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Future of Shane Doan, Coyotes ownership set to come to a head


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DAVID SHOALTS

The Globe and Mail

Published Monday, Jul. 30 2012, 11:01 AM EDT

Last updated Monday, Jul. 30 2012, 11:08 AM EDT

A franchise with countless watershed days over the last three years is having another one on Monday.

The Phoenix Coyotes should learn today if captain Shane Doan has run out of patience with would-be owner Greg Jamison and decided to look at the six offers he received from other NHL teams since he became an unrestricted free agent July 1.

Also today, there is a court hearing about a petition to put a sales-tax increase on the ballot for November’s municipal election in suburban Glendale. The petition, which seeks to repeal the increase, was rejected by Glendale officials earlier this month.

It is not clear if Glendale residents can reject this increase, which is expected to raise $22-million (all currency U.S.), or if the vote would only apply to future increases should the court rule it can be put on the ballot. The court is expected to clarify that.

If the tax increase, which goes into effect this week, is eventually overturned, the acting city manager has said he is not sure Glendale will be able to pay Jamison the money called for in the Coyotes’ arena lease. The 20-year, $324-million lease requires a payment of $17-million to the Coyotes for the 2012-13 NHL season.

However, Jamison and the NHL may have bigger problems. The Phoenix Business Journal reported on the weekend the former president of the San Jose Sharks is $20-million short of raising the $170-million purchase price for the Coyotes demanded by the NHL. NHL deputy commissioner Bill Daly said in response nothing has changed in the sale situation.

This brings up another question – if Jamison cannot raise the purchase price how will he cover the Coyotes operating losses above the $17-million covered by the arena lease if the sale ever goes through? In a good year, the Coyotes lose more than $20-million.

The NHL has already extended its agreement to manage Jobing.com Arena to Wednesday because of delays in the sale. Another extension is looming, as is the bigger decision about owning the Coyotes for another year.

But if the NHL is stuck with the Coyotes for another year it is unlikely to receive $25-million from the city for “arena-management fees” this season. The city simply does not have the money and both candidates for mayor as well as many candidates for council seats are opposed to further payments for the team.

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kinda sad story how doan really wants to play with the only franchise he's ever bin with, but that franchise may not be able to bring him back because of managing issues. Vancouver a great alternative shane, come win a cup with us!

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settle's getting darn close, and bellevue remains a VERY valid option too. Levin is pursuing an arena right beside the 405, which could have it's own off ramp, and the port of seattle (the only opposition in seattle due to increased traffic) would have no say to the matter. Levin is also open to going in on the seattle arena if it goes through, but he's keeping his options open. I would be fine with either one, to be honest. and the tacoma dome could be used for the upcoming season if necessary while either building is being built. a full story on the matter is posted in the "breaking news" seattle thread.

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settle's getting darn close, and bellevue remains a VERY valid option too. Levin is pursuing an arena right beside the 405, which could have it's own off ramp, and the port of seattle (the only opposition in seattle due to increased traffic) would have no say to the matter. Levin is also open to going in on the seattle arena if it goes through, but he's keeping his options open. I would be fine with either one, to be honest. and the tacoma dome could be used for the upcoming season if necessary while either building is being built. a full story on the matter is posted in the "breaking news" seattle thread.

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thought some might find this link of interest

http://www.cbssports.com/nhl/blog/eye-on-hockey/19688215/report-greg-jamison-20-million-short-in-attempt-to-buy-coyotes

(in part it says)

There are very few hoops left to be jumped Greg Jamison to finish his purchase of the Phoenix Coyotes and finally provide some stability to the NHL's most unstable franchise. In fact, the road appeared to be paved when the city of Glendale rejected a petition to get the lease agreement on the ballot for public vote.

So why hasn't the deal been consummated and announced yet? After all, Shane Doan would really like to know what's going on. A certain franchise captain would like to return.

Well there's a pretty serious holdup at play according to Mike Sunnucks of the Phoenix Business Journal.

Prospective Phoenix Coyotes buyer Greg Jamison is approximately $20 million short of the money he needs to buy the hockey team and keep it in Glendale.

The Coyotes deal is on tenuous ice but could still happen, according to multiple sources familiar with the team's three-year ownership saga and uncertain future in the Phoenix market.

Jamison is courting new investors and partners to help him cobble together the money and financing needed to purchase the team from the National Hockey League.

(So if $20 million is h
olding up the sale where is Doans Money going to come from?)

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Thanks for the update on your other thread avelanche. Bellevue is a very affluent part of the greater Seattle proper. Either location is certainly better than anything in Glendale. How quickly though, could the Tacoma Dome be converted into an NHL arena? These Seattle venues might take up to two years to complete.

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kinda sad story how doan really wants to play with the only franchise he's ever bin with, but that franchise may not be able to bring him back because of managing issues. Vancouver a great alternative shane, come win a cup with us!

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