Wednesday, August 1, 2012
Coyote Deal Sinking In Quick Sand?
1) That's what one insider told Fauxrumors late yesterday when rumours crept up that prospective owner Jamison was rumored to NOT have the money/financial backing to buy the team. What has to be asked at this point, Who in their right mind would buy this team?? Even it were for free, it would be a bum deal! There is NO model that has them being profitable regardless what Glendale gives in breaks/compensation. One would have to wonder what Jamison was promised by Bettman. ‘Stick it out for a year or two then move to Seattle when that arena is ready’?? Jamison has not yet disclosed who his financial partners are or how he is coming up with the money. Jamison is the former CEO of the San Jose Sharks and he quietly became co-owner of a minor league hockey team, the Bay Area Seals, in June.
2) The sports executive has experience managing and running arenas, but he needs investment money to buy the team. That has proven complicated with Jamison relying on multiple investors, and perhaps financing avenues, to try to close the deal. The ominous potential issue here is also that some of that includes international and Middle Eastern money. There have been discussions with a Saudi investment group about a stake in the Coyotes. Perhaps the Saudis' have so much cash that throwing some away in a distant desert doesn't mater to them? I would be shocked if they had any clue what NHL hockey was all about, let alone what a sink-hole the Phoenix franchise is
3) Its simply too long to still be discussing this. Its become more than a scar/joke of the NHL. Its too bad too as Don Maloney has done an admirable job assembling a decent team on the cheap and with little future to promise any Free agents to come to Arizona. I mean who would willingly go to a place. Drag their family along, only to have to uproot everyone the next season? The financial pitfalls will ALWAYS plague the franchise while it stays in Phoenix (Glendale). There is no miracle cure other than an owner who has enough money that losing a few million(or much more) doesn't mean anything. Thus far that fantasy scenario has evaded the Phoenix situation and no one should expect that the Jamison group (if there ever was/is one?) will be that money bags group to make this situation work. (Or Move!) Until then the franchise will continue to sink in financial quicksand