Phoenix LXXX: Is there another way out?

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rj

Registered User
Jan 29, 2007
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Indiana
RSE get the option of giving the team back for $40 million after five years.

so the $85 million NHL loan is nonexistent money

think about it, if you're Renaissance, unless you win the Stanley Cup a couple times, what would you do come 2018-19 season, sell the team back to the NHL for 89% of your original investment or be on the hook for $85 million plus the Fortress loan?
 

JimAnchower

Registered User
Dec 8, 2012
1,465
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Phoenix LXXXI: Getting talked about at Glendale Council Meetings!

Phoenix LXXXI: Special Shout Out to Kenneth Sturgis (like South Dakota)
 

cbcwpg

Registered User
May 18, 2010
20,571
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Between the Pipes
so the $85 million NHL loan is nonexistent money

think about it, if you're Renaissance, unless you win the Stanley Cup a couple times, what would you do come 2018-19 season, sell the team back to the NHL for 89% of your original investment or be on the hook for $85 million plus the Fortress loan?

It's called a Lease. Just didn't think you could do it with sports franchises. Every 5 years the NHL will find someone else to lease it for the next 5 years.

You get to twitter that you are the owner of an NHL team for 5 years, big man on campus, and then you give it back.
 

OthmarAmmann

Omnishambles
Jul 7, 2010
2,761
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NYC
Phoenix LXXXI: The NHL leaked details of how crappy and weak their 'deal' is to put pressure on the city council? Right. Okay.
 

knorthern knight

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Mar 18, 2011
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GTA
And there still isn't. And if there's no viable U.S. market out there not presently being served, what does that say for Bettman's stewardship of the league? If you're going to say he's not at fault, fine, who is at fault then?
The NHL totally shot themselves in the foot with revenue linkage, a couple of CBA's ago. And it may be Bettman's fault; I don't know who came up with the idea during negotiations. The result of revenue linkage is an NHL team cannot operate as a tenant in an arena. They need to be at least co-owners (e.g. Toronto and Dallas), and get at least some of the non-hockey revenue to make money.

In many cases, the arena owner/manager is better off without the NHL team in the arena, e.g.
  • Atlanta
  • KC (doesn't want NBA, either)
  • Portland
  • Houston
and there are probably others.
 

Cryogenic Man

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Mar 6, 2012
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I believe the NHL is in a real bind here.

The NHL can still relocate the team, what's another 10 days? it will not make any difference to one's that are prepared. I gotta believe PKP and his team are well prepared. If we believe this may happen for them, then they must be way more than any of us can fathom.

It`s obvious Rennaisance does not have the financial wherewithal to carry on here even with the NHL's help, new revenus sharing program and the likes. They have to need at least $12m /yr to make it work. They by all accounts are just not going to get it, so the NHL has to have something up their sleeve. Have to.

So what's the hold up? public opinion? they have to make it seem like they gave themselves enough time between they're last public disclosures and the next one to be able to say that they had enough time to negotiate elsewhere?

I just don`t see them holding on to the team for another year,

Will you relocate the team this year Gary?

"I hope not to" was the answer.

So it has to be in the cards. It wasn't "We are still commited to keeping the team here with no deadline set, it will take the time it will take"

So I have to imagine that this plays out until June 10th. Any later and then I'd say it's too late.

Forget today's date. The NHL has no obligation to hold on to this date for relo, whether they said it in BK court or not.

So the RFP`s are unsealed this week-end. I imagine Glendale will call Renn and the NHL and let them know they will go for another offer. Everything falls at that point, and the NHL goes to relo plan b. Is that the most logical route?

Please hold on to those "yeah but everything about this has been illogical" comments ;)
 

sipowicz

The thrill is gone
Mar 16, 2011
32,233
43,165
Phoenix LXXXI: Sweetheart Deal ( I kid you not) :sarcasm:

Thanks to our friends on another Coyotes ownership thread who actually believe it to be true, obviously not Glendale residents.
 

Brodie

HACK THE BONE! HACK THE BONE!
Mar 19, 2009
15,578
624
Chicago
Phoenix LXXXI: The Hollow Men

This is the way the world ends: This is the way the world ends: This is the way the world ends: Not with a bang but a whimper
 

Killion

Registered User
Feb 19, 2010
36,763
3,224
Phoenix LXXXI; La Fin du Monde / The End of the World...

La%2BFin%2BDu%2BMonde%2BPost.jpg
 

wunderpanda

Registered User
Apr 9, 2012
5,603
590
I have a new theory, this alleged proposal was merely a scheme designed to force Fortress into a repo of the team from Renaissance, thus giving the Coyotes stable ownership. :D
 

rt

Clean Hits on Substack
Phoenix LXXXI; La Fin du Monde / The End of the World...

La%2BFin%2BDu%2BMonde%2BPost.jpg

Drank one of those puppies last pay day. Thank to your fricken' picture, now I'm going to have to sink another eight bucks into a bottle of beer tonight. Haha. I just have to remind myself that it's 750ml just like a bottle of wine, about 10% ABV which is comparable to a bottle of wine, and it's much cheaper than a drinkable bottle of red.

It's getting hard to justify being an alcoholic with no money and expensive (by which I mean more expensive than Miller Lite and Boone's Farm) taste in booze.
 

manisback121

Registered User
Feb 28, 2008
3,288
1
Drank one of those puppies last pay day. Thank to your fricken' picture, now I'm going to have to sink another eight bucks into a bottle of beer tonight. Haha. I just have to remind myself that it's 750ml just like a bottle of wine, about 10% ABV which is comparable to a bottle of wine, and it's much cheaper than a drinkable bottle of red.

It's getting hard to justify being an alcoholic with no money and expensive (by which I mean more expensive than Miller Lite and Boone's Farm) taste in booze.

What about steel reserve or hurricane?
 

DarthMonty

F*** CANCER
Aug 21, 2011
3,112
335
Optimismville
I have no idea how this saga will play out, and frankly, I'm confused and amazed by the seemingly illogical decisions at the hands of the NHL and the CoG lo these past four years.

Logic does not factor in the Coyotes history, apparently.

The most logical course of action for Glendale would've been to accept Jim Balsillie's offer in bankruptcy court. The NHL, after purchasing the team from bankruptcy court, should have sold the team to Quebecor for the huge premium that was apparently on offer, gone the expansion route for Seattle, Portland, northern California or wherever else, but illogically tried to hold the City of Glendale hostage, and blackmail the city into funding the team with monies that were better spent elsewhere.

What has been niggling at me for the past several days is the thought that somewhere in this whole saga is the reason why the NHL is so resistant to relocating the franchise. I cannot divine said reason, but the NHL seems desperate, almost irrational, in this quest to keep the dogs in the desert. There must something playing out behind the scenes that only the upper echelons of the NHL are privy to, that is manifesting itself in the Coyotes situation. I know many people have offered suggestions and "conspiracies" of the NHL's motive(s), but none of it has, or can, be proven, and none of it ties together all the various threads.

What is the NHL's end game here? If we knew the answer, I'm certain all of the machinations of the past four years would make more sense.

Or, is it just that Bettman, the NHL BoG and the CoG have dug the hole so deep nobody can see out any more?

I give this two more weeks 'til resolution. I suspect the 'Yotes will remain in the desert for the next year; just my instinct, though.
 
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