IceCap Posted June 6, 2012 Share Posted June 6, 2012 Forbes says he doesn't have the money yet.http://www.forbes.com/sites/mikeozanian/2012/06/06/jamison-still-trying-to-raise-money-to-purchase-coyotes/ Although the Glendale City Council votes this Friday on new 20-year lease (located at the bottom of this post) at Jobing.com Arena for Greg Jamison, the prospective buyer of the Phoenix Coyotes, sources familiar with the matter say the former CEO of the San Jose Sharks still has not raised enough money to buy the National Hockey League team.According to these sources Jamison is having trouble raising the money to make the $170 million purchase because investors believe that even with a $15 million a year taxpayer subsidy over the course of the new lease the Coyotes will have difficulty turning a profit. The Coyotes, bought by the NHL while in bankruptcy in 2009 for $140 million, have been losing money even though they have been getting a $25 million a year subsidy from Glendale.. . . Don't be shocked if the NHL lowers its asking price well below $170 million or the deal with Jamison falls through, just like the previous negotiations to sell the team to Jerry Reinsdorf and Matthew Hulsizer fell apart. In November we valued the Coyotes at $134 million, last in the 30-team league.Oh and they're ramrodding the vote through on a Friday morning when no one can address City Council.This happens with every potential owner. They announce a "deal" (ie illegal operation that involves a city buying a parking lot from itself) but then the proposed owner can't get the money together because even with all the money being thrown at them by the city no investor with half a brain's willing to touch the Coyotes with a ten foot poll. The asset is toxic. Just move them already. Quote PotD 26/2/12 1/7/15 2020 BASS Spin the Wheel, Make the Deal Regular Season Champion 2021 BASS NFL Pick'em Regular Season Champion Link to comment Share on other sites More sharing options...
rvrdgsfn Posted June 7, 2012 Share Posted June 7, 2012 Goldwater is going in guns blazing, get the popcorn http://goldwaterinstitute.org/article/letter-mayor-and-councilmembers-glendaleSome snippets...We understand the Council is considering adopting the deal as an "emergency" measure, which would deprive Glendale citizens of their right to refer the matter to a vote. As you know, the circumstances justifying an emergency declaration are limited. Given that the City apparently has been negotiating this proposal for quite some time, and the dire financial condition the City is in, denying citizens their right of referral seems inappropriate. Quote Link to comment Share on other sites More sharing options...
IceCap Posted June 7, 2012 Share Posted June 7, 2012 Quote PotD 26/2/12 1/7/15 2020 BASS Spin the Wheel, Make the Deal Regular Season Champion 2021 BASS NFL Pick'em Regular Season Champion Link to comment Share on other sites More sharing options...
charger77 Posted June 7, 2012 Share Posted June 7, 2012 When can Glendale have a recall? Quote PotD May 11th, 2011looooooogodud: June 7th 2010 - July 5th 2012 Link to comment Share on other sites More sharing options...
Gothamite Posted June 7, 2012 Share Posted June 7, 2012 That meeting might outdraw actual Coyotes games. Quote The Green Bay Packers Uniform Database! Now in a handy blog. Link to comment Share on other sites More sharing options...
GeorgesL Posted June 7, 2012 Share Posted June 7, 2012 And so it begins. Time to warm up those U-Hauls. Quote Link to comment Share on other sites More sharing options...
The_Admiral Posted June 7, 2012 Author Share Posted June 7, 2012 The City also is giving the arena manager parking rights. In the previous proposed deal with Matthew Hulsizer, the City valued parking rights at approximately $100 million over a specified period, and used those estimates to issue bonds. The Council should be informed of the value of the parking rights that are being transferred and the basis of that value, as part of the assessment of whether the agreement includes an illegal subsidy and is fair to taxpayers."You said you had to buy that parking lot [from yourself] for $100 million. Now that you had it all along, you're just giving $100 million away?"hahahahahahahahahahahaha Quote ♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫ Link to comment Share on other sites More sharing options...
Sodboy13 Posted June 7, 2012 Share Posted June 7, 2012 Well, they've bought themselves another season and another $25 million in debt by drawing it all out this long, regardless.So, what's the endgame here? How far back do the goalposts get pushed? Does Glendale get one more season? Do they get a free pass for 2012-13 because the season gets cancelled, and then a season after that? Or do they continue this farce all the way to 2015 when Quebecor finishes Le Colisee Nouveau, at which point the league will throw up deuces and tear ass down the Loop 101? Quote On 1/25/2013 at 1:53 PM, 'Atom said: For all the bird de lis haters I think the bird de lis isnt supposed to be a pelican and a fleur de lis I think its just a fleur de lis with a pelicans head. Thats what it looks like to me. Also the flair around the tip of the beak is just flair that fleur de lis have sometimes source I am from NOLA. PotD: 10/19/07, 08/25/08, 07/22/10, 08/13/10, 04/15/11, 05/19/11, 01/02/12, and 01/05/12. Link to comment Share on other sites More sharing options...
The_Admiral Posted June 7, 2012 Author Share Posted June 7, 2012 Some reporter out of Quebec said there's an alternate schedule with Quebec City (no elaboration as to if it also includes Colorado in the Pacific and Winnipeg in the Northwest, placing QC in the NASCAR Division Parking Lot till realignment), and that Peladeau can turn on a dime if need be, so I guess there's no guarantee that they're in Phoenix next year.If the season gets cancelled, they get a million free passes to prove their hockey worth, because the NHL won't exist anymore. Quote ♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫ Link to comment Share on other sites More sharing options...
ninersdd Posted June 7, 2012 Share Posted June 7, 2012 I forgot the cluster:censored: there would be if Winnipeg is in the Southeast and Quebec would be in the Pacific next year if Phoenix moved. Quote BEAR DOWN ARIZONA!2013/14 Tanks Picks Champion Link to comment Share on other sites More sharing options...
The_Admiral Posted June 7, 2012 Author Share Posted June 7, 2012 Moving to the Western Conference would kind of suck for the Jets, as they'd go from playing for Fake Third Place to getting stuck in a big mess, particularly behind teams that won't give up the ghost and politely go to the back of the line (Sharks, Flames, arguably Ducks). Quote ♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫ Link to comment Share on other sites More sharing options...
rams80 Posted June 7, 2012 Share Posted June 7, 2012 Well, they've bought themselves another season and another $25 million in debt by drawing it all out this long, regardless.So, what's the endgame here? How far back do the goalposts get pushed? Does Glendale get one more season? Do they get a free pass for 2012-13 because the season gets cancelled, and then a season after that? Or do they continue this farce all the way to 2015 when Quebecor finishes Le Colisee Nouveau, at which point the league will throw up deuces and tear ass down the Loop 101?There's got to be an election at some point. If nothing else that is when it will end.Either way, nominates "The Neverending Story" as the theme song of the Phoenix Coyotes debacle. Quote On 8/1/2010 at 4:01 PM, winters in buffalo said: You manage to balance agitation with just enough salient points to keep things interesting. Kind of a low-rent DG_Now. On 1/2/2011 at 9:07 PM, Sodboy13 said: Today, we are all otaku. "The city of Peoria was once the site of the largest distillery in the world and later became the site for mass production of penicillin. So it is safe to assume that present-day Peorians are descended from syphilitic boozehounds."-Stephen Colbert POTD: February 15, 2010, June 20, 2010 The Glorious Bloom State Penguins (NCFAF) 2014: 2-9, 2015: 7-5 (L Pineapple Bowl), 2016: 1-0 (NCFAB) 2014-15: 10-8, 2015-16: 14-5 (SMC Champs, L 1st Round February Frenzy) Link to comment Share on other sites More sharing options...
dfwabel Posted June 7, 2012 Share Posted June 7, 2012 When can Glendale have a recall?There's got to be an election at some point. If nothing else that is when it will end.There really is not a point for them to recall members of the council since three members who are up for re-election this year are not running: Mayor Scruggs, Vice-Mayor Frate, and Coun. Lieberman. Only councilwoman, Clark, is running this year. They public could possible recall the three incumbents from the 2010 election since they were in office when both the 2010 and 2011 loans were approved, in addition some voted against the previous contracts with the potential ownership groups. That said, the state legislature may change how recalls are done in the state by the end of this legislative session (SB 1449). Quote Link to comment Share on other sites More sharing options...
njmeadowlanders Posted June 7, 2012 Share Posted June 7, 2012 I forgot the cluster:censored: there would be if Winnipeg is in the Southeast and Quebec would be in the Pacific next year if Phoenix moved.Well they could trade QUE & WPG...And GWI should 100% definitely be all over this. This whole thing is just sad at this point. Quote Link to comment Share on other sites More sharing options...
bosrs1 Posted June 7, 2012 Share Posted June 7, 2012 I forgot the cluster:censored: there would be if Winnipeg is in the Southeast and Quebec would be in the Pacific next year if Phoenix moved.Well they could trade QUE & WPG...And GWI should 100% definitely be all over this. This whole thing is just sad at this point.Good news is, it does appear they're going to be all over this. And on top of it you have a mayor and several councilmen who wouldn't have to worry about this if it does get derailed again since they'd be out of office. Seems to me everything and then some that killed the Hulsizer deal last year is here to do the same for the Jamison deal. I mean hell, Jamison doesn't even have his portion of the funding yet. Quote Link to comment Share on other sites More sharing options...
Epiphanic Posted June 7, 2012 Share Posted June 7, 2012 As someone who hasn't followed this story that closely, why hasn't Goldwater Institute taken this to court yet? It's been a farce for a long time and illegal things have probably already happened. So what are they waiting for? Quote "In the arena of logic, I fight unarmed."I tweet & tumble. Link to comment Share on other sites More sharing options...
IceCap Posted June 7, 2012 Share Posted June 7, 2012 I forgot the cluster:censored: there would be if Winnipeg is in the Southeast and Quebec would be in the Pacific next year if Phoenix moved.Well they could trade QUE & WPG...And GWI should 100% definitely be all over this. This whole thing is just sad at this point.Good news is, it does appear they're going to be all over this. Quote PotD 26/2/12 1/7/15 2020 BASS Spin the Wheel, Make the Deal Regular Season Champion 2021 BASS NFL Pick'em Regular Season Champion Link to comment Share on other sites More sharing options...
The_Admiral Posted June 8, 2012 Author Share Posted June 8, 2012 Tomorrow morning the City of Glendale plans to consider what is estimated to be a $425 million arena management deal for Jobing.com Arena. Arizona?s Open Meetings Law and multiple court orders require the city to make public all documents related to the proposed contract at least 24 hours before a Council vote is taken, which it has not done. The 100-page deal released on Monday refers to a number of exhibits that are central to analyzing the impact of the deal on Glendale?s finances, which the city must make public. Per respecting Open Meetings Law requirements, the Goldwater Institute will be requesting a temporary restraining order to prevent the Glendale City Council from voting on the contract Friday morning.Go go Goldwater. HE DOESN'T HAVE THE MONEY ANYWAY GUYS Quote ♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫ Link to comment Share on other sites More sharing options...
Sodboy13 Posted June 8, 2012 Share Posted June 8, 2012 At this point, morbid curiosity makes me want them to approve the whole deal tomorrow morning despite the numerous illegalities involved, and the lack of ownership money. Quote On 1/25/2013 at 1:53 PM, 'Atom said: For all the bird de lis haters I think the bird de lis isnt supposed to be a pelican and a fleur de lis I think its just a fleur de lis with a pelicans head. Thats what it looks like to me. Also the flair around the tip of the beak is just flair that fleur de lis have sometimes source I am from NOLA. PotD: 10/19/07, 08/25/08, 07/22/10, 08/13/10, 04/15/11, 05/19/11, 01/02/12, and 01/05/12. Link to comment Share on other sites More sharing options...
DarkJourney Posted June 8, 2012 Share Posted June 8, 2012 I just want to put my hands around Bettman's throat and not let go. Ever. Quote Link to comment Share on other sites More sharing options...
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