Phoenix LXVIII - "Watch out for that Tree"
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01-25-2013, 12:21 PM
Join Date: Feb 2010
Originally Posted by
Still though, I believe MSD would still call for the entire Franchise as collateral. Like before and like with the Panthers.... Another thought I had was, wouldn't have GJ gone and done an arrangement with MSD to set the foundation for the purchase costs and perhaps is just struggling to shore up the op costs associated?... Just thinking out loud here
Ya, I just dont see ANY private investment firm, particularly those specialising in sports & entertainment properties touching this deal with a barge pole. Absolutely not. Even if the franchise was put up as collateral it isnt portable under the existing Lease Agreement and thats the only way you might be able to recoup whatever amount of money you'd lent to the JIG. Secondly, if the AMF payments are being used as collateral to service the payments on the loan, an advance against receivables, you take a look at Glendales state of affairs, possibly headed for a municipal bankruptcy even without the added burden of that hugely inflated obligation. They could easily default. So unless your actually counting on that happening in order to move the team, which is a pretty nasty way to be operating.... As for Florida, the Panthers arena operations through SS&E at least have their act together, the building one of the busiest in North America. But Glendale? With whats transpired? Just dont see it as being remotely plausible that MSD or anyone else backs Jamison on that play.
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