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Phoenix XLVII: More Threads than Superbowls

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cbcwpg

cbcwpg

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May 18, 2010
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Between the Pipes
This was posted on the G+M today in regards to the Blues.

http://www.theglobeandmail.com/spor...-louis-blues-nears-completion/article2419343/

The only reason I mention it in this thread is the article says the sale price for ~$130M gets you: the Blues, their American Hockey League team, the lease to the Scotttrade Center and a share of the Peabody Opera House. Now on the negative side you get: the Blues’ sizeable debt and make sure the NHL is reimbursed for all of its expenses.

Now it seems in the case of the Coyotes it will cost you $170M and you get the team without debt, but the NHL's reimbursment is included in the price. Now does this include the Coyotes' farm team as well?

JMO, but even with debt, I would think the Blues might be a better buy for $130M than the Coyotes for $170M.
 
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Mungman

It's you not me.
Mar 27, 2011
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viper0220 said:
This would not look good on the NHL as they are trying to get good attention in the US. And if this was the case don't think that the CoG would approve. If the team is to move to QC(as they are the only city with owner willing to pay and a new arena on the way) or any other city it would be this year. If they don't move then they are in for the long haul, that is until Glendale runs out of money or residents(taxpayers) .
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Who says this will be revealed to CoG? This is something that would be in the purchase agreement with the league, that may not be revealed to CoG.

What will be interesting is the terms of the lease, length and any exit clauses that are negotiated. That will be what tells the tale of any movement clauses in the purchase from the league IMO.
 

Whileee

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May 29, 2010
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CasualFan said:
I'm intrigued to see what else is included in a Jamison proposal to Glendale, assuming he submits one. I'm skeptical that Jamison would agree to an offer that only included the "Arena Management Fee" subsidy, especially now that it has been reduced to $17MM. That would be a significant departure from what the previous MOUs sought in public funding.

I would also use caution when opining that Goldwater would not challenge a Jamison sale simply because they opted not to file against the $25MM payments to the NHL. Attorney Dranias is now more readily available having completed his case in front of the Supreme Court (successfully). Comments from Goldwater cause me to believe that the sales tax increase associated with funding the Coyotes plan may be the type of apple the institute chooses to bite.



Didn't we do this exact story back in the beginning of the year after some random guy claiming to be a reporter in Phoenix twittered the same thing? Twitter is like the electronic National Enquirer, funny to read but clearly not to be taken seriously.
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It seems to me that the NHL has already "approved" three ownership bids prior to Jamison. Finding a buyer has always been easier than negotiating the terms of a lease. I completely agree that the $17 million annual subsidy is nowhere near as rich as previous owners were able to negotiate with Glendale. I wonder whether there is an "out clause" that would hedge Jamison's bet. That becomes a rather risky proposition for Glendale council, since they might be asked to put forward a huge financial commitment and still be left with an empty arena after several years.

Without a significant discount on the sale price, this is going to be a very difficult deal to complete. Everyone seems willing to bend on their terms except the NHL.
 
Vinc360

Vinc360

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Apr 3, 2008
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Lisa Halverstadt ‏ @LisaHalverstadt

A highlight: #NHL No. 2 says #Coyotes playoff success could decrease #Glendale's $25M bill. http://*******/IlRCmK

Isn't this pretty much admitting that the bill is literally a subsidy, giving ammunition to the GWI? Why would an AMF decrease if a hockey team is successful???
 

viper0220

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Oct 10, 2008
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Vinc360 said:
Lisa Halverstadt ‏ @LisaHalverstadt

A highlight: #NHL No. 2 says #Coyotes playoff success could decrease #Glendale's $25M bill. http://*******/IlRCmK

Isn't this pretty much admitting that the bill is literally a subsidy, giving ammunition to the GWI? Why would an AMF decrease if a hockey team is successful???
Click to expand...



If this is the case then it will be subsidy and GWI will step in. I hope GWI steps in no matter what the deal is.
 
Ugmo

Ugmo

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Oct 24, 2011
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Vinc360 said:
Lisa Halverstadt ‏ @LisaHalverstadt

A highlight: #NHL No. 2 says #Coyotes playoff success could decrease #Glendale's $25M bill. http://*******/IlRCmK

Isn't this pretty much admitting that the bill is literally a subsidy, giving ammunition to the GWI? Why would an AMF decrease if a hockey team is successful???
Click to expand...


That would just be the AMF for this year though, right? The one they're still trying to find the money for?

So not really relevant to their future (not directed at you Vinc360, just pointing out that the tweet isn't bad news for QC fans).
 

viper0220

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Oct 10, 2008
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Ugmo said:
That would just be the AMF for this year though, right? The one they're still trying to find the money for?

So not really relevant to their future (not directed at you Vinc360, just pointing out that the tweet isn't bad news for QC fans).
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MY heart just sinks when QC is not close.
 

viper0220

Registered User
Oct 10, 2008
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Whileee said:
It seems to me that the NHL has already "approved" three ownership bids prior to Jamison. Finding a buyer has always been easier than negotiating the terms of a lease. I completely agree that the $17 million annual subsidy is nowhere near as rich as previous owners were able to negotiate with Glendale. I wonder whether there is an "out clause" that would hedge Jamison's bet. That becomes a rather risky proposition for Glendale council, since they might be asked to put forward a huge financial commitment and still be left with an empty arena after several years.

Without a significant discount on the sale price, this is going to be a very difficult deal to complete. Everyone seems willing to bend on their terms except the NHL.
Click to expand...



The NHL owes $200 million to the Bank Of America.
 
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