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ESPN's Burnside: Hulsizer submitted new deal; COG city manager dragging it out

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06-09-2011, 09:42 PM
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LadyStanley
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ESPN's Burnside: Hulsizer submitted new deal; COG city manager dragging it out

http://espn.go.com/blog/nhl/post/_/i...o-keep-coyotes

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A source told ESPN.com that prospective owner Matthew Hulsizer has provided a new proposal to the city of Glendale for the purchase of the team. This proposal would give the city more options for financing the deal and is more attractive than the deal the city of Glendale previously agreed to, which is presumably still on the books.

The old deal has never moved forward thanks to threats from conservative public interest group The Goldwater Institute that it will sue over the deal, which includes the sale of municipal bonds to help cover the cost of the purchase of the team from the National Hockey League.

Multiple sources tell us there is a divide within city government with some members of the council wanting to move forward with this new proposal and with others, including city manager Ed Beasley, wanting to wait to see whether Hulsizer will kick in more of his own money to buy the team or another owner will come forward to buy the team and put less of a financial burden on the municipality.

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06-09-2011, 10:04 PM
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From the same piece:

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Hulsizer has collected more than $100 million in cash that is set aside for the purchase of the team. It's believed Hulsizer is growing impatient to either close the deal in Glendale, move on to another potential NHL investment or redistribute the money to his investors.
Anyone remember who the other investors are, other than IEH who had about $5 MM committed, then withdrawn?

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06-09-2011, 11:08 PM
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" city manager Ed Beasley, wanting to wait to see whether Hulsizer will kick in more of his own money to buy the team '


Im sorry but if Hulsizer wants to buy the team then pay up and stop thinking the city should pay you to buy the darn team.

I think i should go to a car lot and ask them to pay me to want to buy a car. U think they would go for that?

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06-10-2011, 07:43 AM
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Is this still outstanding? Why does having this drag out surprise anyone?

The CoG bought themselves another year and they are going to keep buying time because they continue to hope ( beyond any common sense ) that somewhere on this planet is someone who will walk up and cut a cheque to buy the team without asking the CoG for some kind of handout.

Listen carefully CoG..... Ain't never gonna happen!

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06-10-2011, 08:10 AM
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Quote:
Originally Posted by cbcwpg View Post
Is this still outstanding? Why does having this drag out surprise anyone?

The CoG bought themselves another year and they are going to keep buying time because they continue to hope ( beyond any common sense ) that somewhere on this planet is someone who will walk up and cut a cheque to buy the team without asking the CoG for some kind of handout.

Listen carefully CoG..... Ain't never gonna happen!
They wouldn't want to do anything precipitously, would they?

By the way, who would have predicted that Winnipeg would have a franchise, solid ownership, completely sold out building and suites for several years, and unanimous BOG approval before the Coyotes even had a completed lease agreement in Glendale?

I think that the longer this drags out, the more difficult it will be to salvage the situation in Glendale. The prospect of another season of uncertainty, perhaps with a less competitive hockey team, looms as a real impediment to finding a solution in that market.

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06-10-2011, 08:11 AM
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Quote:
Originally Posted by cbcwpg View Post
Is this still outstanding? Why does having this drag out surprise anyone?

The CoG bought themselves another year and they are going to keep buying time because they continue to hope ( beyond any common sense ) that somewhere on this planet is someone who will walk up and cut a cheque to buy the team without asking the CoG for some kind of handout.

Listen carefully CoG..... Ain't never gonna happen!
I heard the CoG got a letter from a Nigerian prince, once they get his money out of Africa they'll be able to give the team away to MH without using any tax dollars (besides those pesky fees the Nigerian prince needed to facilitate the transfer).

Ok, seriously now, no way will MH up his offer for the team. He has said that he won't put more in, if he let some of the other partners, or new partners, up their holdings it'd water down his percentage of the company. With the amount of revenue generated by: 1)the low ticket price, and 2)the low ticket sales, he's gonna need a magic bullet rather than a few tweaks to turn this ship around.

I'd like to see how he more than doubles the average ticket price and increases both the STH base and walk-up sales. Maybe make the sale contingent on a driveto13 type sales drive?

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06-10-2011, 08:31 AM
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Quote:
Originally Posted by cbcwpg View Post
Is this still outstanding? Why does having this drag out surprise anyone?

The CoG bought themselves another year and they are going to keep buying time because they continue to hope ( beyond any common sense ) that somewhere on this planet is someone who will walk up and cut a cheque to buy the team without asking the CoG for some kind of handout.

Listen carefully CoG..... Ain't never gonna happen!
The NHL 'allowed' this to happen. It's beyond ridiculous at this point.

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06-10-2011, 08:33 AM
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Quote:
Originally Posted by Fugu View Post
Anyone remember who the other investors are, other than IEH who had about $5 MM committed, then withdrawn?
Im not absolutely certain, but I think it likely John Breslow, Moyes' former minority partner with the Coyotes may be involved along with a couple of other locals'. To the tune of how much I havent got a clue.

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Is this still outstanding?
Im afraid so. Its' really hard to fathom. If this report from ESPN is accurate, then someone should go down to City Hall and have a serious chat with Beasley et al & read them the riot act. Unless Hulsizers' newest & latest proposal goes beyond the pale they should be on it like a fat boy on the last M&M in the bowl. Unless super top secret meetings are going on with Reinsdorf (doubt it) on another planet (or someone else altogether), this incessant dithering & procrastination' has just gotta stop. Speculating here, but it may be the COG's not the problem, it could be the NHL, Bettman requiring BOG approval pursuant to financial matters regarding the teams sale, making a presentation later this month. Whatever the case may be, this is going to be beyond appalling if it rolls past this month without a closing. No one, not Merlin nor the greatest Necromancer's who ever lived will be able to breath life back into the franchise.

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06-10-2011, 08:45 AM
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The NHL 'allowed' this to happen. It's beyond ridiculous at this point.
Your absolutely correct. This Bronc's right out of control & the NHL's done nothing to try & break it. Imagine your a fan or company in Phoenix, Scottsdale or wherever else & your being asked to pony up for ST's or sponsorship?. You might not understand or have followed closely the Thrasher relo; all you read was that they were shipped up North in the blink of an eye by the NHL & here they are coming at you for cash having had 2yrs to get the irons on this thing?.

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06-10-2011, 09:24 AM
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Originally Posted by gchfamily View Post
Im sorry but if Hulsizer wants to buy the team then pay up and stop thinking the city should pay you to buy the darn team.
I'm getting the same vibe. Granted, tens of millions of dollars is worth fighting for if he thinks COG will cough it up -- but at the same time, I'm not very optimistic about an owner who is running things on the cheap before he even gets the keys to his office.

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06-10-2011, 09:26 AM
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Originally Posted by Whileee View Post
They wouldn't want to do anything precipitously, would they?

By the way, who would have predicted that Winnipeg would have a franchise, solid ownership, completely sold out building and suites for several years, and unanimous BOG approval before the Coyotes even had a completed lease agreement in Glendale?

I think that the longer this drags out, the more difficult it will be to salvage the situation in Glendale. The prospect of another season of uncertainty, perhaps with a less competitive hockey team, looms as a real impediment to finding a solution in that market.
Another problem is the potental relo fee for sale outside Glendale might be used to cover NHL losses and not Glendale losses. The city might rightfully demand part of any relo fee after throwing their hat in with the NHL during the bankruptcy hearing, and not siding with Ballsillie. Of course, it is possible a Moyes' settlement might cover some NHL losses, and so a full or partial relo fee could be directed to Glendale to cover thier two years of NHL subsidies. That would mitigate the damage.

IMHO, the market has been jerked around so much, even the best hockey operator in the world couldn't turn this ship around. Maybe CoG has come to this conclusion in private. Unfortunately, for Coyote hockey fans, Winnipeg has amply demonstrated even small a Canadian market can be net contributor to the league. The Glendale situation has relo written all over it. Maybe the Coyote fans could replicate the driveto13, showing possible local owners the won't take a bath in red ink. However, I believe as you seem to the opposite will be fullsomely demonstrated in 2011-2012.

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06-10-2011, 11:45 AM
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Quote:
Originally Posted by Whileee View Post
.....solution in that market.
This is 2011 is it not Whileee?......

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06-10-2011, 12:32 PM
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Funny what happens to Glendale council after the relocation hammer is taken away...

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06-10-2011, 12:53 PM
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Quote:
Originally Posted by cbcwpg View Post
Is this still outstanding? Why does having this drag out surprise anyone?

The CoG bought themselves another year and they are going to keep buying time because they continue to hope ( beyond any common sense ) that somewhere on this planet is someone who will walk up and cut a cheque to buy the team without asking the CoG for some kind of handout.

Listen carefully CoG..... Ain't never gonna happen!
The city is not going to commit a penny more than the 25 million per year the team may be costing them now and that includes the arena mgmt. costs. Why would they be in a hurry to commit more than they already are?

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06-10-2011, 12:55 PM
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Originally Posted by Hockey Fan #751 View Post
Funny what happens to Glendale council after the relocation hammer is taken away...
Yup. Go back to business as usual and pretending nothing is wrong on the hockey front.

Got an arena? Check.
Got a team? Check.

All's good. Circle April 15th 2012 on the calendar, and we will pick things up then.

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06-10-2011, 12:55 PM
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Come on, put a Roman Numeral in the thread title! Do it!

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Originally Posted by gchfamily View Post
" city manager Ed Beasley, wanting to wait to see whether Hulsizer will kick in more of his own money to buy the team '
Something's fishy here. The "approved" Hulsizer deal was apparently still on the table, now all of a sudden he puts in a new offer that is supposed to be better for the city, and Ed doesn't jump all over it? If Beasley doesn't approve, it's hard to think the deal has actually gotten better for the city.

Unless they really are expecting a white knight like The Balkan to come out of nowhere and trump Hulsy's offer?

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06-10-2011, 01:12 PM
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Hulsizer's defiition of "better for the city" might be different than the city's definition.

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06-10-2011, 01:32 PM
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Phoenix XXXVIII - The Heat is Off ???

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Come on, put a Roman Numeral in the thread title! Do it!
Must resits the urge ...
Must resist the urge ...
Must resist the ...



12-08-2008 Hockey in The Desert (Phoenix franchise and finance/business matters)
02-04-2009 Hockey in the Desert II (Phoenix Coyotes franchise and business matters)

05-05-2009 Balsillie puts in $212.5 mil offer for the Coyotes
05-07-2009 Balsillie/Phoenix part II
05-18-2009 Balsillie/Phoenix part III
05-22-2009 Balsillie/Phoenix part IV
06-03-2009 Balsillie/Phoenix part V
06-09-2009 Balsillie/Phoenix Part VI
06-12-2009 Balsillie/Phoenix Part VII: I'm just waitin' on a judge
06-16-2009 Balsillie/Phoenix Part VIII: It's dead, Jim
06-24-2009 Balsillie/Phoenix Part IX: 'Dorf on Hockey
07-25-2009 Phoenix bankruptcy/ownership Part X: The Truth? You Can't Handle The Truth!
08-03-2009 Phoenix bankruptcy/ownership Part XI: A Fistful of Dollars?
08-07-2009 Phoenix bankruptcy/ownership Part XII: For a Few Dollars More
08-12-2009 Phoenix bankruptcy/ownership Part XIII: The Good, The Bad, and The Ugly
08-21-2009 Phoenix bankruptcy/ownership Part XIV: The Wrath of Baum
08-27-2009 Phoenix bankruptcy/ownership Part XV - SITREP: SNAFU
09-02-2009 Phoenix bankruptcy/ownership Part XVI: Barbarian at the Gate
09-08-2009 Phoenix bankruptcy/ownership Part XVII: Wake Me Up When September Ends
09-10-2009 Phoenix bankruptcy/ownership Part XVIII: Is that a pale horse in the distance?
09-12-2009 Phoenix bankruptcy Part XIX: How I Learned to Stop Worrying and Love the Baum
09-21-2009 Phoenix Bankruptcy Part XX: There Will Be Baum
09-28-2009 Phoenix Bankruptcy Part XXI: 2009 -- A Sports Odyssey
10-26-2009 Phoenix Bankruptcy Part XXII: Long and winding road

11-24-2009 Keeping up with potential owners for NHL Phoenix Coyotes (UPD: Ice Edge signs LOI)
03-14-2010 Part II. Potential owners of NHL's Phoenix Coyotes
03-26-2010 Part III. Prospective Owners - Phoenix Coyotes (UPD Lease vote 4/13; IEH signs MOU)
04-10-2010 Part IV Phoenix Coyotes post bankrtuptcy; UPD COG approves Reinsdorf MOU, not IEH MOU
05-02-2010 Part V Phoenix Coyotes post bankruptcy UPD Reinsdorf out? IEH back in? else Winnipeg?
05-11-2010 Part VI Phoenix Coyotes post bankruptcy
05-23-2010 Part VII Phoenix Coyotes post bankrtuptcy
06-07-2010 Part VIII: Phoenix Coyotes Post-bankrtuptcy
06-22-2010 Part IX: Phoenix Coyotes Post-bankruptcy UPD: Pres Moss fired 6/30 with IEH input
07-26-2010 Part X: Phoenix Coyotes - Between Scylla and Charybdis
08-27-2010 Part XI: Phoenix Coyotes -- Greetings, Starfighter, You have been selected ...
09-16-2010 Part XII: Phx Coyotes - Still haven't found what I'm looking for
10-12-2010 Part XIII: Phoenix Coyotes - The Final Cut?
10-27-2010 Part XIV: Phoenix Coyotes - To Infinity And Beyond....
12-05-2010 Part XV: Phoenix - the battle of evermore
12-14-2010 Part XVI: Phoenix -- Money for Nothing
12-20-2010 Part XVII: Phoenix -- Thread Title Available For Lease
01-09-2011 Part XVIII: Phoenix -- Imminence Front
01-24-2011 Phoenix XIXth: Nervous Breakdown
02-02-2011 Phoenix XX: Two weeks
02-11-2011 Phoenix XXI: When will then be now?
02-22-2011 Phoenix XXII: It's Now or Never
02-28-2011 Phoenix XXIII - Bond: The Phoenix Project
03-03-2011 Phoenix XXIV: How many twists does the scriptwriter have left?
03-07-2011 Phoenix XXV: Anyone in the theatre seen a pale horse?
03-08-2011 Phoenix XXVI: Pain in the AZ
03-11-2011 Phoenix XXVII: Can we all get along?
03-16-2011 Phoenix XXVIII: Lawyers, Bonds and Money
03-20-2011 Phoenix XXIX: What's the next act? I'm tired of the dog & pony show
03-22-2011 Phoenix Part XXX Hulz, you gotta get a gimmick if you want to get ahead
03-27-2011 Phoenix Part XXXI: I feel I'm in a time loop
04-05-2011 Phoenix Part XXXII: Bridge over Troubled Goldwater
04-14-2011 Phoenix XXXIII: Sound of Silence
04-20-2011 Phoenix XXXIV: Project Mayhem
04-25-2011 Phoenix XXXV: Several Species of Small Furry Animals Gathered Together in a Cave...
05-03-2011 Phoenix XXXVI - There's got to be a morning after
05-10-2011 Phoenix XXXVII - The Heat is On
06-09-2011 ESPN's Burnside: Hulsizer submitted new deal; COG city manager dragging it out Phoenix XXXVIII - The Heat is Off


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Old
06-10-2011, 01:46 PM
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Whileee
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This is 2011 is it not Whileee?......
What, it's 2011 already?!?!? Having spent too much time in the Phoenix discussions, I must have completely lost touch with time. Going through life repetitively on a "two week" basis tends to do that.

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06-10-2011, 02:18 PM
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Is there anyone here who really, honestly thinks this situation is going to work out and the team will stay in Arizona long-term?

...or are we all expecting this thing to drag on to next spring with no resolution, followed by either a vote for wasting another $25m or a relocation?

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06-10-2011, 02:24 PM
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Is there anyone here who really, honestly thinks this situation is going to work out and the team will stay in Arizona long-term?

...or are we all expecting this thing to drag on to next spring with no resolution, followed by either a vote for wasting another $25m or a relocation?
I expect it to continue to drag on as long as the city continues to give the NHL 25 million. Or at least until someone comes forward with a solution in terms of relocation. I don't think QC is a viable alternative until their arena is done in 2015, right? From what I know, the Colisee is not a viable stopgap arena. So then where do you go? There's nobody around with interest and an arena ready to go.

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06-10-2011, 02:48 PM
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Looks like JMROWE is right. Look's like Hamilton or nothing. The NHL cannot keep doing this. 5 years = Another 100m in tax money?

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06-10-2011, 02:56 PM
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Looks like JMROWE is right. Look's like Hamilton or nothing. The NHL cannot keep doing this. 5 years = Another 100m in tax money?
Who is going to own the team in Hamilton? There is absolutely no way that it would be Jim Balsillie. Not this team and not anytime soon.

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06-10-2011, 02:58 PM
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I note no Roman Numeral, I'm disappointed



Seriously didn't take long for some news to come out again. I do agree with the angle that they've got a year to sort it out, so they can (and probably will)drag this out all the more-though it's really in their interests to get a deal done so Yotes fans KNOW there will be a team past next year, and start plunking down season tickets.

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06-10-2011, 02:59 PM
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Quote:
Originally Posted by Whileee View Post
What, it's 2011 already?!?!? Having spent too much time in the Phoenix discussions, I must have completely lost touch with time. Going through life repetitively on a "two week" basis tends to do that.
I feel your pain....

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