No deadline set for Coyotes new franchise

[puckhead]

not to mention those poachers that fly down from western canada when their team rolls in to play a game and fills that glendale ghost-town

probably 30-40% support for the visiting team when I went down to see them.
the barkeep at the Yardhouse said that when the Canadian teams visit, it's like chiristmas for the bar. No other night of the year comes close to the amount of business.


and still the woman at the ticket counter had no idea if there were any promotions, nor who was even playing that night.
the teams own online ticket exchange couldn't take a credit card with a CDN billing address
I had to use craigslist to get a deal on tickets.

 

[jstewismybastardson]

Glendale facing its worst budget woes

 

[dash]

Glendale facing its worst budget woes

If the Coyotes weren't draining enough funds from the city's coffers (from jstew's link)


And then there is another sports deal that will soon add an expense to the city's operating fund. The city borrowed $200 million in 2008 to build Camelback Ranch Glendale, the spring-training park for the Los Angeles Dodgers and the Chicago White Sox.

The commercial development expected to spring up to generate sales-tax revenue and help pay off the debt never materialized. The city has been using borrowed money to pay the debt, but that will run out in more than a year.

Under the current ballpark-payment plan, the city would owe $13 million in the 2013-14 budget year. City staff says they plan to refinance the debt to lower the payments, but the mayor is doubtful based on unsuccessful refinancing efforts earlier this year.

 

[forty_three]

And then there is another sports deal that will soon add an expense to the city's operating fund. The city borrowed $200 million in 2008 to build Camelback Ranch Glendale, the spring-training park for the Los Angeles Dodgers and the Chicago White Sox.

Can we just go ahead and give Arizona back to the Spanish?

What the hell is wrong with those people?

 

[dash]

Dave Naylor tweet:

Gary Bettman says there's no Plan B in case the Coyotes deal doesn't close in Glendale. Given the history ... I have to ask ... really??????

 

[dash]

Glendale business leaders oppose city tax increases:

Council may consider an increase to fees for Glendale Parks, Recreation and Library Services. The Glendale City Council will hold a public hearing to approve the City's Fiscal Year 2013 budget, including fee increases, if any. Council would take final action to adopt fees applicable to Glendale Parks, Recreation and Library Services at the June 26 meeting.

Chances are there will be several business and civic leaders at the June 12 public hearings. One of them could be David Kimmerle, owner/manager of Sanderson Ford. He is part of a group of 10 business and civic leaders who met May 15 to form a committee to raise money, hire legal counsel and organize for a referendum “if it becomes necessary to stop the Glendale City Council from raising city sales taxes and property taxes to subsidize the Coyotes.”

Kimmerle said the group believes any increase would be counterproductive.“It would drive business from Glendale, reducing the total sales tax collected,” Kimmerle said. “It would put our present businesses in an uncompetitive position. If Glendale raised the sales tax, someone could save $300 or more on anew or used vehicle by driving to Phoenix or Peoria. Anyone could save money by simply crossing a street on his or her next shopping trip.”

Business leaders oppose city tax increases - Glendalestar.com: News

 

[Slimpikins]

This is a total train wreck. Can't we just give them to Quebec already?

 

[dash]

$25 million NHL payment will come from Glendale utility fund

Glendale's second $25 million pledge to the National Hockey League largely came from city water and sewer funds, which is not what city administrators said would happen.

Actually, city staff said the money wouldn't be needed at all because they expected the Phoenix Coyotes to be sold. If that had occurred, the pledge to help the NHL cover team losses during the 2011-12 season would have been moot.

That didn't happen and the biggest chunk of the pledge, $15 million, was siphoned from the utility fund into an escrow account awaiting the NHL's bill, which is expected any day.


Coyotes update

The Glendale City Council is expected to vote in the coming weeks on agreements with a potential Phoenix Coyotes buyer Greg Jamison regarding the lease and management of the city-owned Jobing.com Arena.

Glendale denied The Republic's request for copies of draft agreements provided to council in late May.

The request was made to provide details on the costs taxpayers are expected to bear, including $17 million in the coming fiscal year. The Republic noted the state's public-records law does not exempt draft agreements from disclosure and that residents need time to review and offer feedback on the complex, 20-year deal.

City officials said they would not release the documents because they are the subject of ongoing negotiations and it would not be in the city's best interest to release them.

As it stands, the city is expected to release the deal to the public by 5 p.m. June 8 ahead of a Tuesday council vote. That would provide taxpayers just two working days to review and offer feedback to elected officials on the deal.

 

[Eddie_Shack]

$25 million NHL payment will come from Glendale utility fund

Glendale's second $25 million pledge to the National Hockey League largely came from city water and sewer funds, which is not what city administrators said would happen.

Actually, city staff said the money wouldn't be needed at all because they expected the Phoenix Coyotes to be sold. If that had occurred, the pledge to help the NHL cover team losses during the 2011-12 season would have been moot.

That didn't happen and the biggest chunk of the pledge, $15 million, was siphoned from the utility fund into an escrow account awaiting the NHL's bill, which is expected any day.


Coyotes update

The Glendale City Council is expected to vote in the coming weeks on agreements with a potential Phoenix Coyotes buyer Greg Jamison regarding the lease and management of the city-owned Jobing.com Arena.

Glendale denied The Republic's request for copies of draft agreements provided to council in late May.

The request was made to provide details on the costs taxpayers are expected to bear, including $17 million in the coming fiscal year. The Republic noted the state's public-records law does not exempt draft agreements from disclosure and that residents need time to review and offer feedback on the complex, 20-year deal.

City officials said they would not release the documents because they are the subject of ongoing negotiations and it would not be in the city's best interest to release them.

As it stands, the city is expected to release the deal to the public by 5 p.m. June 8 ahead of a Tuesday council vote. That would provide taxpayers just two working days to review and offer feedback to elected officials on the deal.

Sounds like bullshit to me...

/smells like it too!

 

[puckhead]

#Coyotes deal has #Glendale pay roughly $300M in arena management fees to Greg Jamison plus $24M million in capital funding over 20 years.


well, I guess $15m/ year for 20 years is less than $25 million forever.

 

[dash]

I'm usually not the cynical type, but this has Ice Edge part deux written all over it. There is considerable talk out there that Jamison doesn't even have investors lined up yet. However, that didn't stop Bettman from going in front of the mic and saying he expects a deal to be finalized and Glendale City Council will fall for it again hook, line, and sinker (although to be fair, at this point, they really don't have much of a choice).

Yes, they'll have the Coyotes in Glendale for one more season and we'll get updates saying the deal is moving forward and investors are lining up to keep the team in Glendale long term. Then, all of a sudden, say around early February 2013, the investors have suddenly all disappeared and the future for the Coyotes in Glendale looks bleak again. Jamison for all his hard work will likely get a good chance to own the Seattle Metropolitans in their brand spanking new building in 2014-2015 (they can play the 2013-2014 season in Key Arena).

 

[Eddie_Shack]

I'm usually not the cynical type, but this has Ice Edge part deux written all over it. There is considerable talk out there that Jamison doesn't even have investors lined up yet. However, that didn't stop Bettman from going in front of the mic and saying he expects a deal to be finalized and Glendale City Council will fall for it again hook, line, and sinker (although to be fair, at this point, they really don't have much of a choice).

Yes, they'll have the Coyotes in Glendale for one more season and we'll get updates saying the deal is moving forward and investors are lining up to keep the team in Glendale long term. Then, all of a sudden, say around early February 2013, the investors have suddenly all disappeared and the future for the Coyotes in Glendale looks bleak again. Jamison for all his hard work will likely get a good chance to own the Seattle Metropolitans in their brand spanking new building in 2014-2015 (they can play the 2013-2014 season in Key Arena).

As much shit as we give the Coyotes fans (or lack thereof), they are the ones who are really getting jerked around the most (well... if I was a Glendale taxpayer, I wouldn't be too happy either, but I digress). I know they aren't a numerous bunch, but if I was a hockey fan in Phoenix, I would be pretty pissed at this point. It's like a band-aid, either leave it on or rip it off. Don't slowly pull it off your skin, it's going to hurt much more.

 

[dash]

As much shit as we give the Coyotes fans (or lack thereof), they are the ones who are really getting jerked around the most (well... if I was a Glendale taxpayer, I wouldn't be too happy either, but I digress). I know they aren't a numerous bunch, but if I was a hockey fan in Phoenix, I would be pretty pissed at this point. It's like a band-aid, either leave it on or rip it off. Don't slowly pull it off your skin, it's going to hurt much more.

Do they have passionate hockey fans in Glendale/Phoenix/Scottsdale?!? I'm sure they do, the problem is they don't have enough of them willing to lay down their money at prices that will make the Coyotes sustainable in Glendale long term.

The other thing that concerns me is I think you really need local owenrship to make things viable long term (like they have successfully done in Nashville). I don't believe Jamison has any ties to the Phoenix area, thus does it really matter to him if the team stays in Glendale?

 

[BlueandWhiteForever]

Prospective Coyotes owner to get $15M/year to manage arena

 

[dash]

Another thing that Glendale has to do is book more events into Jobing.com arena. The Spring Center in Kansas City has more events booked in the month of June than Jobing.com has June, July, August, September, October, and November combined.

 

[dash]

A Republic analysis revealed that even if the Coyotes went to the Stanley Cup Finals for the next 20 seasons and the arena booked 30 sold-out concerts each year for the next 20 years, Glendale could still expect to lose about $9 million annually.

That figure does not include the city's annual arena debt payments, which will average about $12.6 million a year over the next 20 years.

Sports economist John Vrooman said the team brings intangible benefits to Glendale, but the balance sheet may not add up for taxpayers. "(The city) needs to make sure the costs and benefits are all lined up and match up," said Vrooman of Vanderbilt University. "The benefit and the cost doesn't seem to match up in this case."

Glendale shares details of deal with potential Phoenix Coyotes buyer

 

[Eddie_Shack]

A Republic analysis revealed that even if the Coyotes went to the Stanley Cup Finals for the next 20 seasons and the arena booked 30 sold-out concerts each year for the next 20 years, Glendale could still expect to lose about $9 million annually.

That figure does not include the city's annual arena debt payments, which will average about $12.6 million a year over the next 20 years.

Sports economist John Vrooman said the team brings intangible benefits to Glendale, but the balance sheet may not add up for taxpayers. "(The city) needs to make sure the costs and benefits are all lined up and match up," said Vrooman of Vanderbilt University. "The benefit and the cost doesn't seem to match up in this case."

Glendale shares details of deal with potential Phoenix Coyotes buyer

Those numbers are mind blowing...

All that money down the drain, it's insane.

 

[forty_three]

Prospective Coyotes owner to get $15M/year to manage arena

Wow, just... wow.

That sounds eerily like the deal the Orioles got for Memorial Stadium that was the final nail in the coffin for the Colts.

At least there's no other sports team in Phoenix that will have to suffer.

Originally Posted by dash View Post
A Republic analysis revealed that even if the Coyotes went to the Stanley Cup Finals for the next 20 seasons and the arena booked 30 sold-out concerts each year for the next 20 years, Glendale could still expect to lose about $9 million annually.

 

[mattola]

A Republic analysis revealed that even if the Coyotes went to the Stanley Cup Finals for the next 20 seasons and the arena booked 30 sold-out concerts each year for the next 20 years, Glendale could still expect to lose about $9 million annually.

but what do they lose if the coyotes are NOT there.... is it $50M more less? nothing?

 

[Eddie_Shack]

I wonder how often the idea of just burning down the arena and collecting on the insurance comes up in city hall meetings?