CXLVIII - Coyotes owner Alex Meruelo had 'productive' meeting with Phoenix mayor

[bossram]

I think the league is good if that happens. I highly doubt they want him back k anyway.

Pretty clearly a quid pro quo between him and the league, and fulfils Meruelo's long-term plan of selling the team at a profit without actually doing anything.

$1B from the league for him to go away and stop embarrassing them, so they can run an actually legitimate franchise.

 

[CHRDANHUTCH]

Pretty clearly a quid pro quo between him and the league, and fulfils Meruelo's long-term plan of selling the team at a profit without actually doing anything.

$1B from the league for him to go away and stop embarrassing them, so they can run an actually legitimate franchise.

already sold it.... the only thing he owns is AHL Tucson.....the NHL Brokered the sale.... not AM..... Blame the NHL..... not the Coyotes

 

[bossram]

already sold it.... the only thing he owns is AHL Tucson.....the NHL Brokered the sale.... not AM..... Blame the NHL..... not the Coyotes

Where did I say anything to the contrary?

I know he sold it. I literally said so. I know the NHL brokered the sale, which is why I keep characterizing the deal as between him and the NHL.

What do you think you are adding here?

 

[aqib]

Pretty clearly a quid pro quo between him and the league, and fulfils Meruelo's long-term plan of selling the team at a profit without actually doing anything.

$1B from the league for him to go away and stop embarrassing them, so they can run an actually legitimate franchise.

I wonder if the NHL was bankrolling the Coyotes and that was how they were able to push him into doing this deal.

 

[bossram]

I wonder if the NHL was bankrolling the Coyotes and that was how they were able to push him into doing this deal.

They didn't "push" him into this deal.

Meruelo's plan all along was to sell the team at a profit, to ride the wave of pro sports value increases.

He embarrassed the NHL enough that they caved and just gave him the payout he wanted. He's laughing to the bank with his $1B.

 

[awfulwaffle]

They didn't "push" him into this deal.

Meruelo's plan all along was to sell the team at a profit, to ride the wave of pro sports value increases.

He embarrassed the NHL enough that they caved and just gave him the payout he wanted. He's laughing to the bank with his $1B.

Craig Morgan has stated before that he's walking away with a lot less than $1B.

 

[bossram]

Craig Morgan has stated before that he's walking away with a lot less than $1B.

Guess Meruelo is finally paying his bills.

 

[aqib]

Guess Meruelo is finally paying his bills.

You can't skip out on obligations to the bank and the NHL like you can small businesses...

 

[TheLegend]

 

[aqib]

Zero bidders competing with Mereulo or just zero bidders. If he doesn't even show up to bid that would be the ultimate hilarity

 

[TheLegend]

Zero bidders competing with Mereulo or just zero bidders. If he doesn't even show up to bid that would be the ultimate hilarity

Brahm corrected himself in a later tweet. There is currently one registered bidder..... Alex Meruelo.

Other bidders can register right up to the day of the auction. Provided they have a $14 million cashier's check in hand.

Richard Rodier recently mentioned his source told him three other bidders are going to be in. Will they show up?? Who knows??

Example: There was an auction last month for a 300+ acre parcel in North Phoenix (near the new multi-billion dollar TMSC semiconductor chip plant) and the Phoenix Business Journal published an article describing how three big developers were going to be in on the auction.

I checked the State Land Trust site.... That auction closed with a single bid from the original applicant for the opening bid.

Now if you want even more to speculate on..... there was a rumor floating around a while back that Meruelo possibly has multiple investors on board with him for this parcel.

There's still people running rumors here locally that Matt Ishiba is going to be in on this.

We'll find out on June 27th.

 

[Voight]

Wouldn't be Ishibas best idea to partner with Mereulo.... thought he was smarter than that.

 

[aqib]

Wouldn't be Ishibas best idea to partner with Mereulo.... thought he was smarter than that.

Unless he has some sort of clause that lets him buy-out Mereulo.

Now I'm speculating but I think that the league was Mereulo's bank for the Coyotes deal and he probably tripped some covenant in the loan and that's how the league was able to push him into the deal to sell and retain this option.

 

[CHRDANHUTCH]

Wouldn't be Ishibas best idea to partner with Mereulo.... thought he was smarter than that.

why would the Suns partner now knowing the history between the two organizations is what led to the scenario of NHL hockey leaving Arizona? What changed in Phoenix ownership that would've prevented the sidebar to either Glendale/Tempe/Mullett.....

 

[aqib]

why would the Suns partner now knowing the history between the two organizations is what led to the scenario of NHL hockey leaving Arizona? What changed in Phoenix ownership that would've prevented the sidebar to either Glendale/Tempe/Mullett.....

I mean you have a new owner now. We don't know how he feels about hockey.

 

[aqib]

Whether he does or doesn’t we’ll find out in about nine days.

In the meantime if you want to get all giddy over articles that mean nothing then help yourself. Because that’s what megathread does.

I’m not going to bother unless there’s something that’s actually noteworthy.

Meruelo also said in the press conference that nothing was going to happen for 60 days. So if you want to be technical this is another broken commitment.

 

[TheLegend]

Meruelo also said in the press conference that nothing was going to happen for 60 days. So if you want to be technical this is another broken commitment.

Well being "technical" it depends on when the 60 days began.

 

[objectiveposter]

I doubt Ishbia would even be allowed to partner with Muerelo to build a new arena... it would be a conflict of interest since he already has a long term deal for the suns arena.

 

[Voight]

I doubt Ishbia would even be allowed to partner with Muerelo to build a new arena... it would be a conflict of interest since he already has a long term deal for the suns arena.

Depends on the language in his lease, but I dont see why he wouldn't be allowed to invest his money in a separate development.

His lease also goes for another 13 years. So they're not really in danger of losing the Suns to another arena.

https://www.cnbc.com/2019/11/21/phoenix-suns-unveil-renderings-of-230-million-arena-renovation-project.html

 

[objectiveposter]

Depends on the language in his lease, but I dont see why he wouldn't be allowed to invest his money in a separate development.

His lease also goes for another 13 years. So they're not really in danger of losing the Suns to another arena.

https://www.cnbc.com/2019/11/21/phoenix-suns-unveil-renderings-of-230-million-arena-renovation-project.html

Ishbia operates the arena...which is owned by the city of phoenix. It would be a massive conflict of interest if Ishbia built a private arena that would be competing with the city owned arena to book shows and events.

 

[TheLegend]

Guess I should clarify things a little....

Ishiba isn't being connected to Meruelo. It's just a rumor that's been running around that he could be in or part of a competing bid.

He did meet with Gary Bettman the week of, or prior to, the announcement the Coyotes were going to Utah, but the more educated sources say it's highly unlikely he'd pay the $1 billion asking price if Meruelo loses his rights and the market opens up..

Remember this is just a chunk of undeveloped land. There's plenty of incentive to build something other than an arena on it. The zoning also isn't currently right for it (even though the Meruelo Group thinks it is) and that introduces another can of worms if city action is required for it.

 

[GKJ]

It’s not only the highest bid, right? It’s the *best* bid?

 

[TheLegend]

It’s not only the highest bid, right? It’s the *best* bid?

Yes.

There’s a whole series of conditions attached to the sale including timelines for getting the required infrastructure in…. not just sitting on the property… etc

 

[Skidooboy]

I wonder if the NHL was bankrolling the Coyotes and that was how they were able to push him into doing this deal.

this X 1000000


there has been something very fishy about the Muerello deal from the beginning....

Rumors the NBA blackballed him from ownership, the way the team has been such a shitshow with unpaid bills, amateurish business mistakes
and the crazy deal brokering? why would the NHL broker the deal? in the past? in every other market? it's been business deals between the owners and the league is the oversight and approval body....this time they almost made the sale before Murello even had a say.....

A lot of this heated up after Xmas when the NHLPA started talking about Mullet as being a non-starter for them....

NHLPA's Walsh blasts Coyotes arena situation

NHLPA Exec Dir Marty Walsh “blasted Coyotes ownership” on Friday for “failing to meet multiple deadlines to build an NHL-worthy arena in the greater Phoenix area, and also for declining to meet with player representatives to discuss the team’s future in the Valley.”

www.sportsbusinessjournal.com

which for sure forced the NHL's hand....but the way the sale went down...

it's a hunch...but it sure seems like Muerello was NOT really 100% in charge and might have been window dressing for what was still a team being primarily financed by the NHL itself., with Muerello simply a minority share holder and operating manager.........Once he missed bills, failed to secure the arena...I think the NHL just wanted him gone.

 

[QuizGuy66]

Nope….

Screenshot for the link…

View attachment 882307

Uh so when I clicked on the link instead of this history of the Coyotes I got this....