Phoenix LXXII: Send in the Clowns
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02-27-2013, 11:49 AM
Join Date: May 2010
Originally Posted by
A couple of comments from Doan....
"You become callous," he allowed before Tuesday night's 4-2 win over the Vancouver Canucks. "It's frustrating and it's disappointing. I was as disappointed as anyone when this last one (ownership deal) fell through. But at the same time, we sold out at home on a Monday night (against Calgary). The fans are with us if we could find a way to get this thing sorted out. "I'm always going to remain optimistic and positive. There's no other way to approach it."
And one interesting comment from the reporter....
Sorry, if you can't make a deal fly when the city is throwing in $308 million -
and one of the holdups was, reportedly, Jamison wanted a 25-per-cent ownership stake for putting this all together
- then you've got real problems. The arena management stipend is now off the table, which means the next guy will have to negotiate his own deal with Glendale.
So, Jamison didn't have the funds himself to buy the team, but for doing all the legwork and bringing people together, he wanted 25% of ownership. No wonder this deal died. If I'm the one investing all the cash, I'm the owner, not the guy who made all the phone calls. Maybe I give Jamison the president's job and a good salary, but 25% ownership... not unless Jamison is supplying 25% of the funds..
This was a point that I think was too often neglected in discussions about Jamison's bid - he wasn't putting in the money, so it all depended on who he would work for, and on what terms. That's why it always puzzled me that Glendale didn't get more active in forcing Jamison to reveal who the "owner" would be. If they had that information, perhaps they could have cut a deal without Jamison's involvement. It's a lot to ask investors to give up a 25% stake in an overpriced and money-losing asset when you have to pay the freight.
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