General Ongoing Coyotes saga thread

[Daradon]

Only in Canada do the best business and law minds figure out where hockey is viable for fun.

This may be better focused.

Or not.

[troutman]

Lisa Halverstadt ‏@LisaHalverstadt #Glendale
Mayor Elaine Scruggs: Council gave direction to accept the extension of the arena management contract with the #NHL. #Coyotes

Lisa Halverstadt ‏@LisaHalverstadt
Scruggs said a council majority, which didn’t include her, declined to discuss "developing any sort of alternative plan” for #Coyotes arena.

http://www.twitlonger.com/show/ik8thd
Scruggs: “My position is that it’s a great idea to accept the offer of the extension from the NHL at no cost to the city but the city is being put in continuing and growing peril with the lack of finality for this situation.”

http://www.twitlonger.com/show/ikjelv

Here's what Clark had to say via Facebook:

I am pleased that a majority of City Council continues to hold the vision of a viable Westgate that includes the Coyotes hockey team as its anchor tenant. By granting a one-month extension when everyone is inches from the finish line in accepting Greg Jamison as owner of the team and lease manager of the arena was the prudent course of action.

The only "peril" that the city faces is failing to acquire the Jamison Group, a lease management company with a proven track record of success in San Jose, Calif.

[prove track record of success? The Sharks lose money every year ($15 M last season) in a far better hockey market than Phoenix]

[Northendzone]

so the jamison group is reproted to be $20,000,000 short (as I recall the pruchase price was somewhere around $140,000,000 so jamison and his good time buddies are only 85% funded) and according to the above FB post, the deal is inches from the finish line......seems like some bearucratic spin doctoring......

it has bene a few weeks since any reports mentioned riensdorf's name, so i'll throw it out there (again).......

[Sidney Crosby's Hat]

Originally Posted by Northendzone

so the jamison group is reproted to be $20,000,000 short (as I recall the pruchase price was somewhere around $140,000,000 so jamison and his good time buddies are only 85% funded) and according to the above FB post, the deal is inches from the finish line......seems like some bearucratic spin doctoring......

it has bene a few weeks since any reports mentioned riensdorf's name, so i'll throw it out there (again).......

Makes you wonder where they're going to find their next $20 million a year from now.

Plus, the purchase price is so high that the Coyotes franchise value is not likely to increase anytime soon.

[Resolute 14]

Originally Posted by troutman

[prove track record of success? The Sharks lose money every year ($15 M last season) in a far better hockey market than Phoenix]

While she is undoubtedly playing PR, the losses incurred by the hockey team do not necessarily translate to the arena. The Sharks' arena may well be profitable.

[troutman]

Originally Posted by Resolute 14

While she is undoubtedly playing PR, the losses incurred by the hockey team do not necessarily translate to the arena. The Sharks' arena may well be profitable.

Also, you can't blame him if owners want to spend to the cap, and keep ticket prices low. Still, his performance is not above criticism.

[troutman]

Originally Posted by Sidney Crosby's Hat

Makes you wonder where they're going to find their next $20 million a year from now.

Also, won't they need significant operating capital too (besides coming up with the purchase price)?

[Resolute 14]

Originally Posted by troutman

Also, you can't blame him if owners want to spend to the cap, and keep ticket prices low. Still, his performance is not above criticism.

Agreed. Would be interesting then to see what the financials are like for the HP Pavilion. Also, would be interesting to see what level of involvement Jamison has in the operation of said arena.

[Daradon]

Merge?

[Slava]

Originally Posted by troutman

Also, won't they need significant operating capital too (besides coming up with the purchase price)?

This is what I wonder about. Isn't giving the franchise to a guy who is essential going to operate them paycheque to paycheque just plain infeasible from the beginning?

[Jordan!]

@judefox10: Are we just a day away from a new owner for your Phoenix Coyotes?”

[Daradon]

Originally Posted by Bouw N Arrow

@judefox10: Are we just a day away from a new owner for your Phoenix Coyotes?”

We've been a day away for more than two years.

[sevenarms]

Originally Posted by Daradon

We've been a day away for more than two years.

I think it's next Monday.

[Northendzone]

i wonder where judge redfield t. baum is these days......as i recall he was a judge that initially presided over this mess......

[Northendzone]

Originally Posted by troutman

Also, won't they need significant operating capital too (besides coming up with the purchase price)?

no, i bleieve that jamison likes to buy a house and never furnish it because he is tight for cash - but he is rich because he bought the house......

[dash_pinched]

Originally Posted by troutman

Also, won't they need significant operating capital too (besides coming up with the purchase price)?

Bah, who needs operating capital?!?

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

[Northendzone]

more bad news for the jamison gropup as based on this thread, i am assuming that jose canseco is out as an investor.

http://forum.calgarypuck.com/showthread.php?t=119519

[Fire]

Originally Posted by Northendzone

more bad news for the jamison gropup as based on this thread, i am assuming that jose canseco is out as an investor.

http://forum.calgarypuck.com/showthread.php?t=119519

Jose Canseco was an investor!? Ha Ha Ha!

[Northendzone]

Originally Posted by Fire

Jose Canseco was an investor!? Ha Ha Ha!

i was joking, although, since jamison has not made the names of his friends public, jose could very well have been in the mix......

[troutman]

Anson Carter is rumored to be an investor.