((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...
Showing posts with label Glendale City Center. Show all posts
Showing posts with label Glendale City Center. Show all posts
Tuesday, July 22, 2014
Wednesday, August 7, 2013
IceArizona Takes Over Coyotes
And the Commissioner couldn't be any happier over the idea that he can hand over the keys to the Phoenix ArizonaPhoenix Coyotes from his own pockets once and for all...
For three years or so, anyway...
The guys fromRenaissanceIceArizona took over the team and held their initial press conference detailing just how much they love Glendale and want to commit to keeping hockey in jobing.com arena- until they lose enough money so they can move somewhere like Seattle...
"Today is about starting over," Ice part-owner Anthony LeBlanc said.
AZCentral's Sarah McLellan caught up with the commish...
The City of Glendale, put over a barrel again, released this statement: "The city of Glendale is very pleased with the announcement from the National Hockey League (NHL) that IceArizona Acquisition Co., LLC has finalized its purchase of the team. The city is looking forward to working with IceArizona to continue the long-term presence and success of the Coyotes in Glendale. "As we move forward, the city and team will focus on building momentum for this season by welcoming new and returning fans to Glendale's Sports and Entertainment District and supporting the many shops and restaurants that make up this important economic engine for the city. "We want to thank the dedicated fans for their ongoing support of the team and the city of Glendale. As the anchor tenant for Jobing.com Arena, the Coyotes play more than 40 home games in our city that annually attract more than 500,000 fans and we are looking forward to many successful years ahead."
The HQ gives it 3 years- tops before the $50-million loss elevator clause kicks in...
For three years or so, anyway...
The guys from
"Today is about starting over," Ice part-owner Anthony LeBlanc said.
AZCentral's Sarah McLellan caught up with the commish...
The City of Glendale, put over a barrel again, released this statement: "The city of Glendale is very pleased with the announcement from the National Hockey League (NHL) that IceArizona Acquisition Co., LLC has finalized its purchase of the team. The city is looking forward to working with IceArizona to continue the long-term presence and success of the Coyotes in Glendale. "As we move forward, the city and team will focus on building momentum for this season by welcoming new and returning fans to Glendale's Sports and Entertainment District and supporting the many shops and restaurants that make up this important economic engine for the city. "We want to thank the dedicated fans for their ongoing support of the team and the city of Glendale. As the anchor tenant for Jobing.com Arena, the Coyotes play more than 40 home games in our city that annually attract more than 500,000 fans and we are looking forward to many successful years ahead."
The HQ gives it 3 years- tops before the $50-million loss elevator clause kicks in...
Saturday, July 20, 2013
So, Did Glendale Violate Open Meeting Laws...???
((HT: AZCentral.com/Giblin))
It was a question the HQ had in all of its coverage leading up to the city of Glendale prostituting itself to the National Hockey League to the tune of keeping the (now) Arizona Coyotes at jobing.com arena a few weeks ago...
As the league set its ideas in motion, Commissioner Gary Bettman and Number Two Bill Daly met with city council members in groups of two or three (or individually) as a way to get around the Open Meetings Law, having any minutes available for future reference, or having (frankly) any kind of record on paper to see just what back door dealings were cut to keep Glendale with a hockey team, keep the league from having to move a hockey team at the last minute, and keep Renaissance Sports and Entertainment from getting a hockey team.
Meetings held in secret and out of the public eye are always on the up-and-up, aren't they...???
A complaint has been filed by a Glendale resident with the state Attorney General's Office on just that very idea.
A July 2 letter by Assistant Attorney General Christopher Munns was sent to interim City Manager Dick Bowers.
It said, according to Giblin:
“The complaints allege that the council violated the Open Meetings Law by conducting sequential meetings of council members in a number less than a quorum in order to discuss official town business without needing to comply with the requirements of the law,” Munns states in the letter.
Munns asked Bowers to provide additional information about the serial meetings by July 26.
If Glendale violated the Open Meetings Law, penalties range from fines of as much as $500 per person, repaying the state for their attorney fees during their investigation, and removal from public office...
How that would affect the deal with RSE is anyone's guess...
While the interim city attorney for the city of Glendale only describes the meetings as meet-and-greet, resident Ken Sturgis, who said he filed a complaint, thinks otherwise...
“It’s hard to believe that this kind of contract that was put together and presented later wasn’t talked about. I find that very hard to believe,” he told Giblin.
As does the HQ... but what will happen probably won't have much impact on what has already gone down...
Here were the questions Glendale mayor Jerry Weiers had a few months ago- and, probably, still does...
((HT: AZPBS))
It was a question the HQ had in all of its coverage leading up to the city of Glendale prostituting itself to the National Hockey League to the tune of keeping the (now) Arizona Coyotes at jobing.com arena a few weeks ago...
As the league set its ideas in motion, Commissioner Gary Bettman and Number Two Bill Daly met with city council members in groups of two or three (or individually) as a way to get around the Open Meetings Law, having any minutes available for future reference, or having (frankly) any kind of record on paper to see just what back door dealings were cut to keep Glendale with a hockey team, keep the league from having to move a hockey team at the last minute, and keep Renaissance Sports and Entertainment from getting a hockey team.
Meetings held in secret and out of the public eye are always on the up-and-up, aren't they...???
A complaint has been filed by a Glendale resident with the state Attorney General's Office on just that very idea.
A July 2 letter by Assistant Attorney General Christopher Munns was sent to interim City Manager Dick Bowers.
It said, according to Giblin:
“The complaints allege that the council violated the Open Meetings Law by conducting sequential meetings of council members in a number less than a quorum in order to discuss official town business without needing to comply with the requirements of the law,” Munns states in the letter.
Munns asked Bowers to provide additional information about the serial meetings by July 26.
If Glendale violated the Open Meetings Law, penalties range from fines of as much as $500 per person, repaying the state for their attorney fees during their investigation, and removal from public office...
How that would affect the deal with RSE is anyone's guess...
While the interim city attorney for the city of Glendale only describes the meetings as meet-and-greet, resident Ken Sturgis, who said he filed a complaint, thinks otherwise...
“It’s hard to believe that this kind of contract that was put together and presented later wasn’t talked about. I find that very hard to believe,” he told Giblin.
As does the HQ... but what will happen probably won't have much impact on what has already gone down...
Here were the questions Glendale mayor Jerry Weiers had a few months ago- and, probably, still does...
((HT: AZPBS))
Tuesday, July 9, 2013
Glendale Signs Lease Deal With Renaissance, Will Goldwater Respond To Bad Bonds...? (UPDATED: Goldwater Speaks)
((HT: Sportsnet.ca))
The wanna-be/almost/soon-to-be owners of the Phoenix-slash-Arizona Coyotes have signed their lease agreement for Jobing.com Arena and the city of Glendale, Arizona.
Daryl Jones, one of the partners with Renaissance Sports & Entertainment, tweeted on Monday that the lease agreement with the City of Glendale has been executed.
We have executed the lease for http://Jobing.com Arena in Glendale, Arizona. The long term home of the Coyotes ! Howlllll!
The Glendale City Council approved a 15-year, $225 million arena lease deal with RSE during a special session last week, RSE still has to complete its purchase of the team and get approval from the NHL’s Board of Governors.
Sportsnet's Roger Millions caught up with Renaissance's George Gosbee who thinks the Coyotes can be profitable- even as his own home got wiped out by the floods in Calgary...
The interesting play in the Millions piece is the possible response from the Goldwater Institute... Here's Carrie Ann Sitren, Goldwater's lead attorney in their original case, from a little over a year ago... Let's just see if some of these same points come up in the near future... ((HT: Goldwater Institute their own selves)) Mike Ozanian, over at Forbes, is also writing that bond holders don't like the deal, either... evidenced by the yield jumping a full percentage point since the restructuring came into play- at the beginning of the calendar year... The middle paragraph: ...the upside of the deal tilts heavily towards the team’s potential buyers, and the risk towards the city’s taxpayers. Not only does the agreement requires the city to pay $15 million a year to Anthony LeBlanc’s group to manage the city-owned Jobing.com Arena, but RSE is not guaranteeing it will pay the city money it says it will generate from non-NHL events that will reduce the burden on taxpayers, and RSE can bolt Glendale should its losses reach $50 million in five years. Oops... THURSDAY UPDATE: Goldwater spoke... and they okayed it for now... Based on the information available to us at this time, we do not believe that the Glendale arena management deal would be held unconstitutional. Changes made to the agreement during the course of negotiations partially bridged the gap between the market cost of arena management and the amount of the payment to the team owner, thus bringing the deal into conformity with cases interpreting the Gift Clause of the Arizona Constitution. The initial deal proposed several years ago would have included not only a substantial annual arena management fee, but a $100 million up-front payment to subsidize the purchase of the team. We are proud to have played a constructive role in protecting the taxpayers and taking an illegal deal off the table. Glendale’s long and painful experience illustrates why local governments should focus on providing basic and essential public services and avoid the temptation to subsidize private enterprises such as sports teams.
The wanna-be/almost/soon-to-be owners of the Phoenix-slash-Arizona Coyotes have signed their lease agreement for Jobing.com Arena and the city of Glendale, Arizona.
Daryl Jones, one of the partners with Renaissance Sports & Entertainment, tweeted on Monday that the lease agreement with the City of Glendale has been executed.
We have executed the lease for http://Jobing.com Arena in Glendale, Arizona. The long term home of the Coyotes ! Howlllll!
The Glendale City Council approved a 15-year, $225 million arena lease deal with RSE during a special session last week, RSE still has to complete its purchase of the team and get approval from the NHL’s Board of Governors.
Sportsnet's Roger Millions caught up with Renaissance's George Gosbee who thinks the Coyotes can be profitable- even as his own home got wiped out by the floods in Calgary...
The interesting play in the Millions piece is the possible response from the Goldwater Institute... Here's Carrie Ann Sitren, Goldwater's lead attorney in their original case, from a little over a year ago... Let's just see if some of these same points come up in the near future... ((HT: Goldwater Institute their own selves)) Mike Ozanian, over at Forbes, is also writing that bond holders don't like the deal, either... evidenced by the yield jumping a full percentage point since the restructuring came into play- at the beginning of the calendar year... The middle paragraph: ...the upside of the deal tilts heavily towards the team’s potential buyers, and the risk towards the city’s taxpayers. Not only does the agreement requires the city to pay $15 million a year to Anthony LeBlanc’s group to manage the city-owned Jobing.com Arena, but RSE is not guaranteeing it will pay the city money it says it will generate from non-NHL events that will reduce the burden on taxpayers, and RSE can bolt Glendale should its losses reach $50 million in five years. Oops... THURSDAY UPDATE: Goldwater spoke... and they okayed it for now... Based on the information available to us at this time, we do not believe that the Glendale arena management deal would be held unconstitutional. Changes made to the agreement during the course of negotiations partially bridged the gap between the market cost of arena management and the amount of the payment to the team owner, thus bringing the deal into conformity with cases interpreting the Gift Clause of the Arizona Constitution. The initial deal proposed several years ago would have included not only a substantial annual arena management fee, but a $100 million up-front payment to subsidize the purchase of the team. We are proud to have played a constructive role in protecting the taxpayers and taking an illegal deal off the table. Glendale’s long and painful experience illustrates why local governments should focus on providing basic and essential public services and avoid the temptation to subsidize private enterprises such as sports teams.
Thursday, July 4, 2013
Let's Be Negative For A Minute: Coyotes In Glendale
Let's get the positive part of this out of the way...
Here was the post mortem on the vote to keep the "Arizona" Coyotes in Glendale led by FOSG Bruce Cooper...
((HT: AZCentral.com))
The larger question: The Coyotes are safe in jobing.com arena for another five years and until the point where losses accumulate to US$50-million- which, in reality, could happen in half that time... it has in the past as teams have lost as much as US$30-million in a season... And the idea that Global-Spectrum was brought in as a partner for Renaissance seems to have swayed at least one voter in this whole thing to make it a 4-3 on the positive side for Glendale...
It's a 15-year lease, sure... and if the Renaissance owners and, presumably, the NHL want to be greedy about the whole thing, the owners can keep getting checks from the city of Glendale (which may or may not bounce considering just how much debt they themselves are in) past that five-year mark and get fat off the city for another decade without having to say they're sorry.
Well done, Glendale... even as newly-minted mayor Jerry Weiers voted against the idea- as he well should have... It was admitted by city officials that services may have to be cut this year to make ends meet- including cutting a check to Anthony LeBlanc and his partners. That's things like police, fire, libraries, sanitation... you know, things that make a city function. But it's clear that everything in and around Westgate City Center revolves around an arena that is only used a handful of times in a calendar year. A bad idea usually begat more bad ideas... and this is no different...
That's where Global-Spectrum comes into play... Allegedly... They manage over 100 arenas around the country and own the Philadelphia Flyers- in a building they manage. The Hockey News Ken Campbell raises an interesting theory: But it is interesting to note that last September, Global Spectrum signed on to manage and operate the GTA Centre in Markham, Ont., once it opens. The GTA Centre is a 20,000-seat arena that is in its infancy and would provide a ready-made building if the NHL ever decided to relocate or expand to the largest and most under-serviced hockey market in the world. Is it a stretch to suggest that if the Coyotes fail, Global Spectrum and its owner might want to see them move to an NHL-sized building that it already manages?
So, when time and patience runs out in Glendale- which it will...
Guess who jumps to the front of the line over Seattle and Quebec City...???
And when the league expands to 32 teams- which it will...
Look for those other two markets and wanna-be owners to have to cut big checks to play in the NHL sandbox instead of getting a cheap tenant on a move-in like Global and the Coyotes Canadian owners...
Here was the post mortem on the vote to keep the "Arizona" Coyotes in Glendale led by FOSG Bruce Cooper...
((HT: AZCentral.com))
The larger question: The Coyotes are safe in jobing.com arena for another five years and until the point where losses accumulate to US$50-million- which, in reality, could happen in half that time... it has in the past as teams have lost as much as US$30-million in a season... And the idea that Global-Spectrum was brought in as a partner for Renaissance seems to have swayed at least one voter in this whole thing to make it a 4-3 on the positive side for Glendale...
It's a 15-year lease, sure... and if the Renaissance owners and, presumably, the NHL want to be greedy about the whole thing, the owners can keep getting checks from the city of Glendale (which may or may not bounce considering just how much debt they themselves are in) past that five-year mark and get fat off the city for another decade without having to say they're sorry.
Well done, Glendale... even as newly-minted mayor Jerry Weiers voted against the idea- as he well should have... It was admitted by city officials that services may have to be cut this year to make ends meet- including cutting a check to Anthony LeBlanc and his partners. That's things like police, fire, libraries, sanitation... you know, things that make a city function. But it's clear that everything in and around Westgate City Center revolves around an arena that is only used a handful of times in a calendar year. A bad idea usually begat more bad ideas... and this is no different...
That's where Global-Spectrum comes into play... Allegedly... They manage over 100 arenas around the country and own the Philadelphia Flyers- in a building they manage. The Hockey News Ken Campbell raises an interesting theory: But it is interesting to note that last September, Global Spectrum signed on to manage and operate the GTA Centre in Markham, Ont., once it opens. The GTA Centre is a 20,000-seat arena that is in its infancy and would provide a ready-made building if the NHL ever decided to relocate or expand to the largest and most under-serviced hockey market in the world. Is it a stretch to suggest that if the Coyotes fail, Global Spectrum and its owner might want to see them move to an NHL-sized building that it already manages?
So, when time and patience runs out in Glendale- which it will...
Guess who jumps to the front of the line over Seattle and Quebec City...???
And when the league expands to 32 teams- which it will...
Look for those other two markets and wanna-be owners to have to cut big checks to play in the NHL sandbox instead of getting a cheap tenant on a move-in like Global and the Coyotes Canadian owners...
Wednesday, July 3, 2013
And The Future Of The Coyotes Is...???
There was an evening of discussion for the Glendale City Council to determine whether or not Renaissance Sports and Entertainment would come to some kind of agreement with the city on a lease agreement on jobing.com arena in Westgate City Center.
The City Council put in a last-minute provision on having their own back out if the deal soured in five years time- the same provision RSE made in front of the City Council. Knowing that RSE would turn the two-sided out clause deal down, RSE came back with a "make whole" idea where, if team leaves after 5 yrs, RSE would reimburse the city up to US$6-million a season for the five years the team would have been active.
Wait... weren't we in this situation before...? The point surrendered in the meeting has been a big selling point for some of the council members about having an NHL franchise around.
Glendale city staffers, the City Manager, and City Attorney are all warning against the Coyotes deal. But all it was going to take was a simple 4-3 vote by the looks of things to lock in the Phoenix Coyotes current location for the near future.
From the appearance of things, the yes votes would be Sherwood, Knaack, Martinez and Chavira. The no votes will be Alvarez, Weiers and Hugh...
Hugh is concerned about budget cuts if the deal is approved and a staff member says it's possible.
Global Spectrum as a partner for RSE late in the game might be a bit of a game-changer... and any kind of transaction around the team and arena has to go through NHL vetting. But Global Spectrum could assist in bringing in more dates to be filled more than the 41 regular season dates the Coyotes are bringing to the table.
All this with the looming spectre of city workers not getting paid (or laid off) or any other first responder getting treated for his home visit before transporting people to local hospitals. There are talks about combining or eliminating resources should his perennial-loser of a deal goes through.
Services could be cut as a result...and the HQ knows how well that will go for a city hemorrhaging trying to pay for public services instead of allocating US$25-million to the league every year.
But voting happened in the 1:00 AM hour eastern time. It appears that the provision the city wanted in the deal having their own out clause equal to RSE's was pulled off the table- the deal breaker coming into tonight...
What this appears to be is another five-year holding pattern for the franchise... and when the Coyotes discussion occurs again in five years (or less if losses accumulate faster than US$10-million which the team traditionally has), the two cities who will be ready for the NHL (Seattle and Quebec City) will be ready for pro hockey - in whatever form available.
Unless expansion has taken those two places, Kansas City would be in play.
Hugh is evolving as a "no," Sherwood a "yes," Alvarez a "no," Martinez a "yes," Chavira (a fireman, by the way, as the swing vote) an evolving "yes," Knaack is an evolving "yes," and Weiers is a "no..."
Even as Weiers says: "I know how this vote's gonna go. I'm still very uncomfortable we're going to take all of the risk."
Chavira to LeBlanc: "If you fail, we fail, correct? I know you wouldn't get involved in this if you plan to fail."
The vote was 4-3 "yes" on resolution on roll call vote...
"Ayes" carry the resolution without roll call...
And there you go...
Mayor Weiers sat down a few months ago to discuss the on-again, off-again stuff in Glendale...
((HT: AZPBS))
More when we know more after sunrise...
The City Council put in a last-minute provision on having their own back out if the deal soured in five years time- the same provision RSE made in front of the City Council. Knowing that RSE would turn the two-sided out clause deal down, RSE came back with a "make whole" idea where, if team leaves after 5 yrs, RSE would reimburse the city up to US$6-million a season for the five years the team would have been active.
Wait... weren't we in this situation before...? The point surrendered in the meeting has been a big selling point for some of the council members about having an NHL franchise around.
Glendale city staffers, the City Manager, and City Attorney are all warning against the Coyotes deal. But all it was going to take was a simple 4-3 vote by the looks of things to lock in the Phoenix Coyotes current location for the near future.
From the appearance of things, the yes votes would be Sherwood, Knaack, Martinez and Chavira. The no votes will be Alvarez, Weiers and Hugh...
Hugh is concerned about budget cuts if the deal is approved and a staff member says it's possible.
Global Spectrum as a partner for RSE late in the game might be a bit of a game-changer... and any kind of transaction around the team and arena has to go through NHL vetting. But Global Spectrum could assist in bringing in more dates to be filled more than the 41 regular season dates the Coyotes are bringing to the table.
All this with the looming spectre of city workers not getting paid (or laid off) or any other first responder getting treated for his home visit before transporting people to local hospitals. There are talks about combining or eliminating resources should his perennial-loser of a deal goes through.
Services could be cut as a result...and the HQ knows how well that will go for a city hemorrhaging trying to pay for public services instead of allocating US$25-million to the league every year.
But voting happened in the 1:00 AM hour eastern time. It appears that the provision the city wanted in the deal having their own out clause equal to RSE's was pulled off the table- the deal breaker coming into tonight...
What this appears to be is another five-year holding pattern for the franchise... and when the Coyotes discussion occurs again in five years (or less if losses accumulate faster than US$10-million which the team traditionally has), the two cities who will be ready for the NHL (Seattle and Quebec City) will be ready for pro hockey - in whatever form available.
Unless expansion has taken those two places, Kansas City would be in play.
Hugh is evolving as a "no," Sherwood a "yes," Alvarez a "no," Martinez a "yes," Chavira (a fireman, by the way, as the swing vote) an evolving "yes," Knaack is an evolving "yes," and Weiers is a "no..."
Even as Weiers says: "I know how this vote's gonna go. I'm still very uncomfortable we're going to take all of the risk."
Chavira to LeBlanc: "If you fail, we fail, correct? I know you wouldn't get involved in this if you plan to fail."
The vote was 4-3 "yes" on resolution on roll call vote...
"Ayes" carry the resolution without roll call...
And there you go...
Mayor Weiers sat down a few months ago to discuss the on-again, off-again stuff in Glendale...
((HT: AZPBS))
More when we know more after sunrise...
Thursday, June 27, 2013
Renaissance Requests July 2 Endgame On Jobing.com Arena, Terms Released By Glendale...Bettman Speaks...City Manager Not Sold
Here is a release from RSE, in full, from Fox Arizona's Craig Morgan (@cmorganfoxaz), where Renaissance wants to see this whole thing come to a positive result...
RENAISSANCE REQUESTS ARENA LEASE PROPOSAL BE SENT TO GLENDALE CITY COUNCIL; JULY 2ND “YES” VOTE WOULD KEEP COYOTES IN ARIZONA
GLENDALE, ARIZ. – The four-year saga surrounding Jobing.com Arena and the Phoenix Coyotes appears poised to reach a conclusion on July 2nd. Last night, Renaissance Sports & Entertainment Group (RSE) formally requested that the City of Glendale put to a vote of its City Council a 15-year arena management agreement between RSE and the City. Additionally, three Glendale members have reportedly asked for the agreement to be put to a vote.
The management agreement – which RSE requested be agendized for a special Council meeting set for July 2nd or 3rd – is a prerequisite of RSE’s purchase of the Phoenix Coyotes hockey team from the National Hockey League.
The proposed deal takes into account the City’s financial challenges as well as RSE’s need to satisfy the NHL, financial institutions and its investors. Thus, the agreement balances an annual $15 million arena management fee with a series of revenue streams directed back to Glendale to defray the city’s costs.
Just as importantly, the agreement keeps the Coyotes – the arena’s anchor tenant 41 nights a year – playing in Glendale.
Anthony LeBlanc, managing partner of the Renaissance group, emphasized the agreement’s comparative value against previous offers to buy the Coyotes and operate the arena.
“The proposed agreement respects the City and Glendale’s taxpayers and creates a path to financial success for the arena, the team and our investors,” said LeBlanc. “Our deal represents the best value Glendale has had in an offer, and the most equity anyone has brought to the table in four years. The sooner this deal gets comes before Council for approval, the sooner we can aim for the Coyotes winning a Stanley Cup and get the arena headed toward profitability.”
The revenue streams for Glendale negotiated within the RSE proposal include ticket surcharges on hockey and non-hockey events, parking proceeds, shared proceeds from naming rights and rent paid to the City for the Coyotes’ use of the arena 41 nights a year. Projections estimate that revenues back to the City should total between $8.5 and $11 million annually. That leaves the net financial impact of the arena on the City between $4 and $6.5 million annually.
Glendale has budgeted $6.5 million to manage the arena this fiscal year.
“There have been a series of suitors trying to buy the team and manage the arena during the past four years. The Renaissance agreement is exponentially better than the two previous deals that nearly came to pass,” said LeBlanc. “The total cost of the arena management lease is tens of millions of dollars less than previous proposals. The net annual cost to the City is millions of dollars less.
“I believe in this team, I believe in this deal and I believe in this City,” said LeBlanc. “That’s why Renaissance is willing to take on the risk of managing the Coyotes franchise and the Glendale arena. They’ve been money-losers in the past. But with leaner, smarter management, we have tremendous upside for the team, the City and the Westgate region. We absolutely will be successful here.”
The HQ isn't really holding its breath on this one...
But the play is interesting by RSE to try and put pressure on the Glendale City Council to vote "yes..."
They look like the bad guys, now, if the vote goes negative...
1400 UPDATE: Mike Sunnucks has a look at the "deal..."
The deal includes an out-clause after five years if losses exceed $50-million...which they would, in about half that time frame
Glendale is, admittedly, squeamish... from Sunnucks:
Those include guaranteeing Renaissance a $15 million annual arena management payment before revenue sharing money comes to the city. The revenue sharing money in the deal slated for Glendale is not guaranteed and some of those funds are not necessarily new money.
Glendale officials are also concerned about the tight time frame for working out a $225 million deal and meeting a July 2 deadline set by the NHL.
Here are the current set of documents from the City of Glendale concerning the lease ideas...
And here is the Commish discussing the ideas before this weekend's NHL Draft
((HT: NHL.com))
And in a letter from the Glendale City Manager to the Council (and any other interested parties), Richard Bowers stil doesn't think this is anything close to a done deal...
RENAISSANCE REQUESTS ARENA LEASE PROPOSAL BE SENT TO GLENDALE CITY COUNCIL; JULY 2ND “YES” VOTE WOULD KEEP COYOTES IN ARIZONA
GLENDALE, ARIZ. – The four-year saga surrounding Jobing.com Arena and the Phoenix Coyotes appears poised to reach a conclusion on July 2nd. Last night, Renaissance Sports & Entertainment Group (RSE) formally requested that the City of Glendale put to a vote of its City Council a 15-year arena management agreement between RSE and the City. Additionally, three Glendale members have reportedly asked for the agreement to be put to a vote.
The management agreement – which RSE requested be agendized for a special Council meeting set for July 2nd or 3rd – is a prerequisite of RSE’s purchase of the Phoenix Coyotes hockey team from the National Hockey League.
The proposed deal takes into account the City’s financial challenges as well as RSE’s need to satisfy the NHL, financial institutions and its investors. Thus, the agreement balances an annual $15 million arena management fee with a series of revenue streams directed back to Glendale to defray the city’s costs.
Just as importantly, the agreement keeps the Coyotes – the arena’s anchor tenant 41 nights a year – playing in Glendale.
Anthony LeBlanc, managing partner of the Renaissance group, emphasized the agreement’s comparative value against previous offers to buy the Coyotes and operate the arena.
“The proposed agreement respects the City and Glendale’s taxpayers and creates a path to financial success for the arena, the team and our investors,” said LeBlanc. “Our deal represents the best value Glendale has had in an offer, and the most equity anyone has brought to the table in four years. The sooner this deal gets comes before Council for approval, the sooner we can aim for the Coyotes winning a Stanley Cup and get the arena headed toward profitability.”
The revenue streams for Glendale negotiated within the RSE proposal include ticket surcharges on hockey and non-hockey events, parking proceeds, shared proceeds from naming rights and rent paid to the City for the Coyotes’ use of the arena 41 nights a year. Projections estimate that revenues back to the City should total between $8.5 and $11 million annually. That leaves the net financial impact of the arena on the City between $4 and $6.5 million annually.
Glendale has budgeted $6.5 million to manage the arena this fiscal year.
“There have been a series of suitors trying to buy the team and manage the arena during the past four years. The Renaissance agreement is exponentially better than the two previous deals that nearly came to pass,” said LeBlanc. “The total cost of the arena management lease is tens of millions of dollars less than previous proposals. The net annual cost to the City is millions of dollars less.
“I believe in this team, I believe in this deal and I believe in this City,” said LeBlanc. “That’s why Renaissance is willing to take on the risk of managing the Coyotes franchise and the Glendale arena. They’ve been money-losers in the past. But with leaner, smarter management, we have tremendous upside for the team, the City and the Westgate region. We absolutely will be successful here.”
The HQ isn't really holding its breath on this one...
But the play is interesting by RSE to try and put pressure on the Glendale City Council to vote "yes..."
They look like the bad guys, now, if the vote goes negative...
1400 UPDATE: Mike Sunnucks has a look at the "deal..."
The deal includes an out-clause after five years if losses exceed $50-million...which they would, in about half that time frame
Glendale is, admittedly, squeamish... from Sunnucks:
Those include guaranteeing Renaissance a $15 million annual arena management payment before revenue sharing money comes to the city. The revenue sharing money in the deal slated for Glendale is not guaranteed and some of those funds are not necessarily new money.
Glendale officials are also concerned about the tight time frame for working out a $225 million deal and meeting a July 2 deadline set by the NHL.
Here are the current set of documents from the City of Glendale concerning the lease ideas...
And here is the Commish discussing the ideas before this weekend's NHL Draft
((HT: NHL.com))
And in a letter from the Glendale City Manager to the Council (and any other interested parties), Richard Bowers stil doesn't think this is anything close to a done deal...
Sunday, June 16, 2013
Coyotes Plan B: Seattle...???
((HT: Yahoo!Sports/Leahy))
In the Puck Daddy section, Sean Leahy now seemingly has more details on the Phoenix Coyotes situation...
Let's back track a few days here to Mike Sunnucks work in the Phoenix Business Journal...
Thursday's article had Glendale's concerns over the deal with Renaissance:
• The lack of equity and personal investments from Renaissance principals in their bid.
• The bid’s reliance on financing and loans from the National Hockey League and private equity investment firm Fortress Investment Group LLC (NYSE: FIG).
• Renaissance using funds from an arena deal with Glendale to pay debt service on their financing.
• A possible relocation of the team to Seattle or another market after a few more years in the West Valley.
We may not even get to point four...
On the "Satellite Hotstove" segment last night on CBC's "Hockey Night in Canada," FOSG Elliotte Friedman and Glenn Healy explained how we're getting to the idea of Phoenix to Seattle...
The Vancouver Canucks were looking for a home for their AHL franchise after they bought the Peoria Rivermen, and understandably, they wanted to put the team in Seattle. Strangely, it ended up in Utica, New York because the Key Arena folks said that the arena wasn't available for hockey.
Introducing your Utica Comets... complete with $5-million in state aid to renovate the arena in town that only seats 4,000 people...
((HT: WKTV-TV))
Even as KING-TV's Chris Daniels reported last week that the Key Arena has its ice-making equipment still in place and was functional:
Deborah Daoust spokesperson for Seattle Center, says ice making equipment and chilling system at #KeyArena is still operational
Reason being, according to Friedge and Glenn Healy, through Leahy:
Plan B for the NHL and Coyotes, if the latest candidate doesn't go through with the purchase, is to sell the team to investors Ray Bartoszek and Anthony Lanza, who previously engaged in discussions to purchase a 49-percent stake in the New York Mets in 2011, for $220 million. According to Glenn Healy, if those two do not get what they want by July 2 from the city of Glendale, then they would move the team to The Emerald City. Part of the new ownership group would be former NHLer and current NBC analyst Jeremy Roenick, who would help run the hockey operations department.
Whither Chris Hansen in all of this...???
Daniels sat down with him after the SacKings quest stopped...
((HT: KING-TV))
Let's see how Tuesday winds itself up...
Quoting Ol' JR: "Business is about to pick up..."
In the Puck Daddy section, Sean Leahy now seemingly has more details on the Phoenix Coyotes situation...
Let's back track a few days here to Mike Sunnucks work in the Phoenix Business Journal...
Thursday's article had Glendale's concerns over the deal with Renaissance:
• The lack of equity and personal investments from Renaissance principals in their bid.
• The bid’s reliance on financing and loans from the National Hockey League and private equity investment firm Fortress Investment Group LLC (NYSE: FIG).
• Renaissance using funds from an arena deal with Glendale to pay debt service on their financing.
• A possible relocation of the team to Seattle or another market after a few more years in the West Valley.
We may not even get to point four...
On the "Satellite Hotstove" segment last night on CBC's "Hockey Night in Canada," FOSG Elliotte Friedman and Glenn Healy explained how we're getting to the idea of Phoenix to Seattle...
The Vancouver Canucks were looking for a home for their AHL franchise after they bought the Peoria Rivermen, and understandably, they wanted to put the team in Seattle. Strangely, it ended up in Utica, New York because the Key Arena folks said that the arena wasn't available for hockey.
Introducing your Utica Comets... complete with $5-million in state aid to renovate the arena in town that only seats 4,000 people...
((HT: WKTV-TV))
Even as KING-TV's Chris Daniels reported last week that the Key Arena has its ice-making equipment still in place and was functional:
Deborah Daoust spokesperson for Seattle Center, says ice making equipment and chilling system at #KeyArena is still operational
Reason being, according to Friedge and Glenn Healy, through Leahy:
Plan B for the NHL and Coyotes, if the latest candidate doesn't go through with the purchase, is to sell the team to investors Ray Bartoszek and Anthony Lanza, who previously engaged in discussions to purchase a 49-percent stake in the New York Mets in 2011, for $220 million. According to Glenn Healy, if those two do not get what they want by July 2 from the city of Glendale, then they would move the team to The Emerald City. Part of the new ownership group would be former NHLer and current NBC analyst Jeremy Roenick, who would help run the hockey operations department.
Whither Chris Hansen in all of this...???
Daniels sat down with him after the SacKings quest stopped...
((HT: KING-TV))
Let's see how Tuesday winds itself up...
Quoting Ol' JR: "Business is about to pick up..."
Friday, June 14, 2013
Glendale Claims Another Buyer Exists For Coyotes (UPDATE: There May Be A Deal)
((HT: Arizona Republic/Bickley))
All this stems from Bickley's column from yesterday...
And stop the HQ if you've heard this a billion times over the last four off-seasons...
There's a meeting of the Glendale City Council on Tuesday- and the HQ had no idea who the four groups are that have bid on the idea of running jobing.com arena without an anchor tenant until today. And that, we're fairly sure is a violation of the state's Sunshine Laws...
The Arizona Republic got the list: One of the four bidders is Phoenix Arena Development Limited Partnership, a subsidiary of the NBA's Phoenix Suns that manages US Airways Center.
The other three are Philadelphia-based SMG and two local firms -- the Phoenix Monarch Group and R Entertainment.
Anyway, the HQ digresses:
From Bickley and his conversation with Councilman Gary Sherwood...
a mystery candidate that Sherwood would not reveal, one with a lot of cash and better terms for his city.
The mystery buyer told Sherwood he’d have his bid together by Friday. It sounded too good to be true.
I’ll pause while you roll your eyes.
“But that’s part of the problem,” Sherwood said. “There are other groups lurking that the NHL hasn’t brought to us. They have their one candidate. And the way I look at it is, maybe Renaissance (Sports and Entertainment) is the best for the NHL, but maybe only second- or third-best for Glendale.”
Another source said the mystery buyer is real and would bring real money to the table. Renaissance’s deal is heavy on loans, short on equity, and no person has more than a $10 million stake in the game. They want an out clause after four to five years, creating fears that they conceivably could run the team into the ground and bail.
Which, the HQ thinks, is the re-emergence of Matthew Hulsizer and his folks...
So, the larger thought is: Will Glendale do an end run on the NHL to get their Coyotes to stay, or are they screwed as a lame duck franchise that will be heading to Quebec City or Seattle...???
Remember, realignment hasn't officially taken hold, and all it really takes is for the west to stay west and for a midwest team to slide (or a Dallas)... it won't be hard...
PM UPDATE: Sportsnet's John Shannon is saying that Renaissance and the city of Glendale have agreed in principle to a deal of some sort that includes the closing of the gap between the $6-million the city has budgeted for managing jobing.com arena and the $15-million RSE was reportedly looking for...
Somehow...
But the vote is still supposed to be made Tuesday at the city council meeting... it may not be a done deal for a city operating at a deficit already...
Shannon says the deal is for 15 years- pending approval...
All this stems from Bickley's column from yesterday...
And stop the HQ if you've heard this a billion times over the last four off-seasons...
There's a meeting of the Glendale City Council on Tuesday- and the HQ had no idea who the four groups are that have bid on the idea of running jobing.com arena without an anchor tenant until today. And that, we're fairly sure is a violation of the state's Sunshine Laws...
The Arizona Republic got the list: One of the four bidders is Phoenix Arena Development Limited Partnership, a subsidiary of the NBA's Phoenix Suns that manages US Airways Center.
The other three are Philadelphia-based SMG and two local firms -- the Phoenix Monarch Group and R Entertainment.
Anyway, the HQ digresses:
From Bickley and his conversation with Councilman Gary Sherwood...
a mystery candidate that Sherwood would not reveal, one with a lot of cash and better terms for his city.
The mystery buyer told Sherwood he’d have his bid together by Friday. It sounded too good to be true.
I’ll pause while you roll your eyes.
“But that’s part of the problem,” Sherwood said. “There are other groups lurking that the NHL hasn’t brought to us. They have their one candidate. And the way I look at it is, maybe Renaissance (Sports and Entertainment) is the best for the NHL, but maybe only second- or third-best for Glendale.”
Another source said the mystery buyer is real and would bring real money to the table. Renaissance’s deal is heavy on loans, short on equity, and no person has more than a $10 million stake in the game. They want an out clause after four to five years, creating fears that they conceivably could run the team into the ground and bail.
Which, the HQ thinks, is the re-emergence of Matthew Hulsizer and his folks...
So, the larger thought is: Will Glendale do an end run on the NHL to get their Coyotes to stay, or are they screwed as a lame duck franchise that will be heading to Quebec City or Seattle...???
Remember, realignment hasn't officially taken hold, and all it really takes is for the west to stay west and for a midwest team to slide (or a Dallas)... it won't be hard...
PM UPDATE: Sportsnet's John Shannon is saying that Renaissance and the city of Glendale have agreed in principle to a deal of some sort that includes the closing of the gap between the $6-million the city has budgeted for managing jobing.com arena and the $15-million RSE was reportedly looking for...
Somehow...
But the vote is still supposed to be made Tuesday at the city council meeting... it may not be a done deal for a city operating at a deficit already...
Shannon says the deal is for 15 years- pending approval...
Wednesday, June 12, 2013
NHL Kinda Admits Glendale May Have Problems (UPDATED With Seattle POV And Bettman On Seattle)
((HT: TSN))
NHL deputy commissioner Bill Daly and Commissioner Gary Bettman had their press conference of the "State of the State" in Chicago before Game 1 of the Stanley Cup Final. And they're now admitting that there might be a problem in Phoenix with the Coyotes and their lack of an owner.
Maybe...
Maybe big enough to do something about it...
Like move them... or something... if a new ownership group (aka- Renaissance) can't reach a deal to keep the team in Glendale at jobing.com Arena.
Commissioner Bettman said at the press conference that "time is getting short" finding a solution to keep the team in Arizona. And Daly admits that the new schedule release will be pushed back because of the Coyotes' situation- and there might not even be a team to call Phoenix's next season...
"It certainly means that it's possible that the team won't play there next year," Daly said.
But the place where the Coyotes could land- if at all- is an unknown...
Asked if there must be some kind of an answer by the June 27 NHL Board of Governors meeting, Bettman told the assembled media "maybe."
You'll recall that Daly and Bettman held meetings with the Glendale City Council late last month- separately, not as a group of seven. Some say that the reason was to avoid the Open Meetings Law in the state of Arizona. Others say it was because the scheduling just... didn't... work... out...
Choose your version...
The city of Glendale is budgeting only $6-million where the Anthony LeBlanc-led group Renaissance Group is looking for a figure closer to $15-million. The city is looking to award the contract for managing jobing.com by June 25th. Four companies have bid, but none of the names have been made public.
Which is another problem in Glendale...
All this could go down...
Two days before the BOG Meeting...
Here's Dan Bickley talking about the shenanigans from a while back...
((HT: azcentral.com))
“The puck is in the City of Glendale’s end,” NHL Deputy Commissioner Bill Daly said. Indeed... PM UPDATE: Chris Daniels from KING-TV in Seattle, who monitored the whole SacKings to Seattle idea, has checked with the folks that run Key Arena... through his Twitter... Deborah Daoust spokesperson for Seattle Center, says ice making equipment and chilling system at #KeyArena is still operational Key Arena hosted a 'Stars on Ice' show back in 2012. Obviously, not hockey. Daoust also says the Key Arena dates, that were being held for an NBA team, have been freed up. Not being held for any other reason So, the short version is that Seattle looks like they're clearing the runway just in case... And, so is Quebec City... Here's an interview that Bettman did with KING-TV when discussing Seattle...
NHL deputy commissioner Bill Daly and Commissioner Gary Bettman had their press conference of the "State of the State" in Chicago before Game 1 of the Stanley Cup Final. And they're now admitting that there might be a problem in Phoenix with the Coyotes and their lack of an owner.
Maybe...
Maybe big enough to do something about it...
Like move them... or something... if a new ownership group (aka- Renaissance) can't reach a deal to keep the team in Glendale at jobing.com Arena.
Commissioner Bettman said at the press conference that "time is getting short" finding a solution to keep the team in Arizona. And Daly admits that the new schedule release will be pushed back because of the Coyotes' situation- and there might not even be a team to call Phoenix's next season...
"It certainly means that it's possible that the team won't play there next year," Daly said.
But the place where the Coyotes could land- if at all- is an unknown...
Asked if there must be some kind of an answer by the June 27 NHL Board of Governors meeting, Bettman told the assembled media "maybe."
You'll recall that Daly and Bettman held meetings with the Glendale City Council late last month- separately, not as a group of seven. Some say that the reason was to avoid the Open Meetings Law in the state of Arizona. Others say it was because the scheduling just... didn't... work... out...
Choose your version...
The city of Glendale is budgeting only $6-million where the Anthony LeBlanc-led group Renaissance Group is looking for a figure closer to $15-million. The city is looking to award the contract for managing jobing.com by June 25th. Four companies have bid, but none of the names have been made public.
Which is another problem in Glendale...
All this could go down...
Two days before the BOG Meeting...
Here's Dan Bickley talking about the shenanigans from a while back...
((HT: azcentral.com))
“The puck is in the City of Glendale’s end,” NHL Deputy Commissioner Bill Daly said. Indeed... PM UPDATE: Chris Daniels from KING-TV in Seattle, who monitored the whole SacKings to Seattle idea, has checked with the folks that run Key Arena... through his Twitter... Deborah Daoust spokesperson for Seattle Center, says ice making equipment and chilling system at #KeyArena is still operational Key Arena hosted a 'Stars on Ice' show back in 2012. Obviously, not hockey. Daoust also says the Key Arena dates, that were being held for an NBA team, have been freed up. Not being held for any other reason So, the short version is that Seattle looks like they're clearing the runway just in case... And, so is Quebec City... Here's an interview that Bettman did with KING-TV when discussing Seattle...
Wednesday, June 5, 2013
Possible Coyotes Owners Looking For Separate Arena Deal...? (OR: Is Glendale Looking For a Back-Up Plan...?)
((HT: Phoenix Business Journal/Sunnucks))
Interesting thoughts from the mandatory reading of Mike Sunnucks in Phoenix on the state of the Coyotes...
It appears that the new contender for wanting to buy the team is not one of the bidders to manage Jobing.com Arena at the same time...
The Anthony LeBlanc-led Renaissance Sports & Entertainment still seems to be interested in working out a deal with the city of Glendale to run jobing.com, but they're not on the list of having sent in a proposal to do it. There's no word on whether or not they want someone else to do their bidding for them.
The city of Glendale hired an outfit called Beacon Sports Capital Partners, LLC to sort through the bids and bidders.
But, here's the hook from Sunnucks:
The names of those bidders have not yet been disclosed. They could include groups offering alternative uses to Jobing.com Arena if the Coyotes end up moving out of the Phoenix market.
Past Coyotes bids that failed also have hinged on getting favorable arena terms and other financing from Glendale.
So, could this mean that the Glendale folks are trying to get a back-up tenant anticipating a Coyotes move since Renaissance wants to split hairs with their bid...???
The American Hockey League is out since the Houston Aeros have been turned into the Iowa Wild
The ECHL could be a contender if someone wants to move...
But the HQ's money is on something close to the Central Hockey League... Jim Treliving is one of those kind of guys that will be more than happy to create an arena management situation complete with tenants...
The Sundogs hosted the 2012 CHL All-Star Game in Prescott in the past...
((HT: Arizona Sundogs))
Interesting thoughts from the mandatory reading of Mike Sunnucks in Phoenix on the state of the Coyotes...
It appears that the new contender for wanting to buy the team is not one of the bidders to manage Jobing.com Arena at the same time...
The Anthony LeBlanc-led Renaissance Sports & Entertainment still seems to be interested in working out a deal with the city of Glendale to run jobing.com, but they're not on the list of having sent in a proposal to do it. There's no word on whether or not they want someone else to do their bidding for them.
The city of Glendale hired an outfit called Beacon Sports Capital Partners, LLC to sort through the bids and bidders.
But, here's the hook from Sunnucks:
The names of those bidders have not yet been disclosed. They could include groups offering alternative uses to Jobing.com Arena if the Coyotes end up moving out of the Phoenix market.
Past Coyotes bids that failed also have hinged on getting favorable arena terms and other financing from Glendale.
So, could this mean that the Glendale folks are trying to get a back-up tenant anticipating a Coyotes move since Renaissance wants to split hairs with their bid...???
The American Hockey League is out since the Houston Aeros have been turned into the Iowa Wild
The ECHL could be a contender if someone wants to move...
But the HQ's money is on something close to the Central Hockey League... Jim Treliving is one of those kind of guys that will be more than happy to create an arena management situation complete with tenants...
The Sundogs hosted the 2012 CHL All-Star Game in Prescott in the past...
((HT: Arizona Sundogs))
Tuesday, May 28, 2013
Worst Kept Secret In Glendale: NHL, Coyotes, Possible Owners Meet
((HT: azcentral.com/KPNX-TV))
The group that wants to buy the Phoenix Coyotes, Renaissance Sports and Entertainment (otherwise known as the Gosbee/LeBlanc group), the National Hockey League, and the city of Glendale all met together to see if there is a future relationship among the three of them.
The hook in all of this is, probably, going to come down to how much RSE wants to run jobing.com arena since the two figures could be as much as ten million dollars apart- per year. The Arizona Republic has the figure close to $6-million where prospective owners want as much as $15-million.
But the city of Glendale has a fiscal year that starts July 1 and the National Hockey League wants to have a printed schedule out by mid-June. The league and Renaissance have agreed on a price, according to Bill Daly.
Here's the look at the not-so-secret secret meetings...
More when we know more...
The group that wants to buy the Phoenix Coyotes, Renaissance Sports and Entertainment (otherwise known as the Gosbee/LeBlanc group), the National Hockey League, and the city of Glendale all met together to see if there is a future relationship among the three of them.
The hook in all of this is, probably, going to come down to how much RSE wants to run jobing.com arena since the two figures could be as much as ten million dollars apart- per year. The Arizona Republic has the figure close to $6-million where prospective owners want as much as $15-million.
But the city of Glendale has a fiscal year that starts July 1 and the National Hockey League wants to have a printed schedule out by mid-June. The league and Renaissance have agreed on a price, according to Bill Daly.
Here's the look at the not-so-secret secret meetings...
More when we know more...
Saturday, May 25, 2013
A Sale For The Coyotes: We've Heard This Before...
((HT: Arizona Sports))
The HQ isn't really holding it's collective breath on this one, but we have heard this before, but there is word that a deal is in place for the sale of the Phoenix Coyotes to Renaissance Sports and Entertainment- the Gosbee/LeBlanc group.
Fox Sports Arizona's Craig Morgan reported on his Twitter page that NHL officials Gary Bettman and Bill Daly, along with Gosbee and LeBlanc will meet with Glendale officials next week.
Sources also telling me that the NHL and Gosbee/LeBlanc (Renaissance Sports & Entertainment) have agreed to a deal for #Coyotes purchase.
Glendale councilmember Gary Sherwood: “Gary (Bettman) told us all along that if the league had three suitors for the team, they wouldn’t come to us until they had selected one that they felt was the best group. That is exactly has happened.”
While the sale may be approved by the NHL, any prospective buyer would still have to strike a deal with Glendale for the management of the city-owned arena. And that is the wild card in all of this...
If the Arizona Republic is saying one figure for operating the arena and prospective owners wanted twice that figure, and the city of Glendale will be trying to not give out any kind of subsidy for a new owner- then, there won't be a lot of wiggle room...
Here was Morgan when he was forced to chase down Darin Pastor- before he was turned down rather quickly...
((HT: FS Arizona))
The HQ isn't really holding it's collective breath on this one, but we have heard this before, but there is word that a deal is in place for the sale of the Phoenix Coyotes to Renaissance Sports and Entertainment- the Gosbee/LeBlanc group.
Fox Sports Arizona's Craig Morgan reported on his Twitter page that NHL officials Gary Bettman and Bill Daly, along with Gosbee and LeBlanc will meet with Glendale officials next week.
Sources also telling me that the NHL and Gosbee/LeBlanc (Renaissance Sports & Entertainment) have agreed to a deal for #Coyotes purchase.
Glendale councilmember Gary Sherwood: “Gary (Bettman) told us all along that if the league had three suitors for the team, they wouldn’t come to us until they had selected one that they felt was the best group. That is exactly has happened.”
While the sale may be approved by the NHL, any prospective buyer would still have to strike a deal with Glendale for the management of the city-owned arena. And that is the wild card in all of this...
If the Arizona Republic is saying one figure for operating the arena and prospective owners wanted twice that figure, and the city of Glendale will be trying to not give out any kind of subsidy for a new owner- then, there won't be a lot of wiggle room...
Here was Morgan when he was forced to chase down Darin Pastor- before he was turned down rather quickly...
((HT: FS Arizona))
Wednesday, March 27, 2013
And Start The Coyotes Relocation Talk Again In 3,2,1... (UPDATED W/New, Old Pursuers- Thursday and Friday)
Darren Dreger over at #TSN was releasing this info tonight on his Twitter:
NHL continues to fight to keep Yotes in Glendale, however, relocation decision could take place before the playoffs.
Quebec City, Seattle and Kansas City among relocation sites. Aside from conference issues, Que City appears best fit. Far from done deal...
Aaron Ward followed up:
NHLPA source,expect decision to come before start of playoffs.Gone is Glendale $25M subsidy
It looks like the city is tired of dealing (finally)... the Coyotes are 13th in the west, last in the Pacific, and came into Wednesday losers of four in a row...
They're next to last in attendance figures for home games- only 780 people or so over the Islanders- at just under 80-percent capacity.
Here was the Greg Jamison speech in front of the Glendale City Council back in November...
And the initial introduction of Jamison by Commissioner Gary Bettman as the savior du jour during the playoffs last season...
But, then, surprising no one really... everything hit a snag... and Jamison would never announce who his partners are/were as of a month ago...everything crapped out... Jamison was supposedly working on a new deal, but there's nothing imminent...
((HT: ABC15))
So, remember where we were last month... two months ago... last year...???
Well, we're back to where we started... only thing is JoJo is in Tucson...
Hey, they were close...
Thursday Update: Per OSG Sources in Arizona, AltaCorp Capital chairman & CEO George Gosbee is working with Anthony LeBlanc on @NHL_Coyotes purchase... so, we're back there...
Yep. Ice Edge is back with Gosbee- for those of you unfamiliar: Gosbee founded AltaCorp Capital, a new Canadian investment bank in 2010. As well, he is co-chair of AIMCo (Alberta Investment Management corp), a $70 billion investment fund. Sportsnet's John Shannon thinks a proposal could be done by the beginning of next week after the Easter holiday.
Friday Update: Darin Pastor, via press release, decided to throw his hat in the ring...
If the name rings a bell, it's because his grandfather and uncles owned the Buffalo Bisons in the 50's, 60's, and '70's.
"If we have an opportunity to acquire the franchise, we will do everything we can to make sure it stays in the great city of Glendale and continues to enhance the Phoenix metropolitan area."
Pastor is currently founder and CEO of Capstone Affluent Strategies- whatever that is...
NHL continues to fight to keep Yotes in Glendale, however, relocation decision could take place before the playoffs.
Quebec City, Seattle and Kansas City among relocation sites. Aside from conference issues, Que City appears best fit. Far from done deal...
Aaron Ward followed up:
NHLPA source,expect decision to come before start of playoffs.Gone is Glendale $25M subsidy
It looks like the city is tired of dealing (finally)... the Coyotes are 13th in the west, last in the Pacific, and came into Wednesday losers of four in a row...
They're next to last in attendance figures for home games- only 780 people or so over the Islanders- at just under 80-percent capacity.
Here was the Greg Jamison speech in front of the Glendale City Council back in November...
And the initial introduction of Jamison by Commissioner Gary Bettman as the savior du jour during the playoffs last season...
But, then, surprising no one really... everything hit a snag... and Jamison would never announce who his partners are/were as of a month ago...everything crapped out... Jamison was supposedly working on a new deal, but there's nothing imminent...
((HT: ABC15))
So, remember where we were last month... two months ago... last year...???
Well, we're back to where we started... only thing is JoJo is in Tucson...
Hey, they were close...
Thursday Update: Per OSG Sources in Arizona, AltaCorp Capital chairman & CEO George Gosbee is working with Anthony LeBlanc on @NHL_Coyotes purchase... so, we're back there...
Yep. Ice Edge is back with Gosbee- for those of you unfamiliar: Gosbee founded AltaCorp Capital, a new Canadian investment bank in 2010. As well, he is co-chair of AIMCo (Alberta Investment Management corp), a $70 billion investment fund. Sportsnet's John Shannon thinks a proposal could be done by the beginning of next week after the Easter holiday.
Friday Update: Darin Pastor, via press release, decided to throw his hat in the ring...
If the name rings a bell, it's because his grandfather and uncles owned the Buffalo Bisons in the 50's, 60's, and '70's.
"If we have an opportunity to acquire the franchise, we will do everything we can to make sure it stays in the great city of Glendale and continues to enhance the Phoenix metropolitan area."
Pastor is currently founder and CEO of Capstone Affluent Strategies- whatever that is...
Thursday, August 30, 2012
Glendale Asks Jamison For A Redo
((HT: Azcentral.com/Halverstadt))
Lisa Halverstadt reports that now since potential Phoenix Coyotes owner Greg Jamison claims he has the money to get ready for his US$324-million purchase of the team, the Glendale City Council wants to rework the lease since...
From the article:
"...the Arizona Court of Appeals ruled last week that a initiative with a goal of reversing a sales-tax hike expected to help Glendale cover its bills, including next year's budgeted $17 million arena-management fee to Jamison, should appear on the November ballot. The city has since asked the state Supreme Court to weigh in on the latter matter."
In a closed-door session, the City Council decided that until amendments are made to the proposal and Jamison actually does buy the team, that they won't sign the deal...
This was Jamison back in May...
((HT: NHLVideo/MyGlendale11))
If the high courts keep the sales tax vote on November's ballot and it gets voted down, then $20-million goes out the window...
And that won't go over well for the long-term success of the team in Arizona...
Lisa Halverstadt reports that now since potential Phoenix Coyotes owner Greg Jamison claims he has the money to get ready for his US$324-million purchase of the team, the Glendale City Council wants to rework the lease since...
From the article:
"...the Arizona Court of Appeals ruled last week that a initiative with a goal of reversing a sales-tax hike expected to help Glendale cover its bills, including next year's budgeted $17 million arena-management fee to Jamison, should appear on the November ballot. The city has since asked the state Supreme Court to weigh in on the latter matter."
In a closed-door session, the City Council decided that until amendments are made to the proposal and Jamison actually does buy the team, that they won't sign the deal...
This was Jamison back in May...
((HT: NHLVideo/MyGlendale11))
If the high courts keep the sales tax vote on November's ballot and it gets voted down, then $20-million goes out the window...
And that won't go over well for the long-term success of the team in Arizona...
Thursday, June 28, 2012
DEVELOPING: Judge Upholds Glendale Vote On Yotes Sale
((HT: USAToday))
But all that really means that is that any legal recourse will have to come from the voters of Glendale themselves and not the Goldwater Institute...
Judge Dean Fink rejected Goldwater's argument- suing to invalidate the Glendale City Council's decision to approve the sale of the Phoenix Coyotes to Greg Jamison and paying him US$324-million over 20 years (US$90-million in the first four years). Goldwater maintained the Council didn't have the necessary votes and that the city failed to put an arena management contract up for bid- claiming it was an emergency status that would supersede any public referendum.
And that's where we are now...
Registered voters in Glendale are trying to come up with just over 1,800 signatures by early July to put the City Council decision to referendum in November.
That would gum up any sale certainly...
"We are disappointed in today's decision but we are glad that Glendale taxpayers have taken matters into their own hands by working to refer the arena management deal to the ballot," Goldwater's Darcy Olsen said in a statement...
So, the HQ continues to see what is left... and see who isn't saying anything...
Are you listening Quebec City...???
Of course, you are...
But all that really means that is that any legal recourse will have to come from the voters of Glendale themselves and not the Goldwater Institute...
Judge Dean Fink rejected Goldwater's argument- suing to invalidate the Glendale City Council's decision to approve the sale of the Phoenix Coyotes to Greg Jamison and paying him US$324-million over 20 years (US$90-million in the first four years). Goldwater maintained the Council didn't have the necessary votes and that the city failed to put an arena management contract up for bid- claiming it was an emergency status that would supersede any public referendum.
And that's where we are now...
Registered voters in Glendale are trying to come up with just over 1,800 signatures by early July to put the City Council decision to referendum in November.
That would gum up any sale certainly...
"We are disappointed in today's decision but we are glad that Glendale taxpayers have taken matters into their own hands by working to refer the arena management deal to the ballot," Goldwater's Darcy Olsen said in a statement...
So, the HQ continues to see what is left... and see who isn't saying anything...
Are you listening Quebec City...???
Of course, you are...
Tuesday, June 19, 2012
DEVELOPING: Judge Invalidates Part Of Glendale Agreement, Referendum On The Clock
((HT: AZRepublic/Halverstadt, The Glendale Star/Dryer))
Lisa Halverstadt of the Republic is, probably, giving all of us the first salvo that could spell the end of the Coyotes in Phoenix.
Maricopa County ((AZ)) Superior Court Judge Dean Fink invalidated one section of Glendale City Council's lease agreement with Greg Jamison. Judge Fink requested the not reflect that it was not passed as an emergency order. In theory, the vote could have been put up as a referendum and it wasn't...
"There was a request that I invalidate the entire ordinance. I'm only willing to say section 7 is inoperable," Fink said.
Immediately after the hearing, Glendale resident Joe Cobb, represented by the Goldwater Institute, said he plans to start collecting signatures Wednesday for a referendum. The referendum needs 1,862 valid signatures within 30 days of passage of the ordinance. It needs to be validated by July 5th, according to FOSG Fred Poulin and his Twitter feed...
To clarify, from Dryer's article...
To qualify for a referendum on the November ballot, (Owner/Manager of Sanderson Ford, David) Kimmerle’s group needs to gather 1,862 signatures and turn in enough valid petitions by July 5 to be placed on the city’s November ballot. But the referendum action cannot legally start until the council takes action, and that is not scheduled to occur – by law – until June 26.
Arizona Revised Statute 19-142 requires a referendum petition to be filed with the city clerk within 30 days after passage of the ordinance, resolution or franchise. In this instance, the city council is expected to approve the increased taxes June 26, which gives Kimmerle’s group until July 26 to turn in petitions to the city clerk.
However, to qualify for a referendum on the November ballot (by state law, four months before the general election), Kimmerle’s group needs to gather 1,862 signatures and turn in enough valid petitions by July 5 to be placed on the city’s November ballot. The 1,862 figure is 10 percent of the qualified electors in the city’s 2008 mayoral race – 18,620.
Here's the court battle, thanks to our friends at 12News...
Lisa Halverstadt of the Republic is, probably, giving all of us the first salvo that could spell the end of the Coyotes in Phoenix.
Maricopa County ((AZ)) Superior Court Judge Dean Fink invalidated one section of Glendale City Council's lease agreement with Greg Jamison. Judge Fink requested the not reflect that it was not passed as an emergency order. In theory, the vote could have been put up as a referendum and it wasn't...
"There was a request that I invalidate the entire ordinance. I'm only willing to say section 7 is inoperable," Fink said.
Immediately after the hearing, Glendale resident Joe Cobb, represented by the Goldwater Institute, said he plans to start collecting signatures Wednesday for a referendum. The referendum needs 1,862 valid signatures within 30 days of passage of the ordinance. It needs to be validated by July 5th, according to FOSG Fred Poulin and his Twitter feed...
To clarify, from Dryer's article...
To qualify for a referendum on the November ballot, (Owner/Manager of Sanderson Ford, David) Kimmerle’s group needs to gather 1,862 signatures and turn in enough valid petitions by July 5 to be placed on the city’s November ballot. But the referendum action cannot legally start until the council takes action, and that is not scheduled to occur – by law – until June 26.
Arizona Revised Statute 19-142 requires a referendum petition to be filed with the city clerk within 30 days after passage of the ordinance, resolution or franchise. In this instance, the city council is expected to approve the increased taxes June 26, which gives Kimmerle’s group until July 26 to turn in petitions to the city clerk.
However, to qualify for a referendum on the November ballot (by state law, four months before the general election), Kimmerle’s group needs to gather 1,862 signatures and turn in enough valid petitions by July 5 to be placed on the city’s November ballot. The 1,862 figure is 10 percent of the qualified electors in the city’s 2008 mayoral race – 18,620.
Here's the court battle, thanks to our friends at 12News...
Sunday, June 17, 2012
Another Conservative Group May Chase Coyotes Legal Solution
((HT: Phoenix Business Journal/Sunnucks, Sporting News))
Mike Sunnucks is writing that Steve Voeller, president of the Arizona Free Enterprise Club, doesn’t like Glendale’s Coyotes deal (surprise) with Greg Jamison and said his group is considering a referendum on a ballot-to-be-named-later and possibly even recalling the Glendale City Council.
The Enterprise initiative would, probably, be separate from anything the Goldwater Institute may do...
So, now you have more than one group interested in challenging the deal the city of Glendale made with Jamison and the HQ is fairly certain that any challenge that would come from outside Glendale would be challenged by Glendale itself.
See the challenge...???
From Sunnucks:
"The city is in compliance with the laws applicable to the Jobing.com Arena management agreement. This agreement will provide the maximum benefit from the arena to the citizens of Glendale over its term,” said city spokesman Jerry McCoy.
Lisa Halverstadt of the Arizona Republic talked with Bill Daly Friday:
"At this point, the lawsuit has not impacted the process," Daly said, adding that he reserves further judgment until after a Tuesday court hearing on the case.
Daly also said the NHL expects to release its 2012-13 schedule in "the relative near term" and that the schedule will likely assume the Coyotes play in Glendale.
"Both the business and the hockey operations departments have direction with regard to the parameters within which they are expected to operate," Daly said.
More when know more...
Mike Sunnucks is writing that Steve Voeller, president of the Arizona Free Enterprise Club, doesn’t like Glendale’s Coyotes deal (surprise) with Greg Jamison and said his group is considering a referendum on a ballot-to-be-named-later and possibly even recalling the Glendale City Council.
The Enterprise initiative would, probably, be separate from anything the Goldwater Institute may do...
So, now you have more than one group interested in challenging the deal the city of Glendale made with Jamison and the HQ is fairly certain that any challenge that would come from outside Glendale would be challenged by Glendale itself.
See the challenge...???
From Sunnucks:
"The city is in compliance with the laws applicable to the Jobing.com Arena management agreement. This agreement will provide the maximum benefit from the arena to the citizens of Glendale over its term,” said city spokesman Jerry McCoy.
Lisa Halverstadt of the Arizona Republic talked with Bill Daly Friday:
"At this point, the lawsuit has not impacted the process," Daly said, adding that he reserves further judgment until after a Tuesday court hearing on the case.
Daly also said the NHL expects to release its 2012-13 schedule in "the relative near term" and that the schedule will likely assume the Coyotes play in Glendale.
"Both the business and the hockey operations departments have direction with regard to the parameters within which they are expected to operate," Daly said.
More when know more...
Wednesday, June 13, 2012
DEVELOPING: Goldwater Files Suit In Glendale
The Goldwater Institute has filed a lawsuit seeking to invalidate the Glendale City Council's vote to approve the lease agreement for Jobing.com Arena with Greg Jamison.
The lawsuit was filed in Maricopa County Superior Court on behalf of two Glendale taxpayers, claiming last week's vote violated a 2009 court order requiring Glendale to provide all documents in negotiations between the city and a prospective owner to Goldwater in a timely manner.
“We continue to hope that the city will construct a lawful deal that protects the interests of Glendale taxpayers,” said Goldwater Institute President Darcy Olsen. “Without seeing critical exhibits contained in the arena management agreement such as the arena annual budget or the arena management performance standards, it is not possible to determine the constitutional validity of the agreement.”
From Goldwater:
The lawsuit filed by the Goldwater Institute also alleges that the city violated its own charter in casting a vote on a proposed arena management agreement without putting the arena management contract out to bid.
NHL Deputy Commissioner Bill Daly when asked: "We are not in control of Goldwater.. they will do what they think they need to do and we will do the same..."
Councilwoman Joyce Clark, who voted for the Jamison bid, explained her position via her Twitter feed:
Re: GWI's whine that there should have been competitive bids. The universe of potential hockey team owners who also want to manage an arena and perhaps (please GOD) buy the arena and reduce our debt is very, very small. Gl entertained 4, what was determined to be Ice-Edge, Hulsizer, Reinsdorf and Kaites. Gl determined that Jamison is a responsive bid. To pursue bids from a lease mgt co that has no affiliation to an anchor hockey team is an exercise similar to comparing monkeys to fish. Really?
The lawsuit was filed in Maricopa County Superior Court on behalf of two Glendale taxpayers, claiming last week's vote violated a 2009 court order requiring Glendale to provide all documents in negotiations between the city and a prospective owner to Goldwater in a timely manner.
“We continue to hope that the city will construct a lawful deal that protects the interests of Glendale taxpayers,” said Goldwater Institute President Darcy Olsen. “Without seeing critical exhibits contained in the arena management agreement such as the arena annual budget or the arena management performance standards, it is not possible to determine the constitutional validity of the agreement.”
From Goldwater:
The lawsuit filed by the Goldwater Institute also alleges that the city violated its own charter in casting a vote on a proposed arena management agreement without putting the arena management contract out to bid.
NHL Deputy Commissioner Bill Daly when asked: "We are not in control of Goldwater.. they will do what they think they need to do and we will do the same..."
Councilwoman Joyce Clark, who voted for the Jamison bid, explained her position via her Twitter feed:
Re: GWI's whine that there should have been competitive bids. The universe of potential hockey team owners who also want to manage an arena and perhaps (please GOD) buy the arena and reduce our debt is very, very small. Gl entertained 4, what was determined to be Ice-Edge, Hulsizer, Reinsdorf and Kaites. Gl determined that Jamison is a responsive bid. To pursue bids from a lease mgt co that has no affiliation to an anchor hockey team is an exercise similar to comparing monkeys to fish. Really?
Friday, June 8, 2012
BREAKING: Glendale Votes For Coyotes 4-2, Goldwater Thinking Next Move...
More when we know more...
But look for the Goldwater Institute to jump in...
Soon...
Here's the initial analysis from our friends at ABC15
The council ratified the 20-year, nearly $325 million agreement after a sometimes-contentious six-hour meeting attended by Greg Jamison, NHL Commissioner Gary Bettman and Deputy Commissioner Bill Daly.
Outgoing mayor Elaine Scruggs admitted in a minority opinion: "We just cannot afford this." The city rules require the rainy day fund have the equivalent of 10-percent of projected revenues. It doesn't...
The $17-million that is supposed to go to Jamison for next season, in part, is coming from a contribution in a city sales tax hike. Within five years, Jamison has option to buy (what is currently) Jobing.com Arena and the city would be debt-free and away from any arena fees.
Ouotgoing councilman Phil Lieberman wanted to table the vote for two weeks, but was turned down by the 4-vote majority.
NHL Commissioner Gary Bettman was part of the process and said: "If we're moving forward together, we will be in a position to discuss deferring at least a portion of what we are owed." But he also wanted to know what was more important to the city and whether they (Glendale) was interested in keeping the team during his time at Q-and-A.
When Jamison was asked who his partners are in the venture, he declined to name any. This jibes with the recent coverage from Forbes' Mike Ozanian that JEG is having problems getting partners.
Here's coverage from 12News and Ed Tribble...
Expect blowback from the Goldwater Institute- and how... the City of Glendale is also in the process of cutting 49 jobs because of budget shortfalls. The HQ is aware how that will sit with the voting base...
Christine Lacroix was in Glendale for 3TV...
((HT: Azfamily.com))
Here's the latest word from Goldwater and Darcy Olsen from Friday afternoon...
This morning, Judge Cooper denied the Goldwater Institute’s motion for a temporary restraining order on the grounds that she felt the court lacked the authority to block the vote. Simultaneously, she issued a strong warning to the City of Glendale about the implications of moving forward today, affirming the Goldwater Institute’s contention that the city has committed “clear violations” both of court orders and open meeting laws.
She emphasized the court would be receptive to considering holding the city in contempt if the council moves forward with the vote, stating that sanctions would be in order. We hope the council will heed the judge’s warning, comply with the law, and give the public sufficient time to review the council’s proposed action.
But look for the Goldwater Institute to jump in...
Soon...
Here's the initial analysis from our friends at ABC15
The council ratified the 20-year, nearly $325 million agreement after a sometimes-contentious six-hour meeting attended by Greg Jamison, NHL Commissioner Gary Bettman and Deputy Commissioner Bill Daly.
Outgoing mayor Elaine Scruggs admitted in a minority opinion: "We just cannot afford this." The city rules require the rainy day fund have the equivalent of 10-percent of projected revenues. It doesn't...
The $17-million that is supposed to go to Jamison for next season, in part, is coming from a contribution in a city sales tax hike. Within five years, Jamison has option to buy (what is currently) Jobing.com Arena and the city would be debt-free and away from any arena fees.
Ouotgoing councilman Phil Lieberman wanted to table the vote for two weeks, but was turned down by the 4-vote majority.
NHL Commissioner Gary Bettman was part of the process and said: "If we're moving forward together, we will be in a position to discuss deferring at least a portion of what we are owed." But he also wanted to know what was more important to the city and whether they (Glendale) was interested in keeping the team during his time at Q-and-A.
When Jamison was asked who his partners are in the venture, he declined to name any. This jibes with the recent coverage from Forbes' Mike Ozanian that JEG is having problems getting partners.
Here's coverage from 12News and Ed Tribble...
Expect blowback from the Goldwater Institute- and how... the City of Glendale is also in the process of cutting 49 jobs because of budget shortfalls. The HQ is aware how that will sit with the voting base...
Christine Lacroix was in Glendale for 3TV...
((HT: Azfamily.com))
Here's the latest word from Goldwater and Darcy Olsen from Friday afternoon...
This morning, Judge Cooper denied the Goldwater Institute’s motion for a temporary restraining order on the grounds that she felt the court lacked the authority to block the vote. Simultaneously, she issued a strong warning to the City of Glendale about the implications of moving forward today, affirming the Goldwater Institute’s contention that the city has committed “clear violations” both of court orders and open meeting laws.
She emphasized the court would be receptive to considering holding the city in contempt if the council moves forward with the vote, stating that sanctions would be in order. We hope the council will heed the judge’s warning, comply with the law, and give the public sufficient time to review the council’s proposed action.
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