The Ongoing Coyotes Sale Thread

[chanimal40]

Originally Posted by Parallex

The snide comments directed at the GWI that has resulted in snide comments directed back at the NHL.

Something definitely smells with this deal. Why does the public have to pay 100mill+ for some banker to purchase yotes.

If I go purchase a new car i don't ask the city to pay for 2/3. I get a loan.

Sure Glendale can be a great NHL city, but it hasn't proved it for 10years. Winterpeg is a proven NHL city. They backed their franchise but rising player salaries, Canadian dollar, and BOG did them in.

Different ball game now.

[GreenTeaFrapp]

Originally Posted by chanimal40

Winterpeg is a proven NHL city. They backed their franchise but rising player salaries, Canadian dollar, and BOG did them in.

More like an undersized rink and lack of fan support did them in.

[Daradon]

Originally Posted by GreenTeaFrapp

More like an undersized rink and lack of fan support did them in.

Naw, it had more to do with the dollar and how the league changed. There were still lots of small rinks in the NHL in 95. Heck the Panthers first rink was undersized but I'm sure it was ok for them as they were an important southern market. Warrerner was just talking today about Florida's first rink.

The Coyotes have lost money EVERY SINGLE YEAR since being moved in 95. I'm pretty sure even Winnipeg did better than that.

Would a healthy Phoenix team be the best thing? Sure it would. Is Winnipeg the perfect solution? No.

But there never will be a healthy Phoenix team. And Winnipeg is a better solution than the options the NHL has now. The NHL and hockey doesn't live in the world Bettman is painting. It lives in the real world.

[Northendzone]

$100 mill for 5,500 parking spots - man i thought parking in bankers hall was expensive.....

obviously this is a great deal for hulzier - if it goes thru.......

[taxbuster]

One of the things that everyone seems to be forgetting here: this is not a game of chicken.

GI doesn't "need" to do anything at this juncture. The CoG can put its bonds up for sale and collect what it can. The CoG and MH can sign their deal and MH can collect his $100 mil from the CoG. MH can pay the NHL. During all of this GI doesn't need to do a thing until everyone is committed.

THEN it can sue.

That is, of course, the worst-case scenario for all (except GI) involved. GI can let everyone make their deals and (in their view) break the law. They "need" to do nothing prior to that piece of alleged lawlessness. Then they jump. (Kinda like a cop driving behind you, watching.....waiting.....)

No-one (CoG, MH or NHL) really wants to commit until GI says that they won't sue.

It's a bit of a Mexican standoff, but eventually *someone* has to commit to *something* even if that something is actually nothing....

But GI can afford to wait. Like the cop.

[Mr.Coffee]

Strikes me as odd that the NHL won't call the GI's bluff and consummate the transaction if they're "so certain" and have "had 3 law firms" vet the legality of the transaction.

If nothing's wrong with it, do it. If something's wrong with it, then maybe GI is right, and the deal shouldn't go through?

Sitting around tying up legitimate offers, delaying a decision, worrying about stuff more or less just seems like an enormous waste of time. If you're right, you're right. If you're not sure... don't do it, find another transaction.

Done, end of story.

[TorqueDog]

Originally Posted by Mr.Coffee

Strikes me as odd that the NHL won't call the GI's bluff and consummate the transaction if they're "so certain" and have "had 3 law firms" vet the legality of the transaction.

If nothing's wrong with it, do it. If something's wrong with it, then maybe GI is right, and the deal shouldn't go through?

Sitting around tying up legitimate offers, delaying a decision, worrying about stuff more or less just seems like an enormous waste of time. If you're right, you're right. If you're not sure... don't do it, find another transaction.

Done, end of story.

The NHL is just the selling party of the team - Hulsizer and the CoG need to consummate the transaction, and the only way that happens is if the bonds get sold, which they aren't due to the threat of action by Goldwater.

Bettman wasn't making that up.

[Vulcan]

I guess what everyone is now waiting for is to see if the bonds sell.

If they don't it's over in Glendale, except for their lawsuits.

If they do sell and the GI sues, well does the NHL and Hulsizer want to proceed pending another court case. I think this would be the messiest result, good for lawyers but not good for the NHL and Bettman. As the saying goes, beware what you wish for, you might get it. He may heaven forbid, be wishing he either let Balsillie take the team or showed some leadership and sold out to Winnipeg a year ago. As some here would know, I'll have a schadenfreude moment thinking of Bettman.

[taxbuster]

Originally Posted by Vulcan

As some here would know, I'll have a schadenfreude moment thinking of Bettman.

Ah -- schadenfreude -- I love it when people use erudite words! (I also love Latin -- go figure -- they still taught that when I went to school.....)

[GreenLantern2814]

Based on everything that's transpired so far, it seems like Bettman is saying all the things he has to say now to whip up support for the team in the event that they make the playoffs. You can't sell playoff tickets if everyone knows the team isn't going to be there next season.

If Phoenix is eliminated from contention, they'll probably announce the move a few days out of the home finale to get some sort of 'farewell' sellout where everyone scoops up as much Coyotes merch as possible before it's defunct.

At least, I hope that's what happens. Either way, I hope this team is in Winnipeg next year. Though Ilya Bryzgalov doesn't like the cold, he might not re-up with the club, that could be a difficult situation...

[Plett25]

Originally Posted by Mr.Coffee

Strikes me as odd that the NHL won't call the GI's bluff and consummate the transaction if they're "so certain" and have "had 3 law firms" vet the legality of the transaction.

If Bettman is so certain the bonds are a good/safe/legal investment, why doesn't he buy the bonds? Or some of the savy NHL owners? Heck, why doesn't the NHL buy the bonds, and then after GWI doesn't sue (or sues and loses) the NHL can re-sell the bonds on the secondary market at a premium.

The NHL would be turning their $170 million "asset" into $70 million of cash and $100 million of bonds, then making a few million more on those bonds when they flip them next year.

[calgaryrocks]

Originally Posted by GreenLantern2814

Based on everything that's transpired so far, it seems like Bettman is saying all the things he has to say now to whip up support for the team in the event that they make the playoffs. You can't sell playoff tickets if everyone knows the team isn't going to be there next season.

If Phoenix is eliminated from contention, they'll probably announce the move a few days out of the home finale to get some sort of 'farewell' sellout where everyone scoops up as much Coyotes merch as possible before it's defunct.

At least, I hope that's what happens. Either way, I hope this team is in Winnipeg next year. Though Ilya Bryzgalov doesn't like the cold, he might not re-up with the club, that could be a difficult situation...

This makes sense. I hope they miss the playoffs for this reason. imagine if they went on a run to the cup final, would Bettman announce the move in the the playoffs at some point? I imagine it will come out on twitter or something like that before Bettman has a chance to announce it

[troutman]

NHLPA keeps distance from Coyotes crisis
http://www.theglobeandmail.com/sport...rticle1936671/

The NHL Players’ Association is fielding calls from players concerned about the Phoenix Coyotes crisis but is not planning to get involved yet.

“If I thought there was something the union should be doing which could affect a better result for everybody, I’m not unwilling to undertake that,” NHLPA executive director Donald Fehr said Wednesday. “This is a process in which the union is not essentially involved.”

Fehr, who has ties to the Phoenix area, does not want to see the Coyotes move. “It would be great if they could figure out a way to make it work on an economically viable basis,” he said.

At this point, though, he said it is a league matter even if the NHL has long maintained it is a “partner” with the players through the current collective agreement.

[troutman]

Winnipeg, by the the numbers
http://www.theglobeandmail.com/sport...rticle1933707/

A number of readers took issue with my comments in our Winnipeg discussion that I didn’t think the city’s corporate base was much bigger than it was 15 years ago or that the city was much wealthier.

Brent Bellamy is part of that corporate base. He argues Winnipeg may not be a Toronto, Montreal or Vancouver but it “is a far wealthier place than it was in the mid-1990s.” To bolster his argument, Mr. Bellamy sends along an interesting set of numbers:

The Jets and TV revenue
http://www.theglobeandmail.com/sport...rticle1934123/

Blogger Tyler Dellow points out I goofed on Monday when I mentioned the Canadian teams would not welcome the Phoenix Coyotes back to Winnipeg with open arms because the Canadian television money would eventually be split seven ways instead of six. That was true … in 1988. Since then, all NHL teams get an equal share of all broadcasting revenue, including Canadian television money.

[valo403]

Originally Posted by Plett25

If Bettman is so certain the bonds are a good/safe/legal investment, why doesn't he buy the bonds? Or some of the savy NHL owners? Heck, why doesn't the NHL buy the bonds, and then after GWI doesn't sue (or sues and loses) the NHL can re-sell the bonds on the secondary market at a premium.

The NHL would be turning their $170 million "asset" into $70 million of cash and $100 million of bonds, then making a few million more on those bonds when they flip them next year.

I'm not certain, but that seems like a scenario that would have some major insider trading complications.

[Plett25]

Originally Posted by valo403

I'm not certain, but that seems like a scenario that would have some major insider trading complications.

Not necessarily

Directors, Presidents, CEO's are allowed to buy and sell shares/bonds of their company as long as their transactions are based on public knowledge.

It is when they make investing decisions based on internal company information not available to shareholders or the general public that they go offside.

The public knows that CoG is issuing bonds, they know that GWI is threatening legal action and they know that the NHL has legal opinions that the transaction is legal.

Anyway, I really don't know, I'm not a law-talkin' guy.

[Resolute 14]

Globe writer defends Coyotes fans:

http://www.theglobeandmail.com/sport...medium=twitter

In other news, pigs fly, the sun rose in the west this morning and a snowball was discovered in hell.

[You Need a Thneed]

I also don't understand why, if Glendale and Hulsizer know that the bonds are legal, why they wouldn't just proceed? It seems to me that they know they aren't legal, or at best gray area.

[valo403]

Originally Posted by You Need a Thneed

I also don't understand why, if Glendale and Hulsizer know that the bonds are legal, why they wouldn't just proceed? It seems to me that they know they aren't legal, or at best gray area.

Because the threat of suit has pushed up the rate, making the sale harder, if not impossible, to complete. The suit doesn't have to be succesful legally for GWI to achieve their goal.

[PegCityFlamesFan]

This just needs to end one way or the other.