The chances of Coyotes succeeding in the West Vallay are getting better lately. Economy is slowly improving and house prices have a slight rebound happening. And Westgate Center has just opened a Tanger Outlet Mall in the last couple weeks. Westgate is now the top retail area of the west side of Phoenix and that should help draw people out there. The lease and hopefully better profit sharing should help the Jameson group make a go of it in the desert if the lease actually makes it all the way this time??
Coyotes to stay in Phoenix, apparently
- Thread starter ZBBM
- Start date
dappleganger
Active member
Peter D. said:
My guess? The NHL is one of the investors.
bustaheims
Active member
dm_for_pm said:
Doubtful. It's more likely that the business relationships with the other investors hasn't been formalized yet, and he doesn't want to or can't discuss it until it has been.
One could only hope there's some real money behind this guy. The NHL doesn't need another Boots Del Biaggio, Len Barrie, or worse, John Spano. Why is it that the NHL seems to have a much worse record with shady potential owners than the other pro sports leagues?Peter D. said:
GhostofPotvin29
New member
Peter D. said:
I'd also be too embarrassed to publicly admit I was buying the Phoenix Coyotes.
dappleganger
Active member
Justin said:
Because of the person running it? :-\
hockeyfan1
New member
lamajama said:
A complicated mess. That's all this whole Phoenix Coyotes situation was, is, and will continue to be.
Rebel_1812
New member
Justin said:
because its a bad investment.
Just saw this:
Jamison's bid may be ending in failure
However, the article alludes to yet another mysterious potential buyer.
Jamison's bid may be ending in failure
However, the article alludes to yet another mysterious potential buyer.
Nik Pollock said:
Yep. The lease deal will die at end of business today - the major has stated that he won't extend it one minute. But the voters did approve a tax to fund the arena (or something like that last fall).
There's been some minority owners bought out in San Jose. Some speculation that there may be a new group going to buy them including the minority owners for San Jose where Jamison had a piece of that team.
Glendale mayor: Jamison asks for extension on Coyotes deal
Mayor Jerry Weiers said an attorney representing Jamison called him late Wednesday night to ask for an extension on a lucrative arena-management deal.
The city previously offered Jamison a 20-year deal that pays him an average of $15 million a year to manage Jobing.com Arena. However, the deal mandates that Jamison has to purchase the Coyotes from the NHL by 11:59 p.m. Arizona time today.
If Jamison misses the deadline, the deal evaporates.
Weiers told The Arizona Republic that he was contacted by a well-known local attorney representing Jamison after 9 p.m. Wednesday to request an extension on the deadline.
Weiers declined to identify the attorney, but said he told the attorney that he had no intention to extend the deadline. The mayor carries just one of seven votes on the City Council, but his position appears to mirror the overall mood of the council, which has four newly seated members.
?The bottom line is that Jamison himself hasn?t talked with me,? Weiers said. ?I do know that a group trying to help Jamison or trying to get involved with Jamison ? however you want to word it ? they?re trying to figure out a way to keep his deal afloat.?
Weiers said of extending the deadline: ?Obviously, we?re not going to do that.?
Weiers also said that he was contacted late Wednesday night by representatives of two separate groups who expressed interest in buying the Coyotes and keeping the team in Glendale if Jamison fails to purchase the team.
The mayor declined to identify the two new groups. He said he could not immediately access the genuineness of the apparent new suitors. ?Everybody?s trying to figure out how to get a piece of the pie here,? Weiers said. ?I mean, really nothing?s happened other than talk.?
If true, and I see no evidence that it isn't, Jamison's bid is dead.
Mayor Jerry Weiers said an attorney representing Jamison called him late Wednesday night to ask for an extension on a lucrative arena-management deal.
The city previously offered Jamison a 20-year deal that pays him an average of $15 million a year to manage Jobing.com Arena. However, the deal mandates that Jamison has to purchase the Coyotes from the NHL by 11:59 p.m. Arizona time today.
If Jamison misses the deadline, the deal evaporates.
Weiers told The Arizona Republic that he was contacted by a well-known local attorney representing Jamison after 9 p.m. Wednesday to request an extension on the deadline.
Weiers declined to identify the attorney, but said he told the attorney that he had no intention to extend the deadline. The mayor carries just one of seven votes on the City Council, but his position appears to mirror the overall mood of the council, which has four newly seated members.
?The bottom line is that Jamison himself hasn?t talked with me,? Weiers said. ?I do know that a group trying to help Jamison or trying to get involved with Jamison ? however you want to word it ? they?re trying to figure out a way to keep his deal afloat.?
Weiers said of extending the deadline: ?Obviously, we?re not going to do that.?
Weiers also said that he was contacted late Wednesday night by representatives of two separate groups who expressed interest in buying the Coyotes and keeping the team in Glendale if Jamison fails to purchase the team.
The mayor declined to identify the two new groups. He said he could not immediately access the genuineness of the apparent new suitors. ?Everybody?s trying to figure out how to get a piece of the pie here,? Weiers said. ?I mean, really nothing?s happened other than talk.?
If true, and I see no evidence that it isn't, Jamison's bid is dead.
Nik Pollock said:
Probably.
9 out of 10 letters of intent to buy a business fail to complete a deal. Add in all the complications related to this situation and the long time for a deal like this to bear fruit and the odds for this deal are probably even less - and that was at the outset.
With the loss of the lease deal due to it expiring today, it's going to be really tough to get it back on track now. Really tough.
OldTimeHockey
Active member
Draw things out? They've been doing that for a good 5 or 6 years now