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troutman · 04-27-2011, 10:59 AM

NHL, Hulsizer tweak deal to purchase Coyotes

http://www.theglobeandmail.com/sport...rticle2000136/

While no one involved in the talks was willing to divulge any details, it appears the changes involve Hulsizer increasing the amount of money he and his partners will put into the purchase and the NHL reducing its asking price of $170-million (all currency U.S.) or defer payment of the full price. In turn, this would allow the suburban city of Glendale to reduce the amount of the $116-million municipal bond sale that is to provide Hulsizer with much of the purchase price, perhaps by as much as half, to less than $60-million.

One source said it could only be “a few days” before the success or failure of the latest 11th-hour attempt to prevent the Coyotes from moving to Winnipeg will be known.

However, a lawyer for the Goldwater Institute, a privately-funded government watchdog group, said that unless the revised deal addresses the institute’s main concerns it will not back off from its promise to block the bond sale in court.

“If they are going to get significantly more private financing and they are going to restructure the [management] fees, we would have to re-examine our position.”

04-27-2011, 10:59 AM	#1696
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	NHL, Hulsizer tweak deal to purchase Coyotes http://www.theglobeandmail.com/sport...rticle2000136/ While no one involved in the talks was willing to divulge any details, it appears the changes involve Hulsizer increasing the amount of money he and his partners will put into the purchase and the NHL reducing its asking price of $170-million (all currency U.S.) or defer payment of the full price. In turn, this would allow the suburban city of Glendale to reduce the amount of the $116-million municipal bond sale that is to provide Hulsizer with much of the purchase price, perhaps by as much as half, to less than $60-million. One source said it could only be “a few days” before the success or failure of the latest 11th-hour attempt to prevent the Coyotes from moving to Winnipeg will be known. However, a lawyer for the Goldwater Institute, a privately-funded government watchdog group, said that unless the revised deal addresses the institute’s main concerns it will not back off from its promise to block the bond sale in court. “If they are going to get significantly more private financing and they are going to restructure the [management] fees, we would have to re-examine our position.”