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Greg Jamison to purchase the Phoenix Coyotes?

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05-07-2012, 01:58 AM
  #1
eddiing
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Greg Jamison to purchase the Phoenix Coyotes?

http://tsn.ca/nhl/story/?id=395274

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05-07-2012, 02:08 AM
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Channing Tatum
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man this is a lot of work to trade doan, larsson, mike smith, vrbata, and a re-signed whitney to the sharks for petrecki, doherty, and handuz

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05-07-2012, 02:42 AM
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Bizz06
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their source is the Phoenix Business Journal, who has been wrong on several occasions when it comes to the Coyotes sale before

if their tentative deal is anything like the rumored deals Ive been seeing with Glendale paying Jamison $17MM for up to 20 years to "manage the arena", you can expect Goldwater to come in and disrupt it yet again

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05-07-2012, 03:40 AM
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Quote:
Originally Posted by urbanxstereo View Post
man this is a lot of work to trade doan, larsson, mike smith, vrbata, and a re-signed whitney to the sharks for petrecki, doherty, and handuz
I wouldn't really want Vrbata. I would take Hanzal, Korpikoski, and Brule though.

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05-07-2012, 04:01 AM
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Hanzal, Korpikoski and OEL...after stripping team of parts, then relocate team to Kansas city...

this would be the definition of buy high sell low...haha


(lurking phoenix fans: this is only in jest....)

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05-07-2012, 09:48 AM
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this is great news for the yotes if true.

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05-07-2012, 10:50 AM
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Does Jamison have to remove his minority interest in the sharks in this case? I would assume so.

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05-07-2012, 11:00 AM
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Does Jamison have to remove his minority interest in the sharks in this case? I would assume so.
He already did as far as i know.

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05-07-2012, 11:00 AM
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Awww man, I was hoping they'd move to Seattle

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05-07-2012, 11:43 AM
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Awww man, I was hoping they'd move to Seattle
Lol. Me too. Would be nice to have a home team in the same division. I would have got to watch the Sharks that way!

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05-07-2012, 12:20 PM
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Originally Posted by TexasShark View Post
Does Jamison have to remove his minority interest in the sharks in this case? I would assume so.
I thought the other owners already "bought out" Jamison. It seemed to explain the Sharks spending about $2.3m less than the cap this season.

Well, technically, the STH's and the variable price ticketing / artificial brand inflation probably paid for it. Thanks guys!

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05-07-2012, 12:27 PM
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I forgot - why did Jamison leave the Sharks ownership?

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05-07-2012, 12:45 PM
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Originally Posted by Gilligans Island View Post
I forgot - why did Jamison leave the Sharks ownership?
AFAIK, he had to in order to pursue the Coyotes endeavor.

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05-07-2012, 12:45 PM
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Originally Posted by Gilligans Island View Post
I forgot - why did Jamison leave the Sharks ownership?
To "spend more time with his family."

Which, apparently, now means his family is Arizona coyotes. Definitely a human-animal hybrid type situation.

I don't think the Goldwater Institute will be pleased.

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05-07-2012, 01:08 PM
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Quote:
Originally Posted by Linkster View Post
I thought the other owners already "bought out" Jamison. It seemed to explain the Sharks spending about $2.3m less than the cap this season.

Well, technically, the STH's and the variable price ticketing / artificial brand inflation probably paid for it. Thanks guys!
Not sure that it is accomplished yet. Bettman does allow time for owners in that situation.

There are a whole bunch of rules regarding minority owners and percentages of ownership. A minority holder who has only a small percentage can be involved in multiple ownerships. I am not sure on Jamison's percentage of the Sharks and he was definitely only a minority holder.

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05-07-2012, 01:11 PM
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http://hfboards.hockeysfuture.com/fo...play.php?f=124

Follow on Business of Hockey for lots of details, links, updates. (There are more than half a million posts on this topic.)

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05-07-2012, 01:11 PM
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HockeyAndTheSox
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Quote:
Originally Posted by Bizz06 View Post
their source is the Phoenix Business Journal, who has been wrong on several occasions when it comes to the Coyotes sale before

if their tentative deal is anything like the rumored deals Ive been seeing with Glendale paying Jamison $17MM for up to 20 years to "manage the arena", you can expect Goldwater to come in and disrupt it yet again
Goldwater won't have a leg to stand on. The Arena Management Fee is 17 million.

Glendale has already been paying the NHL 25 million a year to manage the arena and cover losses.

How are they going to justify suing when they left the 2 payments of 25 million alone?

And if you were more involved with the scenario you'd realize how much of a puppet the Goldwater Institute is.

Barry Goldwater is rolling in his grave at today's version of the Goldwater Institute.

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05-07-2012, 01:28 PM
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Gilligans Island
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Quote:
Originally Posted by Led Zappa View Post
AFAIK, he had to in order to pursue the Coyotes endeavor.
Quote:
Originally Posted by Linkster View Post
To "spend more time with his family."

Which, apparently, now means his family is Arizona coyotes. Definitely a human-animal hybrid type situation.

I don't think the Goldwater Institute will be pleased.
Of course, he had to relinquish his Sharks stake to go after the Coyotes. That much I gathered.

So, there wasn't any falling out with the other Sharks owners?

Odd, I assume he just wanted a greater share of ownership and the other Sharks owners weren't willing to sell their stakes. That's the only logical reason I can think of. He already was the leader of the ownership group anyhow. Bit strange.

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05-07-2012, 01:30 PM
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SJeasy
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Originally Posted by Gilligans Island View Post
Of course, he had to relinquish his Sharks stake to go after the Coyotes. That much I gathered.

So, there wasn't any falling out with the other Sharks owners?

Odd, I assume he just wanted a greater share of ownership and the other Sharks owners weren't willing to sell their stakes. That's the only logical reason I can think of. He already was the leader of the ownership group anyhow. Bit strange.
He could have been cashing out. I am sure his share increased substantially in value from the time of his initial buy in. He is up there in years. Plus, as one potential purchaser of another team said, it is more lucrative to buy low and sell high. That is exactly what GJ is doing.

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05-07-2012, 01:32 PM
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Gilligans Island
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He could have been cashing out. I am sure his share increased substantially in value from the time of his initial buy in. He is up there in years. Plus, as one potential purchaser of another team said, it is more lucrative to buy low and sell high. That is exactly what GJ is doing.
From an investment standpoint, that makes sense.

I guess I naively thought owners were like fans and cared/rooted for the teams they owned.

All in all, good for Phoenix. I would have hated seeing them go to Quebec.

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05-07-2012, 01:35 PM
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Originally Posted by Gilligans Island View Post
From an investment standpoint, that makes sense.

I guess I naively thought owners were like fans and cared/rooted for the teams they owned.

All in all, good for Phoenix. I would have hated seeing them go to Quebec.
Before the Sharks, GJ managed the Indiana Pacers basketball team. There is some team loyalty but it is far more a business proposition for GJ. I suspect GJ is somewhat revered in sports/entertainment management circles.

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05-07-2012, 02:54 PM
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Originally Posted by Gilligans Island View Post
Of course, he had to relinquish his Sharks stake to go after the Coyotes. That much I gathered.

So, there wasn't any falling out with the other Sharks owners?

Odd, I assume he just wanted a greater share of ownership and the other Sharks owners weren't willing to sell their stakes. That's the only logical reason I can think of. He already was the leader of the ownership group anyhow. Bit strange.
Jamison announced the resignation on September 1, 2010, as a "stepping away" from his CEO duties. But he still retained his role as the Sharks' Governor to the NHL, plus his seat on the League’s Executive Committee, and remained president of the Sharks Foundation.

From Pollak's September 1, 2010 story: "On the hockey side, Jamison has worked closely with GM Doug Wilson — approving major trades and setting the team's annual payroll."

At that time, Jamison said on Comcast's "Chronicle Live":

"It's one of those decisions that I've been thinking about for a while. I had a conversation with a couple of the other owners about it and just felt like it really was the time for me to step back... I'm not retiring. I'm kind of taking a break and trying to decide what's next and where do I go from here... I don’t know what the future holds. I love professional sports. That could be part of the future down the road. There could be something that comes along at a collegiate level -- teaching or what have you... I think the league is headed in the right direction. I think for all the individual teams there will probably be some improvements in the CBA, but I also think that its something that I would enjoy working on. If that can stay in the cards I would continue to pursue that..." ( http://m.sportsbusinessdaily.com/Dai...arks-SVSE.aspx )

On September 2, Pollak added some details:

"Jamison ruled out health issues or the need to spend more time with his family -- 'I spend time with my family now,' he said -- as the reasons behind the move, which takes effect Oct. 1. Instead, he explained, the timing of his decision has more to do with the fact he turned 60 on June 15...

"'This idea of stepping away and really reflecting a little bit, I'm actually looking forward to it,' Jamison said of his plan to take a year or so off. 'I've been working 38 years and very rarely have had any break in 38 years. '...I'm looking forward to not doing anything. Will I be able to do that forever? Of course not. Sixty is a lot younger than it used to be'." (original story locked behind the Merc's firewall; partial text at http://www.sportsnet.ca/hockey/2010/..._greg_jamison/ )

But Pollak last year called Jamison's departure "sudden":

"Even after Jamison's sudden departure as president and CEO of the Sharks on Sept. 1, 2010, he retained his spot on the NHL board. But when Jamison emerged this summer as the leader of a group attempting to purchase the Coyotes, he had to surrender his place at the table." 12/6/11 (original story locked behind the Merc's firewall; full text at http://www.newsorganizer.com/article...31f6eabe2cdd2/ )

With hindsight, Jamison's move from the Sharks to the Coyotes doesn't seem related to any internal strife and is pretty systematic and organized. Pollak calling it "sudden" was probably just related to the need by Jamison (and the League) to avoid mentioning any future NHL ownership plans.

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Old
05-07-2012, 03:41 PM
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LadyStanley
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Jamison stepped down from governorship about a year ago (when this first came forward).

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05-07-2012, 04:00 PM
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AIUI, GJ first stepped down from his position of CEO in 2010 (while still retaining his position as Governor and NHL Exec Committee member), then last year stepped down as Governor after his Phoenix efforts began, but still retains his small (~10% IIRC) stake in the Sharks.

The NHL Constitution allows an owner to own stakes in multiple clubs as long as he is not a "Controlling Owner" in any - defined as a 30+% stake or any control or management rights. If GJ acquires a 30% stake in the 'Yotes (unlikely) or assumes some management/operational position (likely) then he would have to divest himself of his Sharks stake. The League could either require it immediately as a precondition of approving the sale or, more likely, require him to divest of it within some reasonable (180 days) period of time.

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Old
05-07-2012, 05:22 PM
  #25
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What is GJ like management wise?

I know he will probably change the jerseys (they are 10 years old now) for extra revenue.

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