Phoenix LXVIII - "Watch out for that Tree"
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01-25-2013, 10:43 AM
Join Date: May 2010
Originally Posted by
I'll admit my bias upfront and state that I'd prefer that the Coyotes were relocated to QC, preferably tomorrow if at all possible. My suspicion however is that the NHL don't want to walk away from the COG subsidy if at all possible and will probably facilitate the financing of JEG's bid as a last resort - at arms length or otherwise, whatever it takes. If the league is eventually able to pull off having a civic government essentially underwriting a portion of club operations under the guise of "arena management", to such an overt extent, then that sets a great precedent from their perspective with regard to dealing with other civic governments going forward.
Ex the obvious risk of owning that club in that market, the COG subsidy represents free money regardless, period. Free money is appealing to many of us.
Investment usually implies a return on investment, one way or another. So even if an investor has to invest "only" $100 million, he must be thinking whether owning the Coyotes is a better economic proposition than other ways that he could invest that money. That excludes the "vanity owners" and "schemers". The "vanity owners" are more interested in the fun and prestige of owning a professional sports team, and don't mind losing money for their hobby. "Schemers" are usually in it for the prestige as well, but they don't have the money. So they come up with a scheme to get ownership even though they don't have the money. That usually ends up badly. The NHL has some experience with this.
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