the sting never had a chance w/ the 'yotes

Discussion in 'Arizona Sting Forum' started by dougm, Dec 13, 2008.

  1. dougm

    dougm Well-Known Member

  2. Hollywood42

    Hollywood42 Well-Known Member

    if they were even good (coyotes)
    they could put the fun in dysfunctional
  3. Rabid Camel

    Rabid Camel New Member

    Losing another $25 to $35 million this year.
    Moyes seems desparate to sell the team, but they have lost $200 million since 2001 which is more than the value of the franchise. Reportedly he has been trying to sell to former partner Ellman, who is not that dumb.
    Coyotes attendance is up to 14,704 through first 12 games this year, from 13,661 last year, but that is largely driven by giveaways - 4 games for the price of 3 type sales.
    Moss says prices were dropped 10% to 15% this year for marketing purposes...but attendance looks like is up about 8% (1,043 increase per game).
    Bankruptcy may be as likely as survival.

    Street & Smith's Sports Business Daily:

    Coyotes' Face Uncertain Future As Financial Troubles Mount
    The Coyotes are expected to lose between $25-35M this year, and with Owner Jerry Moyes' "primary business under financial duress, the question is whether [he] is able to continue underwriting the NHL franchise's losses," according to David Shoalts of the GLOBE & MAIL. Moyes may be "looking to sell the team or he could be forced to put it into bankruptcy if he cannot persuade the city to alter leasing terms on Arena." If Moyes enters the franchise into bankruptcy protection it would "allow the franchise to break the lease under U.S. bankruptcy laws."
  4. silvanthalas

    silvanthalas Active Member

    I don't know how much that would hurt the city if the Coyotes go under bankruptcy and are allowed to get out of the lease, but I bet it won't be pretty.

    It would royally suck if it does happen, because Moyes' deserves to be saddled with that building for the rest of his days.
  5. Rabid Camel

    Rabid Camel New Member

    A possible owner to keep the team in Phoenix, and eventually a possible one who would want to move it:

    "Hollywood movie and television mogul Jerry Bruckheimer, long thought to covet an NHL franchise, has been linked to the Coyotes."

    "Because the primary goal of Moyes and the NHL is to keep the Coyotes in Phoenix, BlackBerry inventor Jim Balsillie would be ruled out, at least for the time being. His interest in NHL ownership generally has been limited to teams he might at some point be able to relocate to Ontario."

    "City of Glendale spokesperson Julie Frisoni said the city has a policy of not discussing ongoing negotiations. She did say that city lawyers have investigated the lease and believe that in the event of bankruptcy, the city and its investment are well-protected."
  6. McSwarmFan

    McSwarmFan New Member

    Bruckheimer ??

    Is he the famous dude tied to the Las Vegas hockey/basketball project(s)?

  7. Rabid Camel

    Rabid Camel New Member

    Yes...Bruckheimer has been in talks with the NHL this past year about owning an NHL team in Las Vegas
  8. Rabid Camel

    Rabid Camel New Member

    "...the average ticket price of $31 ranks 29th out of 30 NHL teams"

    "Moyes, 63, took his company, Swift Transportation, private in May 2007 with debt financing of $2.74-billion. One of the largest truck carriers in the U.S., Swift immediately ran into a financial hurricane of rising fuel prices and a falling economy.

    In June, Moody's Investors Service changed its outlook on the company to "negative" from stable. By late November, the junk bonds issued to finance Moyes' takeover were trading at 18 cents on the dollar, and bank debt is now trading at 43.5 cents on the dollar, according to Eiad Asbahi, the managing partner of Prescience Investment Group in New York.

    Asbahi's report on the company also shows that Swift loaned $560-million to Moyes as part of the takeover. He guaranteed the loan personally.

    "Calculating back from the value of its debt, Swift's liabilities now exceed its assets by anywhere from $1-billion to $1.5-billion (all currency U.S.)," Asbahi said.

    Asbahi said the only way Moyes may be able to avoid seeking bankruptcy protection for Swift is by exchanging some of its corporate bonds for equity in company."
  9. Fabio gump

    Fabio gump Active Member

  10. Rabid Camel

    Rabid Camel New Member

    "Last week, the team laid off 18 members of its staff, about 10 percent of the workforce."

    "The Coyotes, seventh in the Western Conference entering the week, already have to consult with the NHL on a myriad of decisions, from staffing to player personnel moves as the league takes an active role in trying to find new investors or ownership for the financially strapped franchise..."

    so...where are the requisite chumway and gretsky rebuffs to tell us everything is fine & dandy...
  11. RockStar

    RockStar Well-Known Member

    So where does this money go now?

    Back to the teams that actually earned it ? :rotfl:
  12. Rabid Camel

    Rabid Camel New Member

    I assume the lost revenue sharing is credited back to the top 10 clubs in revenue who pay in...either that or it all goes as charity to the Gretzy Hockey School for Delinquint Eskimo Children.

    "The league's sharing agreement distributes money from the top 10 clubs in revenue to the bottom 10 among the NHL's 30 clubs. The lowest-ranked club, the Coyotes last season, receives the most money, but to qualify for a full share, clubs have to hit certain targets, such as showing a specified improvement in their revenue and attendance over the previous season.
    Last season, the Coyotes finished last in the NHL in ticket revenue with a total of $18.4-million, according to figures obtained by The Globe and Mail. That was a decrease from $22.55-million in 2006-07."

    Gretzky confirms Coyotes in trouble

    ohps...Wayne musta heard's official, start the clock on the countdown to coyote extinction.

    "A TSN report on Wednesday said that as much as 80 per cent of the team is expected to be sold in the next two months, and that Moyes would retain as much as 20 per cent. Barring a sale, the club could be forced into bankruptcy proceedings. It is possible the Coyotes could be disbanded or moved out of Phoenix before next season."
  13. Vin

    Vin Well-Known Member

    I sort of hate to say this, but this could actually be a good thing.
    1. If the Coyotes are essentially toast in Phoenix, then, hopefully, they will return to Winnipeg.
    2. With the Coyotes out of the way, maybe, just maybe, in some way. this will help free-up a return of the NLL to the Phoenix area. I'm not optimistic, but I'm not pessimistic either. It somewhat reminds me of the Vancouver situation....
  14. Rabid Camel

    Rabid Camel New Member

    well they would have to get something into that arena...really nice new facility and would have no regular tenents, just rock concerts I guess.

    maybe they would try to get the roadrunners minor league hockey to move over from downtown, bring back a lax team.
  15. laxinoregon

    laxinoregon New Member

    Perfect solution. Paul Allen of the Blazers buys the Coyotes and moves them to the Rose Garden. He's been interested in the past and if the rumors are true he was pretty close from snapping the Penguins up.

    Portland, while at first glance isn't a true Hockey city, it is the only sport besides Basketball that would be viable here. Baseball wouldn't last, and neither would Football. But Hockey would fit in perfectly especially if they make it semi affordable.
  16. dougm

    dougm Well-Known Member

    doesn't allen own cox cable which jut filed chptr-11?
  17. laxchick

    laxchick New Member

    The mess in AZ is such a shame, it's a beautiful building built with hockey sight lines. Clearing the Coyotes out of the way could open the doors to lax but I wouldn't hold your breath on the Runners as they are owned by the Suns which operate and play out of downtown. Plus I do believe that part of the Suns lease agreement with US Airways Center is having 3 teams playing there. This may be b/c the better concerts do go out to Glendale but that is only speculation on my part.

    AZ really missed out on the opportunity to capitalize on hosting the Championship 2 seasons ago. There were approx 10,000 people in the building, about twice the avg regular season attendance and while a lot of them may have been comped the people that were there were treated to a great game and showcase of the sport and who's to say how many of them would have been signing up for season tickets for the next season.

    PHX is a tough town for sports, even the big guys. You see a lot of "entertainment fans" rather than true sports fans. Contrubuting factors being a lot of transplants from all over and there is a lot to do with your disposable income in a city like that. But PHX likes what's "cool". Cards fans started filling the building only b/c it was new. At the beginning of this past season there was no waiting list but there will be now b/c they're championship contenders. Even the Suns, who have been there for 40 years and have been playoff bound almost every year, are looking at a downturn b/c the team is starting to slide. I have a feeling they've been over in Glendale....

    Sorry, slipped a little to the side of the topic at hand. There was a lot of potential with the team there, and the chances on getting another Dan Dawson type to draw in the fans while developing the sport locally are getting slimmer and slimmer. I think it's tough to say if there's the possibility of a lax team coming back. You have a lot of magic that would need to be recreated and Edmonton, with Hamley taking over as GM is a perfect example of how hard it can be.
  18. Krewman

    Krewman New Member

    I agree with Rubid Camel. That is a nice arena. What other arena that has a walk up Hooter's? However hands down best arena I have been in is Nationwide Arena where the Blue Jackets play. That's another topic on it's own. (Landsharks, Landsharks GO!!!)

    The city was builing a complex of retail, restaurants, and homes all around the arena and the football stadium. If the Coyotes leave everyone else will too and that area will be a ghost town.
  19. Rabid Camel

    Rabid Camel New Member

    from Coyotes web site - a 40% off fire sale...

    Tickets available at up to 40 percent off beginning at 10 a.m. tomorrow Phoenix Coyotes Feb 10, 2009, 6:24 PM EST FOR IMMEDIATE RELEASE:
    Tuesday, February 10, 2009

    GLENDALE, ARIZONA --- The Phoenix Coyotes announced today that they will hold a President's Day Sale beginning at 10 a.m. on February 11 and ending at 12 p.m. on February 16. Fans will be able to purchase tickets at up to 40 percent off for the following home games:

    Monday, Feb. 16 vs. Edmonton Oilers - GET TICKETS
    Thursday, Feb. 19 vs. Atlanta Thrashers - GET TICKETS
    Thursday, March 19 vs. Anaheim Ducks - GET TICKETS
    Thursday, March 26 vs. Edmonton Oilers - GET TICKETS
    Monday, March 30 vs. Dallas Stars - GET TICKETS
    Thursday, April 2 vs. Los Angeles Kings - GET TICKETS
  20. Hollywood42

    Hollywood42 Well-Known Member

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