HFBoards

Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, and NHL revenues.

Phoenix LXVII; Route66 - Aftermath

Closed Thread
 
Thread Tools
Old
12-20-2012, 05:30 PM
  #51
Killion
Global Moderator
 
Killion's Avatar
 
Join Date: Feb 2010
Location: Pacific NW
Country: Canada
Posts: 21,209
vCash: 500
Quote:
Originally Posted by mesamonster View Post
Which is precisely why i have always said that GJ is nothing but an apparition empowered to say and do nothing!
While I agree the Gentleman does possess a certain spectral aura, an almost ethereal presence, Im not convinced he's a complete apparition mesa... though you might be on to something. Theres a club in San Jose' called Apparition, odd balls like Chris Isaak, David Lynch, Robert Smith & Siouxsie Sioux occasionally gigging there. Mebbe he owns a piece of that and is seriously into film noire, phantasmagorical riffs, chord shifts, off-beat vocalists?

Killion is offline  
Old
12-20-2012, 06:02 PM
  #52
manisback121
Registered User
 
Join Date: Feb 2008
Posts: 3,289
vCash: 500
It's ******** with him. If they were gonna sell they woulda signed the K with express condition on 1) city council approving deal, 2) referrendum failing, 3) lease signing with pho.

They could have had express conditions so that contractual duties set to go down the line....

manisback121 is offline  
Old
12-20-2012, 10:26 PM
  #53
awfulwaffle
Registered User
 
awfulwaffle's Avatar
 
Join Date: Jun 2011
Location: Phoenix, Arizona
Country: United States
Posts: 6,291
vCash: 500
This was brought up in the Phoenix forum, but there is a requirement that COG gets paid for each game lost under the lockout while GJ is owner, so he might just be waiting until the last moment to buy the team.

awfulwaffle is offline  
Old
12-20-2012, 10:51 PM
  #54
Devils Advocate
mmmmmm....Crow.
 
Devils Advocate's Avatar
 
Join Date: Feb 2003
Posts: 3,682
vCash: 500
Quote:
Originally Posted by ajmidd12 View Post
Wait a minute.... w****s is censored but Merry Christmas or Joyce Clarke is allowed?

What is this the FCC?!?!
Nor is investors censored....that is "too weak"

Devils Advocate is offline  
Old
12-20-2012, 11:56 PM
  #55
OthmarAmmann
Money making machine
 
OthmarAmmann's Avatar
 
Join Date: Jul 2010
Location: NYC
Posts: 2,543
vCash: 500
Quote:
Originally Posted by mesamonster View Post
To JC he will say thanks for your unwavering support by the way, GB put me up to this and now I will have a position with him at headquarters. Thats all folks, the last game played in Jobing was a PO game against LA, hope the fan faithful enjoyed it.
now THAT's an investor...

OthmarAmmann is offline  
Old
12-21-2012, 07:18 AM
  #56
powerstuck
User Registered
 
powerstuck's Avatar
 
Join Date: Jan 2012
Location: Quebec City
Country: Canada
Posts: 2,350
vCash: 500
Quote:
Originally Posted by awfulwaffle View Post
This was brought up in the Phoenix forum, but there is a requirement that COG gets paid for each game lost under the lockout while GJ is owner, so he might just be waiting until the last moment to buy the team.
Ah ha !

No seriously tho (hey it's a snowstorm and last day of work, last day of the world and nothing to do but read this topic), COG did include between 15 and 17M into their budget for the 2012-2013 Coyotes season, so Jamison pays $60k but will get $15M back on signature, invest 2,5M and collect 15M...where do I sign such a deal ?

powerstuck is offline  
Old
12-21-2012, 07:26 AM
  #57
barneyg
Registered User
 
Join Date: Apr 2007
Posts: 2,210
vCash: 500
Quote:
Originally Posted by awfulwaffle View Post
This was brought up in the Phoenix forum, but there is a requirement that COG gets paid for each game lost under the lockout while GJ is owner, so he might just be waiting until the last moment to buy the team.
The $60k/game penalty doesn't apply for the 2012-13 season (source).

barneyg is offline  
Old
12-21-2012, 07:26 AM
  #58
manisback121
Registered User
 
Join Date: Feb 2008
Posts: 3,289
vCash: 500
Quote:
Originally Posted by awfulwaffle View Post
This was brought up in the Phoenix forum, but there is a requirement that COG gets paid for each game lost under the lockout while GJ is owner, so he might just be waiting until the last moment to buy the team.
Express condition makes it certain sale will go forward...does not make him the owner, it does give certainty.

Akin to a house, you sign a K with financing condition; theres an implied condition that you seek a mortgage and make good faith efforts; if able to, you close or give up deposits for liquidated damages,or face other breach remedies.

manisback121 is offline  
Old
12-21-2012, 07:27 AM
  #59
GF
Registered User
 
GF's Avatar
 
Join Date: Nov 2012
Posts: 412
vCash: 500
Quote:
Originally Posted by powerstuck View Post
invest 2,5M and collect 15M...where do I sign such a deal ?
Just the same as Jamieson does. Be the front man for people willing to lose a fortune on a hockey team in the desert, sign with the NHL, collect the cash. It's as easy or (or as GJ proved in the last 18months) difficult as that.

GF is offline  
Old
12-21-2012, 08:23 AM
  #60
CGG
Registered User
 
Join Date: Jan 2005
Location: 416
Country: Canada
Posts: 3,220
vCash: 500
I keep going back to the unknown owners that will soon (allegedly) own the team. We know Jamison is just a front man, he doesn't have the cash to purchase the team. We think the NHL would have approved this ownership group long before they've spent 16 months going down the Jamison path. So who are the owners? There's a whole bunch of interested people in Canada in general, Quebec City specifically, who are somewhat eager to find out what's going on with the Coyotes. I'm sure various media people have been asking around trying to find out how legit Jamison's group really is.

The fact that we've heard absolutely nothing about who his partners are, aside from speculation it's the native tribe building a nearby casino, leads me to the conclusion that the JIG does not have $170 million available right now to buy a hockey team. Surely by now someone doing some digging would have found a bread crumb about who his investors are. Rumours of the Coyotes' demise surfaced long before Moyes turned up in bankruptcy court holding Balsillie's hand. We should have know long ago if there really was money and owners lined up behind Jamison to buy this team.

CGG is offline  
Old
12-21-2012, 09:37 AM
  #61
Killion
Global Moderator
 
Killion's Avatar
 
Join Date: Feb 2010
Location: Pacific NW
Country: Canada
Posts: 21,209
vCash: 500
Quote:
Originally Posted by CGG View Post
We should have know long ago if there really was money and owners lined up behind Jamison to buy this team.
Yes, your absolutely correct. It really does defy logic, that someone somewhere wouldnt have dropped a hint either by accident or design. If even in the strictest of vacuums when dealing with non-disclosures, it would have been simple straightforward common sense, indeed, the City of Glendales most basic and primary responsibility in performing due diligence that they receive an answer to that $300M question.

Clearly Greg Jamison doesnt have $170M+ to buy the team. Access to at minimum and according to general NHL guidelines that a purchaser also have cash or credit facilities available of no less than 50% of the purchase price in order to cover losses & cash calls moving forward. Its the absolute height of irresponsibility & folly, be it government or business to simply award a contract of really any magnitude to a front man for some mysterious group of backers who surely by now wouldnt have had any problem whatsoever in stepping out from the shadows if they were indeed that close to a closing.

Jamisons' "hinted" that former players "might be involved", and if so, they wouldnt be in it for much in terms of actual money, minimum minority investments in order to live the dream of being able to say "hey, I own a piece of an NHL franchise"; along with possible paid positions as Community Ambassadors, Assistant GM's, Scouts or whatever. I mean, God Bless them, but it takes a rare kind of player to be able to transition from playing the game to sitting in the ownership suites, Lemieux the only one who's been able to pull that one off, and only because he was owed a Steamboat Packets' worth of Gold by previous Penguins ownership and had some sharp practising Lawyers looking out for his interests.

Its possible John Kaites & Michael (not Jerry, but Michael independently) Reinsdorf are involved at the Minority levels, along with Jerry Moye's & formerly Steve Ellmans Minority Partner John Breslow and perhaps one or two other locals have committed. Then theres Hulsizer & the Ice Edge Holding's crew. Possible Gary Bettman told him after rejecting his bid for the Blues that he's welcome to join the club, but that he has to apprentice as a Minority Partner, and preferably in Phoenix. And finally, the Tohono O'odham Indian Band. Extremely controversial. After spending tens of millions in fighting off their advances, how does Glendale live with the fact that their now pouring millions more into the Bands bank accounts through Jamisons front?

As discussed earlier, theres nothing stopping him from subbing out the Arena Management Contract to Global-Spectrum, AEG or whomever at market value rates, performance based, pocketing at minimum 50% or more of the annual fee's being paid to him by the COG. Using the remainder to cover losses, pay for advertising & promotion, player contracts, whatever. Another possibility is that he's managed to convince a private investment firm, a banker of dubious repute and at high interest rates to accept Glendales promise of $300M+ as collateral on a loan, providing a Line of Credit. This of course flys in the face of Arizonas' Gift Clause, whereby its against the law for a municipality to strike a deal with private interests that would enable them to directly or indirectly use its contracts in order to garner cash or credit from a 3rd party. Because they arent backing his possible lines of credit it falls' into various shades of grey, as Jamisons' skirted the provision as his LLC holds the Arena Management Contract, the issue never addressed in the lease agreement, nor apparently discussed, vocalised, as he's been playing a shell game ever since entering the scene. Refusing to even show anyone under which conch he initially placed the pea, no one even certain if it exists, that the entire purchase may well indeed predicated on the procurement & signing of the Lease itself combined with minimum Minority Investments before the spigots are even turned on.

Frankly, I believe this is a Dirty Deal, outright Extortion, that the NHL itself is complicit, quite likely one or more members of the BOG's up to their eyeballs involved, direct beneficiaries of Glendales largesse. Jamison acting as the conduit visa-vie sub-leasing & concessions along with any other number of possible services, promises made. The City of Glendale & most certainly the fans deserve far better, much more, but this is how the league operates, their pride on the line, backed into a corner. The NHL's been badly damaged, embarrassed throughout this entire ordeal, compounded by the fact that had ASG not had a complete meltdown forcing yet another retreat from Atlanta & the loss of a huge market, the Coyotes destined to return to Winnipeg, those plans destroyed, the nuisance of the Goldwater Institute in shutting down Hulsizers play etc, the Coyotes deep playoff run that may have tanked a Relo last spring to Quebec followed by a Lockout that frankly looks to me like it could go the full 12 Rounds and into next summer if not longer. And yet still, this is far from over. The teams not going anywhere, and even if Jamison bows out, I fully expect another volume in this ongoing saga, another suitor, a new Mayor, Council & City Manager, new conditions pursuant to a CBA, new proposals, models that might make more sense. Needless to say, Im thoroughly disgusted with the league, the manner in which theyve handled this situation, and unfortunately, all too typical of how they operate.


Last edited by Killion: 12-21-2012 at 11:05 AM.
Killion is offline  
Old
12-21-2012, 10:56 AM
  #62
cutchemist42
Registered User
 
cutchemist42's Avatar
 
Join Date: Apr 2011
Location: Winnipeg
Country: Canada
Posts: 2,736
vCash: 500
Quote:
Originally Posted by Killion View Post
Yes, your absolutely correct. It really does defy logic, that someone somewhere wouldnt have dropped a hint either by accident or design.... Needless to say, Im thoroughly disgusted with the league, the manner in which theyve handled this situation, and unfortunately, all too typical of how they operate.
It's stuff like the Glendale ordeal that make it so hard for me to side with the owners. Your an awesome poster Killion.


Last edited by Killion: 12-21-2012 at 11:00 AM. Reason: Thanks... and mind the Bandwidth c42. Were "Goin Green" around here. Red Green that is.
cutchemist42 is offline  
Old
12-21-2012, 11:06 AM
  #63
JMT21
Registered User
 
Join Date: Aug 2011
Posts: 807
vCash: 500
John Shannon reported the GJ is in Glendale today to officially sign the lease agreement.

IF he's really got the $$$$ the deal with the league should close in short order.

JMT21 is offline  
Old
12-21-2012, 11:09 AM
  #64
MoreOrr
B4
 
MoreOrr's Avatar
 
Join Date: Jun 2006
Location: Mexico
Country: Canada
Posts: 17,700
vCash: 500
The League should've just told Glendale... Sorry, but we're simply not allowing the franchise to stay here. We have offers to move the team elsewhere (not Hamilton because we hate Balsillie and because Toronto doesn't want a team there) but other places, and we're simply not going to spend time and money trying to keep the team here in Glendale until we eventually find an owner.

All makes sense, guys?

MoreOrr is offline  
Old
12-21-2012, 11:13 AM
  #65
GF
Registered User
 
GF's Avatar
 
Join Date: Nov 2012
Posts: 412
vCash: 500
Quote:
Originally Posted by JMT21 View Post
John Shannon reported the GJ is in Glendale today to officially sign the lease agreement.

IF he's really got the $$$$ the deal with the league should close in short order.
Didn't he need to buy the team before signing the lease?

GF is offline  
Old
12-21-2012, 11:14 AM
  #66
Killion
Global Moderator
 
Killion's Avatar
 
Join Date: Feb 2010
Location: Pacific NW
Country: Canada
Posts: 21,209
vCash: 500
Yepp. The rubber appears to have finally hit the road. According to a Shannon tweet, Jamisons signed off on the Lease, has until the end of January to close with the league.

Killion is offline  
Old
12-21-2012, 11:20 AM
  #67
Evil Doctor
Army Recruit
 
Evil Doctor's Avatar
 
Join Date: Apr 2009
Location: Cambridge, ON
Country: Canada
Posts: 2,179
vCash: 500
Quote:
Originally Posted by Killion View Post
Yepp. The rubber appears to have finally hit the road. According to a Shannon tweet, Jamisons signed off on the Lease, has until the end of January to close with the league.
I think I will wait until I hear a source other than Shannon to confirm that this is even happening...

Evil Doctor is offline  
Old
12-21-2012, 11:24 AM
  #68
cheswick
Non-registered User
 
cheswick's Avatar
 
Join Date: Mar 2010
Location: Peg City
Country: Canada
Posts: 3,905
vCash: 574
Quote:
Originally Posted by Evil Doctor View Post
I think I will wait until I hear a source other than Shannon to confirm that this is even happening...
Shannon is the only person who bothers to report on the Coyotes situation anymore.

cheswick is offline  
Old
12-21-2012, 11:35 AM
  #69
bobbop
Henrik's Pop
 
bobbop's Avatar
 
Join Date: May 2004
Location: Suburban Phoenix
Country: United States
Posts: 4,818
vCash: 500
Quote:
Originally Posted by Evil Doctor View Post
I think I will wait until I hear a source other than Shannon to confirm that this is even happening...
Joyce Clark tweeted this AM that deal is signed by Glendale.

Quote:
Joyce Clark‏@clarkjv

received a call from Glendale's Interim City Manager Horatio Skeete. He has just signed the docs for the lease mgmt agree w Hockey Ptnrs.
Our long national nightmare is (almost) over

bobbop is offline  
Old
12-21-2012, 11:37 AM
  #70
David_99
Registered User
 
David_99's Avatar
 
Join Date: Jan 2005
Location: Moncton, NB
Country: Canada
Posts: 4,606
vCash: 500
So today is the end of the world...

David_99 is offline  
Old
12-21-2012, 11:58 AM
  #71
CGG
Registered User
 
Join Date: Jan 2005
Location: 416
Country: Canada
Posts: 3,220
vCash: 500
Quote:
Originally Posted by Killion View Post
Yepp. The rubber appears to have finally hit the road. According to a Shannon tweet, Jamisons signed off on the Lease, has until the end of January to close with the league.
All part of the script. Signing a lease that is contingent on buying a hockey team costs Jamison absolutely nothing, and he had to do the signing before the new council was sworn in. This is pretty much a non-event. It's the buying of the hockey team that actually requires money, of which Jamison has not enough.

CGG is offline  
Old
12-21-2012, 12:01 PM
  #72
DyerMaker66
Registered User
 
Join Date: Apr 2012
Posts: 4,215
vCash: 500
Quote:
Originally Posted by David_99 View Post
So today is the end of the world...

DyerMaker66 is offline  
Old
12-21-2012, 12:10 PM
  #73
goyotes
Registered User
 
Join Date: May 2007
Location: Arizona
Posts: 1,427
vCash: 500
Quote:
Originally Posted by David_99 View Post
So today is the end of the world...
Nice.... I think you may be on to something.

goyotes is offline  
Old
12-21-2012, 12:13 PM
  #74
goyotes
Registered User
 
Join Date: May 2007
Location: Arizona
Posts: 1,427
vCash: 500
Quote:
Originally Posted by CGG View Post
All part of the script. Signing a lease that is contingent on buying a hockey team costs Jamison absolutely nothing, and he had to do the signing before the new council was sworn in. This is pretty much a non-event. It's the buying of the hockey team that actually requires money, of which Jamison has not enough.
Just curious, and not trying to pick a fight here, but how do you know that to be the case? I get the delay argument, but why continue down this path if GJ can't close the deal. Seems after signing the lease, all fingers would point to him as the reason why the deal didn't close. That being the case, why take on that kind of public embarrasment? If he were going to bail, wouldn't have made more sense when the CoG tried to renig on the deal he reached back in June?

Maybe you have some information not available to the public.

goyotes is offline  
Old
12-21-2012, 12:16 PM
  #75
Undertakerqc
Registered User
 
Undertakerqc's Avatar
 
Join Date: Dec 2011
Posts: 3,282
vCash: 500
Please someone explain to me the importance of signing this deal. What does it change? Did Jamieson finally show the money?

Undertakerqc is offline  
Closed Thread

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 07:28 AM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. 2014 All Rights Reserved.