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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.

Part VIII: Phoenix Coyotes Post-bankruptcy

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Old
06-07-2010, 09:33 PM
  #51
Fugu
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Originally Posted by Wolvesfan View Post
How does the NHL make that determination? Not sure. I could guess that they would have to show the ability to be able to get cash from lines of credit, other loans, etc.
How do you establish that you can? At some point, you need to have assets and some level of liquidity. You probably need to provide the league with documents indicating you are worthy.

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If you can raise $200 million and show you can raise another $100 million over the next 5 years to cover any losses, I am sure they would sell you the Yotes. Question is, can you raise that kind of money?
Well..... [checks bank account, calls personal accountants..... oh wait].

I've purchased a few houses. The banks make you go through some exercise where you list your assets, incomes and expenses though. I think I had to provide tax returns too, and my bank account numbers. Hmmm.


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Look at the Stars situation. Do you really think Modano is worth hundreds of millions? I doubt it.
Actually, no, I do not. Modano took a pretty big bath a couple years ago by trusting his financial advisor, iirc. Let me know when Modano manages to attain a significant stake in the Stars.

 
Old
06-07-2010, 10:11 PM
  #52
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Originally Posted by Fugu View Post
I think it's far easier to question a significant amount of wealth than to assume it's there.

I'd prefer if someone did come up with some indication that these guys have 'hundreds of millions of dollars' in net worth.

People assumed Boots had a lot of money too. I guess he did, but it wasn't his own.



The greater point is that without something that does show there's a substantial net worth, it's rather pointless to write up paragraphs about what it can be. I'd like proof that it is, not for someone to prove the hypothesis is indeed false. There's nothing to back up the hypothesis much either.
Like I said, I have no idea whether or not they do or don't have the money, but there's as much evidence that they do have the money as there is that they don't. Basically, not a lot either way.

My point was in response to a poster who consistenly insists that there's no way they can have the money, which can't be supported by anything to date.

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Old
06-07-2010, 10:27 PM
  #53
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Originally Posted by MarkMM View Post
Like I said, I have no idea whether or not they do or don't have the money, but there's as much evidence that they do have the money as there is that they don't. Basically, not a lot either way.

My point was in response to a poster who consistenly insists that there's no way they can have the money, which can't be supported by anything to date.
If they had as much money as some people seem to claim, financing would not be an issue imo. Here's what Daryl Jones yesterday to the Winnipeg Sun:

Quote:
“It’s hard to gauge the probability of this deal closing. One thing that everyone has to be realistic about is there has been a great deal of financial turmoil in the world over the last 45 days, which is going to make it harder for us or any group to close this transaction though we do remain optimistic and feel good about our chances.”
Link:

http://slam.canoe.ca/Slam/Hockey/NHL.../14287406.html

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06-07-2010, 10:44 PM
  #54
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Originally Posted by Fugu View Post
How do you establish that you can? At some point, you need to have assets and some level of liquidity. You probably need to provide the league with documents indicating you are worthy.



Well..... [checks bank account, calls personal accountants..... oh wait].

I've purchased a few houses. The banks make you go through some exercise where you list your assets, incomes and expenses though. I think I had to provide tax returns too, and my bank account numbers. Hmmm.




Actually, no, I do not. Modano took a pretty big bath a couple years ago by trusting his financial advisor, iirc. Let me know when Modano manages to attain a significant stake in the Stars.
No one was talking significant stake. You said how can you buy an NHL team. I told you you how. Modano is leading a group. It doesn't say he is putting in any kind of stake. You could do the same thing!! I am scooping the world here - FUGU is the third party interested in buying the Yotes!!!

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06-07-2010, 11:17 PM
  #55
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Thanks. What about the other way around? Might Coyotes fans park at the UOP parking lots if they set up cheaper parking for Jobing events than Jobing and Westgate? If so, I suppose that might erode parking revenue within the CFD.
Not sure how it's set up, but I'm sure there's some type of cooperative agreement -- as opposed to an uncooperative agreement -- between the COG (which built Jobing) and the Arizona Sports and Tourism Authority (which built Cardinals stadium).

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06-07-2010, 11:22 PM
  #56
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Originally Posted by RR View Post
Not sure how it's set up, but I'm sure there's some type of cooperative agreement -- as opposed to an uncooperative agreement -- between the COG (which built Jobing) and the Arizona Sports and Tourism Authority (which built Cardinals stadium).
I pay for parking for football games when I park at Westgate. It was at the insistence of Glendale that they Coyotes didn't charge for parking.

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06-07-2010, 11:35 PM
  #57
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The area around Jobbing.com and UOP is one huge, mega parking lot. I suppose they will try to shut down most of the lots and direct fans to a pay lot. I'm not sure if fans paying $15 for a ticket will appreciate paying $10 or $20 for parking, though. It's also possible, private land owners near the arena could rent out parking spots at a discount.

http://maps.google.com/maps?hl=en&tab=wl

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06-08-2010, 12:29 AM
  #58
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Originally Posted by GHOSTofMAROONSroad View Post
The area around Jobbing.com and UOP is one huge, mega parking lot. I suppose they will try to shut down most of the lots and direct fans to a pay lot. I'm not sure if fans paying $15 for a ticket will appreciate paying $10 or $20 for parking, though. It's also possible, private land owners near the arena could rent out parking spots at a discount.

http://maps.google.com/maps?hl=en&tab=wl

GHOST
They already shut down the UOP lots for Coyotes games. They have these new-fangled gizmos called fences, gates and locks.

And it is illegal to park in undesignated lots in the COG for arena and stadium events. It's also illegal for homeowners to charge to park on their property. And Glendale Police will not allow event traffic to reach University of Phoenix Stadium through local neighborhoods.

I know some want to wiggle out of this notion that the majority of event-goers are going to have to suck it up and pay for parking, but there simply aren't other feasible parking options around the arena and stadium.

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06-08-2010, 12:33 AM
  #59
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Originally Posted by RR View Post
They already shut down the UOP lots for Coyotes games. They have these new-fangled gizmos called fences, gates and locks.

And it is illegal to park in undesignated lots in the COG for arena and stadium events. It's also illegal for homeowners to charge to park on their property. And Glendale Police will not allow event traffic to reach University of Phoenix Stadium through local neighborhoods.

I know some want to wiggle out of this notion that the majority of event-goers are going to have to suck it up and pay for parking, but there simply aren't other feasible parking options around the arena and stadium.
I was just thinking outloud. If you say so, that's good enough for me.

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06-08-2010, 12:51 AM
  #60
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Coyotes looking to rally hard-core fans to hearing

From the Phoenix Business Journal:

Quote:
The Phoenix Coyotes are looking to rally their hard-core fans to show up at Tuesday’s Glendale City Council hearing.

The council will vote on a new lease deal with Ice Edge Holdings, which wants to buy the Coyotes from the National Hockey League and keep the team in Glendale...


The council meeting will start at 7 p.m. Tuesday.

The NHL has given Glendale until the end of the year to find a new buyer to keep the team in Arizona. Otherwise, the NHL will sell the team to a Canadian buyer that likely would move it to Winnipeg, Manitoba.
If anyone can't make it to the hearing, the Winnipeg Free Press will have the hearing streamed live with a live blog also here:

http://www.winnipegfreepress.com/bre...-95809734.html

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06-08-2010, 01:01 AM
  #61
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Quote:
Originally Posted by GHOSTofMAROONSroad View Post
The area around Jobbing.com and UOP is one huge, mega parking lot. I suppose they will try to shut down most of the lots and direct fans to a pay lot. I'm not sure if fans paying $15 for a ticket will appreciate paying $10 or $20 for parking, though. It's also possible, private land owners near the arena could rent out parking spots at a discount.

http://maps.google.com/maps?hl=en&tab=wl

GHOST
Reinsdorf OUT!

http://www.azcentral.com/sports/coyotes/articles/2010/06/07/20100607jerry-reinsdorf-phoenix-coyotes.html


Last edited by RR: 06-08-2010 at 01:11 AM.
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Old
06-08-2010, 01:08 AM
  #62
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Is this legit?

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Old
06-08-2010, 01:11 AM
  #63
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wow Im surprised by that. Wonder what that means...

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Old
06-08-2010, 01:11 AM
  #64
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A group headed Jerry Reinsdorf has withdrawn from efforts to purchase the Phoenix Coyotes, a move that leaves Ice Edge Holdings as the last potential buyer that would keep the NHL team in Arizona.

Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, issued a statement Monday night saying "it was time to move on."
http://www.azcentral.com/sports/coyo...x-coyotes.html

Until September, Mr. Reinsdorf.

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Old
06-08-2010, 01:33 AM
  #65
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if anyone is keeping track....i believe:

reinsdorf has now been in 3 times and out 4 times.
ice edge have been out 3 times and in 4 times.

i guess glendale better hope that they get their financing.....or the mystery group steps out from behind the shadows.

that will make for a nervous 10 days, with ice edge themselves saying they dont have a handle on their ability to secure the money....if both are out, would glendale continue looking until christmas or cut their losses before june 30?


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06-08-2010, 01:40 AM
  #66
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if anyone is keeping track....i believe:

reinsdorf has now been in 3 times and out 4 times.

ice edge have been out 3 times and in 4 times.

i guess glendale better hope that they get their financing.....or the mystery group steps out from behind the shadows.

that will make for a nervous 10 days, with ice edge themselves saying they dont have a handle on their ability to secure the money....

if both are out, would glendale continue looking until christmas or cut their losses before june 30?
10 days? I've been a nervous ****ing wreck for the last year!

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06-08-2010, 02:02 AM
  #67
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Tsn: Reinsdorf Group Ends Coyotes Pursuit, Ice Edge Remains

TSN via AP:

Quote:
PHOENIX -- A group headed Jerry Reinsdorf has withdrawn from efforts to purchase the Phoenix Coyotes, a move that leaves Ice Edge Holdings as the last potential buyer that would keep the NHL team in Arizona.

Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, issued a statement Monday night saying "it was time to move on."

The Reinsdorf group once was the front-runner to buy the team but had fallen out of favour in recent weeks while Glendale officials worked out a memorandum of understanding with Ice Edge, a group of Canadian and American investors.

The Glendale city council is to vote Tuesday night on that memorandum, which gives Ice Edge exclusive negotiating rights for 60 days.

A new lease for the Coyotes to play at Jobing.com Arena is a necessary step before Ice Edge can proceed to try to purchase the team from the NHL.
Link:

http://tsn.ca/nhl/story/?id=323935

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06-08-2010, 02:12 AM
  #68
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10 days? I've been a nervous ****ing wreck for the last year!
i kind of wish i hadnt met you on this forum....before i came here i assumed that nobody cared about the coyotes and it wasnt hurting anyone to hope they come back....now i feel like a bad guy for hoping they do.

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06-08-2010, 02:21 AM
  #69
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i kind of wish i hadnt met you on this forum....before i came here i assumed that nobody cared about the coyotes and it wasnt hurting anyone to hope they come back....now i feel like a bad guy for hoping they do.
There are obviously hockey fans in Phoenix and other areas, just not enough of them. Don't feel like a bad guy for wanting your team back. I've been to Phoenix several times and hockey isn't really on the radar at all there. The NHL can't supply an NHL team for every tiny market in the USA to please individual fans with $15 tickets. Hockey is part of Winnipeg's culture, not Phoenix's. That's a huge difference. If they are true hockey fans, they can get their fix via the new media.

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06-08-2010, 02:52 AM
  #70
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He could be back IN after IEH is OUT, no? That's been par for the course so far.

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06-08-2010, 04:18 AM
  #71
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Originally Posted by GHOSTofMAROONSroad View Post
He could be back IN after IEH is OUT, no? That's been par for the course so far.

GHOST
Yeah I can see that too. The quote from jones about the turmoil in the financial world over the last 45 days is a bit ominous IMO, I've been wondering how any deal like this could get done in a credit-adverse environment. I have no clue as to how much they need to finance, but the terms can't be gettin any more lenient from the banks over the past two months. Maybe jr knows this, knows they can't get a deal done, and then is lef as cog's only option where he can extract additional sweeteners...

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06-08-2010, 04:21 AM
  #72
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Originally Posted by peter sullivan View Post
i kind of wish i hadnt met you on this forum....before i came here i assumed that nobody cared about the coyotes and it wasnt hurting anyone to hope they come back....now i feel like a bad guy for hoping they do.
Appreciate that. And don't feel bad. It's all part of living and dying for the games we love. And you are obviously much like me...unlike some on here who in moments like this can't help but getting in a shot or two.

But as my favorite 6th century philosopher said when his death was deemed imminent: "I'm not dead yet. I think I want to go for a walk."


Last edited by RR: 06-08-2010 at 04:27 AM.
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06-08-2010, 06:38 AM
  #73
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with JR out the circus act continues haha
Wouldnt shock me if he came back into the picture with a real low ball bid if/when the IEH bid falls appart.
But he has also said he really has no interest in owning the team so maybe he really is done.
Only time will tell

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06-08-2010, 07:58 AM
  #74
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Originally Posted by RR View Post
Appreciate that. And don't feel bad. It's all part of living and dying for the games we love. And you are obviously much like me...unlike some on here who in moments like this can't help but getting in a shot or two.

But as my favorite 6th century philosopher said when his death was deemed imminent: "I'm not dead yet. I think I want to go for a walk."


I believe the same philosopher once also said, 'it's merely a flesh wound!' Which is what Bettman has been saying about Phoenix for a while.

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06-08-2010, 08:07 AM
  #75
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Originally Posted by peter sullivan View Post
i kind of wish i hadnt met you on this forum....before i came here i assumed that nobody cared about the coyotes and it wasnt hurting anyone to hope they come back....now i feel like a bad guy for hoping they do.
Yes peter i rue the day i got to know RR and Art (and several others on this board) through their postings and obvious passion for their team....up to that point i was pretty stoked about getting the Yotes back to the Peg

mod delete


although it has been rumored Reinsdorf has been out in the past is this the first time he actually issued a statement saying he was out?

this deal has had so many twists and turns i will believe he is out when either IEH closes the deal or the team relocates.....it could still be some nice gamesmanship by Mr Reinsdorf but for the life of me based on his MOU i could never get my head around JR's buy and hold play for the team (that's just me i suppose)

should be interesting return visit to council for IEH after JR's announcement monday........a few weeks ago they were the ugly red headed stepchild that got treated like the weekly trash (a brilliant move by council looking back).....i assume there will be a different tune played tonight......perhaps some dim lights....candles.....flowers....IEH you beautiful beast.....how could we have been so wrong......we have your table for one at the dance right this way......a bottle of our best champagne is waiting for you......honey it was just a fling......she doesn't mean anything to me


Last edited by LadyStanley: 06-08-2010 at 09:39 AM. Reason: qdp
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