-SN- Posted May 15, 2015 Share Posted May 15, 2015 Interesting article from TSN regarding the Coyote's arena situation. Some pretty crooked things going on.http://www.tsn.ca/coyotes-survival-hinges-on-arena-deal-battle-1.283772 Senior elected city officials in Glendale, Arizona, say they are exploring whether legal grounds exist for them to void an arena management contract with the Arizona Coyotes, an agreement that calls for taxpayers to contribute $15 million per year over 15 years to the flagging NHL club. When the city council in Glendale voted to give the owners of the Coyotes $225 million (all U.S. dollars) over 15 years, the money was supposed to be used by the team to manage the 12-year-old Gila River Arena, where the Coyotes play their home games. The deal helped narrow the losses of a club that sports investment bankers say is a perpetual money loser, bleeding some $50 million or more per year. But nearly two years after council approved the controversial pact, city officials claim the money that cash-strapped Glendale is paying to the team's owner IceArizona is instead going directly to Fortress Investment Group, the New York-based asset manager which financed holding company IceArizona's purchase of the Coyotes. That's because consultant Tony Tavares, the onetime president of both the Dallas Stars and Mighty Ducks of Anaheim, has delivered to Glendale city auditors a report that alleges IceArizona under-reported its losses last season during the first year of the 15-year arena management contract, sources tell TSN. While IceArizona said it lost $34.8 million during the 2013-14 NHL season, Tavares's confidential report claims the holding company lost far more than that. TSN couldn't confirm the exact amount Tavares claims IceArizona lost. The report suggests tactics the city might take to challenge the Coyotes in their bookkeeping. Link to comment Share on other sites More sharing options...
IbanezRG Posted May 15, 2015 Share Posted May 15, 2015 Hello Nordiques. Link to comment Share on other sites More sharing options...
AriGold Posted May 15, 2015 Share Posted May 15, 2015 Link to comment Share on other sites More sharing options...
Tre Mac Posted May 15, 2015 Share Posted May 15, 2015 What a joke. Well Bettman sold the Islanders to a fraudster that just made his own bank statements so i am not surprised that the little keebler elf is overseeing this farce. Link to comment Share on other sites More sharing options...
TheRussianRocket. Posted May 15, 2015 Share Posted May 15, 2015 I'm not going to get my hopes up anytime soon. If anything, history has shown Bettman and the league will go to any extent to keep the team there despite the obvious failure and losses the city has brought. I don't expect that to change now all of a sudden. They'll find another excuse to keep the team there and give them "another shot". Link to comment Share on other sites More sharing options...
Guest Posted May 15, 2015 Share Posted May 15, 2015 Just get them out of there. I don't understand why the NHL cannot admit failure here. Move them to Seattle, Quebec, wherever Link to comment Share on other sites More sharing options...
PlayStation Posted May 15, 2015 Share Posted May 15, 2015 Just move them to Vegas, we dont need more teams in the NHL. Link to comment Share on other sites More sharing options...
goalie13 Posted May 15, 2015 Share Posted May 15, 2015 If for no other reason, I want to see them move just to put an end to all the nonsense. Link to comment Share on other sites More sharing options...
Armada Posted May 15, 2015 Share Posted May 15, 2015 I'm sure if they were located directly in Pheonix there would have never been talks about the Coyotes struggling. Link to comment Share on other sites More sharing options...
jdatb Posted May 15, 2015 Share Posted May 15, 2015 I'm sure if they were located directly in Pheonix there would have never been talks about the Coyotes struggling. Agreed. Why is the franchise in Glendale??? Link to comment Share on other sites More sharing options...
avelanch Posted May 15, 2015 Share Posted May 15, 2015 Agreed. Why is the franchise in Glendale??? they wanted lots of open space for all the crowds... Link to comment Share on other sites More sharing options...
thejazz97 Posted May 15, 2015 Share Posted May 15, 2015 they wanted lots of open space for all the crowds... And then they laughed, and laughed, and laughed and laughed and laughed... Link to comment Share on other sites More sharing options...
Neversummer Posted May 15, 2015 Share Posted May 15, 2015 Problems in Arizona Coyotes ... Groundhog day. Link to comment Share on other sites More sharing options...
theminister Posted May 15, 2015 Share Posted May 15, 2015 The future Kansas City Something Or Others Link to comment Share on other sites More sharing options...
shazzam Posted May 15, 2015 Share Posted May 15, 2015 Quebec baby lets go! Link to comment Share on other sites More sharing options...
theminister Posted May 15, 2015 Share Posted May 15, 2015 Quebec baby lets go! Quebec will be Florida and Arizona will stay in the West. Link to comment Share on other sites More sharing options...
avelanch Posted May 15, 2015 Share Posted May 15, 2015 Quebec will be Florida and Arizona will stay in the West. agreed. I think AZ will become the new LV team and KC will get an expansion (or vice versa). Then SEA will get it's own expansion shortly thereafter. Link to comment Share on other sites More sharing options...
theminister Posted May 15, 2015 Share Posted May 15, 2015 agreed. I think AZ will become the new LV team and KC will get an expansion (or vice versa). Then SEA will get it's own expansion shortly thereafter. This is exactly what will happen with LV being expansion next year and KC being a relocate IMO. You know I've been saying this for a long time. I've seen nothing to back off of that prediction. It's only a matter of time now....and less than 6 weeks until the LV announcement at the draft IN Vegas. Link to comment Share on other sites More sharing options...
avelanch Posted May 15, 2015 Share Posted May 15, 2015 This is exactly what will happen with LV being expansion next year and KC being a relocate IMO. You know I've been saying this for a long time. I've seen nothing to back off of that prediction. It's only a matter of time now....and less than 6 weeks until the LV announcement at the draft IN Vegas. well, the Draft is in Florida, but i agree, LV will be announced this summer. maybe at the nhl awards in vegas? Link to comment Share on other sites More sharing options...
theminister Posted May 15, 2015 Share Posted May 15, 2015 well, the Draft is in Florida, but i agree, LV will be announced this summer. Sorry....I meant awards... Actually going to the draft so I knew that. Link to comment Share on other sites More sharing options...
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