Phoenix XXIII - Bond: The Phoenix Project

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Killion

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Feb 19, 2010
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Talk is cheap. :nod:

Sure, but Toronto's done more than talk. They've sunk all kinds of money in providing benefits to private enterprise (Tie Domi's brother, indirectly with the ACC & the Skydome, that Wedding Cake Arena down at the bottom of the DVP etc), as have most cities across the country, and rightfully so. I really dont have a problem with what Glendales' trying to do here. Big time high-wire act without a net. Its' pretty exciting dont you think?....
:cheers:
 

cbcwpg

Registered User
May 18, 2010
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Between the Pipes
More doom and gloom from the mayor.

Glendale Mayor Elaine Scruggs warned Thursday that if the Phoenix Coyotes leave town, the city-owned Jobing.com Arena would be crippled. She said the arena could end up like its counterpart at the New Jersey Meadowlands, which faces closure after losing its main tenants the New Jersey Nets and Devils.

She wouldn’t directly say the arena would close if the hockey team leaves, but cited the Meadowlands example as possible fate for the Glendale-owned facility.



http://www.bizjournals.com/phoenix/news/2011/03/03/phoenix-coyotes-exit-would-cripple.html
 

Confucius

There is no try, Just do
Feb 8, 2009
21,890
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Sure, but Toronto's done more than talk. They've sunk all kinds of money in providing benefits to private enterprise (Tie Domi's brother, the Skydome, that Wedding Cake Arena down at the bottom of the DVP etc), as have most cities across the country, and rightfully so. I really dont have a problem with what Glendales' trying to do here. Big time high-wire act without a net. Its' pretty exciting dont you think?.... :cheers:

Wedding cake arena was scrapped....although there was alot of talk :laugh:
Domi's brother was the only thing connected with sports in that fiasco.

Skydome was mostly Fed and Provincial money. So yeah the city would kick in 50 million if everybody else kicked in 500 million. :laugh:

You don't honestly believe the city would give the Leafs money, do ya?
 

RECCE

The Dog House
Apr 29, 2010
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aj8000

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Jun 5, 2010
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I don't question that the CFD is important, I just don't know how the COG can all of a sudden use that money as some kind of offset to help make it look like the $100 million subsidy is no longer a subsidy. Parking revenue, sure. I get that. Throw that into the equation. But the CFD? If the Coyotes go away does the COG all of a sudden give that tax back to the taxpayers? It has nothing to do with the lease MH and the COG are negotiating, and as far as I can tell, the CFD isn't being setup contingent on the successful lease negotiation between MH and COG.

However, I believe Ellman does not need to pay into the CFD if the yotes leave and they are not replaced with a tenant that draws an equivalent attendance
 

goyotes

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May 4, 2007
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More doom and gloom from the mayor.

Glendale Mayor Elaine Scruggs warned Thursday that if the Phoenix Coyotes leave town, the city-owned Jobing.com Arena would be crippled. She said the arena could end up like its counterpart at the New Jersey Meadowlands, which faces closure after losing its main tenants the New Jersey Nets and Devils.

She wouldn’t directly say the arena would close if the hockey team leaves, but cited the Meadowlands example as possible fate for the Glendale-owned facility.



http://www.bizjournals.com/phoenix/news/2011/03/03/phoenix-coyotes-exit-would-cripple.html

She does have a point. If you understand Phoenix, with US Airways arena in the downtown, the Job already has a pretty hard time filling dates outside of games. I have been saying for a long time, this isn't all chicken little talk. The City will really be in a very, very tough position if the Coyotes leave. If things are bad now, they will get a lot worse if the team leaves. That is why the City is willing to do so much to try and keep the team around.
 

aj8000

Registered User
Jun 5, 2010
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Approx $260 mill if I calculate 125 mill from 1996.

Keep in mind that many parts of the arena would have been imported; therefore, the low Canadian Dollar at that time would have inflated the cost. However, I am not sure how this is relevant to the Yotes?
 

vivianmb

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Jan 10, 2007
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winnipeg
www.whocares.ca
She does have a point. If you understand Phoenix, with US Airways arena in the downtown, the Job already has a pretty hard time filling dates outside of games. I have been saying for a long time, this isn't all chicken little talk. The City will really be in a very, very tough position if the Coyotes leave. If things are bad now, they will get a lot worse if the team leaves. That is why the City is willing to do so much to try and keep the team around.

and who's fault/problem is that? they shouldn't have built the bldg. in the first place if that's the case.
not saying i can blame the city for trying with all their might. nobody wants to be "the one's who let the team go".
but this whole deal just reeks of a scam.
probably best for everyone(with possibly the exception of Glendale council) to move along and let it go.
 

cbcwpg

Registered User
May 18, 2010
20,101
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Between the Pipes
She does have a point. If you understand Phoenix, with US Airways arena in the downtown, the Job already has a pretty hard time filling dates outside of games. I have been saying for a long time, this isn't all chicken little talk. The City will really be in a very, very tough position if the Coyotes leave. If things are bad now, they will get a lot worse if the team leaves. That is why the City is willing to do so much to try and keep the team around.

I don't for one second think there won't be issues for the arena if the Coyotes leave, because yes that is 41 lost dates. But, and this is what a lot of people are saying... First has the CoG done a real serious study as to the impact of the team leaving or are they just assuming the worst? I know they imagine things will be worse and I'm sure in the short term they might be, but will they be as bad as being said? Secondly, there are some real good professional arena management teams out there that the CoG could hire to fill the arena as best as possible. Has this been looked at?
 

OthmarAmmann

Omnishambles
Jul 7, 2010
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NYC
So I tried to find some news about this on an American sports site (SI.com, espn.com) and all I found was this:
coyotes-paw-patrol-_PS_0086.jpg


So there you have it. The key to keeping the Coyotes in Glendale is to dump everyone and sign these girls to play....in those uniforms. If that doesnt get fans in the stands well I dont know what will.

I don't know about that. We're talking a 6 on average right there.

Well if not that... may I suggest and old War tune..

Phoenix Part XXIV: GWI vs CoG.... "Why can't we be friends?"

I like that and yadda yadda yadda

http://www.bizjournals.com/phoenix/news/2011/03/03/phoenix-coyotes-exit-would-cripple.html

Greater Phoenix Economic Council CEO Barry Broome said the Valley’s pro sports teams, bowl games and Nascar races helps the region’s image, and have helped make the area a hub for high-performance athletic training and sports medicine. Broome said if the Coyotes leave it will hurt the Valley’s brand as a major market. “This is a statement about our reputation as a marketplace,†Broome said.

I don't know. I live in a market with three NHL teams including an original six. The NHL is decidedly behind the NBA, NFL, NCAA, and MLB in popularity. Probably PGA too, and even soccer if you ask the people that don't speak English. NHL is pretty minor, which is why it's relegated to Versus.

She does have a point. If you understand Phoenix, with US Airways arena in the downtown, the Job already has a pretty hard time filling dates outside of games. I have been saying for a long time, this isn't all chicken little talk. The City will really be in a very, very tough position if the Coyotes leave. If things are bad now, they will get a lot worse if the team leaves. That is why the City is willing to do so much to try and keep the team around.

I think they're screwed either way.
 

Killion

Registered User
Feb 19, 2010
36,763
3,211
She wouldn’t directly say the arena would close if the hockey team leaves, but cited the Meadowlands example as possible fate for the Glendale-owned facility.

She certainly sounds to be in denial, and thats just not healthy. At the very least, the options must be considered & discussed openly, something sorely lacking with this particular group of elected officials. The Meadowlands is not the best example to be using either. Look at the Sprint Center in KC instead. Their is life after or without the NHL/NBA. Far from ideal of course, however, with some creativity and an aggressive Arena Management firm running things they should easily be able to cover their debt obligations on the outstanding bonds floated to pay for the thing in the first place. Some radical re-thinking would be required for sure, but c'mon here, enough already with balling yourselves up into the fetal position. Just pull the trigger & get the Bonds out already.

"Those who procrastinate will eventually & ultimately have their decisions made for them by circumstance & by others".
Hunter S. Thompson
 

Antidote

Registered User
Jun 8, 2007
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Victoria, BC
I think they're screwed either way.

Despite that truth, this is absorbing drama. As an old guy, it reminds me of 1950's movie serials - I log on every morning to see if King of the Forest Rangers actually was swept over the falls fighting the bad guy in the boat or miraculously swan to shore. Compelling stuff!
 

Confucius

There is no try, Just do
Feb 8, 2009
21,890
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Toronto
Regarding the presser, the Mayor says Time has runout. Then goes on talking about why Goldwater should be dropping their disapproval. My guess is it's over unless GWI drops it's objection. Selling the bonds seems not to be an option. Maybe they couldn't sell at any interest rate, short of loan sharking.
 
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blues10

Registered User
Dec 10, 2010
7,221
3,120
Canada
Regarding the presser, the Mayor says Time has runout. Then goes on talking about how Goldwater should be dropping their disapproval. My guess is it's over unless GWI drops it's objection. Selling the bonds seems not to be an option. Maybe they couldn't sell at any interest rate, short of loan sharking.

Mayor Scruggs saying that time has run out cannot be a good thing for the Coyotes future in Glendale.:help:
 
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