Phoenix XX: Two Weeks!
- Thread starter LadyStanley
- Start date
- Status
Again??!
I dont believe it! For the 100 001st time in 3 years the goalposts have once again been moved to the other side of the field at the very last second!
What legal and financial requirements are they talking about? Why is the selling date for the bonds suddenly uncertain? Will this give the GI time to get an injunction and stop the sale? I dont get it!
What a joke! So here we go for another thread of waiting and broken deadlines! (and I approve the "For a few weeks more" thread title).
peter sullivan
Winnipeg
- Apr 9, 2010
- 2,356
- 4
oh man...i was so looking forward to this being over.....that sound you hear is mark chipman banging his forehead on his desk.
Jesus Christ Horburn
Registered User
- Aug 22, 2008
- 13,942
- 1
It sure looks like COG is scared ****less.
Despite Bettman saying there's no drop-dead date, you have to figure they'll draw a line in the sand eventually.
Despite Bettman saying there's no drop-dead date, you have to figure they'll draw a line in the sand eventually.
Gump Hasek
Spleen Merchant
Or perhaps that instead is the sound of TNSE staffers dancing a jig?
If the bond sale is delayed, what are the odds that this is good news for Glendale?
Perhaps more shoes are soon about to drop.
MaskedSonja
Registered User
Shocking stuff. Didn't see this coming at all.....
Maybe after the playoffs are done in July, maybe we'll have some resolution.....
Maybe after the playoffs are done in July, maybe we'll have some resolution.....
cbcwpg
Registered User
The CoG better send some workers out to fix those rails ASAP, because that train Bettman was talking about; is looking like it is getting ready to jump the rails.
CHOO-CHOOO-CRASH!
CHOO-CHOOO-CRASH!
Moe Mantha
Registered User
The sad thing is that this statement could essentially have been copied and pasted into ANY of the previous 19 threads on this subject and would STILL have been relevant.
cbcwpg
Registered User
That sound you hear is Bettman trashing his office. "Get the CoG on the phone! Those people couldn't tie thier shoelaces if I did it for them! "
MaskedSonja
Registered User
Alberta Yote
Owns the Yotes
Hulsizer is likely asking for it to be delayed so that it doesn't take focus away from the trade deadline. Already showing what a great company man he is.
LT_Canadian
Registered User
Some people have suggested that the COG can't sell the bonds without having some guarantees in place meaning knowing that MH & NHL deal is absolutely going to be sealed. If COG sold the bonds, GWI sued and then the NHL walked yikes. So I can see that lots needs to be done. I would think that paperwork is ready but certain things have to happen in a certain order for things to fall in place.
To me getting the bonds rated is kind of like being pre approved for a mortgage before making an offer on a house. Then after MH's offer is accepted by the BOG then the bonds would be sold. That's just my theory.
Gump Hasek
Spleen Merchant
Remember folks, bad news is often announced late on Friday afternoons to avoid the weekday news cycle. Just sayin'.
Here's hoping that in hindsight today will perhaps mark the date of some resolution to this fiasco one way or another.
Of course, "bad news" depends upon ones definition of bad.
Here's hoping that in hindsight today will perhaps mark the date of some resolution to this fiasco one way or another.
Of course, "bad news" depends upon ones definition of bad.
RECCE
The Dog House
Sure, he's interested. But why was the COG unable to recruit Ellman into any substantial CFD contribution if the Coyotes are so critical? Do you remember all of the confident predictions from folks down Glendale way about how the Reinsdorf and IEH CFD plans would fly because Westgate businesses were desperate to keep the Coyotes? I recall some rather stern rebukes from folks down there when I and others had the temerity to question whether Westgate businesses would be willing to participate in a CFD that would provide such handsome sums to keep the Coyotes in Glendale.
Bonds won't go onsale until Feb 28th, trade deadline is Feb 28th. Did you mean he wanted it to coincide with the trade deadline?
Alberta Yote
Owns the Yotes
I would have used the sarcasm symbol to help you out but I don't use emotycons...ever.I'm sorry...
You're ignoring the inevitable 2 week delay announced on the 21st.
Gump Hasek
Spleen Merchant
MAROONSRoad
f/k/a Ghost
You can try to wish away the issue by saying the management fee "is a wash" but that doesn't make it so. $1.5MM per month works out to $18MM per year. That's a very large sum. The real question is whether the fee is reasonable and fair consideration given what the city receives in return in terms of "direct" not indirect benefits. In order to determine that you'd have to look at what the city is bargaining for and compare it to other arena management arrangements for similar venues. I think that figure is going to be hard to justify. I would add that the city did not submit the arena management to any competitive bidding process.
GHOST
Not really - because when you are pre-approved for a mortgage, the bank is guaranteeing that they will give you $X. The rating of the bonds doesn't guarantee $ in MH's pocket; only the sale of the bonds will guarantee that.
Would you sell a house to someone whose bank doesn't actually have the mortgage money yet and can't really guarantee that they ever will?
(Actually - the whole analogy is weird because in this case someone else is getting a mortgage for you..to give to you to help you buy the house).
Edit : There must be a reason why it's February 2011 and the BOG has yet to officially approve Hulsizer. They've had several opportunities to. (Not sure, but I think even Balsillie was approved by the BOG relatively early in the Pittsburgh process.)
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RECCE
The Dog House
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