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Phoenix XCVII: Forget it, Jake. It's Glendale.

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Old
07-18-2013, 10:55 AM
  #926
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Originally Posted by CasualFan View Post
People seem to mistakenly believe this type of governance is limited to Glendale. It wouldn't be the first hospital to be impacted by arena/stadium debt: http://www.huffingtonpost.com/2012/0...n_1347733.html
And who was the city manager in Cincy who worked on this deal?

That would be John Shirey, current city manager in Sacramento working on their arena plan. Wonder how that will turn out?

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07-18-2013, 11:00 AM
  #927
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Thank you for the perspective.

Going to do some more research around to see what other cities have been impacted in this manner, I suspect that I might find a decent number of similar scenarios.

Might have an interesting affect on how I view things (and not just the Yotes saga)
To those who live in Az, this Glendale saga has me curious how Mesa is doing as I recall that city being shaken down by the Cubs owners for a new megamillions spring training ballpark in the last few years. That particular deal incensed me like crazy as a Cubs fan knowing that the owners, the Ricketts family, were funding political campaign attacks about earmarks at the same time their Cubs business was shaking down Mesa for a new taxpayer funded ballpark when the old one wasn't 20 years old. Thankfully the Ricketts family politics managed to head off a taxpayer funded Wrigley renovation where for once an owners threat to move is so obviously empty that taxpayers actually have leverage for once.

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07-18-2013, 11:06 AM
  #928
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Originally Posted by Tinalera View Post
Going to do some more research around to see what other cities have been impacted in this manner, I suspect that I might find a decent number of similar scenarios.
The State of Arizona sold its State Capitol & Supreme Court Buildings to Investors & then Leased them back, one remedy Glendale was contemplating and may yet have to execute if they find the promised revenue streams from the arena fall short. Their a ways yet from full-on meltdown & can "probably" cover the $15M over the full 5yrs. Much will indeed depend upon RSE, Global-Spectrum, how the market responds to their efforts obviously. Economists claim over 100 municipalities were or are close to declaring bankruptcy protection following Vallejo & Stockton CA, Jefferson County Alabama, Bridgeport CT & Harrisburg PA. Globally, Naples, Lisbon, Florence, Barcelona & Budapest & others close if not already there, Bonds reduced to junk status.

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07-18-2013, 11:11 AM
  #929
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Originally Posted by hisgirlfriday View Post
To those who live in Az, this Glendale saga has me curious how Mesa is doing as I recall that city being shaken down by the Cubs owners for a new megamillions spring training ballpark in the last few years. That particular deal incensed me like crazy as a Cubs fan knowing that the owners, the Ricketts family, were funding political campaign attacks about earmarks at the same time their Cubs business was shaking down Mesa for a new taxpayer funded ballpark when the old one wasn't 20 years old. Thankfully the Ricketts family politics managed to head off a taxpayer funded Wrigley renovation where for once an owners threat to move is so obviously empty that taxpayers actually have leverage for once.
Since you asked...

Mesa council may call for vote on bonds worth $147 mil

To quote:

"The anti-tax sentiment that was blamed for sinking 14 school-budget-override requests in Maricopa County last November did not surface in Mesa, where voters approved a $70 million park bond issue and $230 million in bonds for Mesa Public Schools.

Mayor Scott Smith said, however, that heís concerned about voter fatigue. It may seem to voters, he said, that they have kept pace with Mesaís capital needs when, in reality, they havenít."

Source: http://www.azcentral.com/community/m...onds-vote.html

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07-18-2013, 11:18 AM
  #930
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And who was the city manager in Cincy who worked on this deal? That would be John Shirey, current city manager in Sacramento working on their arena plan. Wonder how that will turn out?
Aint that just Grand? Just nuts. And of course Glendale has its equivalent in former City Manager Ed Beasley, now working for Colliers International as VP of Government Solutions. A step ahead of Shirey, Colliers & Fast Eddy your Go-To Guys when you the politico completely mess up, need some fast cash, off-loading government buildings, lease-backs.

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07-18-2013, 12:28 PM
  #931
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Or that Glendale somehow has the highest municipal debt burden in the nation. It's not like they're about to declare bankruptcy like Detroit.
Hey Glendale, your new Emergency Financial Manger is here. He'll be taking over all aspects of decision making.


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07-18-2013, 12:45 PM
  #932
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Hey Glendale, your new Emergency Financial Manger is here. He'll be taking over all aspects of decision making.
I don't think Ben Vereen is going to help any CF.

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07-18-2013, 01:08 PM
  #933
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I don't think Ben Vereen is going to help any CF.
.... Ya, Ben & Ed. Both Graduates of the Fred Astaire Academy of Tap
Dancing. Quite capable of playing the line with the Riverdance Troupe. Feet of Fire.

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07-18-2013, 01:20 PM
  #934
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From our friends at ESPN:

A skeptic's daily take on five things we learned from the 2012-13 NHL season:

4. Coyotes are ugly: The Phoenix Coyotes were saved, in a manner of speaking, at the 47th hour after Glendale council voted in favor of a resolution that would help new owners keep the team in Arizona. This was one of those stories that was my personal melatonin -- I got tired every time I heard it. Stay or go already! But the new ownership group, Renaissance Sports and Entertainment, has five years to make a go of it in Glendale ("Ladies and gentlemen, your Arizona Coyotes!") before they can pull the chute and bail for greener pastures. ("Ladies and gentlemen, your Hamilton Angry Timbits!") But don't color this mess cleaned up just yet. A Forbes report said the league was to lend the new buyers $85 million toward the purchase, and the loan doesn't need to be repaid for five years. Now, these things are never as simple as they seem on the surface, but if that's true ... what a crazy-arse debacle! The league is paying for this mistake in more ways than one.
Generous take: It's so nice that hockey will have stability in Arizona for five years.
Skeptic's take: It's brutal that the team will have its lame-duck status extended for five more years. Gary Bettman's Southern Expansion Hubris knows no limits.

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07-18-2013, 03:05 PM
  #935
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Skeptic's 2012-13 review: Howlin' for you

Source: http://espn.go.com/blog/nhl/post/_/i...howlin-for-you


Last edited by Llama19: 07-18-2013 at 03:06 PM. Reason: Deleted: sipowicz posted the same thing earlier, posting the link only
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Old
07-18-2013, 04:11 PM
  #936
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Speaking of NHL cities going bankrupt....Maybe Detroit is having to spend too much on its police department to protect all those suburbians going to the Joe?

No wonder they all come to Glendale

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Old
07-18-2013, 04:34 PM
  #937
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Originally Posted by sipowicz View Post
ESPN: A Forbes report said the league was to lend the new buyers $85 million toward the purchase, and the loan doesn't need to be repaid for five years before they can pull the chute and bail for greener pastures. Skeptic's take: It's brutal that the team will have its lame-duck status extended for five more years. Gary Bettman's Southern Expansion Hubris knows no limits.
Be really quite pleasant if ESPN got serious, did some real reporting on this story. Investigative. But instead we get a piece that looks like it was written for firebettman.com from some blogger... Matter of semantics I suppose, but technically the NHL isnt lending RSE $85M towards the purchase, their lending the $85M to cover costs & expenses moving forward.... secondly, theres no such thing as a Southern or Sunbelt Expansion Plan. Never was. Expansion based on check book marketing & pre-dating Bettmans appointment, overseeing the BOG's wishes in Atlanta & Tennessee etc, and a couple of wonky relo's. Forget the "hubris", if Bettmans feeling anything its likely embarrassment if he's being honest about it. Full on meltdowns in Florida X's 2, Nashville, Dallas, Phoenix & Atlanta. And now this deal. Which absolutely reeks. But hey. NHL. What it is.

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07-18-2013, 05:39 PM
  #938
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Via Paul Giblin's Twitter:

Anthony LeBlanc told me IceArizona is still on track to close the #Coyotes sale with the #NHL early next month.

Anthony LeBlanc told me he's focusing on #Coyotes marketing and that sort of thing; his IceArizona partners are wrapping up the sale.

Anthony LeBlanc said the #Coyotes' 2013-14 marketing campaign will highlight the team's new stability. Got a slogan idea?

Keep those #Coyotes 2013-14 slogan ideas coming. I'm sure LeBlanc, Gosbee, Dey and Jones are thankful for the free advice.

Source: https://twitter.com/PaulGiblinAriz

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07-18-2013, 05:55 PM
  #939
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Looks like we have a bit of a wait on the schedule.

http://hfboards.hockeysfuture.com/sh...5#post69362055

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07-18-2013, 06:18 PM
  #940
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Looks like we have a bit of a wait on the schedule.
http://hfboards.hockeysfuture.com/sh...5#post69362055
Location: Pac NW

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Old
07-18-2013, 06:27 PM
  #941
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Location: Pac NW

Yes, but I'm a Wings fan, and closer to Vancouver than Seattle as far as NHL options out here. Trust me, I don't have any skin in this game.

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07-18-2013, 06:34 PM
  #942
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Anthony LeBlanc said the #Coyotes' 2013-14 marketing campaign will highlight the team's new stability. Got a slogan idea?
Not really. "Hockey the Hard Way" seems to have run its course in light of how easily these guys seem to have acquired the franchise... if it closes. Had I personally been aware of just how little skin in the game one actually requires, mightve bid myself for Christs sake. Insane.... and I read somewhere that Coyotes merchandise, Hoodies & Jerseys etc, being blown out at wholesale prices in New Zealand, 3rd World Countries. Like the losers hats & t's to any given Superbowl or whatever. Are they re-branding, going full on Arizona Coyotes or do they stick with Phoenix? Though it may seem trite, facile, such matters are usually part n' parcel of any major transaction.

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07-18-2013, 07:10 PM
  #943
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Quote:
Originally Posted by Killion View Post
Be really quite pleasant if ESPN got serious, did some real reporting on this story. Investigative. But instead we get a piece that looks like it was written for firebettman.com from some blogger... Matter of semantics I suppose, but technically the NHL isnt lending RSE $85M towards the purchase, their lending the $85M to cover costs & expenses moving forward.... secondly, theres no such thing as a Southern or Sunbelt Expansion Plan. Never was. Expansion based on check book marketing & pre-dating Bettmans appointment, overseeing the BOG's wishes in Atlanta & Tennessee etc, and a couple of wonky relo's. Forget the "hubris", if Bettmans feeling anything its likely embarrassment if he's being honest about it. Full on meltdowns in Florida X's 2, Nashville, Dallas, Phoenix & Atlanta. And now this deal. Which absolutely reeks. But hey. NHL. What it is.
Actually it does cover the purchase because unless they backed off on the $170 million purchase price then at least $5 million has to come from the NHL since RSE only has $45 million plus Fortress' $120 million it adds up to $165 million.

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07-18-2013, 07:43 PM
  #944
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Actually it does cover the purchase because unless they backed off on the $170 million purchase price then at least $5 million has to come from the NHL since RSE only has $45 million plus Fortress' $120 million it adds up to $165 million.
Im glad you caught that, because I for one am confused. For starters, how is it that the price is still only $170M since 2011 even adding the $45M the COG contributed, then, deducting the $20M the league has so graciously decided to return to Glendale thats been sitting in escrow untouched since July 2012, wouldnt that at minimum add another $20M to the sale price?... and what of this $85M "loan"?. How does that work? I pay the NHL $170M, $48M of my own cash and $120M from Fortress, totalling $168M and then the league reimburses me, returns $85M? You break this thing down, just on the numbers alone, forget about the $15M from Glendale, you just bought a club for app $85M. $48M of your own money, owing Fortress app $37M, receiving $15M annually from Glendale, $20M+++ from the league in RS proceeds, maximum on the Development Fund, total portability by year 5. You sub-out the Arena Management Contract to Global-Spectrum, then blame them when revenues fall short, the NHL as its Sniders company "guilted" into lending you more & more money, advancing broadcasting fee's or whatever. And for $1M as a Minority Investor and owner of an NHL Club, its mine? No cash calls ever?

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07-18-2013, 09:24 PM
  #945
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Im glad you caught that, because I for one am confused. For starters, how is it that the price is still only $170M since 2011 even adding the $45M the COG contributed, then, deducting the $20M the league has so graciously decided to return to Glendale thats been sitting in escrow untouched since July 2012, wouldnt that at minimum add another $20M to the sale price?... and what of this $85M "loan"?. How does that work? I pay the NHL $170M, $48M of my own cash and $120M from Fortress, totalling $168M and then the league reimburses me, returns $85M? You break this thing down, just on the numbers alone, forget about the $15M from Glendale, you just bought a club for app $85M. $48M of your own money, owing Fortress app $37M, receiving $15M annually from Glendale, $20M+++ from the league in RS proceeds, maximum on the Development Fund, total portability by year 5. You sub-out the Arena Management Contract to Global-Spectrum, then blame them when revenues fall short, the NHL as its Sniders company "guilted" into lending you more & more money, advancing broadcasting fee's or whatever. And for $1M as a Minority Investor and owner of an NHL Club, its mine? No cash calls ever?
Killion, you might just have the next thread title...

Phoenix XCVIII: IA - No Cash Calls Ever?


Last edited by Llama19: 07-18-2013 at 09:30 PM. Reason: Added the question mark
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07-18-2013, 09:32 PM
  #946
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Any rumblings or word on the status of the referendum?

I put the over/under at 2,000 signatures, and I'm taking the under.

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Old
07-18-2013, 10:07 PM
  #947
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phoenix xcviii: Ia - no cash calls ever?
Phoenix XCVIII: 212-221-6375
Phoenix XCVIV: 623-930-2000

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Old
07-18-2013, 10:19 PM
  #948
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Phoenix XCVIII: 212-221-6375
Phoenix XCVIV: 623-930-2000
I see what you did there...

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07-18-2013, 10:25 PM
  #949
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Love my team go coyotes

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07-18-2013, 10:32 PM
  #950
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If Detroit gets ch. 9, that could set a dangerous precedent for which the likes of COG could follow and already have their arguments set.

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