The Business of HockeyDiscuss the financial and business aspects of the NHL. Franchise sales, valuations, TV contracts, ratings, expansion, relocation, the CBA and work stoppage discussion goes here.
It looks like a second parking study was done by Walker. It is on the Goldwater website and is dated January 24, 2011 and is 138 pages long and titled "Final Report". It looks like a great read for the next two weeks.
Kdb will be around shortly to relist the previous threads- it's a bit a tradition now
You rang ...
And because I've run out of clever lead ins (and know a great idea when I steal it) ...
Plagiarize
Let no one else's work evade your eyes
Remember why the good Lord made your eyes
So don't shade your eyes
But plagiarize, plagiarize, plagiarize
Only be sure always to call it please "research"
Then how did JR get approved with even less progress than MH has made?
He was provisionally approved. Nothing could be finalized until Judge Baum said so. Reinsdorf dropped out of "bidding" before anything was finalized and given to Baum.
It looks like a second parking study was done by Walker. It is on the Goldwater website and is dated January 24, 2011 and is 138 pages long and titled "Final Report". It looks like a great read for the next two weeks.
It looks to me as pro forma income is unchanged from the previous doc. Most of the pages are about the same. The updated one includes several appendices that weren't included in the original.
NOI of $2 mm in the first year versus over $6 mm in debt service.
Something I didn't notice last time.... they assume 7,500 people attend Coyotes pre-season games on average, staring next season.
Conclusion section of Walker report notes that it can be used as a basis for a $70MM bond issuance. That's a little shy of the $100MM++ the city wanted...
I posted this in the last thread, but my suspicion is COG is trying to stall the sale as long as they can in hopes that it go past the NHL/TNSE's preferred date for taking over ownership (and making the proper preparations for relocation).
This way COG can offer up another 25 million to the NHL and hope they allow the circus to continue for another season. The fact that the Walker report went public has really turned up the heat on COG, but in terms of public opinion and as a potential threat from GWI. I think they want time to regroup, refocus and find a new way to "legally" give Hulsizer the money.
The question now is if the NHL will grant COG another year, even if they're willing to pay 25 million again (or more).
I posted this in the last thread, but my suspicion is COG is trying to stall the sale as long as they can in hopes that it go past the NHL/TNSE's preferred date for taking over ownership (and making the proper preparations for relocation).
This way COG can offer up another 25 million to the NHL and hope they allow the circus to continue for another season. The fact that the Walker report went public has really turned up the heat on COG, but in terms of public opinion and as a potential threat from GWI. I think they want time to regroup, refocus and find a new way to "legally" give Hulsizer the money.
The question now is if the NHL will grant COG another year, even if they're willing to pay 25 million again (or more).
No, I don't see that Running Riot. I don't even believe the COG could hope for that to happen. No way Bettman goes back to the BOGs and says, "we been looking for an owner for 2 years now (actually much longer since this was going on pre-bankruptcy) and all we need is just one more year." The end date one way or the other is coming soon. I hate predicting timelines, but I can't see this dragging out much longer, certainly not into the summer.
This way COG can offer up another 25 million to the NHL and hope they allow the circus to continue for another season.
The question now is if the NHL will grant COG another year, even if they're willing to pay 25 million again (or more).
I think you actually began to answer your own question there. In my opinion I think it is a rather large assumption to think that the NHL would accept another $25 million dollar payment (resulting in another year of uncertain ownership limbo) versus a cash bid from a solid ownership group located elsewhere.
Conclusion section of Walker report notes that it can be used as a basis for a $70MM bond issuance. That's a little shy of the $100MM++ the city wanted...
Yes, they felt it would be useful for a $60 to $70 million bond offering. Also you may note that Glendale originally planned to offer these bonds on November 15th, and Walker requested the report and numerous other items in the appendix be made available.
Personally I think they're just trying to delay things to the point where the NHL just steps in and determines that relocation has to go ahead. They can blame the NHL for moving the team at that point and say that they were so close in finalizing their deal.
These delays have just become absolutely comical. They're supposed to have a plan by now, issue the bonds, see what happens with that, see what happens with Goldwater. They've just been stringing everyone along bit by bit when this entire process should have been orderly and swift.
I mean, you look at the sale of the Sabres and the sale of the Canadiens. Everything with those deals went smoothly and on schedule. This entire process for the Coyotes has been an incredible balancing act with so much riding on every little step in the process. It's all gotta come down sooner or later.
Well, here we go again. ANOTHER meeting featuring the catch phrases
- "board up the windows and shut the arena"
- "Losses over $511 million"
- "Jobs lost everywhere"
and so on...
I wonder if Gary, Bill and Mathew will be at the meeting? They could bring their dates to the Valentines game against the Caps the night before. Little Logan will surely be in school at 1pm on a Tuesday. No parent would promote truancy.
Interesting in the Walker parking report that the Coyotes may account for 60% of parking revenues. That would mean that the COG could make 40% of the projected parking revenues and have them seeing black rather than red without giving Hulsizer the $100 million for parking. Imagine if they anchored that with an AHL team? Just speculting.
Last edited by blues10: 02-11-2011 at 07:05 PM.
Reason: spelling
Well, here we go again. ANOTHER meeting featuring the catch phrases
- "board up the windows and shut the arena"
- "Losses over $511 million"
- "Jobs lost everywhere"
and so on...
"Cats and Dogs living together...."
Yes, I guess on the 15th, they get to take a good look at how deep they are. I agree though, there will be probably more of what you say, trying to reassure everyone that things aren't as bad as they seem, really......just don't look behind the curtain (again)
Direct the City Manager to continue taking the necessary actions to effectuate the transaction with Arizona Hockey Arena Holding LLC and Coyotes Newco, LLC
