View Single Post
Old
06-17-2009, 01:55 AM
  #8
MAROONSRoad
f/k/a Ghost
 
MAROONSRoad's Avatar
 
Join Date: Feb 2007
Location: Maroons Rd.
Country: Canada
Posts: 4,067
vCash: 500
Quote:
Originally Posted by RousselRising View Post
No, it is not true. You are wrong. The Goldwater Institute is an organization that likes to inject itself when it believes taxpayers are getting screwed. If it comes down to concessions to keep the team versus losing the team and getting LESS return on the investment already made by the taxpayers, they'll join the city's fight to keep the team here.

There are plenty of other straws to grasp, so drop GI. It doesn't help your argument unless your boy JB is going to pay Glendale $500M so he can go play in SO. Glendale will happily take that check and GI will find another fight.
Why would JB pay $500mm to Glendale when he could, if he wanted, probably buy the arena from Glendale for much, much less -- i.e., their remaing obligations on the bonds?

He'd then own the arena and could hire AEG to run it with more concerts, etc., and place an AHL team there or whatever. That's a hypothetical question. I'm not suggesting Balsillie would do that or that Glendale's liquidated damages claim of $500mm would be upheld in court.

Now on to the Goldwater Institute:

Quote:
In a filed declaration, former Coyotes chief executive officer Jeff Shumway claims Beasley tried to keep a letter about the team’s financial condition from becoming public. Coyotes officials also claimed Beasley agreed to $14.6-million in annual subsidies for a new team owner, while he was saying publicly there would be no such financial help.

Beasley has denied doing anything improper.

City council also has to worry about drawing a lawsuit from the Goldwater Institute, a non-profit watchdog group based in Phoenix. The group monitors public spending and has successfully sued municipalities that spend taxpayers’ money improperly.

In a letter sent this month to Glendale Mayor Elaine Scruggs and Beasley, the Goldwater Institute said it will be watching what city council does with the Coyotes and warned of legal action. The letter noted that city revenue is expected to decrease by 12.5 per cent from 2008 to 2010, and it cannot afford to give large subsidies to private companies.

“If it comes down to it, we will do what we need to do,” said Carrie Ann Sitren, a lawyer with the Goldwater Institute.
Doesn't sound like they are in favour of tax payer subsidies for private companies, does it?

Link:

http://www.theglobeandmail.com/sport...rticle1184893/

GHOST


Last edited by MAROONSRoad: 06-17-2009 at 03:59 AM.
MAROONSRoad is offline