Haggerty: Jacobs should be held responsible
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12-02-2012, 01:43 AM
Join Date: Feb 2010
Originally Posted by
I would seriously like to know the NHL's involvement in the background of how some arenas have been built and deals executed. Promises made, papers signed, if any. For me, Nationwide, Prudential and Glendale are the big three that just didn't make sense from the outset. I agree that it would be high risk to act as guarantor, heck they won't even guarantee player contracts against bankruptcy.
Nationwide & Prudential I havent looked at, but in Glendales case, it really was all on Steve Ellman, who after being rejected in Scottsdale convinced Glendale to float bonds to build the arena, borrowing heavily from Credit Suisse & iStar Financial. AEG was involved early, Michael Dell & several other interesting parties, however its the former thats the most intriguing in this case. If you follow that trail, take you to some strange places. Abu Dhabi, London, Stockholm, Glendale etc etc etc.
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