Killion
Registered User
- Feb 19, 2010
- 36,763
- 3,217
.....If a team couldn't make it under those conditions it never will.
Interesting suggestions mac, unfortunately for the long suffering fans in Phoenix, the team & the COG the NHL is not in the business of owning arenas (even temporarily). Hypothetically, even if they did as you suggest, there is no way they'd get $300M for the building & the team. Its even questionable that the Parking Revenues would be enough to cover the debt servicing charges on the existing bonds.
They'd still have to receive the parking surcharge on every ticket sold and apply that to the debt, and if they retained the parking rights, the owner of the team / arena manager would suffer. According to the GWI, the COG cant purchase the parking rights as they already own them, thus eliminating their ability to purchase them back from the team using monies derived through a bond issue, be it $100M or $50M.
I think your onto something though, if the team retains (and charges for) the parking, continues to pay the ticket surcharge tax to the COG & receives a reasonable Arena Mgmnt Contract; the CFD executed throughout Westgate, the TNSE Relo Fee applied to the Coyotes debt (along with the eventual Moyes settlement) then were within range of closing a sale.
There is nothing 'Yotes related on the Agenda for Tues' (6/14) Council Meeting - there is not even an executive session scheduled.
The next meeting is a Council Workshop on 6/21.
Isnt the NHL's BOG's Meeting also scheduled for the 21st?. I was hoping upon hope that the COG wouldve' made far greater progress than what these reports suggest, the league in a position to discuss & approve an offer to purchase by that time. It would appear instead that though there has been lots of back & forth between Beasley & Hulsizer, Council is still in the dark, and with Summer Break nearly upon us, the Draft, UFA & RFA season virtually upon us, this could just get really really ugly if God forbid something doesnt happen & fast. I know we've all been saying that for months upon months now, but really, this is just beyond critical, $25M "Arena Management" fee or not....