General Ongoing Coyotes saga thread

[FlyingDonutz]

Originally Posted by BACKCHECK!!!

I still think CalgaryPuck should collectively pony up the money, buy the Coyotes, and run the team by committee.

Vote for executive positions, and all executive proposals (hirings, signings, trades, drafts) must go through CP surveys to be approved.

I bet we come up with just as much real cash money as half the other bozos who have tried to 'buy' the team.

Collectively, we'd win 30 cups and 15 presidents trophies in 5 seasons and we'd have 500 goals for with 50 goals against.

We'd probably be the Iqaluit Igloos.

[dash_pinched]

Jamison’s camp and the NHL discounted rumors yesterday that his ownership bid has lost a smaller investor and was short of the money needed to buy the team even after the Glendale subsidy and disqualification of the ballot measures.

Jamison has not yet disclosed who his financial partners are or how he is coming up with the money. Jamison is the former CEO of the San Jose Sharks and he quietly became co-owner of a minor league hockey team, the Bay Area Seals, in June. The sports executive has experience managing and running arenas, but he needs investment money to buy the team. That has proven complicated with Jamison relying on multiple investors, and perhaps financing avenues, to try to close the deal.

That includes some international and Middle Eastern money. There have been discussions with a Saudi investment group about a stake in the Coyotes.

Hockey in the desert just took on a whole new perspective

http://www.bizjournals.com/phoenix/n...a=twt&page=all

[Northendzone]

^ this seems pretty shaky to me.....

[Jordan!]

Doan will speak with Jamison tomorrow.

[Sidney Crosby's Hat]

Originally Posted by dash_pinched

Jamison’s camp and the NHL discounted rumors yesterday that his ownership bid has lost a smaller investor and was short of the money needed to buy the team even after the Glendale subsidy and disqualification of the ballot measures.

Jamison has not yet disclosed who his financial partners are or how he is coming up with the money. Jamison is the former CEO of the San Jose Sharks and he quietly became co-owner of a minor league hockey team, the Bay Area Seals, in June. The sports executive has experience managing and running arenas, but he needs investment money to buy the team. That has proven complicated with Jamison relying on multiple investors, and perhaps financing avenues, to try to close the deal.

That includes some international and Middle Eastern money. There have been discussions with a Saudi investment group about a stake in the Coyotes.

Hockey in the desert just took on a whole new perspective

http://www.bizjournals.com/phoenix/n...a=twt&page=all

The "Minor League Hockey team" Bay Area Seals are, in fact, Junior A.

So, the equivalent of the Calgary Mustangs, Calgary Canucks, etc.

[Northendzone]

Originally Posted by Bouw N Arrow

Doan will speak with Jamison tomorrow.

Why do I think that part of the conversation will involve Shane becoming a part owner of a pro hockey team?

[dissentowner]

Originally Posted by Northendzone

Why do I think that part of the conversation will involve Shane becoming a part owner of a pro hockey team?

It won't, you will see Doan sign with another team on Friday after he finds out there are no investors.

[Northendzone]

Originally Posted by dissentowner

It won't, you will see Doan sign with another team on Friday after he finds out there are no investors.

I was thinking that if jamieson begged hard enough.....

[jaydub74]

Originally Posted by Northendzone

I was thinking that if jamieson begged hard enough.....

No way this deal goes through. What kind of investor puts money into a sports franchise that's bleeding money that operates in a league that may be entering a lockout year. Crazy.

[Northendzone]

Originally Posted by jaydub74

......What kind of investor puts money into a sports franchise that's bleeding money that operates in a league that may be entering a lockout year. Crazy.

an unamed investor.......

[Resolute 14]

Originally Posted by jaydub74

No way this deal goes through. What kind of investor puts money into a sports franchise that's bleeding money that operates in a league that may be entering a lockout year. Crazy.

The lockout is irrelevant to someone thinking long term, and given Glendale seems set to pay for a very large chunk of the losses, the kind of investor you are looking for is one who believes that the increase he will see in the value of the franchise over time will exceed losses during their period of ownership.

[Northendzone]

I thought that the CoG was out of underwriting the losses and thier contribution was going to be the arena mgmt fee?

Even if the potential owners are thinking long term, it is hard to imagine them giving any money or getting any loans unless the NHL has it's house in order. It would hardly make sense to do that.

[dash_pinched]

Come on CP, I'm sure collectively we could cobble together $20 million to aid Jamison.

Prospective Phoenix Coyotes buyer Greg Jamison is approximately $20 million short of the money he needs to buy the hockey team and keep it in Glendale.

The Coyotes deal is on tenuous ice but could still happen, according to multiple sources familiar with the team's three-year ownership saga and uncertain future in the Phoenix market.

Jamison is courting new investors and partners to help him cobble together the money and financing needed to purchase the team from the National Hockey League.

http://www.bizjournals.com/phoenix/m....html?page=all

[Northendzone]

Wow, I really mean wow.....who could have ever saw this coming

[troutman]

An Open Letter From Jerry Weiers to Prospective Phoenix Coyotes Owner Greg Jamison
Glendale Needs Assurances Now Potential Buyer Can Live Up to Promises

http://www.icontact-archive.com/uQG2...cbYjfOZcSE?w=3

[nik-]

He can't come up with the last 20 million yet he's buying a team that loses almost 20 million a year?

[Sidney Crosby's Hat]

Originally Posted by Northendzone

Wow, I really mean wow.....who could have ever saw this coming

This is such a surprising development!

[Street Pharmacist]

How much of this could have/would have been avoided if Ballsilie would not have tried to go around the NHL?

Now this became a story and all Betman's efforts become difficult. Could he have found an alternative owner if the bankruptcy never happened?

[FlyingDonutz]

I think Windsor would be an interesting place to put a team. But the Nordiques will probably come back at some point.

[Resolute 14]

Originally Posted by Street Pharmacist

How much of this could have/would have been avoided if Ballsilie would not have tried to go around the NHL?

Now this became a story and all Betman's efforts become difficult. Could he have found an alternative owner if the bankruptcy never happened?

Well, after his nonsense with the Preds, Balsillie's name was already mud with the NHL. His impatience with the bankruptcy scam in Phoenix didn't help his case.

However, the league had been trying to find new investors for the Coyotes for some time at that point, and odds are Jerry Moyes own impatience with the situation made him receptive to the bankruptcy plan.

The irony is that the bankruptcy probably made it easier to deal with the Coyotes situation. The old lease had a massive penalty to break it (nine digits, iirc), but that went away when the team went bankrupt. The new lease would pay the owner a good pile of cash every year to keep the team in Phoenix, so the situation for a potential investor is actually better now than it was then.

The problem, of course, is that the team just isn't likely to ever turn a profit, even with the subsidy. As I said above, the league/team needs investors who believe the franchise will appreciate in value faster than it loses money. Even with the subsidy, that is debatable, which is likely why there isn't a rush of people banging down Jamison's door.