((HT: AZCentral/12 News))
Andrew Barroway was introduced as the new majority owner of the Arizona Coyotes in Glendale Friday.
IceArizona bought the team for $170-million, but group owner-ring leader Anthony LeBlanc recently valued the franchise for a little over $300-million... (of course, he did...)
But the franchise can leave Arizona if they lose more than $50-million over the first five years of IceArizona's ownership. The larger question is: Just how much money have they lost already...? There's talk that the number is already close to $30-million after only two seasons...
Barroway is committed- for now... he is denying that he is buying the team to flip the team...
NBC's Pro Hockey Talk and James Mirtle of the Globe and Mail reported as far back as November that Barroway wanted to flip the franchise and was the only one in line to purchase the team- moving them to someone who wants to put a franchise in Las Vegas.
Here's the introduction
Barroway's addition gives the Coyotes a little more American ownership- which is huge for the small market/small budget squad that needs league assistance and Barroway's infusion of capital to get off the league salary cap floor...
Unless, of course, they're moving to Vegas...
Showing posts with label Arizona Coyotes. Show all posts
Showing posts with label Arizona Coyotes. Show all posts
Friday, January 2, 2015
Wednesday, December 17, 2014
Phoenix Downs Edmonton on OT Buzzer Beating Goal
((ht: cbssports.com))
It's tough being an Edmonton Oiler these days. Losers of 19 of the last 24 games, the Oilers fired their coach less than a week ago.
And Tuesday night, they found a new way to lose. Though they did technically get a point for it.
Tied with the Arizona Coyotes 3-3 in overtime and the clock running down, it looked for sure like the game would be heading to a shootout.
Only it didn't.
With 0.3 seconds left on the clock, Oliver Ekman-Larsson rifled a shot from just left of the goalie while heading up the ice at full speed.
The shot of course went right past the goalie and in the net. Game over, Oilers find yet another way to lose.
It's tough being an Edmonton Oiler these days. Losers of 19 of the last 24 games, the Oilers fired their coach less than a week ago.
And Tuesday night, they found a new way to lose. Though they did technically get a point for it.
Tied with the Arizona Coyotes 3-3 in overtime and the clock running down, it looked for sure like the game would be heading to a shootout.
Only it didn't.
With 0.3 seconds left on the clock, Oliver Ekman-Larsson rifled a shot from just left of the goalie while heading up the ice at full speed.
The shot of course went right past the goalie and in the net. Game over, Oilers find yet another way to lose.
Wednesday, November 26, 2014
Morning Wrap: Coyotes Center Scores Game Winner For Avalanche
((ht: nhl.com))
Talk about a crappy way to lose a hockey game. This one may take the cake.
The Colorado Avalanche got a 4-3 overtime win Tuesday night vs. The Arizona Coyotes. The reason they got the win--
Coyotes center Martin Hanzal deflected a pass by Colorado's Daniel Briere into the net, past Coyotes Goalie Mike Smith.
Game over.
Briere gets credit for the goal even though he wasn't trying to score and Hanzal holds his head in shame.
Your highlights from NHL.com:
Talk about a crappy way to lose a hockey game. This one may take the cake.
The Colorado Avalanche got a 4-3 overtime win Tuesday night vs. The Arizona Coyotes. The reason they got the win--
Coyotes center Martin Hanzal deflected a pass by Colorado's Daniel Briere into the net, past Coyotes Goalie Mike Smith.
Game over.
Briere gets credit for the goal even though he wasn't trying to score and Hanzal holds his head in shame.
Your highlights from NHL.com:
Saturday, October 11, 2014
The Coyotes Have A New Majority Owner, Are They On The Clock In Glendale?
((HT: AZCentral))
Depending on who you talk to these days, either thePhoenix Arizona Coyotes are either half-way to their $50-million loss figure for the escape clause to kick in or everything is fine, the team is losing money, and they're staying anyway.
Either way, this seems to be the league approach to keeping a team there when the league could be served better someplace else
Coyotes president Anthony Leblanc values his team around $300-million and he is selling 51-percent to Philadelphia hedge fund guru Andrew Barroway for something in the neighborhood of $152.5-million.
The Ice Edge guys had an escape clause built into their new deal with the city of Glendale that specified if the team was hemorrhaging money they could leave. Glendale agreed last year to pay the Coyotes $15 million annually to manage the arena- and that isn't helping, either. Revenue from parking and concerts paid to the city in return has so far fallen short of projections. If Barroway's name is familiar to you, it should be. He has had interest in both the Islanders and the Devils before getting this deal.
Reason being- and the HQ has witnessed this first hand- the Glendale City Center is a mixed-use development that has fallen well short of occupancy in the business and residential aspects of the project. It takes far too long to get there from the Phoenix downtown area under normal circumstances and, Gawd forbid, you work in Phoenix and thought you would live in Glendale.
It's just not a feasible suburban location for something to work...
Ice Edge's financing issues came to the fore again just before the season started when it was disclosed that they were sending Max Domi back to juniors so they wouldn't have to pay his entry level salary instead of keeping him up with the parent club so the team could have another scoring threat.
Oh, well...
Here's The Bettman discussing everything Arizona
Apparently, having Barroway involved gives the Coyotes a better interest rate with the NHL credit lines and gets them to wipe out a debt with a previous investment group and, also, may give the team an extra $9-million- which might bring Domi back to the parent club sooner rather than later.
But the HQ still believes that the Coyotes would be better served in the pacific northwest and the Florida Panthers would be better served in Quebec City.
But, that's just us thinking about relocation instead of the poo-pooed expansion talk from the Commissioner earlier this week.
Depending on who you talk to these days, either the
Either way, this seems to be the league approach to keeping a team there when the league could be served better someplace else
Coyotes president Anthony Leblanc values his team around $300-million and he is selling 51-percent to Philadelphia hedge fund guru Andrew Barroway for something in the neighborhood of $152.5-million.
The Ice Edge guys had an escape clause built into their new deal with the city of Glendale that specified if the team was hemorrhaging money they could leave. Glendale agreed last year to pay the Coyotes $15 million annually to manage the arena- and that isn't helping, either. Revenue from parking and concerts paid to the city in return has so far fallen short of projections. If Barroway's name is familiar to you, it should be. He has had interest in both the Islanders and the Devils before getting this deal.
Reason being- and the HQ has witnessed this first hand- the Glendale City Center is a mixed-use development that has fallen well short of occupancy in the business and residential aspects of the project. It takes far too long to get there from the Phoenix downtown area under normal circumstances and, Gawd forbid, you work in Phoenix and thought you would live in Glendale.
It's just not a feasible suburban location for something to work...
Ice Edge's financing issues came to the fore again just before the season started when it was disclosed that they were sending Max Domi back to juniors so they wouldn't have to pay his entry level salary instead of keeping him up with the parent club so the team could have another scoring threat.
Oh, well...
Here's The Bettman discussing everything Arizona
Apparently, having Barroway involved gives the Coyotes a better interest rate with the NHL credit lines and gets them to wipe out a debt with a previous investment group and, also, may give the team an extra $9-million- which might bring Domi back to the parent club sooner rather than later.
But the HQ still believes that the Coyotes would be better served in the pacific northwest and the Florida Panthers would be better served in Quebec City.
But, that's just us thinking about relocation instead of the poo-pooed expansion talk from the Commissioner earlier this week.
Wednesday, August 13, 2014
Victor Coleman Now Paired With Chris Hansen For Seattle NHL Idea
((HT: KING-TV))
Chris Daniels has an update on the development of possible partners for Chris Hansen, his new arena in Seattle, and the idea of bringing a new hockey franchise to the city of Seattle.
Vancouver-based real estate magnate Victor Coleman has apparently signed a "non-binding" (translation: no cash changing hands publicly) agreement on the South Downtown area that Hansen wants to put an arena in for his NBA franchise that he wants to bring to town-that he doesn't have yet.
Coleman was part of the gaggle of city leaders that met with NHL Commissioner Gary Bettman and Bill Daly secretly to talk about the Seattle destination for any hockey franchise that wants to relocate.
Are you listening Phoenix...???
Coleman has even put ideas about revenue streams on paper for Hansen to look at...
Here's the latest from Daniels on Coleman
The team that is playing at Jobing.com/Gila River Casinos Arena is on a very short leash with its owners at present with no end of money hemorrhaging- at present.
The folks down on Glendale need to pay serious attention to all that's going on up there as they get closer to solutions for bringing a team to Seattle and creating a natural rivalry with Vancouver- Coleman's home base...
Chris Daniels has an update on the development of possible partners for Chris Hansen, his new arena in Seattle, and the idea of bringing a new hockey franchise to the city of Seattle.
Vancouver-based real estate magnate Victor Coleman has apparently signed a "non-binding" (translation: no cash changing hands publicly) agreement on the South Downtown area that Hansen wants to put an arena in for his NBA franchise that he wants to bring to town-that he doesn't have yet.
Coleman was part of the gaggle of city leaders that met with NHL Commissioner Gary Bettman and Bill Daly secretly to talk about the Seattle destination for any hockey franchise that wants to relocate.
Are you listening Phoenix...???
Coleman has even put ideas about revenue streams on paper for Hansen to look at...
Here's the latest from Daniels on Coleman
The team that is playing at Jobing.com/Gila River Casinos Arena is on a very short leash with its owners at present with no end of money hemorrhaging- at present.
The folks down on Glendale need to pay serious attention to all that's going on up there as they get closer to solutions for bringing a team to Seattle and creating a natural rivalry with Vancouver- Coleman's home base...
Tuesday, July 22, 2014
Round 47 Of "Are The Coyotes On The Clock?"
((HT: Sports Exchange))
Glendale (Arizona) Mayor Jerry Weiers is asking the state attorney general to investigate the closed door meetings that the City Council had with NHL Commissioner Gary Bettman and League Number Two Bill Daly last year.
After days of meetings in 2013, the Council voted by a slim margin to approve the $225-million agreement that keeps the Coyotes in Glendale and the Jobing.com Arena. Weiers voted against the deal and is concerned that the City Council and the NHL violated Sunshine Laws.
If an investigation is opened and a violation is found, the deal could be voided- an issue the HQ raised when all of this went down in the first place. If the deal is torched, the city council would have 30 days to do everything all over again- in an open meeting this time around.
"I think it's a clear violation," Weiers told The Arizona Republic in a Tuesday article. "That meeting is wrong on so many levels. It's like playing poker and showing your opponents all your cards."
Here's the short version from News 12
And the HQ wonders again if the folks in Seattle are watching the activity in town... The full article from the Republic is hyah and is an nice, in-depth look what may be a bad situation for all parties involved.
As we have maintained from the beginning...
Glendale (Arizona) Mayor Jerry Weiers is asking the state attorney general to investigate the closed door meetings that the City Council had with NHL Commissioner Gary Bettman and League Number Two Bill Daly last year.
After days of meetings in 2013, the Council voted by a slim margin to approve the $225-million agreement that keeps the Coyotes in Glendale and the Jobing.com Arena. Weiers voted against the deal and is concerned that the City Council and the NHL violated Sunshine Laws.
If an investigation is opened and a violation is found, the deal could be voided- an issue the HQ raised when all of this went down in the first place. If the deal is torched, the city council would have 30 days to do everything all over again- in an open meeting this time around.
"I think it's a clear violation," Weiers told The Arizona Republic in a Tuesday article. "That meeting is wrong on so many levels. It's like playing poker and showing your opponents all your cards."
Here's the short version from News 12
And the HQ wonders again if the folks in Seattle are watching the activity in town... The full article from the Republic is hyah and is an nice, in-depth look what may be a bad situation for all parties involved.
As we have maintained from the beginning...
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