Quote:
Originally Posted by troutman
Glendale City councillors can be sued personally too. This could get real nasty.
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It can't really get nasty. The team will be in Winnipeg before the middle of next week if this thing gets off the ground. I don't see that as a probable outcome.
From what I'm hearing, the NHL is trying to find two or three investors to purchase the $116 million in bonds at the current interest rate (8%). If/when Goldwater backs down from their position that will get much easier (and the interest rate may even drop).
However, I'm also hearing that there may be investors interested either way (Daly is going hard on this) and once the bonds are purchased the lawsuit is meaningless unless Glendale decides to alter it to collect the extra interest they will have to pay. I don't think that they'll do that as they're already involved in one lawsuit with Goldwater and don't want another. Nor do they want to potentially expose the illegality of their deal and perhaps risk blowing the whole thing up.