Phoenix LXIV: Will You Still Need Me, Will You Still Read Me, on Thread LXIV?
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11-09-2012, 01:32 PM
Join Date: Nov 2009
Location: Bay Area, CA
Originally Posted by
One wonders how the COG might have responded in the bankruptcy decision-making if they found out that the NHL plan would require them to find $15-20 million in subsidies annually in order to facilitate a local sale. It seems incomprehensible that the NHL didn't already know that the conditions for a local sale would include very large public subsidies from the COG. If the COG did know that such subsidies would be required, one wonders how they would have justified backing the NHL bid. Well, perhaps that is one of the reasons that the GWI has been chasing after COG records. Someone has to be responsible for the financial damage that this debacle has created for the COG. So far, it looks like a minimum of $375 million in direct payments as the cost for keeping the Coyotes for 20 years, along with forfeiting a range of revenue streams from the arena for all events, including parking.
If they found out? They all knew as early as October 14, 2008. Shumway's dec even includes the powerpoint presentation that the NHL and Moyes gave to the city:
They backed the NHL bid because the staff and council were fine with playing fast and loose with public resources as long as they got to sit in the city suite and take photos with Bettman et al. There's an old adage in government: It's better to have a few wealthy friends than a lot of poor ones.
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