Phoenix XXI: When will then be now?

Previous thread: http://hfboards.com/showthread.php?t=871985

Let the beat go on...

 

"Buckle your seatbelt sir"

"Ah, Buckle This!"



So, now we get to punt around for ANOTHER two weeks what might happen?

 

Can anyone provde a list/link to all of the previous threads including titles? Anyone?

 

Kdb will be around shortly to relist the previous threads- it's a bit a tradition now

 

"Prepare to sell the bonds."

"Preparing to sell the bonds."

"What's with this preparing? You're always preparing! Just go!"

 

"Oh, hurry up already"

 

It looks like a second parking study was done by Walker. It is on the Goldwater website and is dated January 24, 2011 and is 138 pages long and titled "Final Report". It looks like a great read for the next two weeks.

http://www.goldwaterinstitute.org/case/3200

 

You rang ...

And because I've run out of clever lead ins (and know a great idea when I steal it) ...



Plagiarize
Let no one else's work evade your eyes
Remember why the good Lord made your eyes
So don't shade your eyes
But plagiarize, plagiarize, plagiarize
Only be sure always to call it please "research"


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
09-28-2009Phoenix Bankruptcy Part XXI: 2009 -- A Sports Odyssey
10-26-2009 Phoenix Bankruptcy Part XXII: Long and winding road

Followed up by the ever popular:

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
06-07-2010 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?

 

After the bonds have sold (whatever thread that is, XXV, XXXI) the thread could begin anew as

ALL YOUR BONDS ARE BELONG TO US


I know... the critics of the deal will harp that it won't be long before the poor taxpayers are crying 'SOMEONE SET UP US THE BOMB!'

 

He was provisionally approved. Nothing could be finalized until Judge Baum said so. Reinsdorf dropped out of "bidding" before anything was finalized and given to Baum.

 

It looks to me as pro forma income is unchanged from the previous doc. Most of the pages are about the same. The updated one includes several appendices that weren't included in the original.

NOI of $2 mm in the first year versus over $6 mm in debt service.

Something I didn't notice last time.... they assume 7,500 people attend Coyotes pre-season games on average, staring next season.

 

Are we there yet?

 

Conclusion section of Walker report notes that it can be used as a basis for a $70MM bond issuance. That's a little shy of the $100MM++ the city wanted...

 

"Can you imagine what it must have been like then... then... then..."


Lord John Whorfin: When?
The Red Lectroids: Real soon!


"No matter where you go, there you are"

 

I posted this in the last thread, but my suspicion is COG is trying to stall the sale as long as they can in hopes that it go past the NHL/TNSE's preferred date for taking over ownership (and making the proper preparations for relocation).

This way COG can offer up another 25 million to the NHL and hope they allow the circus to continue for another season. The fact that the Walker report went public has really turned up the heat on COG, but in terms of public opinion and as a potential threat from GWI. I think they want time to regroup, refocus and find a new way to "legally" give Hulsizer the money.

The question now is if the NHL will grant COG another year, even if they're willing to pay 25 million again (or more).

 

No, I don't see that Running Riot. I don't even believe the COG could hope for that to happen. No way Bettman goes back to the BOGs and says, "we been looking for an owner for 2 years now (actually much longer since this was going on pre-bankruptcy) and all we need is just one more year." The end date one way or the other is coming soon. I hate predicting timelines, but I can't see this dragging out much longer, certainly not into the summer.

GHOST

 

I think you actually began to answer your own question there. In my opinion I think it is a rather large assumption to think that the NHL would accept another $25 million dollar payment (resulting in another year of uncertain ownership limbo) versus a cash bid from a solid ownership group located elsewhere.

 

Yes, they felt it would be useful for a $60 to $70 million bond offering. Also you may note that Glendale originally planned to offer these bonds on November 15th, and Walker requested the report and numerous other items in the appendix be made available.

Well, so go the plans of mice and men...

 

Glendale
City Council Special Meeting Agenda
February 15th, 2011 - 1:00 pm

http://www.glendaleaz.com/Clerk/agendasandminutes/Special/Agendas/021511SM.pdf

It's all about the Coyotes.

 

Personally I think they're just trying to delay things to the point where the NHL just steps in and determines that relocation has to go ahead. They can blame the NHL for moving the team at that point and say that they were so close in finalizing their deal.

These delays have just become absolutely comical. They're supposed to have a plan by now, issue the bonds, see what happens with that, see what happens with Goldwater. They've just been stringing everyone along bit by bit when this entire process should have been orderly and swift.

I mean, you look at the sale of the Sabres and the sale of the Canadiens. Everything with those deals went smoothly and on schedule. This entire process for the Coyotes has been an incredible balancing act with so much riding on every little step in the process. It's all gotta come down sooner or later.

 

Well, here we go again. ANOTHER meeting featuring the catch phrases

- "board up the windows and shut the arena"
- "Losses over $511 million"
- "Jobs lost everywhere"

and so on...

 

I wonder if Gary, Bill and Mathew will be at the meeting? They could bring their dates to the Valentines game against the Caps the night before. Little Logan will surely be in school at 1pm on a Tuesday. No parent would promote truancy.

Interesting in the Walker parking report that the Coyotes may account for 60% of parking revenues. That would mean that the COG could make 40% of the projected parking revenues and have them seeing black rather than red without giving Hulsizer the $100 million for parking. Imagine if they anchored that with an AHL team? Just speculting.

 

"Cats and Dogs living together...."

Yes, I guess on the 15th, they get to take a good look at how deep they are. I agree though, there will be probably more of what you say, trying to reassure everyone that things aren't as bad as they seem, really......just don't look behind the curtain (again)

 

No new lease attached.