Phoenix XXIX: What's the next act? I'm tired of the dog & pony show

[King of Arcadia]

i am not going to pretend i am an accountant or a lawyer, but jiminy cricket, is this enough to get GWI to lay off...i do not think so but then again i really have none of the formal training

 

[Hal 9000*]

Based on the transcript, he was citing the three studies, which valued the parking rights, with detailed financial projections of net income, and noting that the lowest was $60-80M (in NPV). So he said "we'll guarantee the $75M".It seems pretty clear that he will guarantee the projections, which translates into a guarantee of the NPV.

Do you actually think that he would throw around concepts like NPV in that milieu? To your point, if he was just guaranteeing cash, he would have said so, no?

We will see, though.

He never said that at all; here is the sentance...

"We, on Friday, sent a letter to Goldwater to make it brain dead simple. We said ‘Look, we’re going to take the $100 million you get $25 million back. $75 million will guarantee it.’â€

 

[Gump Hasek]

Here is my prediction...

*putting on the Carnac the Magnificent hat*

GWI this coming week objects to the loaning of COG credit; may reiterate their threat to sue if this moves forward.

NHL then says, ah, we're out of time here. Time to to explore venues located elsewhere.

 

[Egil]

i am not going to pretend i am an accountant or a lawyer, but jiminy cricket, is this enough to get GWI to lay off...i do not think so but then again i really have none of the formal training

Alot depends on whether Huzler is guaranteeing $75 mil in NPV or $75 mil spread over 30 years (or at the end of 30 years). I also think that GWI might still try to sue on the using of the cities credit, but that seems to be the weaker side of there case.

 

[GSC2k2*]

He never said that at all; here is the sentance...

"We, on Friday, sent a letter to Goldwater to make it brain dead simple. We said ‘Look, we’re going to take the $100 million you get $25 million back. $75 million will guarantee it.’â€

What he said was: ""$75M - we'll guarantee it".

 

[King of Arcadia]

Alot depends on whether Huzler is guaranteeing $75 mil in NPV or $75 mil spread over 30 years (or at the end of 30 years). I also think that GWI might still try to sue on the using of the cities credit, but that seems to be the weaker side of there case.

i thought he was just saying that of the one hundred million cog was paying him for the parking that he would return 25 to them off that bat and guarantee the remaining 75 million. hey did he not have to pay cog 25 million anyway to r/eimburse them for the 25 million they put in escrow last may. what is really changing

 

[Coach]

GWI is getting exactly what they're asking for.

Great Hulsizer is buying the team with his own 170 million dollars. Great we can now move on to another topic.

 

[GKJ]

He wants to guarantee $75M. Is that coming from his pocket? Otherwise, how do we know we're not back in this position in 3 years? If he's promising it, then I want to see the money.

 

[GSC2k2*]

That's what you were referring to? I said the fee in my opinion was inflated. I made no comment on expenses.

GHOST

An illusory distinction, to put it as kindly as one can. As you very well know, the fee is in solely respect of expenses, and nothing more or less.

 

[New User Name]

He wants to guarantee $75M. Is that coming from his pocket? Otherwise, how do we know we're not back in this position in 3 years? If he's promising it, then I want to see the money.

With the Yotes losing money from day one, I think we'll definitely be back in the same position much sooner than later.

If this deal goes through, we're not getting "the rest of the story"

 

[GSC2k2*]

That is pure straight up genius! Why didn't anyone think of that before!!!

Lots of fans!

Housing market recovers!

Winnipeggers get NHL hockey!

No more WINTER!!

Pure genius!

While we agree on very little, i think we agree that the "WPGer fan relocation" was a very fine post. Even I chuckled at that one.

 

[Dado]

I thought these types of slush money deals were things that John McCain would typically oppose.

What makes you think that? He voted for a $700B bank bailout, what's another couple of hundred million to support desert-style hockey...

 

[MAROONSRoad]

An illusory distinction, to put it as kindly as one can. As you very well know, the fee is in solely respect of expenses, and nothing more or less.

That is not what I was talking about and, no, I did not follow your debate with Whilee.

GHOST

 

[Dado]

He wants to guarantee $75M.

I'll believe that when he puts it in escrow.

 

[Ludwig Fell Down]

Either way, though, no one is "funding" anything. The CoG is buying an asset that is currently part of the franchise. THat is what they are buying. I think you should re-think what the meaning of "financing" is.


THe deal WOULD be completed, except for the efforts of a partisan extreme right-wing organization who has committed the business equivalent of slander (tortious interference).

I arrive a day later and a whole thread has passed by. I have pasted two different replies of yours into one quote, because I still have not mastered the Multi-Quote function.

I thought your reply was fair but I did want to respond to the first post above. I understand that this doesn't fall under the pure meaning of "financing." However, I consider this the eqivalent of financing when looking at the big picture of the overall transation of the sale of the Coyotes by the NHL for $170m (or whatever the current purchase price is).

$100m (or maybe $75m) is coming from the CoG through the sale of the bonds. I consider that providing financing for the transaction. I understand that they are getting an asset in return and in the legal sense is a purchase, but only when singling out this part of the transaction rather than looking at the overall deal as a whole.

I keep coming back to this because of the many ways there could be to structure this deal, the parties have chosen a path that will incur the wrath of GWI and potentially derail the whole deal. I conclude that either this was a very curious choise, or there was no other option to finance the deal.

(I agree with your assessment that MH is reducing his risk and therefore potential upside. I don't have the expertise to question the numbers, although a few posters have certainly raised what appear to be legit concerns about the projected parking revenues)

Regarding the second post that I quoted above, you have stated as fact that GWI has committed tortious interference. However, no court has concluded as such and the CoG hasn't filed suit which certainly woudl have resolved this issue one way or the other, at least in the court system. CoG threatened to file suit (presumably on this issue but that was unclear) but never followed through. It's a bit simplistic to make a conclusion that GWI committed tortious interference when there has not even been a suit filed. Seems to be a conclusion based on your opinion of their transgression.

 

[Hal 9000*]

What he said was: ""$75M - we'll guarantee it".

Yeah, that's tough to say. He's not quite clear (because he never once looks at the camera), and the transcript reads as "will guarantee".

 

[Art.Vandelay]

That is pure straight up genius! Why didn't anyone think of that before!!!

Lots of fans!

Housing market recovers!

Winnipeggers get NHL hockey!

No more WINTER!!

Pure genius!

Sounds like a plan. Who wants dibs on my guest room and one of my season tickets?

 

[XX]

Yeah, that's tough to say. He's not quite clear (because he never once looks at the camera), and the transcript reads as "will guarantee".

Video is up on the Coyotes website. MH was speaking in the context of moving the deal forward, and Walsh asked if it was a falling on the sword of sorts. MH said "those are your words, but I think we've done what we needed to do to move the deal forward."

So, indeed, MH is going to guarantee the bonds. Having McCain and the former AG was just gravy. This is over.

 

[Dado]

Why doesn't he guarantee the $75M in the most concrete manner possible -- by giving CoG the $75M, right away?

 

[RAgIn]

From quoting Hulsizer:

It's early in the game, but I got an idea for a new thread title: "Brain dead simple"

We, on Friday, sent a letter to Goldwater to make it brain dead simple. We said ‘Look, we’re going to take the $100 million you get $25 million back. $75 million will guarantee it.’â€

 

[Jet]

Video is up on the Coyotes website. MH was speaking in the context of moving the deal forward, and Walsh asked if it was a falling on the sword of sorts. MH said "those are your words, but I think we've done what we needed to do to move the deal forward."

So, indeed, MH is going to guarantee the bonds. Having McCain and the former AG was just gravy. This is over.

Haha "this is over" way to jinx it for yourself. This is NEVER over

I'll wait to see what GWI thinks about it before I believe it

 

[RAgIn]

Video is up on the Coyotes website. MH was speaking in the context of moving the deal forward, and Walsh asked if it was a falling on the sword of sorts. MH said "those are your words, but I think we've done what we needed to do to move the deal forward."

So, indeed, MH is going to guarantee the bonds. Having McCain and the former AG was just gravy. This is over.

Would you say it's imminent? or 2 weeks?

 

[GSC2k2*]

Here's the transcribed interviews from tonight's Coyotes/Blackhawks game on Fox Sports Arizona


First Intermission - Matthew Hulsizer with his concession in the purchase bid.

http://coyotes.azvibe.com/2011/03/20/hulsizerwalsh-intermission-interview-on-fsnaz-transcribed/

Second Intermission - US Senator John McCain and former Arizona Attorney General Grant Woods discuss the deal, Goldwater, the Gift Clause and other matters.

http://coyotes.azvibe.com/2011/03/2...ain-and-former-az-atty-gen-woods-transcribed/

Two HUGE interviews.

I know that some like to believe that GWI is an altruistic band of merry men and women doing the Lord's work, but for people who have believed this is a political issue and little else, the killer is the interview with Senator McCain and Grant Woods.

John McCain is the undisputed leader of the conservatives in Arizona (to say nothing of his national profile) and has been for quite some time. Grant Woods is a very high-ranking Republican and high-profile former GOP Attorney General. What GWI has needed for quite some time was the political cover to back off. Sen. McCain and Mr. Woods have handily provided them with just that.

When Mr. Woods says:

I think it’s significant here that a major concession has been made, it’s time now to declare victory and move on.

and Sen McCain says:

We need to take care of the taxpayers and that’s why I think that the Goldwater Institute did a good service. But now I think in the words of our Attorney General, hopefully we can get it settled and move forward.

... the magic words have now been spoken. As a close observer of American politics, it would be stunning for GWI to buck the GOP establishment signaling their desires in this blunt a manner. Certainly Ms. Olsen would be putting her future in the GOP at great risk.

 

[Ludwig Fell Down]

From quoting Hulsizer:

It's early in the game, but I got an idea for a new thread title: "Brain dead simple"

At this rate we'll be there by noon tomorrow. This has my vote!!

 

[Dado]

From quoting Hulsizer:

That second sentence doesn't even make sense.

Looking forward to Monday's PR from GWI stating Hulsizer didn't send them anything about guaranteeing anything.