Phoenix LXVI: Get Your Kicks On Thread LXVI
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12-15-2012, 10:40 AM
Join Date: May 2010
Originally Posted by
Is it really speculation for Hulsizer? They couldn't sell the bonds to buy the parking lots they own so he walked away. He thewn failed to buy the Blues which confirmed the other speculation: that he didn't have the cash to buy, let alone operate, an NHL team.
Yup. I think we're pretty clear on why the Hulsizer and IEH deals fell apart. In fact, many on this Board had predicted that they would fall apart and why, beforehand. As many suspected, IEH didn't have the financial wherewithal, which was confirmed publicly by the COG after first giving them months of exclusive negotiating rights. The parking revenue bond deal looked like a moonshot to many, and turned out to be just that. In fact, if we go back to Reinsdorf, it was abundantly clear that his proposal for about $165 million in subsidies from a Westgate-backed CFD was an absolute howler, so it shouldn't have been a surprise when that deal cratered.
I don't see much mystery in the previous failed attempts. Jamison's deal is a bit more mysterious because the guy won't even reveal who the investors are. Skepticism is based largely on the fact that he had several months to put together an investor group leading up to the May lease agreement, and couldn't pull the trigger. Perhaps he has put together a group now, even though the lease terms are slightly less favorable to him. We shall soon see.
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