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NHL BLOG, SIX PACKS ON ICE: The Lost Coyotes

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Posted January 31, 2013 by MichelaRicci in BDB
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Show me the money!!! This is not just a line from a 90’s Tom Cruise film, but what Arizona is asking from potential Coyotes buyer Greg Jamison. This seemingly never-ending story of a Pacific Division NHL team on the brink comes to its climax today.

Let’s break down what is happening in this long and convoluted situation with the Phoenix ‘Yotes.

  • Greg Jamison, former CEO of the San Jose Sharks hockey franchise, is attempting to purchase the team from the National Hockey League at a reported price of $170 million.
  • Jamison needs to buy the team by today (1/31) to secure a 20-year deal to use and manage the city-owned Jobing.com Arena.
  • Current deal will pay Jamison an average of $15 million annually to book non-hockey events and oversee parking and maintenance at the 17,125-seat arena (guaranteeing Jamison and his ownership group about $300 million in city payments over the life of the contract).

As Pierre LeBrun of ESPN explained this week, this deadline has to do with the Glendale lease of Jobing.com Arena, not with the NHL purchasing agreement which is the common misconception.

Told you- convoluted.

There is speculation on whether the league will extend their hand any longer or further if Jamison falls through as a buyer. In this situation, the Coyotes would move to a new location, which hypothetically could be Seattle, Quebec City, or elsewhere in Canada.

Why is Jamison waiting until the deadline to sign?

It was reported that Jamison has been “unable to assemble the money and investors” to close the deal.

Or maybe it’s a publicity stunt to gain attention to the organization? (Can’t totally blame him for this one)

PuckDaddy breaks down a sympathetic look at the extensiveness with which this stink-bomb has infested Coyotes headlines:

“This saga stretches back to May 2009, when owner Jerry Moyes placed the Coyotes into bankruptcy, allowing Research In Motion co-founder Jim Balsillie to purchase the team for $212.5 million and get around the approval of the NHL to make the sale.

A court battle raged through the summer and finally saw Balsillie drop out of the bidding for the team in September after the court rejected both his bid and that of the NHL to own the team. Two months later, the NHL purchased the Coyotes for $140 million at auction.

Then came a parade of potential buyers. Ice Edge Holdings, an investor group that sought to play some Coyotes games in Canada, couldn’t close a deal. Matthew Hulsizer, a Chicago-based businessman, nearly had a deal but local politics in Glendale forced him to pull his bid. The NHL had Jerry Reinsdorf in the mix at several junctures, before Jamison stepped to the plate.

Feeling for you, Coyotes fans. This stinks.”

The organization needs stability in order to survive. Captain Shane Doan attempted to provide that on a personal level with his loyalty to the team and decided to stay in Phoenix despite the liberal salaries he was offered elsewhere. A secure foundation will provide the Coyotes with the ability recruit players to the city with more certainty behind their sales pitches. Since Phoenix is one of the nation’s 10 largest cities, boasts phenomenal weather, and is relatively inexpensive to live in, the ‘Yotes can easily sell potential free agents on the living amenities. Take a look back at all the activity happening nearby during the lockout; players from all over the country and Canada, including big names such as Sidney Crosby and Ryan Miller, were skating at Ice Den Arena in the desert of Scottsdale. Hmm…

It is imperative for so many reasons that there is positive news coming out of Phoenix today. Keep an eye out for news to develop as the moon rises, and listen for the howling.

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MichelaRicci

Just a desert native who lives and breathes ice hockey, oh the irony… Born and raised in Arizona,and been skating since she was a squirt. Michela worked on the Ice Crew for the Phoenix Coyotes and was then a Coyotes cheerleader for 3 years. After graduating Arizona State University she moved up to Boston to pursue work in sports, but has returned to Arizona. Huge Coyotes fan, loves the Bruins, and has always had a liking for the Pens. Realizing that her dream in life will never be fulfilled (because she’s not a 6’4 Canadian male who is capable of playing in NHL), so she’s searching for the next best thing.


 
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