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Ownership Cluster**** Thread: This is the last one, Really!

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Old
09-06-2012, 01:23 PM
  #876
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Not the real news I'm looking for.

Just another ******** day with the same incompetence going around.

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09-07-2012, 12:12 PM
  #877
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I still think somebody needs to drag the NHL, GJ, CoG(all of them), GMDM, and Shane Doan into a conference room somewhere and get all the paperwork signed. This needs to end now!

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09-07-2012, 12:46 PM
  #878
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Originally Posted by AZflyingPuck View Post
I still think somebody needs to drag the NHL, GJ, CoG(all of them), GMDM, and Shane Doan into a conference room somewhere and get all the paperwork signed. This needs to end now!
Though i am naive to the situation due to the fact that following it as closely as some of you do stresses me out, i would take a guess that if it weren't for the pending lockout, this deal would be done. It sounds to me as if everything is done, except the City of Glendale wants to make a few changes to the lease agreement to protect themselves from a lockout. If i am correct (which i don't know if i am) i would hope that they have one last serious talk and come to agreement on this last little hurdle. I'm sure both sides want this to be over and done with.

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09-07-2012, 12:53 PM
  #879
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Originally Posted by rabbit3119 View Post
Though i am naive to the situation due to the fact that following it as closely as some of you do stresses me out, i would take a guess that if it weren't for the pending lockout, this deal would be done. It sounds to me as if everything is done, except the City of Glendale wants to make a few changes to the lease agreement to protect themselves from a lockout. If i am correct (which i don't know if i am) i would hope that they have one last serious talk and come to agreement on this last little hurdle. I'm sure both sides want this to be over and done with.
I wish I could agree with your take, but it seems to be more of blame game stuff going on. Last I remembered, it was up to the NHL to complete the sale to GJ before the lease gets signed. Still waiting for the NHL to make it move here.

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09-07-2012, 01:30 PM
  #880
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I wish I could agree with your take, but it seems to be more of blame game stuff going on. Last I remembered, it was up to the NHL to complete the sale to GJ before the lease gets signed. Still waiting for the NHL to make it move here.
From what Doan said the NHL has already agreed and the money is in escrow and the last hurdle is the lease agreement being amended. Once that is completed and the lease agreement gets signed it's a done deal. CoG stated that they won't sign the Arena lease deal until Jamison buys the team and Jamison says that he won't buy the team until the Arena Lease is signed. That's why the money is sitting in escrow. The CoG wants to amend the lease with the threat of a lock out by the other owners!

If Jamison wants to be part of the CBA negotiations he better hurry and buy the team...

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09-07-2012, 01:35 PM
  #881
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It makes sense for the COG to finally CYA. I think they should just ad an amendment that the money paid to GJ is lower if there is a lockout or even a prorated price for lost games. Makes sense to me.

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09-07-2012, 04:37 PM
  #882
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It makes sense for the COG to finally CYA. I think they should just ad an amendment that the money paid to GJ is lower if there is a lockout or even a prorated price for lost games. Makes sense to me.
It seems a reasonable request to make and a relatively quick resolution is possible, but I can also see where the city would somehow screw it up. Or maybe Jamison would rigidly insist that the CBA is beyond his control and that the city should honor the agreement approved by the council. Which would leave us stranded again in ownership hell and would thus be completely par for the course.

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09-09-2012, 03:15 AM
  #883
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Originally Posted by doaner View Post
It makes sense for the COG to finally CYA. I think they should just ad an amendment that the money paid to GJ is lower if there is a lockout or even a prorated price for lost games. Makes sense to me.
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Originally Posted by MP View Post
It seems a reasonable request to make and a relatively quick resolution is possible, but I can also see where the city would somehow screw it up. Or maybe Jamison would rigidly insist that the CBA is beyond his control and that the city should honor the agreement approved by the council. Which would leave us stranded again in ownership hell and would thus be completely par for the course.
I don't think that it's clear that the modifications to the lease being requested by the COG are just related to the lockout. The interim city manager (Skeete) has expressed concern about an inability to pay the AMF if the sales tax increase is overturned, and that the lease might need to be changed accordingly. Until more is known about the COG's position in negotiations, and how the sales tax increase relates to their decision about the lease, I think it will be difficult to know how likely Jamison and the COG are to agree on a revised lease. Also, it's not clear whether the COG might decide that they can't sign the lease until they are assured of increased revenue from the sales tax. This is a larger issue than the Coyotes. Skeete and the COG council have discussed major problems raising funds through bond issues. If they are rebuffed in their efforts to raise funds through the sales tax, I expect that the bond market will see them as a very high risk. Skeete has noted that they are having a difficult time raising money on the bond market to fund their obligations.

Here are a couple of articles providing some further background that I think is relevant.

http://www.azcentral.com/community/g...lications.html

http://www.azcentral.com/community/g...ease-ends.html

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09-09-2012, 12:04 PM
  #884
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I like how there is NEVER a plan B until plan A is all shot to Hell and dying.

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09-09-2012, 06:05 PM
  #885
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Originally Posted by Whileee View Post
I don't think that it's clear that the modifications to the lease being requested by the COG are just related to the lockout. The interim city manager (Skeete) has expressed concern about an inability to pay the AMF if the sales tax increase is overturned, and that the lease might need to be changed accordingly. Until more is known about the COG's position in negotiations, and how the sales tax increase relates to their decision about the lease, I think it will be difficult to know how likely Jamison and the COG are to agree on a revised lease. Also, it's not clear whether the COG might decide that they can't sign the lease until they are assured of increased revenue from the sales tax. This is a larger issue than the Coyotes. Skeete and the COG council have discussed major problems raising funds through bond issues. If they are rebuffed in their efforts to raise funds through the sales tax, I expect that the bond market will see them as a very high risk. Skeete has noted that they are having a difficult time raising money on the bond market to fund their obligations.

Here are a couple of articles providing some further background that I think is relevant.

http://www.azcentral.com/community/g...lications.html

http://www.azcentral.com/community/g...ease-ends.html
Perfect summary of it, Whileee.

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Old
09-10-2012, 09:38 AM
  #886
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Well, one side of this disaster is actually very, very busy. You can see construction hard at work on the new arena, via a webcam mounted on the current arena.

http://m.ville.quebec.qc.ca/iphone/w...hitheatre.aspx

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09-10-2012, 12:11 PM
  #887
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Would like to keep the politics not directly tied to Glendale out of this thread if possible. Want to avoid this



Last edited by Naurutger: 09-10-2012 at 12:13 PM. Reason: Cant find a great picture.
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09-10-2012, 12:52 PM
  #888
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Would like to keep the politics not directly tied to Glendale out of this thread if possible. Want to avoid this


Hey, that looks like MY kids. Haha

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09-10-2012, 05:51 PM
  #889
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Glendale leaders will discuss life without sales-tax hike

Quote:
The council is set to meet 1:30 p.m. Wednesday....

...City Attorney Craig Tindall has argued the initiative is incapable of reversing the sales-tax increase but Skeete said he must prepare for the worst.

At the Wednesday workshop, Skeete said he plans to describe potential cuts and scenarios should the city lose out on the more than $20 million it's projected to receive in additional sales-tax hauls this year....

...The NHL Board of Governors, made up of owners and executives, is set to meet later this week and could vote on Jamison's bid for the team.
http://www.azcentral.com/community/g...#ixzz266st6qdt

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Old
09-10-2012, 06:07 PM
  #890
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I was expecting a lockout of some duration long or short, but after reading the nice letter I got today from Mike Nealy...I'm still expecting a lockout.

I just have to decide if I want to take the 2% interest check each month or let it ride with the 5% Coyote cash. I remember the last lockout I went with the Coyote cash.

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09-11-2012, 09:35 AM
  #891
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I was expecting a lockout of some duration long or short, but after reading the nice letter I got today from Mike Nealy...I'm still expecting a lockout.

I just have to decide if I want to take the 2% interest check each month or let it ride with the 5% Coyote cash. I remember the last lockout I went with the Coyote cash.
Can you enlighten me as to what this means?

I'm assuming you've paid for your season tickets in advance. You have a choice between receiving an interest cheque every month equal to 2% of what you paid for your ST........ or getting 5% each month of Coyotes cash...... is that some kind of currency only used at Jobbing or when purchase Yotes merchandise?

I'm not from the area some I'm curious as to how it works for you guys.

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09-11-2012, 10:46 AM
  #892
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http://www.bizjournals.com/phoenix/m...ix.html?page=2

Tribe could enter picture in Phoenix Coyotes deal

Quote:
One of those sources, who asked not to be identified but has knowledge of the Coyotes' situation, said the O’odham tribe could play an important financial role in getting a Jamison deal done.

However, others familiar with the deal say the Arizona tribe is either not involved with Jamison or talk of their involvement is unconfirmed or may involve a sponsorship deal rather than ownership stake.
Think Mike is off his rocker because I have heard this last part to be true:
Quote:
It’s unclear whether the National Hockey League would ever allow a Native American tribe with casinos to own part of a franchise or if there would a creative way such as sponsorships and naming

Previous ownership bids for the Coyotes have explored possible partnerships with Arizona tribes but faced resistance from the NHL.
Think its just a hit piece because I have heard the NHL does not want to be associated with gambling. Not sure if I can find an official source for my statements just what I have heard. Sponsorships are another matter, can you imagine a Glendale Foe having its name across their stadium while the matter is in court?

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09-11-2012, 10:48 AM
  #893
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They've broken ground in Quebec City on a new arena which fully under construction as we speak.

In the next hour, or so, Hansen will he holding a press conference to announce an agreement with the City of Seattle on the construction of a new arena.

In Glendale they tweak. Tweak. Or maybe more like think about possibly setting a time soon to potentially discuss the possibility of maybe doing some tweaking in the future.

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09-11-2012, 11:16 AM
  #894
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They've broken ground in Quebec City on a new arena which fully under construction as we speak.

In the next hour, or so, Hansen will he holding a press conference to announce an agreement with the City of Seattle on the construction of a new arena.

In Glendale they tweak. Tweak. Or maybe more like think about possibly setting a time soon to potentially discuss the possibility of maybe doing some tweaking in the future.
Not to comeoff as a dick here but it doesn't matter to me about who is doing what with new arena progress. For all we know if the team gets relocated the team could end up in Kansas City or in Las Vagas.

Who knows?? Maybe San Diego decides it wants to bring in more pro sports teams into downtown by building both a football stadium and an arena at the same time. Maybe Salt Lake City wants in on the action as haveing another tenent besides the Jazz.

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09-11-2012, 11:30 AM
  #895
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More a statement about the mind numbingly glacial pace of our situation. Not that it hasn't already been overstated.

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09-11-2012, 12:03 PM
  #896
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http://www.bizjournals.com/phoenix/m...ix.html?page=2

Tribe could enter picture in Phoenix Coyotes deal



Think Mike is off his rocker because I have heard this last part to be true:


Think its just a hit piece because I have heard the NHL does not want to be associated with gambling. Not sure if I can find an official source for my statements just what I have heard. Sponsorships are another matter, can you imagine a Glendale Foe having its name across their stadium while the matter is in court?
I agree. The piece is bizarre and unhelpful.

Imagine the irony - a naming / sponsorship agreement with the Tohono O'odham Nation for the Glendale-owned Jobing.com arena, while the two parties are trying to tear each other apart in court.

I think that the problem for Sunnucks is that he keeps listening to whispers in his ear from the IEH guys, and then puts the stuff in writing. Note how he puts in a plug at the end for the IEH involvement in Jamison's investment group, while Jamison is studiously avoiding releasing any information about his investors.

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09-11-2012, 12:10 PM
  #897
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So Horatio Skeete, a person who is less qualified and probably makes less money than the most junior person on my staff, is holding up the deal because of the potential loss of sales tax revenue...even though legal counsel has said that it's not possible?!?! We now know why we don't have a signed agreement - Horatio Skeete. Who put this buffoon in his interim position? The mayor? Is she just trying to sabotage the deal?

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09-11-2012, 12:47 PM
  #898
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Yet we don't know for sure if Jamison is the real deal or that having a new CBA that benefits the owners more is a condition of completing the sale for that matter.

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09-11-2012, 12:48 PM
  #899
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So Horatio Skeete, a person who is less qualified and probably makes less money than the most junior person on my staff, is holding up the deal because of the potential loss of sales tax revenue...even though legal counsel has said that it's not possible?!?! We now know why we don't have a signed agreement - Horatio Skeete. Who put this buffoon in his interim position? The mayor? Is she just trying to sabotage the deal?
I wouldn't be so sure, unless you have a very highly paid staff. The previous City Manager (Ed Beasley) for Glendale was making >$225k in salary and benefits.

Legal council (Tindall) has misfired before, so it is probably prudent of Horatio to look at all options. After all, he's the guy staring down the barrel of a pretty awful financial situation, with bond markets closing off the tap and making it difficult for Glendale to meet its obligations. He is also trying to maintain his position in the face of an upcoming election which could bring in a new set of bosses that oppose the deal, and will hold him responsible for this in the future.

Moreover, we don't know what the final agreement looked like (no specification of performance requirements), and it's not clear what revisions Skeete is looking for. Perhaps he wants to ensure that Glendale doesn't pay out $17 million as an arena management fee without contingency for altering that based on the duration of the lockout. It is possible that Jamison is being unreasonable on this, leaving Skeete in a very difficult position as a civil servant.

Finally, I would say that the fault lies more with Skeete's predecessor (Beasley), the NHL and the string of ownership hopefuls (including Jamison). They all have had ample time to complete a deal, and failure to do so is their fault. If Jamison had his act together, he could have closed a deal with Glendale months before the budget crisis hit and the Coyotes deal got linked with the sales tax increase. Skeete and Glendale were all set to go with a deal with Jamison more than a year ago. Sadly, Jamison's delays have put the deal into much more tricky terrain.

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09-11-2012, 01:03 PM
  #900
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Mike Suck-nicks is now relegated to using "un named sources"? just sad and desperate for the Biz Journal to remain relevant.

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