View Single Post
Old
03-27-2013, 03:52 PM
  #398
Whileee
Registered User
 
Join Date: May 2010
Posts: 13,675
vCash: 500
Quote:
Originally Posted by blues10 View Post
Beasley/Skeete informed council that it could affect ongoing negotiations to sell the Coyotes.
Yup, I recall that. At the same time, they were claiming:

a) The Jobing.com arena was not viable without the Coyotes as an anchor tenant.
c) The AMF being offered was justified based on expenses and anticipated revenues.

Rather than conducting real due diligence, including by testing this in the market, they used the highly suspect analysis of TL Hocking to justify these claims.

Council members that favoured the Jamison deal agreed with them, as did many posting on this Board. If these two claims are correct, then surely a process of due diligence to demonstrate their veracity would have strengthened their position, not weakened it. In that case, the NHL and prospective owners should have been happy, because the COG could have gone ahead with a very attractive subsidy offer for a new owner, justified by their own due diligence.

Are we then to conclude that they didn't actually believe what they said (supported by Hocking), while asking Glendale citizens to accept it as fact?

Whileee is online now