Part X: Phoenix Coyotes - Between Scylla and Charybdis
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08-08-2010, 10:38 AM
Join Date: May 2010
Originally Posted by
I do believe its coming Ghost. Not in any sweeping format. But the fact is, cities are getting sick & tired of having their constituents held hostage by predatory owners of THEIR teams. Much of a cities pride & identity is tied to their teams. In Glendales case, it may not be feasible or practicable, may not even be legal for all I know, but its worth thought/exploration. Desperate times n' all.
I still highly doubt that it can or will happen in this case. The financial mountain is too high for a municipality as small as Glendale to take the risk.
I think that if the NHL is bound and determined to have a franchise in Phoenix and it is financially too onerous with the previous history, then it makes more sense for them to sell the team to recoup their investment, and establish an expansion franchise on the cheap in a few years. At that point, they can dictate terms to Glendale (or whomever) on the lease and establish a cost that is not prohibitive (i.e. much less than $160-170 million) for a new ownership group. A big part of the problem right now is the selling price, which was dictated by the competition from Balsillie in the bankruptcy proceedings and the need to cover operating losses last year.
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