Phoenix LXXXI: I'll Gladly Pay You Tuesday for Your Franchise Today!
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06-02-2013, 05:51 PM
43rd TankBuster Wing
Join Date: Aug 2009
Location: Orbiting HFBoards
Originally Posted by
They'd have sold them for Relo but instead approved Ellmans entirely leveraged buyout, enabled yet another Grifter to essentially hi-jack the leagues larger interests in actually developing hockey & the NHL brand in the market with a complimentary rather than all consuming real estate development.
Left to his own devices without any oversite whatsoever, you'd have thought the NHL wouldve smelled a Rat in the over-extended purchase agreement in acquiring the Coyotes in the first place, then secondly when he refused to provide Scottsdale with his financials. He needed a willing municipality that would go for the Goblet without asking for a whole lot in the way of bona-fides'. "Trust me". Well, Glendale did just that, Credit-Suisse & others, Moyes of course, a bit of a Rounder himself, and so here we are. If assigning blame, I lay it directly at the NHL's feet, who in planting the seed in Phoenix in the first place owed it to the game, the people of Arizona & to the other 29 teams to play it straight, up-front, conscientiously & responsibly work with that franchise in order to insure its success & precisely avoid such a massive unravelling of what should've been an entirely successful entry into the 7th largest market in the US.
Ellman bought the Coyotes as a draw to his dream of a massive sports/entertainment complex. He was going to rely on the revenues from Westgate to compensate for any hockey losses. He would build it, and then sell the entire project off (including the franchise) after completion. Which I think would have been this year had all construction schedules been met.
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