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Phoenix XCVI: The Government You Deserve ...

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Old
07-05-2013, 02:00 PM
  #901
CasualFan
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Originally Posted by blues10 View Post
Pretty much. RSE from all outside appearances could be in for some rocky times ahead. They certainly lack the financial wherewithal that most ownership groups have. So is Gosbee the majority owner with10 million in the game?

How many players on the Coyotes have more money than some of the owners? Perhaps Doan will take some of his salary in units.

I remain skeptical of the RSE group. Perhaps I will be proven wrong.

Time will tell if RSE can actually close. IMO, there are no real obstacles. The lease structure should be impervious to challenge; Old Man Library doesn't have the financial strength to be a player in the referendum game; the various other moon beam theories on open meeting violations, etc are just insanely stupid and well below 1% probability. I caught up a bit with the thread this morning and the highlight for me was whoever used the Red Dawn analogy. The BOH Army Paratroops deploying into Glendale to get signatures was really funny. After months of rigorous flight track training, BAP is mission-ready.

Anyway, FWIW, RSE is really just more proof of one thing: the market isn't viable for the NHL business model. I watched quite a bit of the council meeting video this morning. LeBlanc stated that RSE spent considerable time roaming the earth, trying to secure financing, and this is all they could come up with. It's not much of a surprise as legitimate lenders and investors have had an opportunity to participate in this for years and have consistently passed. It was a bit queasy when Anthony referred to himself as a "little school girl" during the session. However, I guess that's only the core issue showing up again; the operation is untenable and even with large scale public subsidization, RSE is what you get. Team Gosbee says they can close, maybe they can. Maybe they'll prove all the skeptics wrong and 180 the course. Or maybe they'll be back in front of Glendale again later, requesting $30MM per year from the city to operate their business

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07-05-2013, 02:08 PM
  #902
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Glendale just confirmed their new city manager. Her name is Brenda Fischer, formally city manager of Maricopa.

Did Bowers not want the job?

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07-05-2013, 02:21 PM
  #903
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Glendale just confirmed their new city manager. Her name is Brenda Fischer, formally city manager of Maricopa.

Did Bowers not want the job?
Who wants to be the chief engineer for a train that's on track for a giant trainwreck?

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Old
07-05-2013, 02:24 PM
  #904
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Who wants to be the chief engineer for a train that's on track for a giant trainwreck?
True especially when they ignored his warnings. FYI the new city manager when asked said she was not a hockey fan but would become one now. Typical Glendale.

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07-05-2013, 03:00 PM
  #905
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Glendale just confirmed their new city manager. Her name is Brenda Fischer, formally city manager of Maricopa. Did Bowers not want the job?
Bowers was semi-full-time retired. Former City Manager in Scottsdale. Golden years. Strictly interim. This Brenda Fischer was up against one other finalist (the Asst City Manager from Midland Texas I believe) out of 41 applicants.... Brenda looks interesting. Kinda got that whole Tammy Wynette dealeo goin on with the hair in her picture from Maricopa. Yepp.... ya'll like Tammy Wynette Don?

www.youtube.com/watch?v=DwBirf4BWew

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Old
07-05-2013, 03:07 PM
  #906
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True especially when they ignored his warnings. FYI the new city manager when asked said she was not a hockey fan but would become one now. Typical Glendale.
"Are you a fan of pissing away taxpayer money on an unsustainable private business? "

" I am now! "


As someone so eloquently put it earlier, "forget it Jake, it's Glendale."

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07-05-2013, 03:18 PM
  #907
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I wonder if Horatio Skeete stays on as Asst
City Manager? Or did he take a job elsewhere?

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07-05-2013, 03:58 PM
  #908
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hmmm

So the Fortress loan and RSE money went to NHL
CoG money goes to Fortress
NHL money.. 15 to run arena and 65 spent on coach, gm and roster
So RSE is already broke?

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07-05-2013, 04:04 PM
  #909
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Originally Posted by wunderpanda View Post
hmmm

So the Fortress loan and RSE money went to NHL
CoG money goes to Fortress
NHL money.. 15 to run arena and 65 spent on coach, gm and roster
So RSE is already broke?
Not quite right. NHL money is part of the loan package to RSE; plus future revenue transfer and special fund monies to pay for player costs and operations.

Clear as mud, right?

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07-05-2013, 04:30 PM
  #910
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if Fortress is so confident in lending the funds to RSE, why not have the loan closed NOW? What are they waiting for? Its a slam-dunk according to Mr LeBlanc.. why wait til Aug 5th?? can Fortress legally change its tune within 28 days - and not grant the loan??

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07-05-2013, 04:36 PM
  #911
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if Fortress is so confident in lending the funds to RSE, why not have the loan closed NOW? What are they waiting for? Its a slam-dunk according to Mr LeBlanc.. why wait til Aug 5th?? can Fortress legally change its tune within 28 days - and not grant the loan??

RSE actually has to come up with some cash, about $40 MM, iirc. Not sure if the NHL will require the personal guarantee contracts from the owners, but they'd be foolish to waive that requirement.

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07-05-2013, 04:48 PM
  #912
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Originally Posted by King_Stannis View Post
"Are you a fan of pissing away taxpayer money on an unsustainable private business? "

" I am now! "


As someone so eloquently put it earlier, "forget it Jake, it's Glendale."
Arizona Coyotes XCVII:Forget it Jake, it's Glendale.

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07-05-2013, 04:48 PM
  #913
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Can someone who is part of the remaining 40M, be swayed into renegging on his financial contribution? are these 6-7 people Leblanc was rattling off all in? are there doubts amongst them? if not, what the hell are they waiting for?

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07-05-2013, 04:57 PM
  #914
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Can someone who is part of the remaining 40M, be swayed into renegging on his financial contribution? are these 7-8 people Leblanc was rattling off all in? are there doubts amongst them? if not, what the hell are they waiting for?
If am in PKP shoes and I know Qc is the only emergency landing spot the NHL got. Right now I be hiring a lawyer that I never hired before and send him with a few check to buy some of the Clowns out. Just saying two can play that game. Throw a wrench in that deal at just the right moment and watch it go down in flames.

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07-05-2013, 05:01 PM
  #915
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Can someone who is part of the remaining 40M, be swayed into renegging on his financial contribution? are these 6-7 people Leblanc was rattling off all in? are there doubts amongst them? if not, what the hell are they waiting for?

Given the complexity of this deal--- RSE & Glendale on lease, RSE & Fortress on financing, RSE & NHL on financing + NHL ownership issues and guarantees.... there will be about a South Mountain's worth of documents to sign, and two South Mountain's worth of money to pay all the lawyers reviewing the agreements. The more people you add to the mix, the more paperwork.

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07-05-2013, 05:09 PM
  #916
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RSE actually has to come up with some cash, about $40 MM, iirc. Not sure if the NHL will require the personal guarantee contracts from the owners, but they'd be foolish to waive that requirement.
You mean the Consent Forms? I dont even know how youd go about that now or why youd even bother as here the NHL's apparently lending these Buckaroo's $85M to carry the club. No idea what kind of security they'd have to be putting up against that but I suspect none (they dont have anything anyway) whatsoever, that the franchise itself & its portability is the surety. A faux sale.

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07-05-2013, 05:31 PM
  #917
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Arizona Coyotes XCVII:Forget it Jake, it's Glendale.
I second the nomination

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07-05-2013, 06:23 PM
  #918
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Who wants to be the chief engineer for a train that's on track for a giant trainwreck?
To be fair to the new GoG City Manager, I was reading the she "won" ( I use this term questionably because I don't think becoming the new city manager is winning anything ) the job out of pool of 40 candidates. Either jobs are few and far between down there or there are a lot of people that are glutens for punishment.

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07-05-2013, 06:44 PM
  #919
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To be fair to the new GoG City Manager, I was reading the she "won" ( I use this term questionably because I don't think becoming the new city manager is winning anything ) the job out of pool of 40 candidates. Either jobs are few and far between down there or there are a lot of people that are glutens for punishment.
I think you have to prove you have no math skills for that job.

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07-05-2013, 07:23 PM
  #920
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I think you have to prove you have no math skills for that job.
Or just have a degree in Clarknomics.

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07-05-2013, 07:49 PM
  #921
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I think you have to prove you have no math skills for that job.
I Disagree. Bowers obviously had math skills. I think they want someone good to advise them. But in matters of the hockey team, the council just won't listen.

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07-05-2013, 07:52 PM
  #922
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....the various other moon beam theories on open meeting violations, etc are just insanely stupid and well below 1% probability.
Attention Passengers, this is your Captain speaking, El Capitano "Moonbeam" according to one of our learned friends up front in Business Class.... Do believe you'll find much, from socio-political & legal perspectives to be more than just mildly entertained with in the very near future CF. Could well be grounds for several suits of Tortious Interference if Im not very much mistaken.

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07-05-2013, 08:04 PM
  #923
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Yet in 5 years people will still be making excuses for this team staying, syaing RSE wasn't a true solid owner and that's all they need....
Some might.... but I won't be one of them.

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07-05-2013, 08:04 PM
  #924
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I Disagree. Bowers obviously had math skills. I think they want someone good to advise them. But in matters of the hockey team, the council just won't listen.
Bowers was top notch but with the decisions they make such as the Coyotes vote, I think they want the new manager not to have the nerve to question the council.

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07-05-2013, 08:09 PM
  #925
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Ice Edge guys are Ego driven, I don't believe that they will try to lose money. I think they will want to make money, but if they don't, they have the Oh Well lets move option. They need to add salary, they need to add contracts, why not hit a big shot on Ribero. The answer for Ice Edge will be the gate, if it comes in year 1, they will be in the game long term for Glendale, if they don't see the gate in year one......I see a Loria type ownership, garage sale, crappy team, take the money from Glendale and run.
Funny you should say that...

They just locked him up for 4 years..... $5.5 million per year.

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