Phoenix XL - Rich Man's World
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10-29-2011, 03:26 PM
Originally Posted by
declared Bankruptcy, the NHL increased its Line of Credit (I believe with
) from app. $70M to $250M. They used those credit facilities to buy the Coyotes and have been using them ever since to cover losses over & above the $25M provided by the COG. Whats not clear is whether or not they receive Revenue Sharing as clearly they dont reach the thresholds in terms of Seasons Ticket Subscribers.
Is there servicing being paid on said loans? Where does Bettman get
It's a shell game, Killion. Bettman may have bought time with a credit line, but it's not like that's free money either.
Gumps' & Fugu's
assertions that the individual owners are actually paying the freight are erroneous. This is on
head. If he cant sell the team locally, then he'll have to sell them for relo and I guess we know where & to whom unless there is truth to the rumors that Levin might be waiting in the wings out in Seattle. Either way, the leagues nut will be covered.
Obviously Bettman has to sell the team for more than the cost of the loan, right?
also raises an interesting point with respect to NBC & the potential fallout the loss of Phoenix, on the heels of Atlanta might cause with respect to their contract with the NHL. Youve' just gotta figure they wouldnt be impressed, though whether or not the fee's would decrease is questionable.
This point came up after the NBC deal was announced and around the time that Atlanta was also in play. One of the BOG let it slip offhandedly that there might be a small "rebate" that would need to be negotiated if Phoenix was moved. Iirc.