Phoenix LXXII: Send in the Clowns
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02-28-2013, 06:50 PM
Join Date: Aug 2009
Location: Orbiting BoH
Originally Posted by
.. I wonder if Sherwoods got his facts straight? Its been reported elsewhere that "yes, the NHL did withdraw the $25M in escrow last year"
. So if they havent touched it, why not?
That doesnt make any sense whatsoever. Are they not bleeding red ink to the extent claimed & speculated about ad nauseum with respect to attendance guesstimates, gate & concessions etc? Who just leaves $25M sitting in escrow now 8 months later after legally they had every right to withdraw it?
So if its true that losses as reported & claimed by the NHL were not as deep nor as bad as reported according to some little birdies who saw & read through Jamisons prospectus have told me, then why was that $25M being held in abeyance & uncollected? Earmarked to discounting the sale price or possibly used as a cash infusion in order to carry GJ's deal past the point of sale, a slush fund to be used for ongoing management & operational costs? Or does the NHL, in a final act of largesse, munificence & benevolence plan on returning it to the COG, stopping by City Hall on their way out of town & dropping off a check? One of those giant sized Publisher Clearing House.... Pull Ed McMahon out of the freezer (he still alive btw?) and wheel him along on a dolly. Somethin aint right here about this situation at all. Always follow the money, and here we are again, all kinds of questions, no answers.
You remember Daly's comment last year when he was asked about the second $25M ($20M in escrow) Glendale put up that because of the team's deep playoff run there might not be the losses people anticipated? The $20M is still sitting there.
Also Sherwood said in the interview that up to this point all the 30-day extensions the league and the city have agreed to are not costing the city anything.
So it isn't following the money as much as it's sitting there watching it collect dust.
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