Post by bosshogg18 on Mar 9, 2011 10:52:21 GMT -5
I guess after all of this, this deal still doesn't make any sense to me...maybe most of you feel the same way.
So let me get this straight, the City of Glendale wants to give Matthew Hulsizer $100 million, of which comes from the sale of bonds in order for him to buy the Coyotes for $170 million?
Why would they even consider this? If this does go through and Hulsizer sells the team in a few years, does he get all of the sale price, or does he get the sales price minus $100 million to pay back the city?
If Glendale is so desperate to keep the team, why doesn't the city buy the team itself? At least that way it would be theirs and wouldn't be gifting money to some millionaire, although rich, obviously isn't rich enough to own a team. More on that in a minute. They could also sell stock in the team, similar to what the Green Bay Packers have done in the past, this way many locals could own a piece of the team. Although the Coyotes aren't the Packers.
Either Hulsizer is not rich enough to own an NHL team and should not be considered, or he is just really smart, not wanting to take the risks, well knowing this team is a money pit in the desert. It is probably a little of both.
The league is making a deal with the devil. If it turns out Hulsizer does not have enough money to support this team...then what? Are they going to hemorrhage more money from the city, the NHL, the state, etc? This team is losing millions in the double digits annually. Even someone with millions can only do this for so long, then the team is back to where it was, except now Glendale is in the hole for millions in the triple digits. They are just delaying the inevitable.
I know 99.935% of you want the team back in Winnipeg, including myself, but if you have more insight on why this deal would make sense to anyone who wants the team to stay please let me know. This whole thing to me seems like fixing a broken pipe with bubble gum...it may work for a few minutes, but is going to ultimately and surely bust loose shortly.
So let me get this straight, the City of Glendale wants to give Matthew Hulsizer $100 million, of which comes from the sale of bonds in order for him to buy the Coyotes for $170 million?
Why would they even consider this? If this does go through and Hulsizer sells the team in a few years, does he get all of the sale price, or does he get the sales price minus $100 million to pay back the city?
If Glendale is so desperate to keep the team, why doesn't the city buy the team itself? At least that way it would be theirs and wouldn't be gifting money to some millionaire, although rich, obviously isn't rich enough to own a team. More on that in a minute. They could also sell stock in the team, similar to what the Green Bay Packers have done in the past, this way many locals could own a piece of the team. Although the Coyotes aren't the Packers.
Either Hulsizer is not rich enough to own an NHL team and should not be considered, or he is just really smart, not wanting to take the risks, well knowing this team is a money pit in the desert. It is probably a little of both.
The league is making a deal with the devil. If it turns out Hulsizer does not have enough money to support this team...then what? Are they going to hemorrhage more money from the city, the NHL, the state, etc? This team is losing millions in the double digits annually. Even someone with millions can only do this for so long, then the team is back to where it was, except now Glendale is in the hole for millions in the triple digits. They are just delaying the inevitable.
I know 99.935% of you want the team back in Winnipeg, including myself, but if you have more insight on why this deal would make sense to anyone who wants the team to stay please let me know. This whole thing to me seems like fixing a broken pipe with bubble gum...it may work for a few minutes, but is going to ultimately and surely bust loose shortly.