Globe and Mail reports that NHL may be loaning money to Phoenix Coyotes

I didn't get to watch, was at work, but for some reason I think this played a HUGE role in the Coyotes staying. I don't think the city has the ability to just write the NHL a $25-million cheque right now, otherwise it wouldn't be a deadline situation for the lump sum payment or much of an issue at all.

 

Management screw up on who's part? The NHL owns the team and has been trying to sell them to anyone with a nickle to their name for the past, what 4 years? Hell, they even tried selling it someone who didn't have a nickle to his name -- Jamison.

It's a no-win situation, it's why everyone who comes near this thing is demanding big bucks out of the city to help underwrite their losses. Absolutely there is the greed aspect there, but I'm going out on a limb in assuming the team has not made a profit since moving to the desert? certainly not in the last decade. It hasn't been just one owner in place since then, there have been several, and no one could make a go of it. Location kills them and lack of a loyal fan base is the second big blow. Again, I'm sure there are some loyal, die hard fans, but not enough to get the business community excited about backing the team and not enough that are willing to fill the building 41 dates a year even at cheapo prices, whether they live in Glendale or are driving across Phoenix from Scottsdale.

 

The deal between the proposed ownership and Global Spectrum, the huge arena management company owned by Comcast, didn't hurt either. Last night, I read Jobing.com arena hosted 23 non-hockey events in the past year.

 

Which, with the way arenas are financed now, is unworkable. I'm sure Phoenix gets the concerts, so they have to find a way to creatively fill that barn for 200 days a year.

 

How many owners have the Coyotes had in the last decade?

 

In the last decade, three, including the league. It will be four if the sale to IceArizona actually closes.

I remember one of the co-owners who moved the Coyotes to Phoenix quickly sold his share of the team to his partner, and then bought a piece of the Islanders. Newspapers kept quoting Steven Gluckstern as saying he always wanted to own a hockey team. Apparently, he didn't want to own one for more than a few years.

 

CO, do you think the NHL did anything to grow the franchise?

 

Not really. Team management dd a horrible job booking non-hockey events. I haven't seem any details on the TV deal, but last I read, it was year-to-year. The uncertainty of the franchise hindered long-term sponsorship deals.

Don't think the team will ever be a big moneymaker, but do see the financial picture improving.

 

In the greater Phoenix area, you have US Airways Center (18,422), the old Veteran's Memorial Coliseum (14,800 and still open), ASU's Wells Fargo Arena (10,400), and of course for big productions the Cardinals' dome (63,000).

Where did the dingbats in Glendale think all this extra convention/concert business was going to come from?

 

The Veteran's Coliseum is decrepit and only hosts concerts during the state fair. Otherwise it's essentially closed. Virtually nothing is booked in Wells Fargo that isn't an ASU sports event. The Cardinals' dome didn't exist when the Glendale arena was built.

The only competition is the US Airways Center. Jobing.com is the nicer arena, but the location hurts.

 

The "outside events" projections of course were complete bullshit, concocted and fabricated by the arena cheerleaders to paint a rosy dream-world scenario of how the arena was going to be financially viable.

It's the same lying bullshit the arena-proponent fuckers run up the flagpole any time they're trying to get somebody to bend over to pay the freight.

 

Is US Airways Center still in need of work? Went to several Coyotes games throughout the late '90s and the noticecd a few rails in the aisles were always loose, with some stuff patched by duct tape.