Friday, September 7, 2012

Sucker Born Every Minute?

1) In deference to P.T. Barnum, that statement can be also attributed to "investors" who apparently have backed the latest attempt to purchase the Phoenix Coyotes franchise. The former president and CEO of the San Jose Sharks Greg Jamison has apparently been able to set up financing that would allow him to complete the sale of the Coyotes from the NHL for $170 million. Jamison's investors include members of the Ice Edge Group, who themselves at one point attempted to purchase the team during the three-year period where the team has been under the NHL control.

2) Now, its not yet final, and we'll fully believe it when the ink is dry, but if true it either shows that folks are easily duped, have money to burn, or have been promised something that isn't/can't be announced publicly. WE have yet to read/see any Independent report that shows how the franchise in Phoenix can make money, let alone not lose upwards of 25 million annually. Its precisely why former owner Jerry Moyes declared bankruptcy and tried to sell the team to Jim Balsille 3 years ago. It was also later learned that even before that the NHL was assisting the team financially Since then the NHL has managed/owned the team (and lost money despite the city of Glendale allocating 25 million to the team)

3) It has taken nearly a year for Jamison to gather together enough "investors"(suckers?) to finally get the sale completed. By the way, if it was such a great deal, why wouldn't Jamison buy it out right? He has the dough we're told. Anyway, he apparently has arm twisted/cajoled enough to get to this point. Which begs the question(s): What was promised? I have to believe that it was told quietly that the team will 'give it a go' for a season or two. If losses continue (and there is ZERO reason to believe they won't) they will be 'forced' to relocate to a more profitable location. Most likely Seattle, KC, or more remotely Quebec City (Shane Doan would love that one, no? LOL

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