View Single Post
Old
02-19-2013, 04:20 AM
  #760
TheLegend
Moderator
Megathread Gadfly
 
TheLegend's Avatar
 
Join Date: Aug 2009
Location: Orbiting BoH
Country: United States
Posts: 8,681
vCash: 500
Quote:
Originally Posted by XX View Post
Sell the team for $90m to a deep pocketed owner, with a ~10m a year AMF and this team will be fine. But that requires compromise on the part of the league and the city. If I am the council, I do nothing but rail Bettman and anyone put forth on the asking price. Publicly flog them. Daily press releases about how the league is trying to sell the team for twice what it is worth, passing the burden to the city.

Don't let them hide out of the spotlight like this. It's absurd. Look at the deal the Blues sold for.



A much better team (and a less distressed asset) sold for $120 million + an AHL franchise (which can be resold) + a large share of the opera house. A venue which had just completed $79 million in renovations.

Yet the Coyotes are 'worth' 170 million. Are you ****ing kidding me Gary?
Bettman promised the other 29 owners that they would not lose a dime on the league ownership of the franchise. They bought the franchise out of BK for $140M and wrote off another $30M in losses for that year. Hence the $170M price tag.

However I'm in agreement with Whileee that the price needed to be dropped to somewhere in the neighborhood of what the market is worth which Forbes had at around $138M. The reasoning is the NHL bought the franchise for the specific reason to protect the league's exclusive rights to determine where they place franchises.

Sometimes you have to pay to protect those rights. The city of Glendale never was ask to help protect those rights.... it's been forced on them by the very people who should be paying for it..

TheLegend is offline