View Single Post
Old
04-03-2013, 08:08 PM
  #929
Whileee
Registered User
 
Join Date: May 2010
Posts: 8,471
vCash: 500
Quote:
Originally Posted by Llama19 View Post
My 'transcript' of the broadcast:
  • Met with Mayor Weiers today.
  • Conversation with Bill Daly, today.
  • Mutual understanding of league’s terms, and where to take it from here.
  • Investment not needed from Capstone (?).
  • Due diligence, had been working on it for six months.
  • On any competition concerns, Pastor states doesn’t understand why it takes so long to get it done.
  • States Weiers is ‘refreshing’
  • Ask how long is the lease - (no response), stated NDAs starting to be signed, moving as fast as we can.
  • $170 million, bottom line, thinks its a solid return on investment.
  • As a banker, this is an undervalued asset.
  • Hard to get people to buy tickets because the team has no owner.
  • Any agreements are in tandem with the city and the NHL.
  • Proposed offer – paperwork received from NHL today, hopping on the plane, and then getting direction on what to do next.
  • No one has put any money down.

Be seeing you!
Okay, remind me not to invest with Capstone. Seriously, how are the Coyotes are an "undervalued asset" at $170 million in Glendale?

Anyway, I'm glad he thinks so. This is exactly the type of potential owner that has been needed for a local sale (assuming he actually has the money). The NHL and COG needed that rare person who saw the asset as being undervalued at the sale price so that they wouldn't need to extract a huge subsidy from the COG to offset some of the purchase cost.

Whileee is online now