Phoenix XXVII: Can we all get along?

[MountainHawk]

So what happen if:

Glendale finds a buyer for the bonds.

The sale is completed.

GWI wins the lawsuit.

Is the sale null and void?

The sale is between the NHL and MH, so I would say 'no'. The LEASE would be null and void.

 

[roccerfeller]

will they sue before hulsizer gets the money? if they sue after he receives the money wont it be too late..im assuming hulsizer is gonna give the money to the nhl almost immediately....if goldwater wins a long court battle what exactly happens? hulsizer has to give the money back? but hes already given it to the nhl! i dont get this....glendale has to get the bond money first...once they get it and give it to hulsizer and he gives it to the league how can a judge return the money from nhl to bondholders...there are 4 degrees of seperation....my god this is confusing

That's the thing. GWI is saying they will only file a lawsuit once the bonds sell.

They have confirmed now they will do this. Clearly, they are serious, otherwise they would not have made the statements they did today. But I think all parties would like to avoid a suit if they can. So if GWI can simply threaten to scare away potential investors, then they will do that.

 

[billy blaze]

Darcy Olsen on Brahm Resnik's show on Sunday- mostly talking points, Resnik questions GWI's ability to go to court (expenses), info on Goldwater's finances- not deep pocketed, have only 2000 supporters, Olsen not aware of any money being pledged from Canada, COG, NHL ask GWI to negotiate a different deal, says COG saying empty arena means closure- COG needs someone with private money to pony up- Resnik asks if offers of money to Goldwater have come from COG and/or NHL- Olsen says no- 99% chance of suing (100% now), won't negotiate because the constitution is non- negotiable- quote " when has against the law been negotiable".

http://www.azcentral.com/video/826256195001

 

[blues10]

Um, dirt? Hopefully it will be on Court TV. I just can't see them getting a good rate. Not after the GWI said they will sue. If their previois letters scared off investors, then this new statement should do the same.

Bettman can get the TV ratings that he' always hoped for.

 

[Critical Mass]

I don't understand the feasibility of the business plan given that the various parking studies used 6% or so as the projected interest rate on the bonds.

If, as expected, the market demands somewhere closer to 9% and there is no new parking study revising revenue estimates how can this be a break-even deal at best?

With interest rates 50% higher than initially projected it seems to me the project is now absolutely budgeting excise taxes as part of the repayment plan unless there is some other revenue stream I haven't heard about.

Besides being bad business, does this not necessarily contradict the constitution? There is no demonstrable value commensurate with the expense with bond interest at 9%.

 

[RAgIn]

Bettman can get the TV ratings that he' always hoped for.

In Canada, yes. Glendale and Phoenix?: insert insect noises.

 

[danishh]

question:

if GWI bases their case on the fact that glendale isnt getting fair value back for their investment, does their case not get better and better as they drive up the interest rates?

 

[zapy]

question:

if GWI bases their case on the fact that glendale isnt getting fair value back for their investment, does their case not get better and better as they drive up the interest rates?

thinking too much buddy

wait till september and then we'll know everything

 

[Coach]

Not sure if this has been posted yet:

Nice piece. Wonderful to see Goldwater sticking up for the Glendale taxpayers.

 

[Coach]

That was reported by the local Fox Sports anchor who said he spoke with Hulsizer after the GWI release.

Strange how Daly didn't know about this considering their regular communication.

 

[blues10]

^^^^I believe pro sports should be supported by fans not taxpayers so I thought this was a very good interview. If Hulsizer just bought the team with his own money he could have made some trades before the deadline.

 

[Coach]

Can somebody more knowledgeable than me explain the repercussions of a lawsuit on those who have purchased the bonds. Is their money at risk?

If Goldwater sues and wins do investors get their investment back? Do they get the interest as well? Or do they lose their money?

If their money isn't at risk why does the rate go up with litigation possible?

I am trying to understand what an investor needs to be convinced of to buy these bonds. Does he have to believe that the deal is legal? Would he be gambling with his money? If not why be afraid?

Sorry for my ignorance. I makes money and I spends money. That's it.

I'm no expert but my understanding a lawsuit could tie the bonds up in litigation. Meaning they could get tied up for years without earning interest. Lots of risk in buying these bonds.

 

[roccerfeller]

http://slam.canoe.ca/Slam/Hockey/NHL/Phoenix/2011/03/15/17630511.html

Asked how the suit affects the deal now, deputy commissioner Bill Daly was noncommittal, Tuesday.

“Difficult to say at this point,” Daly said in an e-mail to the Sun. “We will have to evaluate and make decisions in due course.”

Different than Daly`s other quote.

 

[Coach]

PHX PBP-man Dave Strader just said that his inside sources tell him that there are buyers for the bonds, just a matter of what rate they have to pay.

Yes sure once you start offering 50 or 60% interest they can find some buyers.

 

[blues10]

http://slam.canoe.ca/Slam/Hockey/NHL/Phoenix/2011/03/15/17630511.html



Different than Daly`s other quote.

Tomorrow should be a very interesting day. Daly seems to be speaking a different tune.

 

[Puckschmuck*]

http://slam.canoe.ca/Slam/Hockey/NHL/Phoenix/2011/03/15/17630511.html



Different than Daly`s other quote.

Yes, but I like this statement better!

 

[leoleo3535]

Bravo!

It is incredible to think that Bettman and Glendale could get away with this.

 

[RAgIn]

http://slam.canoe.ca/Slam/Hockey/NHL/Phoenix/2011/03/15/17630511.html



Different than Daly`s other quote.

One quote for Glendale, the other for the Canadian media. How special.

 

[TGOTC]

A local Fox reporter talked to Hulsizer and he said that the bond sale should be done within the next day or so. Hulsizer also suggested that he will counter-sue the GWI for tampering of the bond sale.

 

[Brodie]

http://slam.canoe.ca/Slam/Hockey/NHL/Phoenix/2011/03/15/17630511.html


Different than Daly`s other quote.

Different stories for different audiences... pretty sly move.

 

[leoleo3535]

A local Fox reporter talked to Hulsizer and he said that the bond sale should be done within the next day or so. Hulsizer also suggested that he will counter-sue the GWI for tampering of the bond sale.

Oh and that is likely......will Bettman pay his legal bills or is Glendale offering a bond for this as well?

 

[objectiveposter]

wow...looks like we might finally get some answers in the next few days...hulsizer seems confident..afterall what difference does it make for him what the interest rate is? its not his money...next few days should be fun

 

[Metzen]

Heck, I'd take out a loan to buy the bonds if the interest on the bonds cover the repayment amount on the loan.

NHL, just let me know.

 

[Jet]

A local Fox reporter talked to Hulsizer and he said that the bond sale should be done within the next day or so. Hulsizer also suggested that he will counter-sue the GWI for tampering of the bond sale.

link?

 

[Brodie]

Hulsizer has said the bond sale was imminent for close to a month, so yeah. Grain of salt.