The Winnipeg Jets Possible Return

[Robimus]

Lots of news the past couple days.

The City of Glendale threatened to sue the Goldwater Institute if they didn't back off from their threats of a lawsuit over this bond deal.

Goldwater responded "go ahead, make my day" or something to that effect.

http://goldwaterinstitute.org/article/5764

Now the City of Glendale has backed off and says it won't sue Goldwater at this time.

Hulzinger, the new potential owner, now says he needs this resolved in weeks, not months.

I'm hoping he doesn't have even that long.

[jourdo]

Does anyone else think that the NHL is missing Jim Balsille right about now?

[Robimus]

If Basille hadn't tried to circumvent the league and its rules he'd likely be in line right now.

But because he did I suspect he's black listed by the NHL.

The money in this deal has never made sense. Basille offered $250 million and the NHL has basically responded by saying "No we'd rather sell to either Glendale or Winnipeg for $170 million"?

It doesn't make sense in terms of $$$$and cents.

[Robimus]

This just in from the Winnipeg Free Press:

TODD Curtis had a chance to help out the City of Glendale in its quest to keep the Phoenix Coyotes in the desert but he wanted nothing to do with it.

The mutual fund manager at Aquila Investment Management LLC in Phoenix said information for the bond offering came across his desk a couple of weeks ago with an interest rate between 7.5 and eight per cent.

"I backed off reasonably quickly," he said.
Curtis said he and other institutional investors have held on to their chequebooks because a potential lawsuit from the Goldwater Institute challenging the constitutionality of Glendale's deal leaves too many questions unanswered.
"When those things happen, you say, 'better safe than sorry,'" he said.

Hockey fans in Winnipeg hope the mood among Curtis and his colleagues stands firm. If the bond deal dies, there is speculation that the team will be sold to True North Sports & Entertainment and moved to Winnipeg.

Curtis said while the municipal bond market in the U.S. has been in difficulty for about three months, sports teams and facilities "aren't the best sellers" in that space to begin with.
Curtis said the hope with most municipal bond deals is to sell them out in a few hours or days. If they don't move, issuers can always pull them from the market and try again a few months later when the market conditions have improved. That's an option Glendale doesn't have because the NHL reportedly wants this deal to close much sooner rather than later.

Curtis said if the bond deal goes forward and Goldwater follows through on its lawsuit threats, Glendale could then face other lawsuits from investors wanting their money back.
"If Glendale raised the money, paid (potential owner Matthew Hulsizer) and lost the legal suit, everything would have to reverse. Money would have been spent and you'd have all kinds of wrangling," he said.

With so many strikes against it, Curtis said he has serious doubts the bond offering will get off the ground.
"I have a real fear that the deal will not get done. I believe the sale of the Coyotes will be back up in the air."

And if no Bond sale = no Coyotes in Phoenix as the NHL has eluded to.....

[jourdo]

Originally Posted by Robimus

If Basille hadn't tried to circumvent the league and its rules he'd likely be in line right now.

But because he did I suspect he's black listed by the NHL.

The money in this deal has never made sense. Basille offered $250 million and the NHL has basically responded by saying "No we'd rather sell to either Glendale or Winnipeg for $170 million"?

It doesn't make sense in terms of $$$$and cents.

I think the big issue in that deal was ego on both sides. Neither group wanted to admit fault with what they were doing.

Saying that though, I'm sure the other owners would prefer $250 million in theirockets vs the losses they are taking now.

[Robimus]

This just in from the Winnipeg Free Press:

WINNIPEG — NHL commissioner Gary Bettman and deputy commissioner Bill Daly are headed to Phoenix today.

It is unknown whether the two are going there to try and make a last-ditch effort to save the Phoenix Coyotes or to inform the City of Glendale the NHL will begin exploring other options for the league-owned franchise.
Bettman and Daly are scheduled to meet with Glendale officials, and potentially with the Goldwater Institute. Goldwater has opposed the arrangement struck between Glendale and potential owner Matthew Hulsizer.

Any meetings with Goldwater would have to be held publicly with members of the media invited as stipulated by CEO Darcy Olsen in a letter issued on Monday. Glendale has threatened to sue Goldwater for tortious interference due to the institute's insistence the deal between city and Hulsizer contravenes Arizona's state gift clause law.

Goldwater has warned investors they may sue and in doing so made it difficult for Glendale to sell a $116 bond issue the city needs in order to raise $100 million in cash they have pledged to Hulsizer to help him meet the $170-million purchase price.

The league bought the team out of bankruptcy for $140 million and have accumulated losses in the neighbourhood of $30 million while operating the club.

The league has been in the position to exercise its relocation option since Dec. 31st.
True North Sports and Entertainment is considered the front-runner to purchase and move the team to Winnipeg should the league determine it cannot reach a favourable outcome in Glendale.

[Prowl_2009]

Man, it'd be great to see the Jets back once again!

[Robimus]

Damn, guess Winnipeg lost out..........

NHL Approves Relocation of Coyotes to Mexico City

Scottsdale, AZ- Gary Bettman and the NHL have finally found a resolution to the Phoenix Coyotes saga. After months of trying to keep the team in Scottsdale, they will finally be moving, but not to Winnipeg.

Bettman approved the sale of the team to JoaquÃ*n "El Chapo" Guzmán, Mexico's most notorious drug cartel. Early estimates indicate that Guzmán paid about 1,201,300.00 Mexican Pesos, which only amounts to about $100,000 USD.

"After the success of the NHL teams in Florida and Texas, we decided to go even more south, and expand into a third country, Mexico. The great nation of Mexico has the perfect demographic features to encompass such a great hockey team. I'm also confident that the Mexican people would spend large amounts of money to see such allstars like Shane Doan" replied Bettman after being asked about the situation. "After the North American Free Trade Agreement (NAFTA) was signed in 1994, I've always wanted to expand into Mexican territory."


"Scientifically it's not even possible to have a sheet of ice so far down south, but I guess Bettman has made up his mind" NHL Deputy Commissioner Bill Daly explains. "We're planning to have the stadium right in the center Mexico City. That way we can ship mass amounts of sombreros and burritos to the arena for minimal cost. Along with cheap alcohol, this should be enough to build a large fan base."


"Yep. Downtown Mexico City will also have a variety of great nightlife for the players after a practice or game. Having the arena in such a desirable spot will also allow for players to meet and sign autographs for local fans. Plus, its not like they'll be getting any less attention than they did in Phoenix." Bettman told media.

JoaquÃ*n Guzmán was not available for comment on his recent acquisition, some members of Guzman's gang were at the press conference.

[jourdo]

Funny... and it would not even surprise me if Bettman tried it.

[Robimus]

So we haven't had any solid news of late. But we did get this quote:

Coyotes assistant captain, Eric Belanger said today, "I hate Winnipeg and I know other people that do to.".

Thanks Eric, I hope we get to see you soon!