What's Next for the Coyotes?

What's the saying? Put your money where your mouth is? Roenick puts his big mouth where money should be:

http://www.ottawasun.com/2012/02/10/nhl-notes-roenick-joins-bid-to-buy-coyotes

I'm sure this topic will heat up very soon... Glendale is due to make a payment to the NHL very soon... and they may not even be able to make it... Glendale is in some serious debt problems and is in the process of laying off staff and raising taxes to address the issue. And they're propping up the Coyotes in the mean time... residents can't be too happy about that.

Some updates on the situation here:

http://www.winnipegfreepress.com/breakingnews/glendale-keeps-paying-and-paying-and-paying-152470515.html

The new ownership will have to work out a lease deal with the city and it will have to get approved and have the blessing of the Goldwater Institute.

How long can this continue?

Yotes will be in Quebec by July 1.

The whole situation is bat-Dung challenged. If no one will buy the franchise because they will have to keep it in Phoenix, then for the love of god, allow the franchise to be moved. It's not very complicated.

Maybe with the team's playoff success someone will come forward who will keep it in Phoenix…but that's doubtful. So dumb.

Glendale seems to think that if the team moves away, it will hurt them more financially then keeping them in town and propping them up. I'm not sure what numbers they are using to get at that... but no matter how you slice it... it's a mess.

I believe they spent $400M on that arena, if the Coyotes move it will sit empty.

They don't even charge for parking there, it's all free, no wonder they don't make any money(not that anyone goes to the games anyway)

didn't they announce that the team had been sold already?
and if they were sold impossible that they go to quebec city as the only way it goes to quebec is if Pierre carl peladeau (owner of Quebecor media) is the owner. he's putting up a big part of the money for the new stadium. he's the next owner for quebec. no other way around it.

Yeah I think Bettman announced they had some sort of "intention to complete a sale". The whole thing is still a Dung show, though, and I don't see the team becoming profitable while staying in Phoenix. They had a good year, and still had crappy attendance in the regular season.

Bettman is just pretending there are other interested parties in buying the Coyotes in order to run up the asking price from Quebec.

The announcement by Bettman was for a tentative deal to sell them...

http://www.winnipegfreepress.com/breakingnews/person-with-knowledge-of-the-situation-says-coyotes-sale-announcement-expected-before-game-150457145.html

NHL commissioner Gary Bettman announced Monday that the league has reached a preliminary agreement to sell the team to a group headed by former San Jose Sharks CEO Greg Jamison.

Bettman said the league and the group will work toward reaching a formal sales agreement while Jamison negotiates with the city of the Glendale on a new lease for Jobing.com Arena. Bettman said he hopes to have the sale completed in a matter of weeks, not months.

"We didn't have a formal announcement to make; this is more of an update to where things are," Bettman said before Phoenix and Nashville played Game 5 of their best-of-seven playoff series. "But we think things are on track and see light at the end of the tunnel. This is a path, based on everything we know, we're comfortable pursuing."

Was a bit premature... as they still need to iron out the lease deal.

It will be curious to find out what the details are when this gets done. If there is some clause that allows them to move the team after x number of years or under certain conditions.

I couldn't imagine anyone buying the Coyotes without an "out" clause after x number of years. It has to be in there.

tim1_2 wrote:I couldn't imagine anyone buying the Coyotes without an "out" clause after x number of years. It has to be in there.

What I've heard so far is that Jamison will get an insane fee to manage the arena which will essentially pay him to buy the team.

SeawaySensFan wrote:
What I've heard so far is that Jamison will get an insane fee to manage the arena which will essentially pay him to buy the team.

Wouldn't the Goldwater Insititute shoot that one down ?

Hoags wrote:

SeawaySensFan wrote:
What I've heard so far is that Jamison will get an insane fee to manage the arena which will essentially pay him to buy the team.

Wouldn't the Goldwater Insititute shoot that one down ?

That's going to be the likely situation... I think he's asking for $17M/year and the city feels that $11M is the max... I'm sure the Goldwater Institute would prefer $0M.

Glaendale City Council will to vote tomorrow on the high fees...

http://www.kpho.com/story/18578444/glendale-to-approve-millions-in-jobingcom-arena-fees

Goldwater Institute will of course have their say...

Via: http://www.sportsnet.ca/hockey/2012/05/23/glendale_council_inches_toward_coyotes_lease/

"GLENDALE, Ariz. -- The Glendale City Council has approved a preliminary budget that includes $17 million to be paid to the prospective buyer of the NHL's Phoenix Coyotes for operating costs for the city's Jobing.com Arena.

The 4-3 vote on Tuesday night was the first in a series of moves necessary before the council approves a new lease for the arena.

The council has two more preliminary budget hearings before taking a final budget vote. No date has been set for the council to consider the new lease, but it is expected to do so in the next few weeks.

The NHL has reached a tentative deal to sell the team to Greg Jamison, former CEO of the San Jose Sharks, contingent on a new lease agreement with Glendale."

Moving forward...

Moving forward? Hardly. Lateral move at best. Still staying in Phoenix.

No way to they let the tax payers hold the bag for a team that's going to lose millions, and million, and millions.

Quebec City will have their team in very short order.