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...
Showing posts with label Greg Jamison. Show all posts
Showing posts with label Greg Jamison. Show all posts
Wednesday, March 27, 2013
Friday, February 1, 2013
Jamison Misses Coyotes Deadline... World Continues Rotating As Planned...
((HT: Azcentral/KPNX-TV))
So... Greg Jamison missed his deadline to secure and/or announce his partners (his deep-pocketed partners) to purchase the Phoenix Coyotes from the National Hockey League. Along with that went the subsidies approved by the old City of Glendale government which would have given Jamison US$300-million to keep the team at City Center for the next 20 years- or until he would become unhappy with the contract as it would have been drawn up.
NHL Deputy Commissioner Bill Daly sent out the following statement after last night's deadline came and went: “We remain hopeful the Coyotes sale process will be resolved successfully and we will continue to work with the city of Glendale to move the process forward.”
The city released a statement saying the sides will work to reach a new agreement that is in the best interests of the city and its residents.
Here's new Glendale Mayor Jerry Weiers sounding no alarm whatsoever...
Jamison has every intention of pursuing the team even with the passed deadline. The team itself came up with the following paragraph Friday: The Coyotes issued this statement: "Today, we were informed by the National Hockey League that Mr. Jamison was unable to close on his purchase of the Coyotes. Mr. Jamison will continue to work with the NHL and the City of Glendale to close a deal that will keep the Coyotes in the Valley. Although there is no set timetable, hopefully it will be soon. The Coyotes will continue to be owned by the NHL and nothing changes for our organization. We will work hard on and off the ice to provide our fans with a winning team that they can be proud of. We would like to thank all of our great fans and corporate partners for their incredible patience and loyalty throughout this process. We know it's been difficult and we appreciate their support." So, who knew Jamison as going to miss the deadline...??? Pretty much anyone paying attention... including a place like Markham, Ontario ((HT: ABC15))
So... Greg Jamison missed his deadline to secure and/or announce his partners (his deep-pocketed partners) to purchase the Phoenix Coyotes from the National Hockey League. Along with that went the subsidies approved by the old City of Glendale government which would have given Jamison US$300-million to keep the team at City Center for the next 20 years- or until he would become unhappy with the contract as it would have been drawn up.
NHL Deputy Commissioner Bill Daly sent out the following statement after last night's deadline came and went: “We remain hopeful the Coyotes sale process will be resolved successfully and we will continue to work with the city of Glendale to move the process forward.”
The city released a statement saying the sides will work to reach a new agreement that is in the best interests of the city and its residents.
Here's new Glendale Mayor Jerry Weiers sounding no alarm whatsoever...
Jamison has every intention of pursuing the team even with the passed deadline. The team itself came up with the following paragraph Friday: The Coyotes issued this statement: "Today, we were informed by the National Hockey League that Mr. Jamison was unable to close on his purchase of the Coyotes. Mr. Jamison will continue to work with the NHL and the City of Glendale to close a deal that will keep the Coyotes in the Valley. Although there is no set timetable, hopefully it will be soon. The Coyotes will continue to be owned by the NHL and nothing changes for our organization. We will work hard on and off the ice to provide our fans with a winning team that they can be proud of. We would like to thank all of our great fans and corporate partners for their incredible patience and loyalty throughout this process. We know it's been difficult and we appreciate their support." So, who knew Jamison as going to miss the deadline...??? Pretty much anyone paying attention... including a place like Markham, Ontario ((HT: ABC15))
Wednesday, November 28, 2012
What Price Fame...??? Glendale Has An Answer
$320-million over $20 years...
The Glendale (AZ) City Council, mired in budget shortfalls, public service deficiencies, and public servant shortages approved an arena deal with proposed Phoenix Coyotes suitor Greg Jamison approved the deal at a city council meeting late last night eastern time.
Jamison said he hoped to complete his purchase of the team in the next 30 to 60 days- which, of course, is something he's been saying for the last 180 days.
He is expected to pay US$170 million to the National Hockey League who has owned and operated the franchise for the last few seasons...
The agreement passed on a 4-2 vote...
Glendale's Interim City Manager Horatio Skeete said the city would need to cut $20 million within five years in part to pay the arena-management fee if the Coyotes were the anchor tenant at Jobing.com Arena. Without the team, Skeete thinks the city would need to cut about $12 million instead.
Skeete voted "no," but says keeping the Coyotes around may be in the long-term interest of the city. But it requires too many budget cuts now and would still leave the city in a financial hole in the long term.
Long-term or longer-term...???
The devil you know or the devil you don't...
Those are the questions and, now, Glendale has to live with the answer they gave in the short-term...
Good luck on that...
Here's Jamison...
((HT: azcentral.com/KPNX-TV))
The Glendale (AZ) City Council, mired in budget shortfalls, public service deficiencies, and public servant shortages approved an arena deal with proposed Phoenix Coyotes suitor Greg Jamison approved the deal at a city council meeting late last night eastern time.
Jamison said he hoped to complete his purchase of the team in the next 30 to 60 days- which, of course, is something he's been saying for the last 180 days.
He is expected to pay US$170 million to the National Hockey League who has owned and operated the franchise for the last few seasons...
The agreement passed on a 4-2 vote...
Glendale's Interim City Manager Horatio Skeete said the city would need to cut $20 million within five years in part to pay the arena-management fee if the Coyotes were the anchor tenant at Jobing.com Arena. Without the team, Skeete thinks the city would need to cut about $12 million instead.
Skeete voted "no," but says keeping the Coyotes around may be in the long-term interest of the city. But it requires too many budget cuts now and would still leave the city in a financial hole in the long term.
Long-term or longer-term...???
The devil you know or the devil you don't...
Those are the questions and, now, Glendale has to live with the answer they gave in the short-term...
Good luck on that...
Here's Jamison...
((HT: azcentral.com/KPNX-TV))
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...
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.
Thursday, June 7, 2012
Goldwater Surfaces In Jamison Discussions (UPDATED: Goldwater Seeks Court Order)
The HQ knew it was a matter of time...
The Goldwater Institute has sent their warning shot across the City of Glendale's collective bow in the Greg Jamison/Jamison Entertainment Group purchase of the Phoenix Coyotes...
They have more questions than warnings at present (especially having to do with the lack of Indian nation involvement, possible violations of the Gift Clause, parking values, and putting everything up to a referendum vote) and finish up with the following paragraph...
We hope that these inquiries will assist the Council in its deliberations over the proposed deal. We further urge you to not to rush to a vote. The terms of the 100-page proposal were released to the public for the first time on Monday, and not all the exhibits and associated documents have been released yet. There should be an adequate public comment period after all the documents have been released, particularly when they commit substantial public resources over many years.
Lisa Halverstadt and Craig Harris put out an article for the Arizona Republic today. They also came up with the notion that no other Phoenix-based franchise gets any kind of subsidy like the Coyotes would get if Jamison takes over.
"We believe the average of $15 million over the course of the term is a fair price," Glendale spokeswoman Julie Frisoni said.
ABC15's Eric English covers the idea of the sales tax increase...
Councilwoman Joyce Clark posted an op-ed piece in the Republic trying to justify her anticipated "yes" vote:
Allowing the team to leave will hurt Glendale financially. The debt on arena bond construction and its operating and management costs still must be paid. The Coyotes pay monthly rent. A surcharge on every arena event ticket sold goes to Glendale. The team generates revenue for 42 games and more when there are playoff games. Hotels and restaurants are full. If the team leaves, there will be fewer nights when Westgate will produce substantial revenue for the city.
Although, the HQ doesn't see her logic, we'll let her say her peace here...
Phoenix Business Journal reporter Mike Sunnucks sits down for AZPBS to discuss the situation...
2210 UPDATE: Cecilia Chan reports from the Republic that Goldwater is going to seek a court order at 8:30AM Friday to prevent the Glendale City Council from voting on the Jamison deal.
The Glendale vote is scheduled for two hours later...
Not a shock...
The statement from Goldwater President Darcy Olsen:
Tomorrow morning the City of Glendale plans to consider what is estimated to be a $425 million arena management deal for Jobing.com Arena. Arizona’s Open Meetings Law and multiple court orders require the city to make public all documents related to the proposed contract at least 24 hours before a Council vote is taken, which it has not done. The 100-page deal released on Monday refers to a number of exhibits that are central to analyzing the impact of the deal on Glendale’s finances, which the city must make public. Per respecting Open Meetings Law requirements, the Goldwater Institute will be requesting a temporary restraining order to prevent the Glendale City Council from voting on the contract Friday morning.
Glendale city attorney Craig Tindall told the Republic's Lisa Halverstadt that their deadline for a deal was supposed to be five days after the last Coyotes game (May 22), but the team got a 30-day extension...
The Goldwater Institute has sent their warning shot across the City of Glendale's collective bow in the Greg Jamison/Jamison Entertainment Group purchase of the Phoenix Coyotes...
They have more questions than warnings at present (especially having to do with the lack of Indian nation involvement, possible violations of the Gift Clause, parking values, and putting everything up to a referendum vote) and finish up with the following paragraph...
We hope that these inquiries will assist the Council in its deliberations over the proposed deal. We further urge you to not to rush to a vote. The terms of the 100-page proposal were released to the public for the first time on Monday, and not all the exhibits and associated documents have been released yet. There should be an adequate public comment period after all the documents have been released, particularly when they commit substantial public resources over many years.
Lisa Halverstadt and Craig Harris put out an article for the Arizona Republic today. They also came up with the notion that no other Phoenix-based franchise gets any kind of subsidy like the Coyotes would get if Jamison takes over.
"We believe the average of $15 million over the course of the term is a fair price," Glendale spokeswoman Julie Frisoni said.
ABC15's Eric English covers the idea of the sales tax increase...
Councilwoman Joyce Clark posted an op-ed piece in the Republic trying to justify her anticipated "yes" vote:
Allowing the team to leave will hurt Glendale financially. The debt on arena bond construction and its operating and management costs still must be paid. The Coyotes pay monthly rent. A surcharge on every arena event ticket sold goes to Glendale. The team generates revenue for 42 games and more when there are playoff games. Hotels and restaurants are full. If the team leaves, there will be fewer nights when Westgate will produce substantial revenue for the city.
Although, the HQ doesn't see her logic, we'll let her say her peace here...
Phoenix Business Journal reporter Mike Sunnucks sits down for AZPBS to discuss the situation...
2210 UPDATE: Cecilia Chan reports from the Republic that Goldwater is going to seek a court order at 8:30AM Friday to prevent the Glendale City Council from voting on the Jamison deal.
The Glendale vote is scheduled for two hours later...
Not a shock...
The statement from Goldwater President Darcy Olsen:
Tomorrow morning the City of Glendale plans to consider what is estimated to be a $425 million arena management deal for Jobing.com Arena. Arizona’s Open Meetings Law and multiple court orders require the city to make public all documents related to the proposed contract at least 24 hours before a Council vote is taken, which it has not done. The 100-page deal released on Monday refers to a number of exhibits that are central to analyzing the impact of the deal on Glendale’s finances, which the city must make public. Per respecting Open Meetings Law requirements, the Goldwater Institute will be requesting a temporary restraining order to prevent the Glendale City Council from voting on the contract Friday morning.
Glendale city attorney Craig Tindall told the Republic's Lisa Halverstadt that their deadline for a deal was supposed to be five days after the last Coyotes game (May 22), but the team got a 30-day extension...
Wednesday, June 6, 2012
Greg Jamison Better Not Agree With This In Glendale... Part 2 In A Series... (UPDATED w/Jamison Problems)
Lisa Halverstadt and Cecilia Chan filed another piece today in the Arizona Republic that says the HQ's initial analysis is pretty close to right...
A Republic analysis revealed that even if the Coyotes went to the Stanley Cup Finals for the next 20 seasons and the arena booked 30 sold-out concerts each year for the next 20 years, Glendale could still expect to lose about $9 million annually.
That figure does not include the city's annual arena debt payments, which will average about $12.6 million a year over the next 20 years.
Longtime Glendale Mayor Elaine Scruggs, who has said next year's budgeted $17 million arena management fee is too steep, said Monday she cannot support the deal.
Scruggs is also concerned that capital improvements won't be seen in the city (which has its ghost-town moments both commercially and residentially these days) for, at least, five years as Glendale itself is seeing its budget for the same thing decrease.
And this deal with Jamison would grant him something over the city's own needs...
Really...???
Another issue... TL Hocking and Associates...
Thomas L. Hocking is a former investment banker who knows his way around the idea of municipal bond financing. Hocking formed "TL Hocking and Associates, LLC" and partnered with Global Entertainment Corporation to promote the development of mid-sized event centers and arenas including one in Prescott, Arizona- home of the Central Hockey League's Arizona Sundogs in the 2000's. The Sundogs and the CHL are owned by Boston Pizza magnate James Treliving.
Treliving has been linked to the Coyotes sale, but has denied any involvement in a purchase- despite being linked by Canadian talk show host Bob McCown
As told by OSG hyah in May and hyah in April...
According to Halverstadt and Chan, Glendale Deputy City Manager Jim Colson said an analysis by TL Hocking & Associates
(and paid for by the city) projected Glendale could expect to bring in an average of $15.7 million annually over a 20-year lease with Jamison and $6.5 million without the Coyotes.
From their article again...
A 2009 study the consultant completed for Glendale assumed all city sales-tax revenue the surrounding Westgate City Center and fees from the arena would halt if the team left, adding up to a $500 million loss for Glendale over 30 years.
But the team is losing ten million more than that by being around... and the city is still pouring more money over the idea that the Coyotes are the savior...
The problem... can Hocking be trusted since they were a party in a lawsuit brought forth against the city of Prescott
in September of 2009 by Wells Fargo...? Fargo felt they were duped by an artificial rating of bonds used to build the Prescott Events Center.
In an 83-page brief filed in Arizona State Superior Court, Wells Fargo was looking to take all defendants to court because of what they called...
"...the negligent offering and sale of $35 million in face value of what were misrepresented to be “A-” rated, investment grade excise tax revenue bonds (“Bonds”) used to finance construction of a 5,000 seat event center in Prescott Valley, Arizona (the “Event Center”)."
((The Events Center is on the right, thanks timtoyotacenter.com))
Wells Fargo was also looking to claim sales taxes in the neighborhood of $1.2-million that were failed to be paid to them as a bonds Trustee by October 1, 2007. Wells Fargo claimed that certain information wasn't disclosed to them by a combination of the defendants saying that there was no way that the Prescott Events Center would ever generate the income it was claimed it would...
Retail Bondholders, reasonably believing that they were buying investment grade securities, purchased the Bonds in reliance upon recommendations from their brokers in many cases employed by the Defendant underwriters and/or upon review of the prospectus called a “Preliminary Official Statement”
Revenue was supposed to come from sales taxes from in and around the area of the Events Center that even included what was referred to as an "Entertainment District" adjacent to the Events Center and something called a "Secondary Credit Support Area"- which could be considered businesses not in the "Entertainment District," but close enough to be part of any revenue stream.
The HQ would like to ask if this is sounding the least bit familiar in the Glendale situation at present...
The feasibility studies, according to Wells Fargo's suit, had padded numbers for events in the venue- and the number hasn't been reached to date. Padded numbers for events led to padded numbers for return on the bonds and that would, eventually mean Prescott would not meet its financial obligations.
One of the 17 defendants, Global Entertainment Corporation, was referred to in the lawsuit as being operated by its directors- which included Treliving...
"General Allegations" in the suit included the following...
36. Global is a holding company established in April 2000 through a
reverse merger with the Western Professional Hockey League, Inc. In June 2001
Global negotiated a Joint Operating Agreement with the Central Hockey League
(“CHL”) and fielded sixteen teams using the CHL name. In November 2002
Global acquired International Coliseums Company (“ICC”) which was in the
business of designing, managing and operating multi-purpose event centers.
According to Global (Official Statements p. 27), this vertical integration provided
Global with, “the expertise to develop, design, build and manage multi-purpose
event centers.” Global also arranges the financing of event centers. At all times
pertinent to this Complaint, Global was directly and indirectly controlled by its
officers and directors, including Treliving and (Richard) Kozuback.
37. Global and Hocking seek to persuade communities that are not large
enough to attract major league professional sports franchises to build event centers
that will be anchored by a CHL hockey team or other minor league sports teams.
Global offers to develop, arrange financing, build and operate the event center.
38. Revenues from event centers are derived from the annual number of
events and the number of people who pay to attend those events. Net operating
revenues from event centers are a function of project revenues less operating
expenses. The amount of attendance at events depends primarily on the population
and number of households in the market area for the event center and disposable
income. The annual number of events an event center can attract also depends
upon the population and number of households in the market area. The amount of
sales tax revenues generated by an event center and surrounding businesses is also
dependent upon the population and number of households in the market area. The
economic feasibility of an event center that uses both operating revenues and sales
tax revenues to service the debt incurred building the event center is highly
dependent upon the surrounding population and the level of disposable income.
Once again, we'll assert that through Section 37 of the Wells Fargo suit that the Prescott situation is virtually the same as the Glendale situation- only possibly larger in scope if followed through since Hocking was directly involved in the Glendale appraisals.
Because the town of Prescott defaulted, in Wells Fargo's view, on two occasions in paying on the Events Center (delivering tax revenues and interest payments on schedule), they had no recourse but to file the lawsuit.
Fargo asserted that the defendants (including TL Hocking and Treliving) were party in artificially inflating the numbers in feasibility studies released in 2005 that reflected a (seemingly) magical 50-percent increase in activity to justify a $35-million bond to build the Events Center. A third-party was brought in to back up the appraisals and was, subsequently, not renewed when their numbers didn't mesh with the defendants supposed needs.
Leading to Section 109 of the Wells Fargo suit:
109. Global, Hocking, the Town, PVEC, PVSE and Fain Group had actual
knowledge that Global had substantially and wrongfully inflated the revenue, event
and attendance figures in the Official Statements over the projections contained in
the 2001 Feasibility Report and the 2005 Preliminary Feasibility Report because
they each received and reviewed the 2001 Feasibility Report and the 2005
Preliminary Feasibility Report.
The end claim by Wells Fargo was that the underwriters and the Events Center Authority, all acted negligently by issuing the bonds. They were also negligent since they "DRAFTED OR APPROVED DEFECTIVE BOND DOCUMENTS GIVING THE TOWN THE ABILITY
TO EVADE THE PAYMENT OF SALES TAX REVENUES." (ed. note- capitalization from header in the lawsuit wording)
Wells Fargo asserted in the suit that all defendants were in violation of the Arizona State Securities Act, were negligently misrepresented in this case, and claimed that the town of Prescott was in breach of contract.
And, if that doesn't set, another plaintiff- Allstate Life insurance Company- spun off to chase after the defendants themselves as part of a class action suit.
The second amended case was filed in 2010 in District Court in Arizona...
We're still looking for a resolution in either case...
These days, if you try and access Global Entertainment's website, you don't get anything but a dead link while the Sundogs were dead last in the CHL's Western Division.
Attendance figures have been the following since their entry into the CHL:
2006/07- 8th at 4,225 per game average
2007/08- 6th at 4,310
2008/09- 9th at 3,521
2009/10- 13th at 2,689
2010/11- 16th at 2,150
2011/12- 10th at 2,507
NB: Those are the attendance figures released by the league, so accept them as you wish...
The best we can figure, the HQ would like to equate all of this activity in the last three years to that of the duck and its walking and quacking- from Prescott all the way down Interstate-17 to Glendale...
If Greg Jamison is looking for a boondoggle or a massive tax write-off, he should take the deal with the City of Glendale. If he's a smart businessman, he runs away from the deal. It looks like there are too many shady folks out there looking for another run...
If the Goldwater Institute is watching, all of this may not get that far...
More when we know more...
Here's the video from FSArizona when the Sundogs hosted the CHL All-Star Game this season...
1600 UPDATE: According to a report from Forbes Magazine's Mike Ozanian, Jamison is having issues raising the $170-million.
Investors are coming to their senses and are having issues believing that the team could be profitable. Forbes gave the value of the Coyotes at US$134-million...
A Republic analysis revealed that even if the Coyotes went to the Stanley Cup Finals for the next 20 seasons and the arena booked 30 sold-out concerts each year for the next 20 years, Glendale could still expect to lose about $9 million annually.
That figure does not include the city's annual arena debt payments, which will average about $12.6 million a year over the next 20 years.
Longtime Glendale Mayor Elaine Scruggs, who has said next year's budgeted $17 million arena management fee is too steep, said Monday she cannot support the deal.
Scruggs is also concerned that capital improvements won't be seen in the city (which has its ghost-town moments both commercially and residentially these days) for, at least, five years as Glendale itself is seeing its budget for the same thing decrease.
And this deal with Jamison would grant him something over the city's own needs...
Really...???
Another issue... TL Hocking and Associates...
Thomas L. Hocking is a former investment banker who knows his way around the idea of municipal bond financing. Hocking formed "TL Hocking and Associates, LLC" and partnered with Global Entertainment Corporation to promote the development of mid-sized event centers and arenas including one in Prescott, Arizona- home of the Central Hockey League's Arizona Sundogs in the 2000's. The Sundogs and the CHL are owned by Boston Pizza magnate James Treliving.
Treliving has been linked to the Coyotes sale, but has denied any involvement in a purchase- despite being linked by Canadian talk show host Bob McCown
As told by OSG hyah in May and hyah in April...
According to Halverstadt and Chan, Glendale Deputy City Manager Jim Colson said an analysis by TL Hocking & Associates
(and paid for by the city) projected Glendale could expect to bring in an average of $15.7 million annually over a 20-year lease with Jamison and $6.5 million without the Coyotes.From their article again...
A 2009 study the consultant completed for Glendale assumed all city sales-tax revenue the surrounding Westgate City Center and fees from the arena would halt if the team left, adding up to a $500 million loss for Glendale over 30 years.
But the team is losing ten million more than that by being around... and the city is still pouring more money over the idea that the Coyotes are the savior...
The problem... can Hocking be trusted since they were a party in a lawsuit brought forth against the city of Prescott
in September of 2009 by Wells Fargo...? Fargo felt they were duped by an artificial rating of bonds used to build the Prescott Events Center. In an 83-page brief filed in Arizona State Superior Court, Wells Fargo was looking to take all defendants to court because of what they called...
"...the negligent offering and sale of $35 million in face value of what were misrepresented to be “A-” rated, investment grade excise tax revenue bonds (“Bonds”) used to finance construction of a 5,000 seat event center in Prescott Valley, Arizona (the “Event Center”)."
((The Events Center is on the right, thanks timtoyotacenter.com))
Wells Fargo was also looking to claim sales taxes in the neighborhood of $1.2-million that were failed to be paid to them as a bonds Trustee by October 1, 2007. Wells Fargo claimed that certain information wasn't disclosed to them by a combination of the defendants saying that there was no way that the Prescott Events Center would ever generate the income it was claimed it would...
Retail Bondholders, reasonably believing that they were buying investment grade securities, purchased the Bonds in reliance upon recommendations from their brokers in many cases employed by the Defendant underwriters and/or upon review of the prospectus called a “Preliminary Official Statement”
Revenue was supposed to come from sales taxes from in and around the area of the Events Center that even included what was referred to as an "Entertainment District" adjacent to the Events Center and something called a "Secondary Credit Support Area"- which could be considered businesses not in the "Entertainment District," but close enough to be part of any revenue stream.
The HQ would like to ask if this is sounding the least bit familiar in the Glendale situation at present...
The feasibility studies, according to Wells Fargo's suit, had padded numbers for events in the venue- and the number hasn't been reached to date. Padded numbers for events led to padded numbers for return on the bonds and that would, eventually mean Prescott would not meet its financial obligations.
One of the 17 defendants, Global Entertainment Corporation, was referred to in the lawsuit as being operated by its directors- which included Treliving...
"General Allegations" in the suit included the following...
36. Global is a holding company established in April 2000 through a
reverse merger with the Western Professional Hockey League, Inc. In June 2001
Global negotiated a Joint Operating Agreement with the Central Hockey League
(“CHL”) and fielded sixteen teams using the CHL name. In November 2002
Global acquired International Coliseums Company (“ICC”) which was in the
business of designing, managing and operating multi-purpose event centers.
According to Global (Official Statements p. 27), this vertical integration provided
Global with, “the expertise to develop, design, build and manage multi-purpose
event centers.” Global also arranges the financing of event centers. At all times
pertinent to this Complaint, Global was directly and indirectly controlled by its
officers and directors, including Treliving and (Richard) Kozuback.
37. Global and Hocking seek to persuade communities that are not large
enough to attract major league professional sports franchises to build event centers
that will be anchored by a CHL hockey team or other minor league sports teams.
Global offers to develop, arrange financing, build and operate the event center.
38. Revenues from event centers are derived from the annual number of
events and the number of people who pay to attend those events. Net operating
revenues from event centers are a function of project revenues less operating
expenses. The amount of attendance at events depends primarily on the population
and number of households in the market area for the event center and disposable
income. The annual number of events an event center can attract also depends
upon the population and number of households in the market area. The amount of
sales tax revenues generated by an event center and surrounding businesses is also
dependent upon the population and number of households in the market area. The
economic feasibility of an event center that uses both operating revenues and sales
tax revenues to service the debt incurred building the event center is highly
dependent upon the surrounding population and the level of disposable income.
Once again, we'll assert that through Section 37 of the Wells Fargo suit that the Prescott situation is virtually the same as the Glendale situation- only possibly larger in scope if followed through since Hocking was directly involved in the Glendale appraisals.
Because the town of Prescott defaulted, in Wells Fargo's view, on two occasions in paying on the Events Center (delivering tax revenues and interest payments on schedule), they had no recourse but to file the lawsuit.
Fargo asserted that the defendants (including TL Hocking and Treliving) were party in artificially inflating the numbers in feasibility studies released in 2005 that reflected a (seemingly) magical 50-percent increase in activity to justify a $35-million bond to build the Events Center. A third-party was brought in to back up the appraisals and was, subsequently, not renewed when their numbers didn't mesh with the defendants supposed needs.
Leading to Section 109 of the Wells Fargo suit:
109. Global, Hocking, the Town, PVEC, PVSE and Fain Group had actual
knowledge that Global had substantially and wrongfully inflated the revenue, event
and attendance figures in the Official Statements over the projections contained in
the 2001 Feasibility Report and the 2005 Preliminary Feasibility Report because
they each received and reviewed the 2001 Feasibility Report and the 2005
Preliminary Feasibility Report.
The end claim by Wells Fargo was that the underwriters and the Events Center Authority, all acted negligently by issuing the bonds. They were also negligent since they "DRAFTED OR APPROVED DEFECTIVE BOND DOCUMENTS GIVING THE TOWN THE ABILITY
TO EVADE THE PAYMENT OF SALES TAX REVENUES." (ed. note- capitalization from header in the lawsuit wording)
Wells Fargo asserted in the suit that all defendants were in violation of the Arizona State Securities Act, were negligently misrepresented in this case, and claimed that the town of Prescott was in breach of contract.
And, if that doesn't set, another plaintiff- Allstate Life insurance Company- spun off to chase after the defendants themselves as part of a class action suit.
The second amended case was filed in 2010 in District Court in Arizona...
We're still looking for a resolution in either case...
These days, if you try and access Global Entertainment's website, you don't get anything but a dead link while the Sundogs were dead last in the CHL's Western Division.
Attendance figures have been the following since their entry into the CHL:
2006/07- 8th at 4,225 per game average
2007/08- 6th at 4,310
2008/09- 9th at 3,521
2009/10- 13th at 2,689
2010/11- 16th at 2,150
2011/12- 10th at 2,507
NB: Those are the attendance figures released by the league, so accept them as you wish...
The best we can figure, the HQ would like to equate all of this activity in the last three years to that of the duck and its walking and quacking- from Prescott all the way down Interstate-17 to Glendale...
If Greg Jamison is looking for a boondoggle or a massive tax write-off, he should take the deal with the City of Glendale. If he's a smart businessman, he runs away from the deal. It looks like there are too many shady folks out there looking for another run...
If the Goldwater Institute is watching, all of this may not get that far...
More when we know more...
Here's the video from FSArizona when the Sundogs hosted the CHL All-Star Game this season...
1600 UPDATE: According to a report from Forbes Magazine's Mike Ozanian, Jamison is having issues raising the $170-million.
Investors are coming to their senses and are having issues believing that the team could be profitable. Forbes gave the value of the Coyotes at US$134-million...
Monday, June 4, 2012
Can Greg Jamison Really Agree To This In Glendale...??? (UPDATED)
((HT: AZCentral.com/Lisa Halverstadt))
Or, to be more honest, can anyone really agree to this...??? Especially in advance of the public update Thursday at the Glendale City Council meeting...
The City of Glendale has released its terms for negotiation with Greg Jamison, JEG, and the rest of the world in the short term...
Here's the Arena lease/management part of it...
And here's the "non-competition/non-relocation" part of it...
The city agreement would have Glendale pay roughly $300 million in arena management fees to Jamison and another $24 million in capital funding (presumably for improvements) over the 20-years of any proposed deal. But, and this is a big BUT, Jamison (or whomever) would get $94-million in the first five years of the lease...
Really...???
Glendale thinks they're going to receive upwards of eight figures of revenue from rent and ticket surcharges. What the city doesn't quite realize is that attendance figures won't mesh enough for those kinds of revenue...
The Arizona (ha!) Coyotes (another part of the deal) were last in home attendance averaging almost 800 fans less than the next-to-last place NY Islanders and only had 72.5-percent capacity...
Fans could get Western Conference Semi-Finals tickets for $45 a piece for games in Glendale a day before the game against the LA Kings...
No relocation for the entire term of the lease agreement, either...???
Seriously...
This will fly...???
David Shoalts (@dshoalts) over at the Globe and Mail doubts it...
As does the HQ...
To recap, here's Jamison's appearance in Phoenix to discuss a while back...
((HT: MyGlendale11))
More when we know more...
Or, to be more honest, can anyone really agree to this...??? Especially in advance of the public update Thursday at the Glendale City Council meeting...
The City of Glendale has released its terms for negotiation with Greg Jamison, JEG, and the rest of the world in the short term...
Here's the Arena lease/management part of it...
And here's the "non-competition/non-relocation" part of it...
The city agreement would have Glendale pay roughly $300 million in arena management fees to Jamison and another $24 million in capital funding (presumably for improvements) over the 20-years of any proposed deal. But, and this is a big BUT, Jamison (or whomever) would get $94-million in the first five years of the lease...
Really...???
Glendale thinks they're going to receive upwards of eight figures of revenue from rent and ticket surcharges. What the city doesn't quite realize is that attendance figures won't mesh enough for those kinds of revenue...
The Arizona (ha!) Coyotes (another part of the deal) were last in home attendance averaging almost 800 fans less than the next-to-last place NY Islanders and only had 72.5-percent capacity...
Fans could get Western Conference Semi-Finals tickets for $45 a piece for games in Glendale a day before the game against the LA Kings...
No relocation for the entire term of the lease agreement, either...???
Seriously...
This will fly...???
David Shoalts (@dshoalts) over at the Globe and Mail doubts it...
As does the HQ...
To recap, here's Jamison's appearance in Phoenix to discuss a while back...
((HT: MyGlendale11))
More when we know more...
Saturday, June 2, 2012
Jamison Picks Up A Hockey Team After All...
But it's not the one you think...
The Western States Hockey League has announced that its Board of Governors has approved the application for ownership of the expansion Bay Area Seals Hockey Club to JAMISON ENTERTAINMENT GROUP (JEG).
From the league itself...
JEG’s vision for the Bay Area Seals is clear & present; to ‘present a true Junior A opportunity for many talented Bay Area / Nor Cal hockey players who, after aging out of Youth hockey at 18, were denied advancement opportunities in the past.’
“The WSHL has been looking for the right ownership to represent us in the Bay Area and, in Chris Collins and Greg Jamison, we believe that we have that ownership team which will make for another very good partner in the WSHL,” explained President/Commissioner of the WSHL, Ron White. “As important, though, is the benefit their efforts will bring to the Nor Cal youth players looking to play college hockey.”
The WSHL is going to enter its 19th season next year with 22 franchises, both new and old...
Apparently, the Idaho Junior Steelheads won the 2011-2012 WSHL title against the Dallas franchise in El Paso, Texas. But the Jr. Steelheads actually had a big win streak at one point of the season...
((HT: KBOI-TV Boise))
The Western States Hockey League has announced that its Board of Governors has approved the application for ownership of the expansion Bay Area Seals Hockey Club to JAMISON ENTERTAINMENT GROUP (JEG).
From the league itself...
JEG’s vision for the Bay Area Seals is clear & present; to ‘present a true Junior A opportunity for many talented Bay Area / Nor Cal hockey players who, after aging out of Youth hockey at 18, were denied advancement opportunities in the past.’
“The WSHL has been looking for the right ownership to represent us in the Bay Area and, in Chris Collins and Greg Jamison, we believe that we have that ownership team which will make for another very good partner in the WSHL,” explained President/Commissioner of the WSHL, Ron White. “As important, though, is the benefit their efforts will bring to the Nor Cal youth players looking to play college hockey.”
The WSHL is going to enter its 19th season next year with 22 franchises, both new and old...
Apparently, the Idaho Junior Steelheads won the 2011-2012 WSHL title against the Dallas franchise in El Paso, Texas. But the Jr. Steelheads actually had a big win streak at one point of the season...
((HT: KBOI-TV Boise))
Friday, June 1, 2012
Glendale forks over more money for Coyotes
((ht: azcentral.com))When is enough taxpayer money enough?
If you are the city of Glendale, Arizona, apparently the answer is never. The city's leaders mysteriously approved $15 million from their utility reserves to help pay a $25 million holding fee/bounty to the NHL for their current ownership of the Phoenix Coyotes.
Can we just say this is the most vile misuse of public money for a sports team in history?
Yeah.
Apparently the utility money has been used before and the reserve fund, which is supposed to help maintain and improve service in the city is all but broke.
And according to the AZCentral story on the subject, half the members of city council are pleading ignorance, with one saying "I didn't pay attention as to where the money was coming from.
Read more from AZCentral.com RIGHT HERE
As much as we rail on tax money for improved football stadiums, that pales in comparison to what is going on in Glendale.
Yeah, we get the team or at least the former owner went bankrupt. But that should have been his problem...not the city's.
And yet it is.
We will say the NHL and city have tried selling the team. Twice. But those deals were so heavily leveraged, there's no way they would be long-term viable. The current deal with Greg Jamison is almost the same. The city is essentially going to pay him to buy the team. And defer most of the cost.
How are they going to get the loan. Because of all this, Glendale's credit rating has gone in the crapper, so they are going to have a hard time getting a loan to pay it off.
We've been told, the city keeps trying to keep the team there because of the investment in the Jobing.com arena and alleged shopping district around it. And they are on the hook for that too.
The question is when do you just cut bait? There are plenty of gazillionaire's in Canada who'd be glad to take the team off their hands. But the Bettman (Commish Gary Bettman) and the city keep saying no. Bettman doesn't want to be proven wrong, but he's playing with other people's money here.
And the charade just keeps going on.
Monday, May 7, 2012
DEVELOPING: The Bettman Is In Glendale, Deal With Jamison...? (UPDATE: Or Not...)
((HT: ABC15.com))
There's talk that there may be a tentative deal in place between the league and former San Jose Sharks CEO Greg Jamison...
The Bettman is scheduled to hold a 6PM local time presser to discuss the topic with anyone and everyone assembled at Westgate City Center...
Here's the early returns
Lisa Halverstadt of the Arizona Republic says that Jamison has to finalize a lease agreement with the Glendale City Council and that councilman Phil Lieberman, who has not been a fan of giving any more money to fund the Coyotes, said he was called to an afternoon meeting with Jamison and Bettman.
There are still two big "but..." details in all of this...
One, according to Halverstadt, is that a four-member majority has given informal support to at least one crucial deal point with Jamison; paying as much as $20 million annually in an arena management fee to the team.
The other is Darcy Olsen and the Goldwater Institute... they're keeping an eye on any and every aspect of the would-be Jamison deal...
We can already see Olsen putting a magnifying glass up to the deal, spread on a table of her choosing, and trying to find where she can purchase one of those fine-toothed combs...
More when we know more...
2130 UPDATE: Or not...even if The Bettman announced a tentative deal... it still has to be approved by the Glendale City Council...
In what is being viewed across the board as a colossal waste of time, Greg Jamison is not unveiling the rest of his ownership group. He is also thinking that he will have an agreement with the City of Glendale in the next few weeks for them to fork over close to US$300-million over the next 20 years.
What is that Shakespeare said about sound and fury...???
Here's Bettman...
((HT: NHL))
And Jamison...
((HT: NHL))
David Shoalts article in the Globe and Mail is must-see reading on the presser and its lack of teeth...
There's talk that there may be a tentative deal in place between the league and former San Jose Sharks CEO Greg Jamison...
The Bettman is scheduled to hold a 6PM local time presser to discuss the topic with anyone and everyone assembled at Westgate City Center...
Here's the early returns
Lisa Halverstadt of the Arizona Republic says that Jamison has to finalize a lease agreement with the Glendale City Council and that councilman Phil Lieberman, who has not been a fan of giving any more money to fund the Coyotes, said he was called to an afternoon meeting with Jamison and Bettman.
There are still two big "but..." details in all of this...
One, according to Halverstadt, is that a four-member majority has given informal support to at least one crucial deal point with Jamison; paying as much as $20 million annually in an arena management fee to the team.
The other is Darcy Olsen and the Goldwater Institute... they're keeping an eye on any and every aspect of the would-be Jamison deal...
We can already see Olsen putting a magnifying glass up to the deal, spread on a table of her choosing, and trying to find where she can purchase one of those fine-toothed combs...
More when we know more...
2130 UPDATE: Or not...even if The Bettman announced a tentative deal... it still has to be approved by the Glendale City Council...
In what is being viewed across the board as a colossal waste of time, Greg Jamison is not unveiling the rest of his ownership group. He is also thinking that he will have an agreement with the City of Glendale in the next few weeks for them to fork over close to US$300-million over the next 20 years.
What is that Shakespeare said about sound and fury...???
Here's Bettman...
((HT: NHL))
And Jamison...
((HT: NHL))
David Shoalts article in the Globe and Mail is must-see reading on the presser and its lack of teeth...
Tuesday, April 10, 2012
Boston Pizza In Talks For Coyotes...???
And if that doesn't make any sense, it's because there aren't any in 28 out of the 50 states. But Boston Pizza does exist in Mexico and Canada.
According to the Twitter feed of Jim Treliving, @JTreliving, he says:
I want to be clear that I am not currently involved in any plan to buy the Coyotes and I do not have any information about their future.
Which could be true on two fronts... if he's not, he's not. And if he is, he can't say because he doesn't want to anger the National Hockey League.
Treliving is the chairman and founder of the chain and is half of T&M Holdings- which has its hands in seven other companies, one of those owns and operates the Central Hockey League.
Mike Sunnucks, over at the Phoenix Business Journal, is now saying Treliving and two other groups are in the bidding for the Phoenix Coyotes- all three would keep the team there.
The second group the HQ will mention is the (former San Jose Sharks CEO) Greg Jamison group- long thought to be the front-runner. According to Sunnucks, Jamison almost had a deal in place, but some investors dropped out and had to be replaced.
The third group is, as of yet, anonymous... which may or may not mean that it's the John Kaites- Jerry Reinsdorf group that has always been interested, but doesn't want to pay for it.
According to Lisa Halverstadt, over at the Arizona Republic, Glendale (AZ) City Manager Ed Beasley thinks one of the above bids (whether Treliving is included in the discussion or not) could be up for public discussion within the month.
Halverstadt also conducted a straw poll with the City Council before a closed-door meeting where Beasley was supposed to update everyone...
A sample:
Mayor Elaine Scruggs: "Nothing is impossible but I can only ask, why are we again in this situation where our backs are against the wall?"
Councilman Phil Lieberman: "I am not (confident) because I believe the deal that will get done will call for massive amounts of money from the city. I will not be in favor of that."
In the interim, as the HQ prepares for the best month of the year, here's what the new owners might be getting...
((HT: Azfamily.com))
According to the Twitter feed of Jim Treliving, @JTreliving, he says:
I want to be clear that I am not currently involved in any plan to buy the Coyotes and I do not have any information about their future.
Which could be true on two fronts... if he's not, he's not. And if he is, he can't say because he doesn't want to anger the National Hockey League.
Treliving is the chairman and founder of the chain and is half of T&M Holdings- which has its hands in seven other companies, one of those owns and operates the Central Hockey League.
Mike Sunnucks, over at the Phoenix Business Journal, is now saying Treliving and two other groups are in the bidding for the Phoenix Coyotes- all three would keep the team there.
The second group the HQ will mention is the (former San Jose Sharks CEO) Greg Jamison group- long thought to be the front-runner. According to Sunnucks, Jamison almost had a deal in place, but some investors dropped out and had to be replaced.
The third group is, as of yet, anonymous... which may or may not mean that it's the John Kaites- Jerry Reinsdorf group that has always been interested, but doesn't want to pay for it.
According to Lisa Halverstadt, over at the Arizona Republic, Glendale (AZ) City Manager Ed Beasley thinks one of the above bids (whether Treliving is included in the discussion or not) could be up for public discussion within the month.
Halverstadt also conducted a straw poll with the City Council before a closed-door meeting where Beasley was supposed to update everyone...
A sample:
Mayor Elaine Scruggs: "Nothing is impossible but I can only ask, why are we again in this situation where our backs are against the wall?"
Councilman Phil Lieberman: "I am not (confident) because I believe the deal that will get done will call for massive amounts of money from the city. I will not be in favor of that."
In the interim, as the HQ prepares for the best month of the year, here's what the new owners might be getting...
((HT: Azfamily.com))
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