Shwan
Registered User
If only there was someone around, for four years, who was literally giving you sourced information about how he operates and was screwing over the team.
Oh well doesn't matter now
CXLVIII - Coyotes owner Alex Meruelo had 'productive' meeting with Phoenix mayor
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If only there was someone around, for four years, who was literally giving you sourced information about how he operates and was screwing over the team.
Oh well doesn't matter now
hangman005
Have I told you I miss Logan Thompson
Just completely spitting balling her, but could they be try ok kill three birds with one stone, the NHL buys the team of AM with the promise an NHL team will return if a suitable arena is in place and facilitates the sale and relocation. The suns owner agrees to renos at TS and purchases the team at a reduced price.... SLC gets it's team, The suns owner eliminates arena competition for the price of arena reno's and a token fee. and the NHL gets free of AM.
That said I can't see the NHL to give reason for locations to argue for a lower expansion fee because they got it. Also not sure how much eliminating a potential competitive threat from the proposed arena would be worth to the suns. But it was a thought that rattled around my puny puny brain.
That said I can't see the NHL to give reason for locations to argue for a lower expansion fee because they got it. Also not sure how much eliminating a potential competitive threat from the proposed arena would be worth to the suns. But it was a thought that rattled around my puny puny brain.
LT
Global Moderator
- Jul 23, 2010
- 42,813
- 14,516
Just completely spitting balling her, but could they be try ok kill three birds with one stone, the NHL buys the team of AM with the promise an NHL team will return if a suitable arena is in place and facilitates the sale and relocation. The suns owner agrees to renos at TS and purchases the team at a reduced price.... SLC gets it's team, The suns owner eliminates arena competition for the price of arena reno's and a token fee. and the NHL gets free of AM.
That said I can't see the NHL to give reason for locations to argue for a lower expansion fee because they got it. Also not sure how much eliminating a potential competitive threat from the proposed arena would be worth to the suns. But it was a thought that rattled around my puny puny brain.
I think if the Suns' owner was truly interested, he would've been involved long ago. Not sure why that would suddenly change.
TheLegend
Hangman's booking agent... he'll do anything.
I dunno….If only there was someone around, for four years, who was literally giving you sourced information about how he operates and was screwing over the team.
Oh well doesn't matter now
You have Friedman even admitting he got hoodwinked some.
Spring in Fialta
A malign star kept him
If only there was someone around, for four years, who was literally giving you sourced information about how he operates and was screwing over the team.
Oh well doesn't matter now
Yeah, I feel for the Coyotes fanbase but one thing I don't respect is how they went after everyone who was honest about the situation and ownership. That was lame.
I totally get that there are assholes trolls around but someone like Katie Strang didn't deserve the vitriol. It was so misplaced.
TheLegend
Hangman's booking agent... he'll do anything.
A Twitter friend dropped this last night.
The term “exit strategy” comes to mind.
The term “exit strategy” comes to mind.
Shwan
Registered User
Anyways,
If you guys want the real answers, @Llama19 has been giving it you.
All you have to do is get Craig or Friedman or whoever to get the league to answer 2 questions:
1. How much Coyotes debt is still on league books?
2. How is it being serviced?
Do you think it was a coincidence that the rumor floodgates opened like an hour after the US CPI index reading came out? Any economist with a brain knows that in reality rate cuts for 2024 are off the board, and I'm sure the league employs some smart accountants.
Also the fact that the league has to buy the team then sell it is a huge hint. In order for a clean bill of sale both the assets and liabilities of the franchise need to be on the same books, otherwise Smith could just cut Meruelo a check for the team and cut the league a check for the relocation fee.
This is why (never thought I'd be writing this in a million years lol) right this moment isn't exactly Meruelo's fault and why the League is offering him an expansion opportunity should he take it.
For all the hero worship Coyotes fans have given Alex for being an amazing businessman (ZIRP is a hell of a drug) I'm pretty sure I learned first year at W.P. Carey that "Paying ~9 figures of inherited debt on an asset I acquired" was on the things not to do list.
So if his options were pay the mountain of debt that wasn't his fault, or walk away with ~$400-500 million in profit for doing relatively nothing, I know which option I'd take.
If you guys want the real answers, @Llama19 has been giving it you.
All you have to do is get Craig or Friedman or whoever to get the league to answer 2 questions:
1. How much Coyotes debt is still on league books?
2. How is it being serviced?
Do you think it was a coincidence that the rumor floodgates opened like an hour after the US CPI index reading came out? Any economist with a brain knows that in reality rate cuts for 2024 are off the board, and I'm sure the league employs some smart accountants.
Also the fact that the league has to buy the team then sell it is a huge hint. In order for a clean bill of sale both the assets and liabilities of the franchise need to be on the same books, otherwise Smith could just cut Meruelo a check for the team and cut the league a check for the relocation fee.
This is why (never thought I'd be writing this in a million years lol) right this moment isn't exactly Meruelo's fault and why the League is offering him an expansion opportunity should he take it.
For all the hero worship Coyotes fans have given Alex for being an amazing businessman (ZIRP is a hell of a drug) I'm pretty sure I learned first year at W.P. Carey that "Paying ~9 figures of inherited debt on an asset I acquired" was on the things not to do list.
So if his options were pay the mountain of debt that wasn't his fault, or walk away with ~$400-500 million in profit for doing relatively nothing, I know which option I'd take.
Now these are the kind of gems I come to BOH for.
If the CEO/President getting into his own startup amidst this mess doesn't scream "its over" I dunno what will
cbcwpg
Registered User
Name me one owner of this franchise that wasn't a grifter.
hangman005
Have I told you I miss Logan Thompson
He may not be truly interested, and realistically he probably isn't, but in my hypothetical it may come down to owning the yotes is the price to pay to avoid another competing arena, especially if they feel it's likely to happen. For years the yotes have been spinning their wheels so the thing that might have changed is they feel it could get traction.
My hypothetical might be better suited for lack of better term political thriller that's be written about the whole saga
TheLegend
Hangman's booking agent... he'll do anything.
I follow his Twitter account and the last several months he’d be posting about all these “Latinos and sports” events he’s participated in.
Never many mentions of the Coyotes other than him being CEO and really didn’t connect much to it.
Until now.
ponder719
Abols to Abols, Dust to Dust
The franchise? Ben Hatskin seemed to be in it for legit reasons.
The team in Arizona? Not sure anyone clears that hurdle. Technically the league; they aren't grifters, they should just never be owners because of conflict of interest and the inability to justify spending money on a team.
GKJ
Global Moderator
- Feb 27, 2002
- 195,211
- 44,907
They’ve been hearing about this stuff for 20 years, can’t blame them for getting angry about it while the league always found a way. The issue this time was that they ran into an owner who was willing to use their insistence and/or hubris against them. Business became emotional, and in a world of sharks it’s a dangerous place to be.
TheGreenTBer
Paula Dean does bath salts
- Apr 30, 2021
- 10,187
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Jesus. That...is quite damning. Holy crap.
I also had no idea that XG was the only Latino running a major US sports team.
Spring in Fialta
A malign star kept him
I get being angry, especially at the trolling. I sincerely do. It was a shit situation and a lot of folks were dicks about it. By all means, get into it with the idiots. I'm more talking about screaming that every negative article from a journalist was a hit piece and casting aspersion on their character and/or credibility. I think that was in exceptionally poor form. Especially when it was clearly a false prophet at the helm of the team.
Fidel Astro
Registered User
As an asshole troll (on the topic of the Coyotes) myself, I agree. Strang's reporting has been excellent and thorough on this topic, yet she gets shat all over by a certain portion of that fanbase every time she writes anything (accurately) about the team's struggles.
I get it -- I don't like when there's negative press about the Jets, either -- but there's a world of difference between "this is a hit piece" and "this is a well-written story that is shining a light on some truths that make me uncomfortable, personally".
Don’t worry they’ll find another team to attsck
Your denying that the Canadian media hasn’t been going the coyotes and any other sunbelt team?
If you can't see the difference between how Meruelo operates vs the 31 other teams, I dunno what to tell ya
That's interesting for sure. I always thought XG and AM were pretty intertwined but this would suggest otherwise, with how he's distancing himself professionally from this mess.
If he's not a "Meruelo guy" as I originally thought, having President/CEO of an NHL team is a pretty impressive accomplishment even with this mess that's somewhat over his head.
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No offense, as a former Browns fan, and an Oilers fan who almost lost his team in 1997, I know your situation sucks. But you've been making a lot of excuses for AM for months when people like myself have pointed out his f**k ups.
Just looked at XG's LinkedIn myself.. he's been a Meruelo guy since 2010 working as Chief Investment Officer for Meruelo's investment group... LOL
ponder719
Abols to Abols, Dust to Dust
If I was standing on the deck of a ship, and was suddenly up to my ankles in water, I'd probably be looking for a lifeboat, too.
TheLegend
Hangman's booking agent... he'll do anything.
I think that could have been a factor that lulled the league into taking Meruelo in as an owner.
Ernie
Registered User
- Aug 3, 2004
- 13,567
- 3,636
With the leak that the Coyotes haven't been paying their hotel bills, it really makes you wonder what the actual state of Meruelo's finances are.
It's just so braindead to be pulling those moves while you're trying to sell the idea you can build a $3bn project. I know that Katie Strang made a case that stiffing suppliers is just his way of doing business, but to do this now, at this juncture?
It really makes you wonder just how over-leveraged Meruelo is. He's made a "successful" business of buying distressed assets, but how are those assets actually doing?
It's just so braindead to be pulling those moves while you're trying to sell the idea you can build a $3bn project. I know that Katie Strang made a case that stiffing suppliers is just his way of doing business, but to do this now, at this juncture?
It really makes you wonder just how over-leveraged Meruelo is. He's made a "successful" business of buying distressed assets, but how are those assets actually doing?
TheGreenTBer
Paula Dean does bath salts
- Apr 30, 2021
- 10,187
- 12,480
Yeah now that I think about it, I once worked for an organization that had some warning signs so I had worked behind the scenes to find a backup, just in case. It was one of the few smart things I've done in my life because I shit you not, on the very day my company closed, I received an offer from this new company. No lie.
TheLegend
Hangman's booking agent... he'll do anything.
He helped broker the sale for Meruelo’s hotel/casino property in Reno.
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