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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

FS Arizona: Renaissance Sports and Entertainment close to purchase of NHL Coyotes

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04-30-2013, 06:46 PM
  #1
LadyStanley
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FS Arizona: Renaissance Sports and Entertainment close to purchase of NHL Coyotes

http://www.foxsportsarizona.com/nhl/...63&feedID=3702

http://www.cbssports.com/nhl/blog/ey...rchase-coyotes


LeBlanc and Gosbee head Renaissance.

Quote:
According to the source, the business plan is extensive and focuses on increasing ticket sales, season tickets, corporate sponsorships, suites, realigned partnerships and proper expense management to achieve break-even status within the early years of ownership; per a source familiar with documents, the Coyotes lost between $10 and $15 million last season.

The group would also be aided by added provisions in the league's new collective bargaining agreement that help teams in emerging markets by removing some of the revenue sharing restrictions placed on them in the previous plans.

The source, who has seen the plan, indicated that a purchase agreement between the league and Renaissance is expected soon -- perhaps within the next week -- at which point the group would approach the City of Glendale about an arena management deal that would keep the team in Glendale for the long term.

So, about two weeks.

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04-30-2013, 06:50 PM
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Mightygoose
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The source, who has seen the plan, indicated that a purchase agreement between the league and Renaissance is expected soon -- perhaps within the next week -- at which point the group would approach the City of Glendale about an arena management deal that would keep the team in Glendale for the long term.
Ah, the grand caveat.

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04-30-2013, 07:06 PM
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No Fun Shogun
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I'll wait until I find out that their check didn't bounce to believe it.

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04-30-2013, 07:08 PM
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danishh
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Originally Posted by Mightygoose View Post
Ah, the grand caveat.
that's the question, eh?

how much are they asking for from COG? Will anyone in glendale or arizona raise a fuss? A purchase agreement with the NHL is the easy part.

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04-30-2013, 07:10 PM
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LadyStanley
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Originally Posted by danishh View Post
that's the question, eh?

how much are they asking for from COG? Will anyone in glendale or arizona raise a fuss? A purchase agreement with the NHL is the easy part.
That's the multi-million dollar question. It will also be interesting to see what the results of the plans to accept offers to run the arena are.

It may be that the Coyotes will "simply" be a tenant of Jobing.com arena, not having their organization be the arena operators.

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04-30-2013, 07:49 PM
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Originally Posted by Mightygoose View Post
Ah, the grand caveat.
Indeed. Glendale is already debating closing down some fire stations (rolling blackout/brownout kind of policy, or as it was called "the Russian roulette approach to public safety"). They're not going to be able to give that generous $320M AMF, even in a reduced manner for 5 years. ... or is that part of the entire strategy- prop up one final tirekicker presented as a serious owner and then approach Glendale, asking for a generous AMF, get told no, relocate and blame Glendale?

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04-30-2013, 08:12 PM
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Killion
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... then approach Glendale, asking for a generous AMF, get told no, relocate and blame Glendale?
Too obvious. Audience wont believe it. Illusion's now transparent. Houdini's not coming back. Forget the Seance. Parlour Tricks.

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04-30-2013, 08:16 PM
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danishh
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Quote:
Originally Posted by LadyStanley View Post
That's the multi-million dollar question. It will also be interesting to see what the results of the plans to accept offers to run the arena are.

It may be that the Coyotes will "simply" be a tenant of Jobing.com arena, not having their organization be the arena operators.
does anyone really believe the coyotes can be financially viable as just a tenant?

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04-30-2013, 08:45 PM
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Daryl Jones ‏@HedgeyeDJ

Renaissance man - a person who has wide interests and is an expert in many fields
I for one am happy to see the return of the Ice Clowns. Jones is even tweeting again.

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04-30-2013, 09:03 PM
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Killion
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Originally Posted by danishh View Post
does anyone really believe the coyotes can be financially viable as just a tenant?
Not a chance in Hell. Minimum requirement would be the $6M allocated by Glendale. Full arena control.

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04-30-2013, 09:09 PM
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So just more talk?

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04-30-2013, 09:20 PM
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Killion
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So just more talk?
Potentially... no. A lot of deals like this are pulled out of the fire at the last minute. Stay tuned.

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04-30-2013, 11:08 PM
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So just more talk?
Talk is cheap,

See they even created a group and named it something generic, thats gotta count for something RIGHT

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05-01-2013, 12:25 AM
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Fugu
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I for one am happy to see the return of the Ice Clowns. Jones is even tweeting again.

My god. Will this never end?

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05-01-2013, 08:00 AM
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My god. Will this never end?
It really is unbelievable how many twists and turns this has taken. All along, there have been comments that someone should write a book about it someday -- now I'm starting to wonder if the book would be too long and tedious to be readable.

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05-01-2013, 08:15 AM
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These are the rich idiots that Bettman was looking for. They'd be good owners for now, but a year from now they might not be able to pay the bills.

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05-01-2013, 09:13 AM
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MartysBetterThanYou
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If the Coyotes wind up staying in Phoenix AND the Seattle arena does not get built, does the league go ahead with its not-so-secret plans for expansion with Quebec and Toronto2?

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05-01-2013, 09:17 AM
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This completely defies logic. Now that there's no longer a massive public subsidy on the table and there's a new subsidy-shy city council... now is when these people step up to the plate? This is smoke and mirrors.

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05-01-2013, 09:22 AM
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I get the feeling the Coyotes will be sticking around. Eventually one of these owners will be the real deal. It's to bad for Quebec City but that's it.

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05-01-2013, 09:22 AM
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Either:

A) The league says they had long discussions and finally couldnt reach an agreement

or

B) The league announces a sale to them, conditional to a "Jamison" lease deal with Glendale, which lease is to be signed in 10 days. In short, put the hot potatoe in COG's hand and give them no time.

I vote B. The plan is to blame Glendale. If not, why did the league wait so long to go forward? Could have done that 3 months ago.


Last edited by Nordskull; 05-01-2013 at 09:31 AM.. Reason: Complete the post
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Old
05-01-2013, 09:39 AM
  #21
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[MOD EDIT]

These guys will fail to raise the cash for such a foolish adventure, Just like all those before them.

Now, maybe the nhl will grant them another year long extension (stupidly). But otherwise (since Seattle is out), Quebec is getting the team! (And I'd put my money on Quebec)


Last edited by Major4Boarding; 05-01-2013 at 10:39 AM.. Reason: Not necessary Ace
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Old
05-01-2013, 09:46 AM
  #22
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Let's remember that the old city council was willing to literally give someone enough money to purchase the team and offset 150 million bucks worth of losses. And the NHL still couldn't get rid of the team. And now that a buyer would have to foot almost the entire bill himself, now there's interest? Not to repeat myself, but that's completely illogical.

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05-01-2013, 09:46 AM
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Quote:
Originally Posted by azaloum90 View Post
They will probably be due for an expansion team in 2015-2016 ish time.... You bet your ass Bettman wants to cash in on an Expansion Franchise...

I don't believe Phoenix is going anywhere... I will tell you right now what would help this team... MASS TRANSIT to the arena. that is the problem...
Mass transit isn't the problem. Being unable to generate enough revenue to pay the bills... that is the problem.

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Old
05-01-2013, 09:46 AM
  #24
Matthew McConaughey
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This is such garbage. Yet another saviour at the 11th hour? What happened to Old Man Jamison? Is he still napping somewhere in Arizona? What about the Ice Edge clowns, are they still involved? Hulsizer? Moyes? Reinsdorf?

Buying the team has never been the main problem. The problems are the required subsidy from a nearly bankrupt city, the GWI threat, and the lack of portability that the NHL wants.

Phoenix fans deserve better than this annual dog and pony show.

My gut tells me I'll be saying the exact same thing this time next year.

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05-01-2013, 09:58 AM
  #25
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At the very least, it's the excuse the NHL needs for Coyotes to spend another season in Glendale.

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