Ice Arizona sue for $3.5-million security deposit due to force majuere -- the NHL forced them to sell.

[Ciao]

After ditching Arizona, Coyotes sue to get $3.5M security deposit back

IceArizona, which owned the team, says it deserves its security deposit back despite breaking its lease for Mullett Arena.

www.phoenixnewtimes.com

Lawsuit reported in the Phoenix New Times: The Coyotes want their deposit back and have sued ASU, relying on a force majuere clause because they claim the NHL forced them to sell.

Neither side is talking.

 

[Fenway]

Alex Meruelo walked away with at least a half billion in pure profit, and is he doing this?

Meruelo played Bettman and the BoG like a violin. Why pick a fight with the State of Arizona for chump change?

 

[hangman005]

Alex Meruelo walked away with at least a half billion in pure profit, and is he doing this?

Meruelo played Bettman and the BoG like a violin. Why pick a fight with the State of Arizona for chump change?

Fun

 

[TheLegend]

Alex Meruelo walked away with at least a half billion in pure profit, and is he doing this?

Meruelo played Bettman and the BoG like a violin. Why pick a fight with the State of Arizona for chump change?

I think your estimate of his profit is high. After you account for the debt he assumed when he took over the franchise and losses in between.

But yeah this doesn't make any sense. Even if he were happen to win (and I don't think so) the lawyer's fees would eat it all up anyway,



EDIT: Thought just occurred to me is if this is Alex Meruelo Jr. doing this? IIRC, after the sale of the Coyotes hockey ops and players were sold, IceArizona was turned over to him to oversee the Tucson Roadrunners.

 

[Voight]

Alex Meruelo walked away with at least a half billion in pure profit, and is he doing this?

Meruelo played Bettman and the BoG like a violin. Why pick a fight with the State of Arizona for chump change?

Because hes a grifter and always has been.

 

[aqib]

I think your estimate of his profit is high. After you account for the debt he assumed when he took over the franchise and losses in between.

But yeah this doesn't make any sense. Even if he were happen to win (and I don't think so) the lawyer's fees would eat it all up anyway,



EDIT: Thought just occurred to me is if this is Alex Meruelo Jr. doing this? IIRC, after the sale of the Coyotes hockey ops and players were sold, IceArizona was turned over to him to oversee the Tucson Roadrunners.

If the purchase price was $500M which is what I remember reading then he made $500 million minus whatever losses he took over 5 years. So he probably took home a couple of hundred million. He probably didn't put in that much of his own cash and assumed the debt in place. He did get a solid return but not $500M.

They are probably hoping for a quick settlement and will drop it if there is any resistance.