[News] Barroway buys controlling interest in Coyotes

[Wammer]

Originally Posted by Resolute 14

"They" don't really have a say in the matter right now. The Coyotes have a lease with the city that doesn't allow for a relocation until after five years.

Also, as noted, there is nothing in Seattle that approaches being a suitable venue, and little immediate prospect of that changing.

Unless they lose $50 million before that 5 years is up, and they've reportedly already lost $24 million only a year into that deal.

I selfishly would hate to see them move because they're closer to our secondary residence than the Flames are to our Calgary home. I will never really understand why people complain about it being so far out, because it's not. It's less than 30 minutes from 3/4 of the valley, on nice freeways with no lights to boot. (I also don't really see people complaining about how far away the football stadium is and they're in the same spot). The arena is much nicer than the one here, and its nice to be able to catch 4 or 5 games a season while we're down there.

[troutman]

They still have to wait four years before pulling out, but there are good reasons why both sides would want to tear up the agreement sooner than that.

[Vulcan]

I guess they could declare bankruptcy again to get out of the contract.

[Wammer]

http://www.thehockeynews.com/blog/co...-to-las-vegas/

"One person with knowledge of such matters says the Coyotes have already lost $35 million under their new owners George Gosbee and Anthony LeBlanc. It’s believed that if the team loses $50 million in its first three seasons, it can be moved if the owners pay the City of Glendale to be released from its lease. The source said the Coyotes will easily hit the $50 million mark this season, only the second under the new ownership.
The red flag here is that after only a year, the Coyotes are looking for investors and are willing to sell a majority stake in the team. No matter how the Coyotes paint this and exciting and all about keeping the Coyotes in the desert, this cannot be seen as good news. If things were going so well, why would the owners be willing to sell 51 percent of the team just one year after taking over? Could it be that Barroway is being brought in to help stem the losses until a better arrangement can be made?"

[Vulcan]

It looks like Portland still has some interest in the NHL.

On Tuesday, Allen was asked about the chances of an NHL team coming to Portland in the next five years.
“It’s something we look at from time to time,” he said, per The Oregonian. “Obviously we’d probably need to have a strong partner in terms of the ownership of the team and those things and the financial picture would have to all pencil out. There are a number of hurdles to get over and the price of NHL teams keeps accelerating. It’s something we look at but there’s certainly nothing imminent at this point.”
Based on that statement, it doesn’t sound like Allen would want to be the owner of an NHL team in Portland. Instead, he’d prefer to partner with an investor and have the hockey club as a tenant. (Like prospective NBA owner Chris Hansen wants in Seattle.)
That said, Allen could probably find the money if he were to get what he perceived as a good deal on a team. (He has quite a bit of money.) And wouldn’t the NHL love to have an owner like Allen, who also owns the Seattle Seahawks and Seattle Sounders.

http://prohockeytalk.nbcsports.com/2...-time-to-time/

A NHL team in Portland would probably kick the Seattle council to reassess their arena plans.

[Joborule]

Coyotes were really close to moving to Seattle apparently.

Three sources with knowledge of negotiations confirm the Coyotes would have been bought by New York investment banker Ray Bartoszek and his partner Anthony Lanza and moved to Seattle as soon as the following day — playing up to three seasons at KeyArena — had the vote not passed.

"Most people don't realize how close we were to actually getting an NHL team,'' says former Seattle mayor Mike McGinn, who had been involved in the relocation talks.

http://deadspin.com/the-coyotes-were...tle-1643791488

[troutman]

Bettman, Barroway expected for opener; announcement could follow

http://www.foxsports.com/arizona/sto...ncement-100714

[dissentowner]

Originally Posted by troutman

They still have to wait four years before pulling out, but there are good reasons why both sides would want to tear up the agreement sooner than that.

This. I can't see the Coyotes being in Arizona for any longer than another 3 years. Even if they made it another 4 years it is very obvious they are not there for the long haul which is a good thing because next to B&A and handful of other delussional people, nobody is coming to the games. Nobody cares there and making the tax payers foot the bill while cutting money that should be used for more important things in Glendale is absolute garbage.

[troutman]

Craig Morgan ‏@cmorganfoxaz
FYI: Am told Andrew Barroway will not address the media today. The NHL would prefer the sale be complete (paperwork, legalities) beforehand.

[Senator Clay Davis]

Considering that vote to keep them in Glendale passed by 1 vote and is under investigation right now, this could be the final season in Phoenix. If the vote is found to have broken the open meeting law, the vote will be overturned and then with the public no doubt hating the handout to a money loser, could easily see that one vote swing the other way.

Truly the only way the Coyotes will ever be anything but a failure is to create a division with the 7 Canadian teams and Phoenix, so that the stands are packed with snowbirds and tourists.

[Jay Random]

Originally Posted by Senator Clay Davis

Truly the only way the Coyotes will ever be anything but a failure is to create a division with the 7 Canadian teams and Phoenix, so that the stands are packed with snowbirds and tourists.

That wouldn't work, either. Phoenix would instantly lose most of its TV audience, such as it is, because nobody down there cares about the teams up here.

Believe it or not, something like this has been tried before. In the 1920s, the NHL expanded from 4 teams to 10 in a couple of years. There were 4 Canadian and 6 U.S. teams, in two divisions. To make the divisions equal (and to give cheap laughs to the guys in the league office), the New York Americans were assigned to the Canadian Division. That meant that most of their road games were played in Canada – brutal trips to make by train – and most of their home games were against Canadian opponents that nobody in New York cared about. That was one of the major reasons why the Amerks went bust.

If you put the Coyotes in a division with a bunch of Canadian teams, they would probably go broke even faster.

[Resolute 14]

Well, the BOG screwing Red Dutton over sure helped in the case of the Amerks, but at least that led to Dutton's Curse and the Rangers having only one Cup win now in 70 years.

[boddygill]

So the current ownership group is retaining 49%? Seems like they get back a few years losses if that's true.

[dissentowner]

Originally Posted by Resolute 14

Well, the BOG screwing Red Dutton over sure helped in the case of the Amerks, but at least that led to Dutton's Curse and the Rangers having only one Cup win now in 70 years.

I really miss Islanders fans chanting 1940.

[sureLoss]

Darren Dreger @DarrenDreger
Paperwork has been processed for sale of 51% of Arizona Coyotes to Barroway. Expect announcement tonight.

[Jordan!]

Originally Posted by sureLoss

Darren Dreger @DarrenDreger
Paperwork has been processed for sale of 51% of Arizona Coyotes to Barroway. Expect announcement tonight.

It'll be filed Monday

[sureLoss]

Arizona Coyotes @ArizonaCoyotes
BREAKING: #Coyotes announce agreement to sell 51 percent of the Arizona Coyotes franchise to Andrew Barroway.

[Jordan!]

double double

[Jordan!]

http://coyotes.nhl.com/club/news.htm?id=733989

“This is truly a dream come true for me and my family,” said Barroway. “I am extraordinarily grateful for the opportunity of a lifetime and look forward to working and solidifying a strong partnership with the Club’s current ownership group.

“As a group we are committed to serving our fans with a new level of excellence and our collective goal is to put a competitive team on the ice every season and, one day, win the Stanley Cup.”

[Arya Stark]

Does this mean it will be the Nordiques soon? I hope so. Phoenix fans don't deserve a team.