Ownership Cluster**** Thread: NHL and GJ, Put Up or Shut Up!
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01-26-2013, 10:42 AM
Join Date: May 2012
Originally Posted by
If it becomes clear to the NHL and Jamison that he will not be able to complete this sale, we will NOT be informed. That's the thing you can be most confident about in this process. If Jamison misses the deadline, he will almost certainly maintain publicly that he's attempting to work with the city for an extension. The league will almost certainly maintain publicly that they continue to work with Jamison. The city will almost certainly maintain that they are doing all they can to facilitate a positive resolution to the matter. If the new council is vehemently against the 320m, and Jamison has no prayer of closing with every penny of that amount, I imagine all sides will keep that fairly close to the vest, while the NHL begins the process of exploring relocation. I imagine all sides will feel it best to keep up appearances of positive progress toward closing until the the last home game has been played. We will be given false hope from all sides until the day relocation is officially announced.
At this moment it
very clear to all of us fans (for and against the Coyotes remaining in Glendale) that January 31st is a drop-dead date. I suspect most of us (myself included) will reverse that opinion in the event that January 31st comes and goes without resolution and all sides provide statements that the process is NOT dead in the water and they there is still HOPE for a positive resolution. They'll hint at unknown circumstances that might allow for a sale to be completed and we'll all have to accept that there might be.
In other words, it will be business as usual and nothing will have actually changed since the day Moyes filed for BK. We will be in the dark, and hanging our hopes on incredibly limited information.
I agree with this.....I also know how difficult it is to put an investment group together to purchase a high risk asset. If you have multiple investors writing 20 mill plus checks, everyone of them might want board seats, some control, and their own bells and whistles in the deal. Getting everyone to agree to one security is very difficult because of the risk. If there were less risk and a more standard type of business, it would be much easier.
Add to that, investors like this are always looking at other deals, so if a better deal comes along, if an old deal blows up and needs more cash, if they get cold feet, etc, they back away... All of this makes for a cat herding process, and it is not easy, likely why the group has investors in and then out along the way.
This why having one large investor for a risky transaction has a higher likely hood of going through. I am hoping this does go through, perhaps the tribe is involved or will get involved, lets hope so. I don't think the 30th is a drop dead date, I think the announcement of moving the franchise and that deal being consummated is the drop dead date. Until then, there is always hope something can be worked out with a buyer....
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