View Full Version : City of Glendale agree to cover loses
from tsn.ca
Sources tell TSN, the NHL and the city of Glendale have reached an agreement that will ensure the city covers any operating costs up to $25 mil for the 2010-2011 season.
In the meantime, a continued search for local ownership will resume.
Sources say Glendale city officials also talked with representatives from Ice Edge Holdings on Friday, however, according to source, Ice Edge remains reluctant to engage in further discussions with the city without exclusivity.
It frustrates me to no end that Bettmen is willing to fight to the death to keep the Phoenix experiment alive, yet not even close to the same effort was made when the Jets were in trouble.
Not only that, but Bettmen was fine when Moyes was losing hundreds of millions in the desert, but now that the NHL owns the team, they need the city to cough up for loses.
dso67
05-23-2010, 02:34 PM
From what i have heard, this is basically the LAST ditch effort for a team to stay in Glendale. Let's be real here, not one local group has come forward to make an offer to keep the team in the desert. Both Ice Edge and Reinsdorf have shotty offers at best and both are contingent on moving the team if it falters, which it will. Ice Edge doesn't even have valid proof of their capital and have to borrow from banks, (not an ideal ownership group for a financial wreck of a team) and Reinsdorf more than likely just wants to move them to illinois.
On the Winnipeg side of things, you have a great ownership group in Mark Chipman and true north entertainment. Chipman has been extremely professional while dealing with the NHL on this issue. He's been patient and done things the right way (balsillie) and has put himself in the position of being right there when the yotes fall. Then theres the fact that not only would winnipeg have a great ownershp group running the team, they have the richest Canadian backing them. They have a fantastic facility in the MTS Centre which also is self sustaining, (concerts, local events and such) and they own the rink. Which means no cost to themselves. Everyone comments on how small the capacity is for the building, but no one knows that it can be expanded up to 3500 more seats, which means max capacity would be at 18500. More than enough for NHL 'standards'.
As for the NHL... I think Bettman has pretty much used up his 'nine lives' with the board of governers. None of the bog wants to be shelling out for someone elses mistake (bettman) and they are at wits end with the whole yotes situation. Mark my words... WHEN, not if but when the yotes move back to Peg city, Bettman's 'career' as NHL commissioner will come to an end.
This is going to happen, and I can't wait to buy my season tickets!!!
This is from the Calgary Herald today:
The city of Glendale, Ariz., is under the gun to find a buyer for the Phoenix Coyotes.
Failing that, the National Hockey League has indicated it will sell and move the team, opening the door to more speculation that Winnipeg is back in the running -- according to a media report.
The Globe and Mail reported Saturday that Glendale will have until Dec. 31 to uncover a buyer for the troubled franchise.
Speculation points toward Canadian billionaire David Thomson and Mark Chipman, CEO of True North Sports and Entertainment, who own and operate Winnipeg's MTS Centre, as the buyer.
Read more: http://www.calgaryherald.com/sports/Winnipeg+running+again+Coyotes/3062712/story.html#ixzz0on4mU7Mg
Also, is Bettmen's contract not up this summer or is it next?
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