Glendale voted a week or so ago to extend agreement for a month. No idea what this means as all has been quiet on the Jamison front. Can't see how a move could happen this late for this year but would assume Jamison is Coyotes last chance and relocation for next year will be next move???
Coyotes to stay in Phoenix, apparently
- Thread starter ZBBM
- Start date
I am truly shocked Nik that NHL did not pull the plug by now. Even as a season ticket holder I can't believe the fight to save this franchise has gone this far. I doubt it lasts past last game of coming season, if no one buys by then surely they have to sell to highest acceptable bidder for re-location??
bustaheims
Active member
Nik? said:
And, it definitely feels like every time the league seems to be close to where they'd pull the plug on having a team in Phoenix, another potential buyer makes their presence known.
OldTimeHockey
Active member
And in other news, the Devils appear to be $20 million short in being able to pay back loans and may lose control of the hockey team.
http://www.thefourthperiod.com/news/njd120807.html
http://www.thefourthperiod.com/news/njd120807.html
hockeyfan1
New member
Coyotes get one month extension on the arena lease agreement by the city council of Glendale, for the purpose of fgiving potential owner Jamieson extra time in his decision of wanting to buy the team...
http://www.sportsnet.ca/hockey/2012/08/27/phoenix_coyotes_arena_lease_extended/
PHOENIX -- The Glendale City Council has directed staff to extend its arena management agreement with the NHL for another month.
City Attorney Craig Tindall says it'll allow potential Phoenix Coyotes owner Greg Jamison more time to try to buy the team.
The Arizona Republic reports Glendale's third 30-day arena management agreement with the NHL was set to expire later this week.
http://www.sportsnet.ca/hockey/2012/08/27/phoenix_coyotes_arena_lease_extended/
PHOENIX -- The Glendale City Council has directed staff to extend its arena management agreement with the NHL for another month.
City Attorney Craig Tindall says it'll allow potential Phoenix Coyotes owner Greg Jamison more time to try to buy the team.
The Arizona Republic reports Glendale's third 30-day arena management agreement with the NHL was set to expire later this week.
L K
Active member
With labour uncertainty though, where is the incentive for the deal to be closed by Jamison? Given how long it has taken for him to get the financial backing to buy the team, he clearly doesn't have the disposable income on his own to handle the purchase. So why would he want to plunk down a bunch of money/loans on a product that might not even exist until December? Once he owns the team, he has to start paying employee wages for an organization that isn't even making meagre returns for him.
Kin
New member
L K said:
Well, just off the top of my head, given the precarious and sort of urgency here you could maybe argue that there might not be a deal to be made in December. If Glendale is getting sick of the delay and worried about the prospect of another season of footing the bills they might just decide to be done with the whole thing. If Jamison really wants to own the hockey team it might be now or never.
A few days ago after a closed door council meeting it has been reported that the City of Glendale instructed not to sign deal as they wish to make ammendments?? Not a smart move by the City to try to alter deal now as apparently this will force council to re-vote on the deal. I think City is playing with fire and I think this "shaky" deal is best and last chance for City to try to make the best out of a very crappy situation.
maplesyrup
New member
Huh. Seems up to 50% of Jamison's money is coming from a major investor - The Tohono O?Odham Nation.
http://www.theglobeandmail.com/sports/hockey/tohono-oodham-tribe-emerges-as-key-player-in-coyotes-sale/article4552393/
http://www.theglobeandmail.com/sports/hockey/tohono-oodham-tribe-emerges-as-key-player-in-coyotes-sale/article4552393/
hockeyfan1
New member
From:
http://www.thehockeynews.com/articles/48581-Krys-Barch-ramblings-and-ownership-fires.html
The latest news on the situation...
A deal between the City of Glendale and prospective Phoenix Coyotes owner Greg Jamison may very well be completed this week, but that doesn?t mean the Coyotes are out of the woods by a long shot, since Jamison is apparently well short of the funds he needs to buy the team from the NHL.
Two sources have told THN.com the deal is all but dead. The problem with a market such as Phoenix is that getting the up-front investment is only one of the obstacles. With the prospect of frequent cash calls coming based on the amount invested, those who might be tempted into investing in a team such as the Coyotes can be discouraged pretty quickly.
http://www.thehockeynews.com/articles/48581-Krys-Barch-ramblings-and-ownership-fires.html
The latest news on the situation...
A deal between the City of Glendale and prospective Phoenix Coyotes owner Greg Jamison may very well be completed this week, but that doesn?t mean the Coyotes are out of the woods by a long shot, since Jamison is apparently well short of the funds he needs to buy the team from the NHL.
Two sources have told THN.com the deal is all but dead. The problem with a market such as Phoenix is that getting the up-front investment is only one of the obstacles. With the prospect of frequent cash calls coming based on the amount invested, those who might be tempted into investing in a team such as the Coyotes can be discouraged pretty quickly.
