NHL Anti-Thread: Bad Business Decision Aggregator

[Gary]

http://www.azfamily.com/news/Coyotes-win-as-Glendale-Council-pledges-more-money-148626725.html

Monday, during an eight-hour budget session, the Glendale City Council voted to budget another payout for next season.

During the same meeting, the Council also voted to raise property taxes and the sales tax. Council members said the Coyotes fund is not directly related to the tax hike, but another city official called it a "contributing factor."

Hmm, complete 180, the saga continues

To wonder why I'm moving to Tempe this year, Glendale has been my home for the last 25 or so years, but this Klown Kouncil is ruining the city. No Libraries, schools are being cut of their funds and Police officers are being laid off or have to transfer to other cities. Really sad day how a team can both morally and fically ruin what used to be a great city.

[IceCap]

http://www.azfamily.com/news/Coyotes-win-as-Glendale-Council-pledges-more-money-148626725.html

Monday, during an eight-hour budget session, the Glendale City Council voted to budget another payout for next season.

During the same meeting, the Council also voted to raise property taxes and the sales tax. Council members said the Coyotes fund is not directly related to the tax hike, but another city official called it a "contributing factor."

Hmm, complete 180, the saga continues

Holy crap, this is gonna go on another year, isn't it?!

Preferably much longer

Financially destroying a city's totally worth it for a sports team....that people don't show up for.

[JQK]

http://www.azfamily.com/news/Coyotes-win-as-Glendale-Council-pledges-more-money-148626725.html

Monday, during an eight-hour budget session, the Glendale City Council voted to budget another payout for next season.

During the same meeting, the Council also voted to raise property taxes and the sales tax. Council members said the Coyotes fund is not directly related to the tax hike, but another city official called it a "contributing factor."

Hmm, complete 180, the saga continues

I reiterate...

[njmeadowlanders]

http://www.azfamily.com/news/Coyotes-win-as-Glendale-Council-pledges-more-money-148626725.html

Monday, during an eight-hour budget session, the Glendale City Council voted to budget another payout for next season.

During the same meeting, the Council also voted to raise property taxes and the sales tax. Council members said the Coyotes fund is not directly related to the tax hike, but another city official called it a "contributing factor."

Hmm, complete 180, the saga continues

To wonder why I'm moving to Tempe this year, Glendale has been my home for the last 25 or so years, but this Klown Kouncil is ruining the city. No Libraries, schools are being cut of their funds and Police officers are being laid off or have to transfer to other cities. Really sad day how a team can both morally and fically ruin what used to be a great city.

I'd do the same.

[rvrdgsfn]

http://translate.google.com/translate?sl=fr&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Ftvasports.ca%2Ftvasports%2Fhockey%2Farchives%2F2012%2F04%2F20120424-163050.html&act=url

No agreement has been reached between the City of Glendale and the group led by Greg Jamison, but never mind, the Goldwater Institute is ready to defend citizens.

Councillor Joyce Clark said Monday she said that there is four of seven board members in favor of an agreement with Jamison, if he is willing to accept a $ 17 million for managing the arena.

To pay this amount to the group of Jamison, the City should increase sales taxes by 0.7%, which would make the city of Glendale most taxed in the United States.

Glendale Mayor Elaine Scruggs, said Monday it has abandoned the idea of ​​keeping the Coyotes, as councilors Norma Alvarez and Phil Lieberman. It is therefore conceivable that Clark, Yvonne Knaack, Manny Martinez and Steven Frate are four members in favor.

Dear God let this be true.

[bosrs1]

http://translate.google.com/translate?sl=fr&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Ftvasports.ca%2Ftvasports%2Fhockey%2Farchives%2F2012%2F04%2F20120424-163050.html&act=url

No agreement has been reached between the City of Glendale and the group led by Greg Jamison, but never mind, the Goldwater Institute is ready to defend citizens.

Councillor Joyce Clark said Monday she said that there is four of seven board members in favor of an agreement with Jamison, if he is willing to accept a $ 17 million for managing the arena.

To pay this amount to the group of Jamison, the City should increase sales taxes by 0.7%, which would make the city of Glendale most taxed in the United States.

Glendale Mayor Elaine Scruggs, said Monday it has abandoned the idea of ​​keeping the Coyotes, as councilors Norma Alvarez and Phil Lieberman. It is therefore conceivable that Clark, Yvonne Knaack, Manny Martinez and Steven Frate are four members in favor.

Dear God let this be true.

Hopefully not. This travesty has gone on long enough. That and I can't see any politician that's not ready to commit career suicide raising any tax rate to the highest in the nation to line the pockets of a rich guy. Unless 4 members of the Glendale city council don't like their jobs there's no way they raise taxes to keep the team.

[rvrdgsfn]

Yeah it would help if I read that right... I meant to say that I hope its true that this nightmare will end & they'll be out of Phoenix & to Quebec City.

[rams80]

Councilwoman Yvonne Knaack explained her 'yes' vote.

"We own that arena," she said. "We have the debt regardless of the Coyotes. The best case scenarios is the Coyotes stay here to play the games and bring 500,000 people to the arena."

500,000 people. That's 12,000 a game. The "best case scenario" involves being dead last in league attendance by a wide margin. Keep on reaching for the stars, Yvonne.

These people are dumber than dog .

Pretty sure the "500,000 people" was a generalized guesstimate and a sort of blanket statement when talking to the media. Her math is all about positive cash flows not actual calculations.

And by paying for the hockey team, you further restrict access to actual knowledge by your citizens. It's amazing. All towns should have hockey teams.

[DarkJourney]

Bettman saving the Coyotes just to move them to Seattle in a few years and then serving up the Islanders to Quebec City in 2015 just in time for their new arena to open. Little bastard is devious.

[BBTV]

Bettman saving the Coyotes just to move them to Seattle in a few years and then serving up the Islanders to Quebec City in 2015 just in time for their new arena to open. Little bastard is devious.

The thing is, this isn't really a "few years" type thing - they're going to go through this next year, then the year after that, etc. etc. They need to have a contingency plan ready to go at each year-end - they don't have the luxury of counting on the Coyotes being in the suburban mall for a "few" more years.

So I'm confused with the conflicting reports. Where does this stand right now? I read that the Glendopes agreed to pay the 5M, but then that other article hinted that they were leaving. What's the deal here?

[rvrdgsfn]

Bettman saving the Coyotes just to move them to Seattle in a few years and then serving up the Islanders to Quebec City in 2015 just in time for their new arena to open. Little bastard is devious.

The thing is, this isn't really a "few years" type thing - they're going to go through this next year, then the year after that, etc. etc. They need to have a contingency plan ready to go at each year-end - they don't have the luxury of counting on the Coyotes being in the suburban mall for a "few" more years.

So I'm confused with the conflicting reports. Where does this stand right now? I read that the Glendopes agreed to pay the 5M, but then that other article hinted that they were leaving. What's the deal here?

Truth be told, I don't think anyone knows, but I did come across this at work today...

http://translate.google.com/translate?sl=fr&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.cyberpresse.ca%2Fle-soleil%2Fsports%2Factualites-sportives%2F201204%2F25%2F01-4519001-vente-des-coyotes-des-succes-sans-influence.php&act=url

"As for the price asked by the League, which owns the team, he should not climb along with the rise of the team sets the table, assured Bill Daly. NHL asks $ 170 million for the Coyotes and that will not change, he said. "

I'd take it with a grain of salt, although this wouldn't surprise me in price.

[Cosmic]

$170 million for the Coyotes makes a lot of sense, since the Sabres, who are profitable in the city in which they currently reside, sold for $175M a year ago. The Sabres sale included a 15 year old arena and one of the most popular indoor lacrosse teams. The Coyotes sale will include... all of the leftover promotional giveaway items from nights where there weren't 10,000 fans?

OITGDNHL.

[HedleyLamarr]

I'm sure that $170 million will include an unofficial, unmentioned "relocation fee", and paying back the owners of the other 29 teams for helping fund the Coyotes while the league owned them.

[GeorgesL]

I'm just worried that, and I'm not trying to knock the fans in Phoenix for this, is that the deeper they go in the playoffs, sellout or not, the Coyotes would be dramatically inclined to stay in Phoenix for next season, and the season after that. That way no matter how much money the city has leftover, the city government would either pony up by selling their houses, cars, timeshares and what-not, just to keep the team there all from the goodness of their hearts, or let Jamison be persuaded to actually get his wish and buy the team so they can stay.

This sounds like an ending to a Hollywood movie, doesn't it? If you think it is, you're right.

After reading the articles on this thread, I'm still not convinced the city of Glendale actually HAS more money to blow off, or if Mr. Jamison is actually the savior of Phoenix. All I know is that the great folks at Quebecor is ready and willing to pay top dollar for the Coyotes. They have the money, they have the investors, and most of all they have the plans to build the arena, which according to my calculations is 5 months away. Plus Quebec City wants NHL hockey, and lots of it. I'm sure Glendale wants it too, but they just can't afford it. Which reminds me, the Goldwater Institute is also a major player. They have the power to tell Glendale upon raising taxes to fund the team some more, "Not so fast!" I don't know what goes on in Glendale because I don't live there, but I sympathize with the taxpayers if they have to pay more money towards a hockey team they just don't have the passion to watch. If you recall how many fans showed up last season at a rally outside the arena to save the Coyotes? Not even close to 300, or 500. Lucky for them, they weren't the ones that moved to Winnipeg. It was Atlanta, which I thought had a good chance at staying.

I'm neither a politician, nor a financial expert, but that was my two cents.

[evanmaldonado]

I think it'd be hilarious if they won the Cup in the next few years, and then defended it playing in a new city. I kind of want to see that happen.

[cmm]

Didn't the Devils come close to moving to Nashville after winning the Cup in 1995?

[BrySmalls]

Didn't the Devils come close to moving to Nashville after winning the Cup in 1995?

Nashville was considered; however, then Devils coach Lemaire wasn't sold on the idea.

Source

[NJTank]

We have a small fan base, but we have a passionate fan base. The Devils fan club is rated best in the league and that Prudential Center is at least 85-90% filled every night. I was there for Game 3 and Game 6 against the Panthers and the place was packed.

[Magnus]

I think it'd be hilarious if they won the Cup in the next few years, and then defended it playing in a new city. I kind of want to see that happen.

This year would be awesome - especially if they moved to Quebec for the start of 2012-13. (Retribution!)

[pmoehrin]

Didn't the Devils come close to moving to Nashville after winning the Cup in 1995?

Nashville was considered; however, then Devils coach Lemaire wasn't sold on the idea.

Source

I don't think the talks ever really got that serious. On a scale of 1 to 10 with 10 being they would certainly move and 1 meaning they were absolutely staying put, I would give it about a 3.

About the only thing that came out of it was a restructured lease deal which leads me to think the Devils were using Nashville more as a bargaining chip then anything else. I don't see why any team would want to leave the NYC metro area to go to Nashville unless either ownership needed money, or things had gotten really bad, neither of which was the case.