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Part X: Phoenix Coyotes - Between Scylla and Charybdis

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Old
07-27-2010, 12:57 AM
  #26
kdb209
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Quote:
Originally Posted by Fugu View Post
I'd prefer a new thread and let that last abomination disappear.

It's just too late get creative with a thread name (one of your demands when the last one was started).
Well, at least I get to do another ...

Previously on Lost ...

05-05-2009 Balsillie puts in $212.5 mil offer for the Coyotes
05-07-2009 Balsillie/Phoenix part II
05-18-2009 Balsillie/Phoenix part III
05-22-2009 Balsillie/Phoenix part IV
06-03-2009 Balsillie/Phoenix part V
06-09-2009 Balsillie/Phoenix Part VI
06-12-2009 Balsillie/Phoenix Part VII: I'm just waitin' on a judge
06-16-2009 Balsillie/Phoenix Part VIII: It's dead, Jim
06-24-2009 Balsillie/Phoenix Part IX: 'Dorf on Hockey
07-25-2009 Phoenix bankruptcy/ownership Part X: The Truth? You Can't Handle The Truth!
08-03-2009 Phoenix bankruptcy/ownership Part XI: A Fistful of Dollars?
08-07-2009 Phoenix bankruptcy/ownership Part XII: For a Few Dollars More
08-12-2009 Phoenix bankruptcy/ownership Part XIII: The Good, The Bad, and The Ugly
08-21-2009 Phoenix bankruptcy/ownership Part XIV: The Wrath of Baum
08-27-2009 Phoenix bankruptcy/ownership Part XV - SITREP: SNAFU
09-02-2009 Phoenix bankruptcy/ownership Part XVI: Barbarian at the Gate
09-08-2009 Phoenix bankruptcy/ownership Part XVII: Wake Me Up When September Ends
09-10-2009 Phoenix bankruptcy/ownership Part XVIII: Is that a pale horse in the distance?
09-12-2009 Phoenix bankruptcy Part XIX: How I Learned to Stop Worrying and Love the Baum
09-21-2009 Phoenix Bankruptcy Part XX: There Will Be Baum
09-28-2009Phoenix Bankruptcy Part XXI: 2009 -- A Sports Odyssey
10-26-2009 Phoenix Bankruptcy Part XXII: Long and winding road

Followed up by the ever popular:

11-24-2009 Keeping up with potential owners for NHL Phoenix Coyotes (UPD: Ice Edge signs LOI)
03-14-2010 Part II. Potential owners of NHL's Phoenix Coyotes
03-26-2010 Part III. Prospective Owners - Phoenix Coyotes (UPD Lease vote 4/13; IEH signs MOU)
04-10-2010 Part IV Phoenix Coyotes post bankrtuptcy; UPD COG approves Reinsdorf MOU, not IEH MOU
05-02-2010 Part V Phoenix Coyotes post bankruptcy UPD Reinsdorf out? IEH back in? else Winnipeg?
05-11-2010 Part VI Phoenix Coyotes post bankruptcy
05-23-2010 Part VII Phoenix Coyotes post bankruptcy
06-07-2010 Part VIII Phoenix Coyotes post bankruptcy
06-22-2010 Part IX: Phoenix Coyotes Post-bankrtuptcy
07-26-2010 Part X: Phoenix Coyotes - Between Scylla and Charybdis

<insert thank you that "gratuitous comment about unimaginative thread naming" worked here>


Last edited by kdb209: 07-27-2010 at 05:16 PM.
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Old
07-27-2010, 12:59 AM
  #27
DouX
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They are just trying to keep this interesting, which it isn't, but seriously I bet we see another 10-15 twists and turns before this thing is finally figured out, and at least another few torturous months...**** this sucks.


Last edited by Fugu: 07-27-2010 at 08:30 AM. Reason: ...
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Old
07-27-2010, 01:03 AM
  #28
peter sullivan
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yeah, jones looks like a total clown now responding to that blog....he is so unbelievable unprofessional.

i guess all that crap about IEH being consulted in the firing of Moss was probably bogus as well.

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Old
07-27-2010, 01:52 AM
  #29
LadyStanley
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mirtle I can confirm the Ice Edge bid is having issues. More tomorrow [Tuesday] likely.


In that case, there may be more than a wire story coming.

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07-27-2010, 02:07 AM
  #30
Tommy Hawk
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Originally Posted by Jeffrey93 View Post
Daly's response is typical.

That guy really makes it hard to know if I came across both him and Bettman on the street...which one I'd smack first.
If you have two hands, use them both at the same time

Quote:
Originally Posted by kdb209 View Post
Mods - any chance of merging this in with / reopening the last chapter:

Part IX: Phoenix Coyotes Post-bankruptcy UPD: Pres Moss fired 6/30 with IEH input

Or at least renaming this thread:

- Part X
- Part IX S (9 1/2)
- Part IX S .... (9 5/6ths - since the last one went only to 847 posts ~= 5/6ths of 1000 - Roman numeral fractions are based on 1/12ths).

God knows why I know / remember Roman Numeral fractions.
For the same reason people know the words to the theme songs from Gilligan's Island

Quote:
Originally Posted by ATHF View Post
Show of hands...who didn't see this coming a mile away? These guys have made virtually every mistake that they could have made from day one, so it's not at all surprising that they did something similar in this instance by not providing the city with proper documentation of their financial information...

This has been an absolute gong show from day one and it's rather telling when people from both sides of the debate are feeling like they don't care anymore about what's going on and they just want it to be over. That being said, this seems like it's getting nearer to a conclusion and unfortunately for the Coyote fans it doesn't seem like it's going to be a good one unless there's a miracle tucked away somewhere...
Quote:
Originally Posted by peter sullivan View Post
yeah, jones looks like a total clown now responding to that blog....he is so unbelievable unprofessional.

i guess all that crap about IEH being consulted in the firing of Moss was probably bogus as well.
I have never seen two more unprofessional groups in CoG and IEH.

I would hate for the Yotes fans to lose their team but whoever voted these people as representatives of their city deserve what they are going to get.

Move the team and be done with the drama. Sell it for $200 mil then the additional money goes to the bankruptcy court which will give it to the CoG and they can use it to pay down their arena debt.

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Old
07-27-2010, 02:34 AM
  #31
NODLR
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Possibly related....
Quote:
Westgate office building in foreclosure
A Westgate City Center office building that has sat vacant for a year and a half in Glendale is facing foreclosure.

A notice of trustee sale was issued recently for the 40,000-square-foot building at 91st Avenue and Coyotes Boulevard.

Developers at the Ellman Cos. built the offices through a subsidiary, Westgate Garden Office I LLC, next to the company's outdoor shopping center and condominiums that surround University of Phoenix Stadium and Jobing.com Arena.

Read more: http://www.azcentral.com/business/re...#ixzz0urNSQ98e
Not to be confused with the Bidwill family problems.

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07-27-2010, 03:59 AM
  #32
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Well, if IEH fails once again, Glendale will go back one more time to Reinsdorf and if that doesn't work, the NHL will announce that they're taking bids to any ownership group whether the team stays in Glendale, AZ or relocates to another city. I expect bids from cities other than Winnipeg and Hamilton to start making presentations to buy and move the team with-in the United States.

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07-27-2010, 05:18 AM
  #33
Neil Patrick Harris
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Hard to believe it's already been over a year since this train started.

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Old
07-27-2010, 06:11 AM
  #34
Fourier
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How about calling the thread: Been there...Done that!

I have visions of watching a gerble on one of those little wheels. No matter how much the little critter spins that wheel, it ends up in exactly the same place.


Last edited by Fourier: 07-27-2010 at 04:49 PM.
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07-27-2010, 07:29 AM
  #35
King Woodballs
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Should have just sold the team to Chipman.
This is getting just plain sad now.
Everyone in this process looks like a tool

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07-27-2010, 07:32 AM
  #36
King Woodballs
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Originally Posted by kombayn View Post
Well, if IEH fails once again, Glendale will go back one more time to Reinsdorf and if that doesn't work, the NHL will announce that they're taking bids to any ownership group whether the team stays in Glendale, AZ or relocates to another city. I expect bids from cities other than Winnipeg and Hamilton to start making presentations to buy and move the team with-in the United States.
Well if that were the case why has no one showed up to buy this team in the nearly past year and a half?

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07-27-2010, 07:32 AM
  #37
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Quote from the article:


Quote:
Ice Edge spokesman Robert Johnson acknowledged the group has not begun arena lease talks with Glendale because it would be "putting the cart before the horse," since the group has not yet bought the team from the NHL.
Huh? Does that make sense to anyone?

Apparently all these potential buyers have been doing it wrong by trying to negotiate a lease with Glendale. According to IEH, you have to buy the team first and then try to negotiate a lease.

Any ounce of hope that these Ice Edge guys aren't a bunch of clowns has now officially evaporated. I thought they hired a PR firm to put an end to the unprofessionalism, refute the rumours and to control the message. That has to be the worst PR firm ever.


Last edited by CGG: 07-27-2010 at 08:35 AM.
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Old
07-27-2010, 07:48 AM
  #38
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Quote:
Originally Posted by CGG View Post
Quote from the article:




Huh? Does that make sense to anyone?
Has anything in this situation made sense? If they have not been negotiating a new lease for the past 6-7 weeks, what exactly have they been doing?

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07-27-2010, 08:11 AM
  #39
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Has anything in this situation made sense? If they have not been negotiating a new lease for the past 6-7 weeks, what exactly have they been doing?
Marmaduke marathon?

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07-27-2010, 08:17 AM
  #40
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Well if that were the case why has no one showed up to buy this team in the nearly past year and a half?
No link just my opinion, becauuse the team already has been ssold to TNSE if no local owner can be found.

I E will never get this team. How bad is that, Glendale states they haven't submiited enough documentation. I E responds, yes we have. Well guess what if the guy that owns the building says, you haven't given me enough proof. You haven't, you have to meet their terms in that situation.

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07-27-2010, 08:31 AM
  #41
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No link just my opinion, becauuse the team already has been sold to TNSE if no local owner can be found.

I E will never get this team. How bad is that, Glendale states they haven't submitted enough documentation. I E responds, yes we have. Well guess what if the guy that owns the building says, you haven't given me enough proof. You haven't, you have to meet their terms in that situation.
And who knows if CoG ever even told them the docs submitted weren't enough.

Mr. Toad's Wild Ride needs to stop. And if the NHL draws on the $25 mil, that could set off a whole other bunch of events.

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07-27-2010, 10:12 AM
  #42
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Originally Posted by Hockeyhopeful View Post
No link just my opinion, becauuse the team already has been ssold to TNSE if no local owner can be found.

I E will never get this team. How bad is that, Glendale states they haven't submiited enough documentation. I E responds, yes we have. Well guess what if the guy that owns the building says, you haven't given me enough proof. You haven't, you have to meet their terms in that situation.
Right. And if Glendale is not satisfied with the documentation, then imagine what the NHL and its Board of Governors will think about selling to an ownership group that doesn't have enough money and has agreed to a lease that has no provision for relocating the team if the finances don't work out? The NHL would be a glutton for punishment to willingly get into a situation that was a recipe for another bankruptcy.

If no other ownership group is around that intends to keep the team in Glendale, then I wonder what Glendale's next moves might be. They will desperately want to have the NHL unload the team before having to pay the $25 million to cover this year's losses.

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Old
07-27-2010, 10:22 AM
  #43
peter sullivan
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^ they have signed away that $25m....its gone unless they can find a buyer by christmas....that is a done deal for the NHL.



this quote could come back to haunt them...

How will the city recoup its money if no new buyer steps up?

"That is not the reality," said Lynch, who refused to entertain such a notion. "Owners are currently being pursued aggressively."

City Manager Ed Beasley said the city is on track to submit a recommended buyer or buyers to the NHL by June 30.

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07-27-2010, 10:24 AM
  #44
Tommy Hawk
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Quote:
Originally Posted by peter sullivan View Post
^ they have signed away that $25m....its gone unless they can find a buyer by christmas....that is a done deal for the NHL.



this quote could come back to haunt them...

How will the city recoup its money if no new buyer steps up?

"That is not the reality," said Lynch, who refused to entertain such a notion. "Owners are currently being pursued aggressively."

City Manager Ed Beasley said the city is on track to submit a recommended buyer or buyers to the NHL by June 30.
I guess Ed meant June 30 of some other year besides 2010.......

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07-27-2010, 10:49 AM
  #45
Killion
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Quote:
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They will desperately want to have the NHL unload the team before having to pay the $25 million to cover this year's losses.
It's a little late in the game for that don't you think?. Both the NHL & Glendale are committed to the December Deadline. This has yet to play itself out. As for IE, like you I'm not exactly shocked by this revelation. Five weeks on Frisoni goes public followed by a reverse osmosis statement from the PR spokesperson about horses & carts?!. This looks bad, really really bad, for all parties concerned.

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07-27-2010, 10:58 AM
  #46
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Quote:
Originally Posted by peter sullivan View Post
How will the city recoup its money if no new buyer steps up?

"That is not the reality," said Lynch, who refused to entertain such a notion. "Owners are currently being pursued aggressively."

City Manager Ed Beasley said the city is on track to submit a recommended buyer or buyers to the NHL by June 30.
So when they once again go crawling back to JR, he can say, "Ok, I'll buy the team, but I don't want to pay for this year's loses. That 25 Mil in escrow you were saving for the NHL, yeah, I'll take that. Either pay the NHL and have the team leave or pay me and I'll keep it here. Your choice."

What's he got to lose?

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Old
07-27-2010, 10:59 AM
  #47
LadyStanley
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Quote:
Originally Posted by King Woodballs View Post
Well if that were the case why has no one showed up to buy this team in the nearly past year and a half?
Quote:
Originally Posted by Hockeyhopeful View Post
No link just my opinion, becauuse the team already has been ssold to TNSE if no local owner can be found.
No. Because the NHL vehemently has said they are (only) looking for a local buyer.

Until 12/31/10, the league, COG and IEH, or other local group (did we ever did hear who those 3rd and 4th LOIs were from last summer?), can try to get a deal done. (But realistically, if there isn't a group coming forward by Halloween, I'll expect a relocation.)

January 1, 2011, if nothing is "done", the NHL can receive/review LOIs for relocation, including the offer said to be in their hands from TNSE. My guess is they'd love to do a deal by trade deadline (3/1), but it could stretch out until the end of the regular season. (I can imagine that each interested party would need to provide 50-60 "open" venue dates so the schedule maker can do his thing.)

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07-27-2010, 11:03 AM
  #48
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This event just shows that when this is all said and done, Bettman MUST be fired.

How long can it possibly take to sell this team? Seriously? I guess when you are trying to sell it to one of two groups that want to buy the team for basically free, it takes a long time. Meanwhile, this mess could have been over months ago if Bettman had just admitted he made a mistake in Glendale, and sold the team to the only people that have put money on the table ( TNSE ).

The question I also have is: IEH is quoted as saying that they won't negotiate a lease with the CoG until they own the team. So am I correct in assuming that the real holdup here is the NHL? They won't sell the team? Or will the NHL not sell the team until IEH gets a lease with the CoG?

Given this circular negotiating, how can this deal ever be made?

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Old
07-27-2010, 11:10 AM
  #49
LadyStanley
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Quote:
Originally Posted by cbcwpg View Post
This event just shows that when this is all said and done, Bettman MUST be fired.
Nope. The BOG directed Bettman to purchase (from bankruptcy) and sell the team (without a loss to league).

If John Q Billionaire owned the team, he could sell it at a market value that would ensure the team would not have debt to service (thereby lowering operating costs) so that a team could make $$ (with a good ice product). But by requiring a sale without a loss, it's harder to find a buyer.

(Besides, Bettman has kept owners franchise values increasing. Can't see them firing him for doing what they asked of him, and doing it "well".)

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07-27-2010, 11:23 AM
  #50
WJG
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No link just my opinion, becauuse the team already has been ssold to TNSE if no local owner can be found.
Agreed. I think there's an agreement that if relocation must occur and the team must be sold to out-of-town interests, it'll be to TNSE.

Here's relevant article from the Winnipeg Free Press on the subject a few months back:

Quote:
The NHL has told the City of Glendale to sell the Phoenix Coyotes to a buyer willing to keep them in Arizona by Dec. 31 or the team will be moved to Winnipeg.

True North Sports and Entertainment, a group led by Mark Chipman and David Thomson, have had the framework of a relocation deal in place with the league for some time, and is the third party the league is referring to in an agreement reached between the NHL and the city of Glendale on Friday.

A document sent by the league to the city of Glendale last week says the NHL has a bona-fide offer from a viable purchaser who would relocate the hockey team to another market for the 2010-11 season and contemplates that the owners (the NHL) would break even on their investment in the team through the end of the 2009-10 NHL season as well as the NHL potentially receiving a relocation fee.

*Updated on Saturday, May 22, 2010 at 7:04 PM CDT:
Adds confirmation that True North Sports and Entertainment is the "bona-fide" owner that the NHL has lined up.
http://www.winnipegfreepress.com/spe...-94666154.html

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