Phoenix LXVII; Route66 - Aftermath
View Single Post
01-08-2013, 02:57 PM
Join Date: Jan 2013
Location: Port Washington, WI
Originally Posted by
I wonder if GB has secret intentions to move the team to a different market, but is ensuring that the team itself and survive in Phoenix for several more years until another market/arena is ready to take an NHL team.
Seattle still is not an option in the short term as the NBA needs to sledgehammer a team for relocation to Seattle, afterwhich an arena can then be constructed...
Quebec is not an option short term because a new arena is currently under construction...
Which leaves... Markham, and as far as I know, the arena there is still in blueprints, not physically started...
Phoenix, at the moment, has an arena, a hardcore fan base, and many facilities around it to maintain business, even if that means it is a break even business....
I sincerely believe the league is waiting for the pieces to fall into place to move this team. Jamison may just be a cover, a front if you will, to "hold" the team temporarily and get it off the leagues back.
the problem azaloum,, is that Phoenix has not been a break-even business, in fact far from it. it has never made any profit, and the 50 million the city gave the NHL the past two years did not cover all the losses, the losses those last two year are probably in the range of 80 million or more, so even with the 25 million a year, the losses are still in the 15 milion range. the problem is that jamision not only needs to get enough cash to meet the reputed asking price of 170 million, he also need a buffer of 50% of that to cover expected losses, so we'll say he needs an addition 85 million. thats 255 million dollars , to buy a team and operate it, that has never made a profit. even with three straght postseason appearances and last year a run to the Western finals.
View Public Profile
Find More Posts by NickWIHockey