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Phoenix XLIII: How to Bake Cupcakes in Less Than Two Weeks
Over the weekend, the NHL denied a report that former San Jose Sharks CEO Greg Jamison's group had been approved to purchase the Phoenix Coyotes. But another report has Jamison in the final stages of purchasing the dilapidated franchise from the League, keeping the Coyotes in Glendale
Any legitimacy to this?
Or (to quote aerosmith) is this the same old song and dance?
Sale to keep Phoenix Coyotes in Arizona close to final
The devil is in the details. Even if/when it is announced, lets wait and see what the lease, parking and financing look like and how long the "stay in Glendale" commitment is for.
IMO, it is in the League's interest not to over inflate the price. Any new owner is going to have to absorb several years of losses and invest even more in building / rebuilding the market. No sense in further burdening the new owner with additional debt.
I think the difference with this one is there is no bonds involved, so watchdog groups like GWI can't interfere for the most part. I could be totally wrong though, I've stopped watching this whole debacle, and just going to let whatever happens run its course. We all know the team can't stay in limbo forever.
I think the difference with this one is there is no bonds involved, so watchdog groups like GWI can't interfere for the most part. I could be totally wrong though, I've stopped watching this whole debacle, and just going to let whatever happens run its course. We all know the team can't stay in limbo forever.
We don't know what the details of the deal are. There may still be a parking rights or arena management funny money deal where the city commits to overpay the new owner for something.
I think the difference with this one is there is no bonds involved, so watchdog groups like GWI can't interfere for the most part. I could be totally wrong though, I've stopped watching this whole debacle, and just going to let whatever happens run its course. We all know the team can't stay in limbo forever.
We do not know that. No one knows what this involves and it appears that they say it is close but if it doesn't work out then Reinsdorf is there and if that doesn't work out they can sell to relocate. Duh.
We do not know that. No one knows what this involves and it appears that they say it is close but if it doesn't work out then Reinsdorf is there and if that doesn't work out they can sell to relocate. Duh.
So it is imminently two weeks away, seriously.
- I guess you missed the part where I said I could be totally wrong.
We don't know what the details of the deal are. There may still be a parking rights or arena management funny money deal where the city commits to overpay the new owner for something.
Indeed. From the article:
The deal being hatched with Jamison could include some rebates and a fund to help cover the team’s financial losses. The Coyotes lose $20 million to $25 million annually.
I suspect that the NHL is not giving out a President's Weekend Rebate Offer, so that leaves . . . the CoG. Not sure if I believe any of this, but the "rebate" part is the most believable based on the structure of past deals.
Unless they're buying the team to immediately relocate it, they're going to have to engage Glendale on a new lease. The "extendable AMUL" cripples a new owners ability to complete multi-year agreements for broadcast, sponsorship, etc. As such, we can throw this latest news of an "imminent" deal into the pile next to all the other deals that were going to be finalized in two weeks.
Once the Glendale contribution to the deal is noticed, approved on by City Council, and survived review by Goldwater, then the deal will be imminent.
Getting to this point has been done numerous times. It's pretty easy actually. It's the Glendale step that has caused all the deals to fall apart. We'll see how far they can get this time.
Still dont understand why the good citizens and hockey fans of Atlanta werent treated to same preferential level of treatment.
I think it was because they were effectively evicted.
Quote:
Originally Posted by Joey Jr Shabadoo
Wasn't Hulsizer this close too?
No. He was much closer. He was crappy faxed letter close.
Quote:
Originally Posted by Ludwig Fell Down
Not only imminent, but . . . serious.
I do have to ask, is "serious" the new "imminent"?
Seriously.
Quote:
Originally Posted by LeftCoast
We don't know what the details of the deal are. There may still be a parking rights or arena management funny money deal where the city commits to overpay the new owner for something.
Before you sign on the dotted line please ensure the following is in place.
1) 15K STH
2) 3-5 year commitments from said ticket holders
3) Real NHL ticket prices - $60 - $70 average per ticket
Failure to complete the above points could very well result in your bank account depleting faster than you say "I love Hockey".
proceed with caution kind sir.
P.S. you might want to give the mayor of Glendale a quick call.... guaranteed she's sitting by the phone as we speak.
Wow, I don't even think the Suns or teams like the Bruins, Kings or Predators get this.....so does that mean that they're potential failures too?
Again, the Suns, don't even have a 60-70 dollar average and you're suggesting charging higher prices than a team that's been there since 1970?
Still though, I wonder why the CoG would agree to this?
Are they ok with holding the team until Seattle (or QC) has an arena ready?
Perhaps there's some agreement that if Season ticket sales improve to a certain level then the team can't be moved. I mean utimately the CoG has probably gotten to the point where they have few options, so at least someone who will buy the team and give it another shot in Phoenix is the best case scenario at this stage.
A source told KING5 Sports Monday night that Greg Jamison, a former San Jose Sharks executive and part owner, had reached an agreement in principle with the NHL to buy the team and keep it in Arizona.
"We are the owner of the team, and thus should know if and when we have a deal to sell the team," NHL Deputy Commissioner Bill Daly told KING 5 Tuesday.
"I have unequivocally denied (several times) that we have a deal with Jamison, (much less that the Board has approved him)," said Daly. "I hope it gets done with Jamison, but there is a long way between here and there."
Pretty sure they wouldn't. You think attendance is bad right now? Try selling tickets to a team that everyone knows is moving in a year or two.
That'll be the thing, keeping that potentiality under wraps. Probably even a clause in a sales agreement to cover that, saying that it can't be leaked that there is a potential the team will be relocated in a couple of Seasons. Of course though, lots of people could potentially speculate that that will happen, but hey, they can do that regardless.
That'll be the thing, keeping that potentiality under wraps. Probably even a clause in a sales agreement to cover that, saying that it can't be leaked that there is a potential the team will be relocated in a couple of Seasons. Of course though, lots of people could potentially speculate that that will happen, but hey, they can do that regardless.
I think for a while there, Nashville, had it written in their lease, that if the average attendance was not at a certain amount, they could break their lease. I would assume something like wise would come out of the papers Jamison would sign.
I've said it before: the only way the teams stays in Phoenix is if Reinsdorf buys it.
I don't believe in white knight-types like IEH, Hulsizer and Jamison.
I don't think the buyer is even that relevant. The way the team stays is Glendale navigating the Gift Clause and Goldwater to pump the concessions/subsidies into the team that it needs to attract a buyer.
To date, they have not found a way to do it and that is the primary reason the franchise remains unsold.
- I guess you missed the part where I said I could be totally wrong.
