Rumor: Conor Garland Contract / Trade Rumors (UPD: Coyotes are "very much trying to move")

[MIGs Dog]

But do we actually have an owner with deep pockets? Here's Forbes' list of billionaires --

Forbes Billionaires 2021: The Richest People in the World

You can search yourself for Alex Meruelo. He's not on there. But, he SAYS he is worth $2B. You'd think Forbes would agree he's worth half that, you know they've done the research now that he owns a major sports team.

Alex Meruelo - Wikipedia

Personally I think there is a good chance that Meruelo is a complete hack. No proof on my end. Only proof is that a) he seems very cheap (laying off many staff, enforcing a lower than required salary cap etc), b) years ago, NBA rejected his ability to own / run an NBA team and c) Forbes not even recognizing he's worth $1B despite his posturing he's worth double that.

Imo that should never happen. If I say I'm a millionaire then I'd think an independent auditor would confirm at least 500K of value you know? I guess what I'm saying is I think there's a good chance Meruelo isn't a deep pocketed owner like Steve Ballmer who can and did spend his way to build a winning team.

Meaning we should still consider ourselves small market. Even though we represent the 5th or 6th biggest metro in the entire country

This 2011 ESPN article estimated his net worth at $14.5 billion. So if all of these numbers are true, he's down over 80% the past 10 years.

Jackson: The Hawks, Hispanics and Alex Meruelo

 

[RemoAZ]

But do we actually have an owner with deep pockets? Here's Forbes' list of billionaires --

Forbes Billionaires 2021: The Richest People in the World

You can search yourself for Alex Meruelo. He's not on there. But, he SAYS he is worth $2B. You'd think Forbes would agree he's worth half that, you know they've done the research now that he owns a major sports team.

Alex Meruelo - Wikipedia

Personally I think there is a good chance that Meruelo is a complete hack. No proof on my end. Only proof is that a) he seems very cheap (laying off many staff, enforcing a lower than required salary cap etc), b) years ago, NBA rejected his ability to own / run an NBA team and c) Forbes not even recognizing he's worth $1B despite his posturing he's worth double that.

Imo that should never happen. If I say I'm a millionaire then I'd think an independent auditor would confirm at least 500K of value you know? I guess what I'm saying is I think there's a good chance Meruelo isn't a deep pocketed owner like Steve Ballmer who can and did spend his way to build a winning team.

Meaning we should still consider ourselves small market. Even though we represent the 5th or 6th biggest metro in the entire country

It's like you guys are looking for reasons to trash ownership when we finally have one that can actually afford the team. He bought it for 300 mil. That is nothing for a professional franchise. Vegas traffic is coming back and I'm sure his pizza business is doing well like a lot of fast food right now. He wouldn't have bought a house out here during the height of the market if he was worried about money and/or the team either. Are we going to outspend Toronto? Of course not but the team isn't ready to go bankrupt either. When the team has so many stars we need to worry about the cap, then start questioning the owner's ability to pay everyone. Until then, there's absolutely nothing to worry about.

 

[PainForShane]

It's like you guys are looking for reasons to trash ownership when we finally have one that can actually afford the team. He bought it for 300 mil. That is nothing for a professional franchise. Vegas traffic is coming back and I'm sure his pizza business is doing well like a lot of fast food right now. He wouldn't have bought a house out here during the height of the market if he was worried about money and/or the team either. Are we going to outspend Toronto? Of course not but the team isn't ready to go bankrupt either. When the team has so many stars we need to worry about the cap, then start questioning the owner's ability to pay everyone. Until then, there's absolutely nothing to worry about.

This is why these hockey boards are good. Thx everyone.

@RemoAZ all good over here. You and I have agreed, we've disagreed, whatever. You, @MIGs Dog and @Mosby gave great points that I hadn't considered, thx for that. Do I think you're all absolutely 100% right that Meruelo is swimming in money? No, I don't. But, I do think there are two arguments to be had here, I hadn't considered the other side before.

Because of you all I think it's an open question whether Meruelo has money or not (100% ok if we disagree), before this conversation I had thought he was broke because he's been cheap as f*** and Forbes says he's not even worth half of what he says he is. At this point, not necessarily entirely convinced I'm wrong but it's absolutely possible - obvi there are other press valuations to consider.

Anyway. All of everyone's points are valid, and good discussion is good! Thx everyone

 

[MIGs Dog]

This is why these hockey boards are good. Thx everyone.

@RemoAZ all good over here. You and I have agreed, we've disagreed, whatever. You, @MIGs Dog and @Mosby gave great points that I hadn't considered, thx for that. Do I think you're all absolutely 100% right that Meruelo is swimming in money? No, I don't. But, I do think there are two arguments to be had here, I hadn't considered the other side before.

Because of you all I think it's an open question whether Meruelo has money or not (100% ok if we disagree), before this conversation I had thought he was broke because he's been cheap as f*** and Forbes says he's not even worth half of what he says he is. At this point, not necessarily entirely convinced I'm wrong but it's absolutely possible - obvi there are other press valuations to consider.

Anyway. All of everyone's points are valid, and good discussion is good! Thx everyone

As I'm sure you know, net worth and cash are two completely different things. It's possible he's relatively cash poor, but if he has assets (where net worth comes from) that are not already leveraged, then he has the ability to borrow.

 

[Jakey53]

Exactly, The danger in constantly repeating fabrications is that folks start to believe them.

This is so true.

 

[AZviaNJ]

@Mosby why do you say that? (both that he's a billionaire and also bottom 5 in NHL owners) -- Not trying to start a fight, I respect your posts (esp with that new avatar, props from here that's a great picture). Just curious about your thinking from over here.

From my side, the main evidence I have is: 1) Meruelo saying he's worth XXX amount and 2) Forbes saying he's not even close to worth that amount and 3) press reports of the Coyotes being super cheap WRT staff layoffs, re-negotiating existing contracts. So I think I trust a relatively unbiased Forbes all things considered.

Am not an expert by any means but imo Forbes magazine doesn't have an incentive either way... and obvi Meruelo would want to show he's wealthy so that he could buy / afford the operating costs of an NHL team so has every reason to exaggerate his wealth if possible

hey Surf - potentially different topics here:

1. Meruelo is a billionaire with a diverse portfolio of businesses that, while hit hard by the pandemic, had a strong track record of success. And Bettman’s initial introduction of Alex referenced he had financial means unlike any previous Coyote owner.

2. That said, by all indications Meruelo runs a very tight ship, frugally running his businesses and demands loyalty. Old school mentality. How that flies in professional sports in 2021 remains to be seen. We do know he “sure as sh*t” wants to win and has high expectations for success.

 

[MIGs Dog]

hey Surf - potentially different topics here:

1. Meruelo is a billionaire with a diverse portfolio of businesses that, while hit hard by the pandemic, had a strong track record of success. And Bettman’s initial introduction of Alex referenced he had financial means unlike any previous Coyote owner.

2. That said, by all indications Meruelo runs a very tight ship, frugally running his businesses and demands loyalty. Old school mentality. How that flies in professional sports in 2021 remains to be seen. We do know he “sure as sh*t” wants to win and has high expectations for success.

Being extremely wealthy and frugal often coincide.

 

[87turbobuick]

I hear Edmonton is a hard place to leave.

Not really, although it was 100 there yesterday and probably today which sets all time records with most homes not having A/C

 

[AZviaNJ]

As I'm sure you know, net worth and cash are two completely different things. It's possible he's relatively cash poor, but if he has assets (where net worth comes from) that are not already leveraged, then he has the ability to borrow.

Warren Buffet tips his hat…..

 

[Jakey53]

Not really, although it was 100 there yesterday and probably today which sets all time records with most homes not having A/C

I had no problem leaving Edmonton. It's a beautiful city for three months of the year, but grew tired of the long winters. Double taxation didn't help either.

 

[Jakey53]

As I'm sure you know, net worth and cash are two completely different things. It's possible he's relatively cash poor, but if he has assets (where net worth comes from) that are not already leveraged, then he has the ability to borrow.

During the plandemic AM continued renovations at the Sahara.

 

[MIGs Dog]

During the plandemic AM continued renovations at the Sahara.

Good...probably financed by secured debt. It would be dumb to pay cash when interest rates are so low. The richest companies in the World, with huge cash balances (Apple, Google, Microsoft, etc.), are borrowing money like never before.

 

[RemoAZ]

Good...probably financed by secured debt. It would be dumb to pay cash when interest rates are so low. The richest companies in the World, with huge cash balances (Apple, Google, Microsoft, etc.), are borrowing money like never before.

Rich people rarely use their own money. Like you said, especially when financing is so cheap.

 

[Jamieh]

I had no problem leaving Edmonton. It's a beautiful city for three months of the year, but grew tired of the long winters. Double taxation didn't help either.

Double taxation??

 

[GhostofYotesFan47]

I have to wonder why Garland is on the block. He showed great, by all accounts is a hard working and passionate person, seems loved by teammates. Unless the plan is to go full rebuild, or he's asking for an astronomical amount of money, why not just resign him? It has to be the money right? Either we have none or he wants too much? It could be BA wanting to rebuild but that just seems like such a bad idea to me. I've been all for a rebuild in the past but this time around I can't get behind it. We've spent too many years in the basement.

 

[Coyotedroppings]

I have to wonder why Garland is on the block. He showed great, by all accounts is a hard working and passionate person, seems loved by teammates. Unless the plan is to go full rebuild, or he's asking for an astronomical amount of money, why not just resign him? It has to be the money right? Either we have none or he wants too much? It could be BA wanting to rebuild but that just seems like such a bad idea to me. I've been all for a rebuild in the past but this time around I can't get behind it. We've spent too many years in the basement.

Depends on what the return is. He's small and his style of play is conducive to injury. I can see the temptation.... all depends on the return.

 

[Vinny Boombatz]

We need more "high energy" players, not less on this team. Garland is a fan favorite, because of his determination, grit and high energy. We've got low energy players in Kessel, Keller, Schmaltz, even Dvorak isn't really a high energy player.

 

[The Feckless Puck]

I have to wonder why Garland is on the block. He showed great, by all accounts is a hard working and passionate person, seems loved by teammates.

Obviously, I'm not Bill Armstrong. But if I had to guess, it's probably down to asset management. Garland will probably return the most of any of the Coyotes' roster assets in a trade, because he's a hard-working winger entering his prime with a promising scoring touch and a welcome bit of sand. That he's significantly undersized and a target for every headhunter in the league - and consequently will likely have a shorter career because of it - won't worry teams who can use him as a luxury forward. They can afford to overlook his real numbers and bank on his potential more than we can right now.

I'd rather keep him, personally - but only if his ask is reasonable, and only if we can put pieces around him that will shelter him.

 

[ParisSaintGermain]

I am not really stressed.

Garland has another year on his contract so BA can take a little time before sorting him out.

BA seems to me like a rational guy, one who does not want to use the cap he has not got yet.

So I suspect he is looking to move some money in the first instance (OEL etc.). Then I think Garland get signed - except if there is an overwhelming trade offer coming, because everyone aside from Chychrun is probably available which in my mind is the right way to make a roster better.

 

[The Feckless Puck]

Garland has another year on his contract so BA can take a little time before sorting him out.

Garland's an expiring (and thus far unqualified) RFA this year.

 

[ParisSaintGermain]

Garland's an expiring (and thus far unqualified) RFA this year.

Thanks for correcting Feckless, I did not express myself very well there!

What I was trying to say, poorly, is that Garland is not a UFA, and BA has the full summer to work this one out.

 

[GhostofTommyBolin]

Does ownership actually have deep pockets, though? I'm not convinced.

As for Garland, he's by far my favorite Coyote, but I'm curious to see what he'd be able to do on a team that, you know, actually protects guys like him.

 

[MIGs Dog]

Does ownership actually have deep pockets, though? I'm not convinced.

As for Garland, he's by far my favorite Coyote, but I'm curious to see what he'd be able to do on a team that, you know, actually protects guys like him.

Deep pockets or not, most owners want revenues to at a minimum match expenditures. If and when the team is ready for a playoff run, that's when they open the pocketbook and throw frugality to the wind. The 21/22 season isn't the time.

 

[Mangosteen]

Lots of very valuable 500 companies are having cash flow concerns. COVID has wrecked havoc on the economy.

 

[Jakey53]

Lots of very valuable 500 companies are having cash flow concerns. COVID has wrecked havoc on the economy.

What gives you that idea? Tip of the ice berg.