalforArenaManagementAgreement062813.pdf

 The city requests that an agreement with Renaissance Sports & Entertainment Group (RSE) be signed by RSE by July 8, 2013 and close by August 5, 2013. The prior agreement did not specify dates.

 

[McManked]

So will a decision on the future in Phoenix 100% be made by the end of today, or is there a chance for a delay once again.

 

[maruk14]

Actually I see it as the opposite. If they knew they were going to approve the changes then they would just sit back, relax, and watch it online like the rest of. But to me, the fact that they are going means they still need to do a lot of convincing and that is easier to do in person rather than over the phone. Plus, what would be the benefit of being there knowing there is a yes vote?

True - and the tweet said "expect ample discussion before the vote". This is Bettman and Daly putting one last, very serious push in getting a deal done to keep the team in Glendale and they have cover either way:

Phoenix Stays - We flew in and saved the day
Phoenix Relocates - We flew in and did everything we possibly could but Glendale wouldn't cooperate.

So I would say it's 50-50 right now.

This - its a coin toss and anyone can rationalize a point of view based on the little tidbit of news that is put out there.

 

[barneyg]

Duly noted. Perhaps then, less ambiguity in some finely tuned inserted verbiage excluding the debt service? I mean, I understand it now it's basically Out Clause In or Out Clause out... but the debt service is there regardless of the outcome.

Bowers and DiPiazza have looked competent so far; if the clause is changed to exclude debt service, RSE's clause would also have to be changed to define "team operating losses" more precisely. So either 2 changes, or none. That's assuming the city's out clause stays there at all.