Phoenix XXXVIII: Hulsizer Pulls Bid For Coyotes; UPD 2 unnamed interested buyers

[Killion]

If the new owner is not getting any money from the city. Why would the city have any input about an out clause?

Well, even if a prospective buyer comes along who has perhaps already worked out pricing & terms with the NHL, requiring and requesting nothing from the COG, with the exception of the renewable Arena Mgmnt Contract & demanding a 5-7yr "out", the COG could still turn it down. They'd be crazy to do so and I dont believe they would, but they could if so inclined as you know. Honestly, I think these reports are highly speculative, causing confusion. I dont believe there are 2 separate entities/groups about to make an offer, I believe theres just one, and I believe its none other than Jerry Reinsdorf, likely to make a move on Westgate as well, re-coupling the franchise with the development.

Bonding is a non-starter & a totally dead issue. Theres nothing they can "Bond" even if they were crazy enough to try & fly that kite all over again anyway. Hulsizer agreed to signing on for 30yrs only because of the Bonds & the chunk of change it wouldve' provided in acquiring the team to begin with. Naturally, the COG wasnt about to provide an out clause as well in such a scenario, possibly leaving them on the hook to service the things for years after MH had danced off with the team 5-7yrs on. Bonding = No Out. That story in the AzBiz Journals just plain wrong. I didnt expect to hear, see or read anything substantive until the September 19th Auction for Westgate, however, its possible a deal has been worked out with creditor iStar who holds the paper on the development & the land, the NHL & Beasley so we'll just have to wait & see if these rumors are real or not come tomorrow through Wednesday.

 

[Retail1LO*]

My Favorite Martian = Bill Bixby
Bill Bixby = The Incredible Hulk
The Incredible Hulk = Marvel Comics
Marvel Comics = Spawn
Spawn = Todd McFarlane
McFarlane = Coyotes Mystery Buyer

really pretty simple yes?.

Kevin Bacon is buying the Coyotes?

 

[Bryan574]

Wait, so is an owner stepping up to pay the full asking price of the Coyotes, or are they borrowing money from Glendale?

If that was the case I don't want his financial advisor.

 

[Dado]

Kevin Bacon is buying the Coyotes?

No.

But someone who knows someone who knows him might be.

 

[Whileee]

Not entirely:

"The official familiar with the Coyotes situation said the unnamed Canadian group has plenty of cash to make the deal. That same source said the group could put up $100 million, with $40 million to $50 million coming from the city of Glendale via bonds. The NHL could give approval to the deal in the coming days, according to KDUS."

I'm pretty sure a 40 to 50 million bond givaway is something Goldwater wont like very much. And that might not sell just like the previous bonds.

Like Killion, I have a hard time seeing how a deal can include a substantial bond offering and a bona fide out clause. Unless perhaps the new owners offer to pay back the COG in full for the bond costs if they decide to relocate in the future. If any new deal does include an out-clause, then I expect that Coyotes fans would hope that the deal does include Westgate or some other local investment. A real incentive to invest in the team and make a success of the Coyotes and the Jobing.com is required. If not, then I would see this as an agonizing 7 years of uncertainty, with the very real possibility that an owner will be looking to cash in on sale/relocation in 7 years.

If Reinsdorf truly is in the mix then the deal must include some real estate play as well, I would think. There is no way that Glendale could manage his previous proposed deal, and I can't see any reason for him to sweeten the deal at this point in time.

 

[Cyborg Yzerberg]

My Favorite Martian = Bill Bixby
Bill Bixby = The Incredible Hulk
The Incredible Hulk = Marvel Comics
Marvel Comics = Spawn
Spawn = Todd McFarlane
McFarlane = Coyotes Mystery Buyer

really pretty simple yes?.

Spawn is not a property of Marvel Comics, nor has he ever been.

 

[TheLegend]

I need a shoe picture before I believe!!! Sounds like a too-hopeful-for-his-own-good media type getting hopes up too high a-la THE BALKAN.

Roc is a sports marketer when not on the radio. He's also taking a cautious stance on the current situation like the rest of us.

 

[TheLegend]

Not entirely:

"The official familiar with the Coyotes situation said the unnamed Canadian group has plenty of cash to make the deal. That same source said the group could put up $100 million, with $40 million to $50 million coming from the city of Glendale via bonds. The NHL could give approval to the deal in the coming days, according to KDUS."

I'm pretty sure a 40 to 50 million bond givaway is something Goldwater wont like very much. And that might not sell just like the previous bonds.

Like Killion, I have a hard time seeing how a deal can include a substantial bond offering and a bona fide out clause. Unless perhaps the new owners offer to pay back the COG in full for the bond costs if they decide to relocate in the future. If any new deal does include an out-clause, then I expect that Coyotes fans would hope that the deal does include Westgate or some other local investment. A real incentive to invest in the team and make a success of the Coyotes and the Jobing.com is required. If not, then I would see this as an agonizing 7 years of uncertainty, with the very real possibility that an owner will be looking to cash in on sale/relocation in 7 years.

If Reinsdorf truly is in the mix then the deal must include some real estate play as well, I would think. There is no way that Glendale could manage his previous proposed deal, and I can't see any reason for him to sweeten the deal at this point in time.

Before y'all run off on the usual 400 tangents....

No where is it mentioned WHAT the $50 million in bonding would be for. Certainly ain't gonna be for parking , but there are ways Glendale could put up the money and keep GWI locked out of it.

After all.... GWI hasn't done boo about the $50 million they've spent to date keeping the team here.

 

[Killion]

Spawn is not a property of Marvel Comics, nor has he ever been.

Actually Hawkeye, you might wanna check your facts on that because yes, he was employed by Marvel (and DC) before leaving to form Image with a group of illustrators. You are correct that Spawn was never a Marvel property however for the purposes of the post it was/is moot. Quite frankly, it would not surprise me to learn that he might well be involved with a group of investors looking into buying the Coyotes; my pure speculation based on the scant inf. provided by the radio station report of "former NHL ties, Westcoast based". I can think of no one else who'd fit that bill, and, he spends a fair amount of time in Arizona. Could be absolutely nothing to it whatsoever.

 

[Mungman]

Kevin Bacon is buying the Coyotes?

mmmmm bacon, there are no non-delicious fats, but bacon is the tastiest of all.... but I couldn't find the "makin' bacon on the beach" clip

 

[cbcwpg]

It's one thing to suggest a new owner is going to buy the team with an "out" clause, because that's the easy part... suggesting it. But concidering the CoG has been trying for over 2 years to just sell the team...think of how long it could take the CoG and a propsective buyer to actually agree to what constitutes an "out".

Is it attendance? Is it losses? Does the new owner have to prove they made a "real" effort to keep the team in Glendale? And how does one "prove" intent. How does one prove the team lost money when the books are closed. What if the new owner just goes thru the motions for 5 years because he already has a deal in place to own the team in Quebec or Hamilton? What if the new owner moves money out of the hockey team into some other business to make it appear that the team is losing more money so they can get "out".

Even if the CoG and a new owner agree to an "out" clause, will the NHL? It's one thing for the CoG and the new owner to have an agreement to let the team leave, but what if the NHL still doesn't want it to move? The NHL still controls where franchises are located, and just because you as the new owner get an "out" from the CoG, it still doesn't mean you get to move the team where ever you like. Owning the team in Glendale for 5 years, eating losses of say $20M a year, then being told by the NHL that you can now move the team, but it MUST be to Kansas City ( no knock on KC ) may not be the best thing.

I'm just spewing here, but IMO not having an out clause makes things a lot cleaner for all parties, and trying to agree to what an "out" is could take forever.

 

[cheswick]

Actually Hawkeye, you might wanna check your facts on that because yes, he was employed by Marvel (and DC) before leaving to form Image with a group of illustrators. You are correct that Spawn was never a Marvel property however for the purposes of the post it was/is moot. Quite frankly, it would not surprise me to learn that he might well be involved with a group of investors looking into buying the Coyotes; my pure speculation based on the scant inf. provided by the radio station report of "former NHL ties, Westcoast based". I can think of no one else who'd fit that bill, and, he spends a fair amount of time in Arizona. Could be absolutely nothing to it whatsoever.

Huh? Check his facts? He never said McFarlane never worked for Marvel, just that Spawn was never a Marvel property. Which he is 100% in. None of his facts need to be checked.

 

[He Lied to Mario]

It's one thing to suggest a new owner is going to buy the team with an "out" clause, because that's the easy part... suggesting it. But concidering the CoG has been trying for over 2 years to just sell the team...think of how long it could take the CoG and a propsective buyer to actually agree to what constitutes an "out".

Is it attendance? Is it losses? Does the new owner have to prove they made a "real" effort to keep the team in Glendale? And how does one "prove" intent. How does one prove the team lost money when the books are closed. What if the new owner just goes thru the motions for 5 years because he already has a deal in place to own the team in Quebec or Hamilton? What if the new owner moves money out of the hockey team into some other business to make it appear that the team is losing more money so they can get "out".

Even if the CoG and a new owner agree to an "out" clause, will the NHL? It's one thing for the CoG and the new owner to have an agreement to let the team leave, but what if the NHL still doesn't want it to move? The NHL still controls where franchises are located, and just because you as the new owner get an "out" from the CoG, it still doesn't mean you get to move the team where ever you like. Owning the team in Glendale for 5 years, eating losses of say $20M a year, then being told by the NHL that you can now move the team, but it MUST be to Kansas City ( no knock on KC ) may not be the best thing.

I'm just spewing here, but IMO not having an out clause makes things a lot cleaner for all parties, and trying to agree to what an "out" is could take forever.

Maybe the out clause is the standard 7 year NHL out clause like the one that Balsillie wouldn't agree to in Pittsburgh.

 

[LadyStanley]

dshoalts 7:37am via TweetDeck Phoenix Coyotes, Gary Bettman need a dose of reality TV: http://t.co/dYFCMwb






And if McFarland, by Killion's logic, isn't the new potential owner, perhaps it's Stan Lee? NHL Guardian project creator? Excelsior!

 

[David_99]

dshoalts 7:37am via TweetDeck Phoenix Coyotes, Gary Bettman need a dose of reality TV: http://t.co/dYFCMwb


And if McFarland, by Killion's logic, isn't the new potential owner, perhaps it's Stan Lee? NHL Guardian project creator? Excelsior!

Also Phoenix is a Marvel Comic Character. It's all adding up.

 

[goyotes]

FWIW, I doubt today will bring any clarity to the Phoenix ownership situation. I am hoping we might hear something at the next council meeting on the 23rd, but I am expecting it to be general and not specific to an ownership group. Past history has shown nothing comes together quickly, and I can't see how they would have a MOU or even something looser ready for the council in a week, much less something specific to leak today or tomorrow.

I have also heard that JR is definately still in the picture, but I don't have a source as such that I feel confident about that fact. The Coyotes have basically been out of sight, out of mind right now with focus on the D-Backs fighting for the division race, and the Cardinals pre-season.

 

[headsigh]

Also Phoenix is a Marvel Comic Character. It's all adding up.

Ask any player of fighting games, Phoenix is not one character everyone's fond of.

 

[goyotes]

Ask any player of fighting games, Phoenix is not one character everyone's fond of.

Not unlike the BoH boards. I kid...I kid.

 

[blues10]

Is today the day? I was expecting the big reveal as announced on Phoenix radio. I Guess there is plenty of time until the clock strikes midnight.

 

[Killion]

Ask any player of fighting games, Phoenix is not one character everyone's fond of.

Last time I ever share my Comic Book Confidentials with you guys'.

...and just what the Sam Hill does Kevin Bacon have to do with any of this?.....

 

[MaskedSonja]

Last time I ever share my Comic Book Confidentials with you guys'.

...and just what the Sam Hill does Kevin Bacon have to do with any of this?.....

"Kevin Bacon's Seven Degrees of Separation" is the name of the association game that was played here-that's why the KB throw in .

As for Mr Mcfarlane-Image was okay, but I always preferred DC and Darkhorse-the pinnacle being the Sandman (Neil Gaiman) saga-one of the best stories I've read in Graphic or Novel form

 

[Confucius]

Because they're negotiating a new AMULA?

As it stands right now, the city is paying the NHL up to 25 million per year. Their deal is currently year by year at the NHL's discretion for up to the next 10 years. The league currently has the power to end it and leave after a single season.

The new prospective owners would come to the city and state we'll sign a 3 year deal and assume all costs. You're saying the city would say noway no AMULA unless it's for 7 years.

 

[RR]

FWIW, I doubt today will bring any clarity to the Phoenix ownership situation. I am hoping we might hear something at the next council meeting on the 23rd, but I am expecting it to be general and not specific to an ownership group. Past history has shown nothing comes together quickly, and I can't see how they would have a MOU or even something looser ready for the council in a week, much less something specific to leak today or tomorrow.

I have also heard that JR is definately still in the picture, but I don't have a source as such that I feel confident about that fact. The Coyotes have basically been out of sight, out of mind right now with focus on the D-Backs fighting for the division race, and the Cardinals pre-season.

I've heard that as well personally from three different sources, two of whom would be in the know. Whether JR is simply hanging around or is knee deep in it again, don't know that. But he is around.

Who knows what that means, and I'm too indifferent now to even speculate. Wake me when there is something official.

 

[peter sullivan]

I have also heard that JR is definately still in the picture

jeremy roenick?

 

[Dado]

I don't know if Jeremy Roenick is in the picture.

I am, however, confident that Jeremy Roenick thinks Jeremy Roenick in the picture.