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Ownership Saga: Coyote's Renaissance (Read Post #1)

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05-25-2013, 06:46 PM
  #51
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Originally Posted by knowsthegame View Post
I have to disagree RT. I think it has been about finding a prospective owner that HAS THE MONEY!!
After all, the city of Glendale already gave Jameson a sweet deal to manage the arena with no involvement from Goldwater, which has not been in the picture for a long time.
The fact that the new Glendale council has put the arena management out for bid makes it legit. It's ALL about the money my friend.
This is no time for negativity - haven't you guys already had your fill of negativity?
Don't want all the naysayers to look bad when we have to say "we told you so" when this deal actually does get done.
What makes Renasaince Entertainment any different from Jamison Entertainment, at this point? Jamison had the NHLs approval just like Renasaince appears they are about to receive. Jamison couldn't scrape together enough dough to close the deals with 320m in free money on the table.

It's not negativity versus positive thinking. It's about trying to understand the situation and have a discussion about it.

If it were Gosbee minus the Ice Edge clowns, I'd be an extremely optimistic man right now. The only reason I can figure he's willing to tolerate the presence of these ****ing ****** bags is because he's more investor than he is actual buyer. A smaller stake than we'd all hope.

I don't think pointing out the history we've shared with IEH makes me negative. Ignoring it though, I think is a little dishonest.

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05-25-2013, 06:53 PM
  #52
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Originally Posted by XX View Post
The only way a deal gets done in time to save the team is if significant progress is made on Tuesday. It's possible, if all three parties give a little bit. The city has indicated that they can't give much, if any. Leblanc has said in the past directly that he needs a deal similar to the Jamison one, a deal that had far more than $15 million a year in the first five years. The league has never dropped the price and has no reason to do so. So you can see there are some significant obstacles in the way here.

It's entirely possible that Gosbee caves or finds a last minute source of funding, being eager to start managing the team. It's also possible the league takes a small haircut on the sale for the sake of it being over. The city, despite solid evidence that they cannot afford to go above $6m, may find some creative way to finance this that doesn't run afoul of GWI. All three parties could have a moment of zen and move quickly enough on this that the RFP issue and any internal deadline the NHL has is put to rest. We'd have a team, an owner, a GM and begin negotiations to retain Tippett. Sunny days.

It's possible. Likely? Depends on your mindset.
The NHL has never had to consider drastically reducing the asking price because they've never truly reached the end of the road. CoG continually bought them more time and the opportunity to escape having to really explore a reduced asking price. We may have reached the first actually pressure point for the NHL.

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05-25-2013, 07:01 PM
  #53
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Originally Posted by rt View Post
The NHL has never had to consider drastically reducing the asking price because they've never truly reached the end of the road. CoG continually bought them more time and the opportunity to escape having to really explore a reduced asking price. We may have reached the first actually pressure point for the NHL.
You're going to be disappointed if you expect a corporate entity to take a huge loss when they clearly don't have to. Hell, they will make money if they let the team move. Gobs of it. And the tipping point for a price cut was a long, long time ago. You don't whip out the cure-all 5 minutes before midnight. You and I both know that's not how the league rolls. They are pragmatic about this sort of thing. If they were remotely interested in a major price drop, they'd have done it already, and with a handpicked owner. You don't take a $50m+ loss for Ice Edge. There are a lot better options out there if the team was realistically priced. The fact that the league wants twice what the team is worth is why this circus continues to drag on and why we've had terrible options emerge to date.

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05-25-2013, 07:10 PM
  #54
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Originally Posted by knowsthegame View Post
After all, the city of Glendale already gave Jameson a sweet deal to manage the arena with no involvement from Goldwater, which has not been in the picture for a long time.
That's because the Jamison and Hulsizer deals were structured very differently. Hulsizer requested the bulk of the purchase price to be provided upfront by the city through bonds, using 'parking revenue' as a fictitious asset. It was a blatant subsidy, which was probably illegal.

The Jamison deal was much more straight forward. Goldwater would have had to prove that $ 15M for managing the arena and providing 41 guaranteed events per year was completely unreasonable. That's much more difficult to prove since there's really no competition for a similar bid. There just isn't any other business that can guarantee so many events with an average 75% capacity. And since there was no bond to issue, there was no potential bond investors for Goldwater to scare off with the threat of a lawsuit.

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Originally Posted by knowsthegame View Post
The fact that the new Glendale council has put the arena management out for bid makes it legit. It's ALL about the money my friend.
What does that even mean?

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Originally Posted by knowsthegame View Post
This is no time for negativity - haven't you guys already had your fill of negativity? Don't want all the naysayers to look bad when we have to say "we told you so" when this deal actually does get done.
You know, when after 4 years of debacles your only hope is the same clowns who utterly failed at purchasing the team since day 1, feeling so cocky about the situation makes you look bad.

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05-25-2013, 07:12 PM
  #55
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Originally Posted by rt View Post
The NHL has never had to consider drastically reducing the asking price because they've never truly reached the end of the road. CoG continually bought them more time and the opportunity to escape having to really explore a reduced asking price. We may have reached the first actually pressure point for the NHL.
True. My guess is the league could probably settle for their original purchase price, $ 143M. I can't see them being able to go below that and get approval from the BoG though.

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05-25-2013, 07:13 PM
  #56
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Originally Posted by OEL View Post
True. My guess is the league could probably settle for their original purchase price, $ 143M. I can't see them being able to go below that and get approval from the BoG though.
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First, Daly said the purchase price would be more than $150 million, corroborating an ESPN report from late March that claimed a group led by Canadian financier George Gosbee was looking to buy the team for $170 million.

Daly also confirmed the league was currently in discussions with the Gosbee group — a group that, according to Paul Gilbin of the Arizona Republic, includes three other business executives (Anthony LeBlanc, Avik Dey and Daryl Jones) working under the name Renaissance Sports and Entertainment.

“There’s no doubt we’re dealing with Mr. Gosbee and Mr. LeBlanc and trying to work through and get to a deal with them,” Daly told Sportsnet’s Hockey Central (by way of AZ Central). “But there are other interested people that we’re working with at the same time, as well.

“Nobody has exclusivity here.”

Gilbin reports the Gosbee-LeBlanc group was created for the purpose of buying the Coyotes, and has met “many times” at the Renaissance Phoenix Glendale Hotel & Spa (located next to Jobing.com Arena).

Hence the “Renaissance” name.

All that said, Daly was hesitant to describe the nature of talks or how far long — or far apart — they were in cementing a deal.

Daly said “there are no guarantees” the team would remain in Phoenix, and classified Glendale as a “big question mark.”
http://prohockeytalk.nbcsports.com/2...question-mark/

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05-25-2013, 07:18 PM
  #57
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Okeydokey. Well, unless Daly's bluffing, I'm pretty sure we're screwed then. I can't imagine anyone investing $ 150M+ on this team with a 5 year reloc clause and less than $ 10M in management fee. It just doesn't make any sense.

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05-25-2013, 07:25 PM
  #58
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Originally Posted by OEL View Post
Okeydokey. Well, unless Daly's bluffing, I'm pretty sure we're screwed then. I can't imagine anyone investing $ 150M+ on this team with a 5 year reloc clause and less than $ 10M in management fee. It just doesn't make any sense.
I consider Reinsdorf to be the only legitimate buyer this process has ever seen. He wanted absolutely nothing to do with anything over $90 million. It was all going to be creative financing that he wouldn't be on the hook for. Guarantees from the city they'd be able to cover the spread between what the team was selling for and what Reinsdorf knew it was worth. Five year out clause. Even Leblanc candidly admitted that the team is really only worth about $90 million, and that any potential owner is going to need a deal like Jamison to make it appetizing. Look at the comparables, and it's hard to say that they are wrong. The price has always been too high.

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05-25-2013, 08:39 PM
  #59
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Nordic will have to wait

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These developments thus confirm that several sources told me in recent days, the*NHL*will not return to Quebec in September.
http://translate.googleusercontent.c...eddb2OlrFyWLew

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05-25-2013, 09:44 PM
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Originally Posted by OEL View Post
You know, when after 4 years of debacles your only hope is the same clowns who utterly failed at purchasing the team since day 1, feeling so cocky about the situation makes you look bad.
You interpret feeling confident to feeling cocky.
If the deal does not closes, I will be disappointed.
If the deal closes, you will be the one that looks bad.
But then again, if you say I look bad, I guess I must.
You refer to the Renaissance group as a bunch of clowns. Gosbee is the major investor.
If you say Gosbee is a clown, I guess he must be.
I wouldn't say this makes you look bad, though.

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05-25-2013, 09:59 PM
  #61
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Gosbee is legit. It's the presence of the other idiots that has always made me very uneasy.

Also, Who gives a **** about looking bad? This is the Internet.

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05-25-2013, 10:02 PM
  #62
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Gosbee is legit. It's the presence of the other idiots that has always made me very uneasy.

Also, Who gives a **** about looking bad? This is the Internet.
Gosbee could not be more legit. I suspect he has Leblanc/Jones around primarily to run the errands and get him coffee. I am not overly concerned about their involvement.

I am also sure that Glendale's financial situation is not a mystery to them. Tuesday's opening of negotiations will not be the farce that the QC crowd expects(hopes) it will be.

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05-25-2013, 10:22 PM
  #63
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I am also sure that Glendale's financial situation is not a mystery to them. Tuesday's opening of negotiations will not be the farce that the QC crowd expects(hopes) it will be.
Quote:
Little leeway

Even if it says relatively confident that the Coyotes remain in the desert, the counselor wanted to remember that the City still has some room for maneuver in negotiations.

"We plan to grant $ 6 million in our budget group to manage the arena, even if there is room for discussion, I do not see how it could go much higher than $ 8 million. I feel that Mr. LeBlanc and its partners understand the urgency of the situation, "he said.

In addition to the mayor six councilors, it will take at least four out of seven votes in favor to close the deal.

"With the data as we know now, we would have three votes in favor, two against and two undecided. Anything can still move in the amounts traded, "said Mr. Sherwood.
Translated, but you get the point.

http://www.journaldequebec.com/2013/...gne-a-glendale

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05-25-2013, 10:33 PM
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Yup, Gosbee et al are familiar with the situation in Glendale and a negotiation will take place on Tuesday.

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05-25-2013, 11:07 PM
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Originally Posted by coyotes View Post
LeBlanc never stated he needs 14-15 million. That has been spun and taken out of context. When LeBlanc was first interviewed about this back in February, he never stated "I'm looking for 14-15 million per season." This is what was actually said

"We understand that there are some cash constraints, but at the same time, we can't do a deal that wouldn't be economically feasible for us," LeBlanc said. "It's a verbose way of saying, 'Look, we understand that it won't be the same deal, but we're trying to find a middle ground that would make sense for both sides.'"

http://www.usatoday.com/story/sports...itors/1912847/


Sorry but that doesn't sound like LeBlanc was demanding 15 million a year considering that's what Jamison got. LeBlanc knows Jamison was receiving 15 million per year so it makes little sense that he would ask for the same or similar amount based on his quote above. Based on that quote, it seems like LeBlanc understands he will have to compromise. And he said this back in February before any of these discussions started. And this is coming from LeBlanc himself....not Sherwood or any other third party source.

Furthermore, there is no proof that Glendale is going to offer 6 million. Just because Giblin wrote an article saying it takes 6 million to run the stadium, that doesn't mean Glendale is asking for that. People are assuming that Glendale is going to offer that based solely on that Giblin article. Giblin's article left out a lot of facts when coming up with that number. At best, you can state Giblin's article was incomplete. There are a lot of presumptions on the part of fans who read these articles and then interject their opinion as fact.

The only fact is none of us know what both parties want.
Thank you! You hit the nail square on the head. Like I have stated many times, all of us are assuming and none of us know what exactly is happening.

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05-26-2013, 12:14 AM
  #66
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The NHL said in the DM signing they intend to keep the team in Glendale. They had no reason to say anything if they were moving in two weeks and there was no chance of new ownership. Word is now out that they have a deal with Gosbee and he might be the only person so far that is willing to, and has the cash to purchase the team at a reasonable price, that is a first. I am sure he is fully aware of the COG situation and has plans on how to deal with that and make it work. There are only 30 guys in the club, so if you want in, you have to pay up. Owners buy teams for ego reasons more then economic reasons. Everything is negotiated and I have seen more deals cut at the last minute by being creative. I am not saying the purchase will go through, but I am saying the chances are way better then most on this board think.

Last note, I spoke to DM for a few minutes last week, met him accidentally. He could not have been more excited about the coyotes future, super upbeat. Maybe it was his deal a few days ago, and/or maybe something else.

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05-26-2013, 01:39 PM
  #67
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The Maloney signing really marginalized any conspiracy theories for me. The NHL would not have gone that far just to make their con that much more believable for one measily weekend.

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05-26-2013, 02:46 PM
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I could be wrong but I don't think Maloney would have let the NHL use him to pool the wool over our eyes either.

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05-26-2013, 03:35 PM
  #69
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I could be wrong but I don't think Maloney would have let the NHL use him to pool the wool over our eyes either.
It just doesn't make any sense for the NHL to take it that far.

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05-26-2013, 04:54 PM
  #70
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It just doesn't make any sense for the NHL to take it that far.
Who is trying to con anyone here? Maloney specifically said he'd like to stay with the franchise.

And this from Sarah:

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Based on interviews I’ve had with Maloney, it seemed clear that he wanted to remain the team’s GM regardless of where it plays in October. Obviously, he wants that to be in the Valley and is optimistic that’s still a real possibility. But it’s undeniable he has a passion — and strength — for this job seeing as how he’s been able to maneuver the last four years with very limited resources.
http://www.azcentral.com/insiders/sa...s-for-coyotes/

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05-26-2013, 05:02 PM
  #71
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I could be wrong but I don't think Maloney would have let the NHL use him to pool the wool over our eyes either.
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Who is trying to con anyone here? Maloney specifically said he'd like to stay with the franchise.

And this from Sarah:



http://www.azcentral.com/insiders/sa...s-for-coyotes/
Good find. Thanks. No open GM jobs and only 30 in the world. If you love the work, you take what you can get, be it in Phoenix or Quebec. There goes that false hope. Haha.

Thanks dream killer.

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05-26-2013, 06:34 PM
  #72
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Good find. Thanks. No open GM jobs and only 30 in the world. If you love the work, you take what you can get, be it in Phoenix or Quebec. There goes that false hope. Haha.

Thanks dream killer.
Not so fast. What makes you think the next owner of the Coyotes wants Maloney as GM and is willing to sign him long term?

There has to be an agreement in place already with the next owner, and that owner obviously like Maloney.

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05-26-2013, 06:41 PM
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Not so fast. What makes you think the next owner of the Coyotes wants Maloney as GM and is willing to sign him long term?

There has to be an agreement in place already with the next owner, and that owner obviously like Maloney.
Exactly. If I buy 170 mil asset or whatever it is, I will be picking my own GM etc.

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05-26-2013, 06:46 PM
  #74
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Not so fast. What makes you think the next owner of the Coyotes wants Maloney as GM and is willing to sign him long term?

There has to be an agreement in place already with the next owner, and that owner obviously like Maloney.
I think you misunderstood my post. Initially I had considered the suspicions that the NHL was merely going through the motions at this point so they can better control the optics of a relocation they've already decided on. To me that seemed a little far fetched considering they extended Maloney's contract a mere few days before they would need to make a relocation announcement if there were one coming.

That quote showing Maloney is happy regardless of where the franchise ends up shakes my fledgling confidence that this last ditch effort isn't just a ploy.

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05-26-2013, 07:26 PM
  #75
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There may have been no open GM positions at the moment but that means little to nothing. Teams are always willing to fire a coach or GM if they can acquire a better one. It happens in all sports. What Maloney has accomplished with this budget is simply miraculous. He is well respected in the league and if an extension wasn't achieved, there would have been several suitors.

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