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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

Forbes: Phoenix Coyotes $170 Million Sale To Be Partially Funded By NHL

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Old
05-30-2013, 02:12 PM
  #26
Nordskull
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Quote:
Originally Posted by Brodie View Post
this reads to me as more proof that

a.) the NHL doesn't want to go to Quebec City if there is any way possible to avoid it
b.) the NHL has no confidence in the Phoenix market in the medium term, or else they wouldn't go interest free for the first 5 and they wouldn't offer equity

this team is basically destined for Seattle in 5 years even if the sale goes through

a.) ---> thats not a mystery
b.) ---> Agreed

Still, they need CoG to make the pass ... wit its broken stick.
But your analysis is OK.

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05-30-2013, 02:14 PM
  #27
rt
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I wonder what the schedule looks like for collecting the 120M in public money. I guess that's really the question here. How is that 120M broken down for CoG?

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05-30-2013, 02:15 PM
  #28
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Is Bettman trying to save face by not having hockey in Phoenix fail? Why is this still be funded? Who are they trying to prove something to? Or am I missing something?

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05-30-2013, 02:16 PM
  #29
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Quebec... city...
Don't worry it's just a matter of time before Quebec City gets a team again.

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05-30-2013, 02:18 PM
  #30
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give RSE 5 years to operate the team in Glendale, with the NHL paying their operating costs for free while paying down half the FIG debt and then invoke an out clause, convert the rest of the debt to equity and sell to Seattle (or Houston, et al) for a mint. Everyone makes their money back except Glendale.

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05-30-2013, 02:19 PM
  #31
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Quote:
Originally Posted by rt View Post
Any chance the NHL just wants to look like they're willing to do whatever it takes to save the Coyotes in Glendale when in reality they know with absolute certainty they'll never be able to squeeze 120M out of CoG and thus the whole deal is destined to fail. No actual risk if you know that the CoG won't play ball.

Is this "leak" of the details just further effort to control optics?
There is speculation that they did that already in the past with the $25 million demand while Mark Chipman sat in the NY offices. I've heard the NHL was fairly surprised that the COG agreed to it.

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05-30-2013, 02:23 PM
  #32
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Quote:
Originally Posted by QcBlizzard View Post
a.) ---> thats not a mystery
b.) ---> Agreed

Still, they need CoG to make the pass ... wit its broken stick.
But your analysis is OK.
oh, if I'm the CoG I'm looking right through this... it's the NHL getting Glendale to pay them for 5 more years of the status quo under the guise of a "sale". I'd reject it out of hand. But then, I would have taken Balsillie's cash in the first place and called it a night.

but what I think is is so telling is that the NHL would rather pay for a team in Glendale for 5 more years than go to QC right now.

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05-30-2013, 02:26 PM
  #33
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Quote:
Originally Posted by Brodie View Post
give RSE 5 years to operate the team in Glendale, with the NHL paying their operating costs for free while paying down half the FIG debt and then invoke an out clause, convert the rest of the debt to equity and sell to Seattle (or Houston, et al) for a mint. Everyone makes their money back except Glendale.
I sometimes wonder why I bother watching this racket of a league.

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05-30-2013, 02:30 PM
  #34
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Why would the CoG reject a five year deal with a reasonable management fee? The other option is no anchor tenant.

That aside, this is a very interesting development. There is no real security and none of the parties interested in the Coyotes - PHX, QC, SEA fans etc - got the answer they wanted to hear.

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05-30-2013, 02:31 PM
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With the NHL being so quiet, who would release this information and why?

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05-30-2013, 02:32 PM
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Originally Posted by viper0220 View Post
With the NHL being so quiet, who would release this information and why?
someone that's angry at them

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05-30-2013, 02:36 PM
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Quote:
Originally Posted by Brodie View Post
oh, if I'm the CoG I'm looking right through this... it's the NHL getting Glendale to pay them for 5 more years of the status quo under the guise of a "sale". I'd reject it out of hand. But then, I would have taken Balsillie's cash in the first place and called it a night.

but what I think is is so telling is that the NHL would rather pay for a team in Glendale for 5 more years than go to QC right now.
Yes but he's still puts the decision in Glendale's hands.

It's the fruit of a cold PR, TV, ego saving reflexion.

I cannot say I am that surprised, but Mr commish won't have everything he wants.

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05-30-2013, 02:41 PM
  #38
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Quote:
Originally Posted by viper0220 View Post
With the NHL being so quiet, who would release this information and why?
Probably the NHL themselves.

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05-30-2013, 02:43 PM
  #39
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Quote:
Originally Posted by rt View Post
Probably the NHL themselves.
why would they kill their own franchise values by putting it out there they're selling the Coyotes for $45 million plus a lot of debt that won't get paid back for a long time if ever?

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05-30-2013, 02:44 PM
  #40
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info on FIG

http://en.wikipedia.org/wiki/Fortress_Investment_Group

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05-30-2013, 02:45 PM
  #41
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Quote:
Originally Posted by viper0220 View Post
With the NHL being so quiet, who would release this information and why?
Quote:
A source close to the negotiations, who traded candor for anonymity
Who is delusional enough to be candid about that deal? A... clown, perhaps?

Edit: And is obsessed with wealth and being a high roller, which brings him to run to Forbes at the least sign of a potential deal

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05-30-2013, 02:46 PM
  #42
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Quote:
Originally Posted by rj View Post
why would they kill their own franchise values by putting it out there they're selling the Coyotes for $45 million plus a lot of debt that won't get paid back for a long time if ever?
Maybe they're hoping word gets out and CoG tells RSE to go away.

From there sell to PKP, get the team off their hands and no loan to worry about anymore.

Sorry George, the Bank of Bettman is closed!


Last edited by Mightygoose; 05-30-2013 at 02:47 PM.. Reason: Mind the gap
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05-30-2013, 02:47 PM
  #43
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Originally Posted by Mightygoose View Post
Maybe they're hoping word gets out and CoG tells RSE to go away.
Why would that matter? CoG would at some point have to be asked by RSE x amount of money whether this was released or not. Glendale just has to let their RFP on the AMF continue on having bids.

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05-30-2013, 02:48 PM
  #44
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Quote:
Originally Posted by Simerc View Post
Who is delusional enough to be candid about that deal? A... clown, perhaps?
More than likely somebody disgusted by the whole situation but not brave enough to resigns and go public.


Last edited by madhi19; 05-30-2013 at 02:57 PM..
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05-30-2013, 02:50 PM
  #45
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Quote:
Originally Posted by silvercanuck View Post
Why would the CoG reject a five year deal with a reasonable management fee? The other option is no anchor tenant.

That aside, this is a very interesting development. There is no real security and none of the parties interested in the Coyotes - PHX, QC, SEA fans etc - got the answer they wanted to hear.
They're not rejecting anything. Essentially what's going on is that the COG has said that they want to wait until they've recieved all of the RFP's before making a decision which is supposed to happen on June 25th. People around here feel that the situation needs to be taken care of well before that (as in this week).

As far as why they reject it? It's very possible (probable) that whatever RFP packages they recieve will equal or surpass whatever money they would make by having the Coyotes there. Hence why they want to wait.

Also, people are talking about the connection between the AMF and loan repaiment (FIG) but realistically there is none. All it says it that RSE will use the AMF money to pay off the loan and NOT that the COG is paying off the loan....

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05-30-2013, 02:57 PM
  #46
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Originally Posted by LPHabsFan View Post

Also, people are talking about the connection between the AMF and loan repaiment (FIG) but realistically there is none. All it says it that RSE will use the AMF money to pay off the loan and NOT that the COG is paying off the loan....

That's how I see it too. They are showing where they will have guaranteed revenue or subsidy streams.

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05-30-2013, 02:58 PM
  #47
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Originally Posted by LPHabsFan View Post
Also, people are talking about the connection between the AMF and loan repaiment (FIG) but realistically there is none. All it says it that RSE will use the AMF money to pay off the loan and NOT that the COG is paying off the loan....
Semantic that won't fly in court if challenged.

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05-30-2013, 02:59 PM
  #48
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Weird, the news has made it's way here (Quebecor's rivals.. 15h)
http://www.lapresse.ca/le-soleil/spo...7_accueil_POS3


But no words from any of Quebecor's sites/news.. yet. Normaly they are first on "coyote" news..

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05-30-2013, 02:59 PM
  #49
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Trent Hess 24 minutes ago
In what manner does RSE expect to collect the 120M from the CoG? Over five years? Ten? Fifteen?Called-out
commentPermalink Flag

Reply Author Mike Ozanian, Forbes Staff 14 minutes ago
Trent, Fortress puts in most of the $120 million when deal closes and all within 5 years.


So I understand that Fortress will give 120$M and RSE will pay back in 5 years?

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05-30-2013, 03:05 PM
  #50
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Quote:
Originally Posted by LPHabsFan View Post
Also, people are talking about the connection between the AMF and loan repaiment (FIG) but realistically there is none. All it says it that RSE will use the AMF money to pay off the loan and NOT that the COG is paying off the loan....
So then.... where is RSE getting the $6M from to pay back the loan to FIG... they are getting it from the CoG.

CoG ---> RSE ----> FIG

Yeah I know, but in a round about way, the CoG is paying off the loan.

But, for the CoG, the bigger issue is, how is RSE going to manage the arena if the money (assets to run the arena ) given to them goes to pay off the loan? From the CoG point of view it costs them $6M regardless of what RSE does with the money, but RSE will need to spend some money on managing the arena.

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