anything can happen....i don't believe GWI's case is 100% slam dunk because the subsidies were tailored to try to get around the gift clause by making it appear like COG got something valuable in return...yes its a sham but it might -- I said MIGHT -- make it past a judge...nothing is guaranteed...the NHL has decided to "test" this case I guess if bonds sold (likely to someone connected to BOG or NHL)...it ain't over until it's over...
Unless the Judge is a hockey fanatic and wants to pay more TAXES to support the Coyotes for the rest of his/her life - he/she will grant the injunction - this deal is so forked it's unreal.
I don't know what is going to happen with this forking franchise - and really don't forking care at this point.
But I see the bond deal being as successful as my quest to to win Lotto Max. (i.e. slim and none - and "slim" just left town)
Fork the Count and fork COG and fork Hultzi. And that's all I have to say about that...
Yeah.... End of the day this deal is bunk.... these team won't be in Phoenix by this deal.
The only way this team stays in Phoenix is by a different deal.... the only question now is, is time REALLY running out? Or is the NHL going to stick around long enough to come up with a different solution.
I still think the NHL is pretty much done, and this is all just a show.
Last Edit: Mar 20, 2011 16:06:34 GMT -5 by inkymarx
As I mentioned last night, there is no guarantee Goldwater will file for an injunction.
But protecting the taxpayers is the main goal of GWI not killing the Coyotes. GWI wants to ensure that that $100 million never reaches Hulsizer. Therefore, an injunction is the only way to do so. A court case only fights the situation after the cash is already transfered. And it costs moeny to fight a court battle so the GWI would rather save every dollar but it will proceed if the whole lot of cash is threatened in their mind.
True, but then why not seek an injunction before the bonds get sold?
Even Goldwater has admitted this was possible.
Unless the NHL wants to risk further losses (even if Glendale offers up another $25 million as "insurance" for the 2011/12 season), a court battle offers more cost to the NHL BOG and if they were to lose sets a bad precendence for pros psorts teams across North America. Soon other right of center areas/states may strongly consider their own version of a gift clause. Thus, walking away now when you can can lose the battle to win the war, so to speak.
What worries me about this is if the NHL decides to take a stand on this issue. We all know they don't like to be told they can't do something.
Glendale's bond may approach "junk bond" status with their high level of debt for a town their size. The bond agencies said so when the bonds were being evaluated by the investment community. GWI has latched onto this and is using this very real fear to their advantage. Remember these bonds are only as good as the parking revenue firstly and the city's ability to generate taxes to be able to support. With so much economic regression in the area, houses are still being foreclosed at a speedy rate, you have to wonder if theri willbe money left for things like bond issues when so many core services are being axed.
I agree it's crazy, but if people want to buy the bonds, and some say there are people that do, what can you do?
We in Canada and especially those in "steady as she goes" Manitoba don't really see how bad things are.
I passed on an opportunity to buy one of three $1.2 million homes in Mesa, Az a few months ago. Over 3,000 square feet of executive-style comfort with large pools (yes I said multiple pools!). The sale price? $186,000, $199,000 and $206,000. Why did I pass? Because I wondered how many years it would take to be able to make a dollar from it.
At those prices, I'd seriously consider moving there if I wasn't physically disabled.
All of these are possibilities when you realize that the NHL will pretty much stop at nothing to keep the team in Glendale. We will soon find out.
Again considering the times in the area, do you really think hockey will sell there? It didn't in flush economic times, so why would it now? So you are right the NHL may try another half dozen schemes to keep the team there and for another season but this is the reality of the area: depression!
I personally do not think hockey will sell in the short to medium term. But I have given up trying to figure out the NHL.
Last Edit: Mar 20, 2011 16:22:39 GMT -5 by DKehler
Someone suggested this in another thread, why buy these Bonds when you can directly invest in the team?...profits over risk?
The only difference there is with the bonds you have an "asset" that at worst, gets vetoed and you get you money back, best case you are guaranteed a decent return. With the team about the only guarantee you have is that you are gonna lose a shitpile of money every year until you find some other poor bastard with more money than brains to buy it from you.
Everything is lies at this point from everyone. The deal is done already to move a team back to Manitoba and they are just trying to keep as many fans in the stands as they can... at least I keep telling myself this.
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