Coyotes Sale Possibly Coming to a Close as Glendale Issues Bond Sale
by Travis Hair on Feb 9, 2011 9:52 PM MST
in Breaking Coyotes News
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[Note by Travis Hair, 02/09/11 9:39 PM MST: H/t to Jonathan Court (@gollybass on twitter) for pointing me to this.]
At long last the sale of the Phoenix Coyotes might be coming to an end. According to Moody's, the financial research company that gives governments and companies credit rating and rates such bond sales, the City of Glendale has issued a bond to be sold this coming Tuesday. In fact it's structured as two separate issues, one of 107 million dollars rated at A1 as well as a 9 million dollar issue also at A1. Once those bonds are sold the city should be able to pay the amount required in their deal with Coyotes buyer Matthew Hulsizer. A1 bonds are investment grade bonds that are classified as those that have a low credit risk, but have some susceptibility to long term risks.
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Great!
I think it definitely helps that the Coyotes are in Playoff contention.
I still think that none of this would be a problem if the Coyotes had gone to U.S. Airways Center or someplace like that. But, whatever the case, good job on Glendale’s behalf on being active in this.
I want to read “Coyotes staying in Phoenix!” in the news soon.
You probably will read that on Tuesday.
But one last time for everyone though.
THE COYOTES CAN’T PLAY AT USAIR! =P
It’s where they played before and it doesn’t work for hockey.
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JaredFromLondon: ...Odin, he's cool.
Oh, they used to play there?
Then my bad for not doing the research. I guess I should’ve looked them up on Wikipedia before talking.
It’s all good. =)
We get that all the time though. “Why don’t they play there?”
If you ever saw a game there, the ice goes underneath the overhang of the second level so a good chunk of the ice couldn’t be seen. It was pretty awful.
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JaredFromLondon: ...Odin, he's cool.
I came out to a Wild game a few years back (Glass Groin had 6 points). Sat in the upper deck, as the seats were cheap. Sat down, and realized I could not see one of the nets. Luckily, the friends I was with knew an usher, and she moved us to on the glass seats. Great deal.
Editor:Hockey Wilderness Assistant Editor:SBN Minnesota Owner: Komissaari erämaa
Rule #17: You may not impersonate representatives of Hockey Wilderness and handout NHL themed wrist bands.
Breaking News from Damien Cox:
Glendale is not, in fact, selling bonds… the are selling Bonds. Barry Bonds. No truth to the rumor the Yotes stay in Arizona. The confusion came because Bonds was seen loading moving boxes on to the truck, and Coyotes owners said they would fire him if he dropped another box, and he said “You can’t fire me, slaves have to be sold.”
Editor:Hockey Wilderness Assistant Editor:SBN Minnesota Owner: Komissaari erämaa
Rule #17: You may not impersonate representatives of Hockey Wilderness and handout NHL themed wrist bands.
...
You’re fired. =P
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JaredFromLondon: ...Odin, he's cool.
What a nice way to cap off the day
Big Coyotes victory, got a lot of stuff done around the house and moving forward with the team sale. Just great news all around.
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(Oh, and go Philly teams as well!)
Cautiously optimistic
Good news about the bond thing. However, I am not going to start cheering until it’s a done deal.
As for them playing at US Air (AWA), it wasn’t to bad there. Just a few obstructed seats. And it was a very convienient spot for everyone.
It’s too bad the owners at the time (Ellman?) didn’t put money up to renovate it to accomodate hockey. Or to build a new arena in Scottsdale, like they were going to. However, we have Scottsdale Mayor Mary Manross to thank for that. Way to go Madge!
Anyhoo, hopefully this fiasco will finally be over and the Whinipeggers can move on and go harass Atlanta. Go Yotes!
i remember them talking about building it in scottsdale...
it was going to be at los arcos…and idealy would have been the best place, since its much closer to alot of their fan base
personally im glad that they got their own building, as opposed to just renovating AWA
if they renovated it, they would still have alot less seats than the average hockey arena (i remember attendance was 16,210…and that was with the obstructed seats)
not sure what they would have had to do to get it to hockey standards…unless they completely ripped off that side of the arena and rebuilt it with an extended area…i guess they could do it in the off season (seeing as basketball and hockey play at around the same time of year)
but it might have taken a really long time…plus, from what i read, alot of the reason the yotes are in finacial trouble is because they had a bad lease agreement from AWA that took them along time to recover from
by RockerSeven on Feb 24, 2011 12:19 AM MST up reply actions
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