The Ongoing Coyotes Sale Thread

[afc wimbledon]

Originally Posted by Barnes

Yup.

Section 7. Neither the state, nor any county, city, town, municipality, or other subdivision of the state shall ever give or loan its credit in the aid of, or make any donation or grant, by subsidy or otherwise, to any individual, association, or corporation, or become a subscriber to, or a shareholder in, any company or corporation, or become a joint owner with any person, company, or corporation, except as to such ownerships as may accrue to the state by operation or provision of law or as authorized by law solely for investment of the monies in the various funds of the state.

Maybe one of the lawyers can explain the intention of the bold portion. To me, it reads 'You can't give away money unless, there's a good reason to.' -->Which must be decided by a court, which you are not.

To me it reads that the state can invest in companies it at times ends up owning, I assume this means water or power companies or the like and they can invest in stocks and bonds like any other shareholder.

[dissentowner]

Originally Posted by afc wimbledon

To me it reads that the state can invest in companies it at times ends up owning, I assume this means water or power companies or the like and they can invest in stocks and bonds like any other shareholder.

Exactly. Now if the City Of Glendale was using the payments to own the Coyotes instead of just covering debt for a future buyer then the city would have a case. I can't see how using taxpayers money to cover the expenses of a sports team that will be owned by somebody other than the city of Glendale can be legal.

[Resolute 14]

Then why didn't anyone challenge the last $25 million payment, and why isn't GWI going after the city on the new deal?

[topfiverecords]

Nick Dranias, a lawyer for GWI was on Prime Time Sports yesterday and clearly outlined their position on the $25M. Download the 6pm podcast on itunes if you want to hear it. In summary, he stated they are waiting for documents relating to the deal to determine if this years $25M can be classified as a subsidy etc. Apparantly the $25M doesn't have to go into escrow until September and may not have to pay if the team is sold prior. Therefor any legal filing right now could be moot if a deal with a buyer happens before September. They also do not want to take legal action only on the $25M yet as they feel it's only a small piece of the larger picture and want to wait to see how things unfold. If a deal with a buyer starts to be put together they want to evaluate the whole and take all items they have issue with to court at once. If no buyer comes when September hits I imagine they'll raise issue with the $25M.

[KootenayFlamesFan]

Please stick to the topic and stop the personal shots. Thanks.

[longsuffering]

Originally Posted by dissentowner

Really? Care to explain the reality of situation then? Please enlighten me.

Why bother? I can see you don't see able to absorb anything that anyone who disagrees with you says.

And as I said, I don't have a dog in this fight. I was just making an observation.

[dissentowner]

Originally Posted by longsuffering

Why bother? I can see you don't see able to absorb anything that anyone who disagrees with you says.

And as I said, I don't have a dog in this fight. I was just making an observation.

Thanks for the explanation on the situation,lol. I gave you a chance to clear everything up as you said I was clueless about what was going on. Well done.

[troutman]

Glendale economic report about Phoenix Coyotes kept private

http://www.azcentral.com/news/articl...s-private.html

Glendale is withholding a key economic report the city commissioned to persuade investors to finance its PhoenixCoyotes deal.

The report was prepared for the city's pitch to investors earlier this year when Glendale sought $116 million in financing from bond buyers. The money was needed to complete a 30-year lease at Jobing.com Arena with team buyer Matthew Hulsizer.

But the TL Hocking & Associates report could shed light on assumptions the City Council relied on to approve the deal with Hulsizer last December. And it could provide insight into how much money Glendale is expected to reap by keeping the hockey team in town.

The Arizona Republic five weeks ago filed a request with Glendale under the state's public-records law for the study.

The city denied the Republic's request three weeks later, saying the report was "protected" and it was "in the city's best interest not to release it."

[afc wimbledon]

Originally Posted by troutman

Glendale economic report about Phoenix Coyotes kept private

http://www.azcentral.com/news/articl...s-private.html

Glendale is withholding a key economic report the city commissioned to persuade investors to finance its PhoenixCoyotes deal.

The report was prepared for the city's pitch to investors earlier this year when Glendale sought $116 million in financing from bond buyers. The money was needed to complete a 30-year lease at Jobing.com Arena with team buyer Matthew Hulsizer.

But the TL Hocking & Associates report could shed light on assumptions the City Council relied on to approve the deal with Hulsizer last December. And it could provide insight into how much money Glendale is expected to reap by keeping the hockey team in town.

The Arizona Republic five weeks ago filed a request with Glendale under the state's public-records law for the study.

The city denied the Republic's request three weeks later, saying the report was "protected" and it was "in the city's best interest not to release it."

Classic! this council really is a sad sack of crap.

[PegCityFlamesFan]

How about, since they want to keep the Coyotes real bad, the have a drive to 13,000 to keep the team in the city. I am sure that'll be just fine.

[DementedReality]

Originally Posted by troutman

Glendale economic report about Phoenix Coyotes kept private

http://www.azcentral.com/news/articl...s-private.html

Glendale is withholding a key economic report the city commissioned to persuade investors to finance its PhoenixCoyotes deal.

The report was prepared for the city's pitch to investors earlier this year when Glendale sought $116 million in financing from bond buyers. The money was needed to complete a 30-year lease at Jobing.com Arena with team buyer Matthew Hulsizer.

But the TL Hocking & Associates report could shed light on assumptions the City Council relied on to approve the deal with Hulsizer last December. And it could provide insight into how much money Glendale is expected to reap by keeping the hockey team in town.

The Arizona Republic five weeks ago filed a request with Glendale under the state's public-records law for the study.

The city denied the Republic's request three weeks later, saying the report was "protected" and it was "in the city's best interest not to release it."

hard not to question whats in the report!!

if i was a tax payer, i would pretty steamed about this but what else is new, the politicians everywhere already know whats best for us citizens.

[MacGruber]

really, some of these freaking city council members and the mayor need to wind up behind bars. this isn't just corruption, it's bordering on ... well, corruption.. its corruption.

[Tsawwassen]

Originally Posted by Yasa

I just want this to eeeeeennddddd. I don't care the outcome. Just please let it be over.

There is no end in sight. This will keep going and going and going and.......

[Mazrim]

Originally Posted by PegCityFlamesFan

How about, since they want to keep the Coyotes real bad, the have a drive to 13,000 to keep the team in the city. I am sure that'll be just fine.

They might want to start a little smaller, knowing general attendance there. Maybe 5,000? Driveto5.com should be open to buy for a website, and it has a nice ring to it.

[Jordan!]

Season tickets are at 90% renewal with 1000 new sales.

[TorqueDog]

Originally Posted by Bouw N Arrow

Season tickets are at 90% renewal with 1000 new sales.

That doesn't mean much without a count of how many tickets a "90% renewal rate" means. That could mean they've got 1,350/1,500 tickets renewed and an extra 1,000 sold.

[hwy19man]

It is back!!

NHL loses Coyotes bankruptcy decision

"The NHL suffered another setback Wednesday in its seemingly never-ending legal battle over the Arizona Coyotes. U.S. Bankruptcy Court Justice Redfield T. Baum, recommended that the league be denied almost all of its claim of $145-million (all figures U.S.) in damages against former team owner Jerry Moyes. This is the second loss for the NHL in the claim against Moyes. The court ruled against the league in October, 2013."

http://www.theglobeandmail.com/sports/hockey/nhl-loses-arizona-coyotes-bankruptcy-decision/article22571647/

Remember those names? Here we go again.

[ClubFlames]

When I saw hwy19man was the last poster I thought he posted what channel they are showing the sale or bankruptcy of the Coyotes.