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Does Jamison Have The Money To Buy The Coyotes?

from Mike Sunnucks of the Phoenix Business Journal at The Sporting News,

Prospective Phoenix Coyotes buyer Greg Jamison has until Thursday purchase the hockey team from the NHL.

Otherwise time runs out on the latest city of Glendale arena deal that helps Jamison’s group buy the Coyotes.

Glendale approved a $308 million arena deal in November. Jamison has until Jan. 31 to buy the Coyotes from the NHL otherwise the city deal and money goes away.

Jamison continues to be very private about whether he has the money to close the deal and where the money is coming from to buy the team.

That has always been the problem with trying to close the Coyotes deal and keep them here. The money, financing and investors have not yet come together to close a deal.

continued

Filed in: NHL Teams, Phoenix Coyotes, | KK Hockey | Permalink
  Tags: greg+jamison

Comments

TheFreak's avatar

Thought this was all settled by now…

Wonder how much the player lockout impacted the “other investors” coming together to finalize the deal?

Posted by TheFreak on 01/28/13 at 01:09 PM ET

Paul From Cali's avatar

Here’s to hoping the deal falls through and the team ends up in Quebec or somewhere in Canada.  Nobody in Phoenix cares about hockey.  This team went to the Western Conference finals last season and they still can’t put fannies in the seats.  End the stupidity already and move the team to a market that will appreciate it.

Posted by Paul From Cali on 01/28/13 at 01:33 PM ET

LivinLaVidaLockout's avatar

Here’s to hoping the deal falls through and the team ends up in Quebec or somewhere in Canada.  Nobody in Phoenix cares about hockey.  This team went to the Western Conference finals last season and they still can’t put fannies in the seats.  End the stupidity already and move the team to a market that will appreciate it.
Posted by Paul From Cali on 01/28/13 at 12:33 PM ET

Why can’t he buy the franchise with 0% down?
This has been a farce since the beginning, there’s no harm in drawing it out another 2 years when the league finally moves on.

Posted by LivinLaVidaLockout on 01/28/13 at 02:12 PM ET

Kate from Pa.-made in Detroit's avatar

Nobody in Phoenix cares about hockey.

True. It is a transient City. And, many of the residents are Snowbirds over the age of 60. This is not a knock on the fans or the City. It’s just the facts.

I was a resident for 13 years(1991-2004) and I loved the Desert. Many people move there and can’t deal with the climate or just get Homesick.

Either way, hockey is not viable there. The proof is in the numbers. Moving the team back to Canada is what is indicated.

Lets Go Red Wings!!!!!

Posted by Kate from Pa.-made in Detroit on 01/28/13 at 03:04 PM ET

NIVO's avatar

Hellooooooooooooooooooooooooooooooo Seattle.

Nobody in Phoenix cares about hockey. 

Posted by Paul From Cali on 01/28/13 at 12:33 PM ET


Just all the wing nuts out there smile

Posted by NIVO from underpants gnome village on 01/28/13 at 03:21 PM ET

redxblack's avatar

I think I’ll throw my hat into the ring to buy the coyotes. I have about as much of a possibility in getting the financing as the last three attempts. Further, it will make me care slightly about the desert dogs for a few minutes, which helps “grow the game.”

Posted by redxblack from Akron Ohio on 01/28/13 at 04:23 PM ET

awould's avatar

“As proof that hockey isn’t popular in Phoenix, let’s only look at the attendance numbers for the years when the team was bankrupt, had no owner and the economy was in shambles.” - every critic of hockey in Phoenix.

Something about that just doesn’t seem fair. It’s like opening a lemonade stand on a rainy day and blaming the location when you don’t sell out.

Here’s a handy reference to how their attendance actually fared historically:

America West Arena - 16,210 capacity
1996-97 15,604 ~96%
1997-98 15,405 ~95%
1998-99 15,548 ~95%
1999-00 14,991 ~92%
2000-01 14,224 ~87%
2001-02 13,161 ~81%
2002-03 13,229 ~81%

Jobing.com Arena - 17,125 capacity (17,534 with standing room)
2003-04 15,469 ~90%
2004-05 strike
Gretzky became head coach
2005-06 15,582 ~90%
2006-07 14,998 ~87%
Worst record since moving to PHX
2007-08 14,820 ~86%
2008-09 14,875 ~86%
Bankruptcy
2009-10 11,989 ~70%
2010-11 11,664 ~68%

Basically, when the team had solid ownership and put a good team on the ice, the fans showed up. When the team sucked, attendance suffered. When the team cratered, so did fan support.

As for the population, here are actual facts. About 26% of the Arizona is under 18 years of age. That is higher than the national average. 62% of population in Arizona is under 45 years of age. Also higher than the national average. The median age is younger than the national average. So Arizona is younger than the average state and Phoenix, already the 6th largest US city, is growing faster than nearly every other city in the country. Maybe that’s why the NHL is so keen on making it work here.

As for snowbirds,  they’re extra people who come from cold climates, like Canada, to spend the winter months (aka hockey season) in a warmer climate. This benefits the Coyotes.

I’m not saying Phoenix is a secret hotbed of hockey fans, I’m just tired of hearing the same weak arguments against it. It can work here just as much as any other warm city. The only truly negative thing about hockey in Phoenix is the location of the arena.

Posted by awould on 01/28/13 at 04:31 PM ET

Down River Dan's avatar

One can debate team “success ” based upon % of seats filled with bodies, but the bottom line is that the team has never turned a profit during a single season during their time in Phoenix.

The team has been good and bad. The team has played in an old cramped arena not designed for hockey, and also a shiny new arena with luxury suites and more seats. The fact is the team has lost money every year.

If this new guy wants to by the team and suffer the financial consequences then boy howdy -  give him a pen Gary. However if the team is going to continue to be a financial sink hole and depend on the league to quietly support it, then either move the team to Ontario or Quebec City , or simply fold up the tent , hold a dispersal draft, and move on!

Posted by Down River Dan on 01/28/13 at 05:41 PM ET

awould's avatar

There are many factors to turning a profit that have nothing to do with bodies in seats. However, bodies in seats is a good indicator of fan support.  And my argument above is related to fan support for the team. If an owner can’t turn fan support into money, then that’s an issue with ownership and not necessarily a cause to fold the team. I don’t think anyone believes the previous owner in Phoenix was good at running a hockey team.

And I assume anyone buying the team intends to make a profit. Perhaps one owner will succeed where others have failed. Perhaps having some consistency in ownership and direction will yield positive results over time. Hard to say. But mostly what I hear is that *obviously* Phoenix is a crap market for hockey because look at the attendance in the past few seasons. Which is a dumb argument when you consider the conditions.

Posted by awould on 01/28/13 at 06:06 PM ET

Paul From Cali's avatar

If the team can’t turn a profit or put fans in the seats when they’re a championship contender who the owner is won’t matter.  The issue isn’t the ownership it’s the city.  And to me the NHL’s blind insistence on keeping the team in Phoenix is hurting the team, the fan base, and the sport.  Yet another example of Gary Bettman & the owners arrogant view that their NHL is the only NHL that can work, even when it doesn’t.

Posted by Paul From Cali on 01/29/13 at 09:35 AM ET

Avatar

Wow, why do other cities worry about the Coyotes? Especially LA , they have the biggest bandwagon fans ever. Proof of it was on Sat night against the Coyotes. Stupid people cheering for a team just because they won the Cup.  UGH!
I am from Chicago moved her 15 years ago and used to be a die hard season tix holder for the Hawks (before they won the cup).  Many people that move here do not stay for a long time due to jobs and the economy. I have been a seaon tix holder for the Coyotes for 10 years and I think it’s pretty crappy of you to wish that our team would move away. I live pretty close to the arena but I would travel downtown to see them as well, at least it’s more exciting than baseball. So come on Jamison and buy our team and make it a money maker!!
Let’s go Yotes!!

Posted by Yotesgirl14 on 01/29/13 at 02:25 PM ET

redxblack's avatar

Would hockey in Phoenix work? It nearly did.

Does hockey in GLENDALE work? It hasn’t fared so well.

The NHL had the same problem in the 70s in Cleveland. The Cleveland Barons were a powerhouse franchise in the AHL. When the NHL expanded, they brought the Barons into the NHL and they played in the newly constructed (and HORRIBLE venue) the Richfield Colosseum. If you’ve never been to Richfield, Ohio, you’re far from alone. The RURAL town is about 30-40 minutes south of Cleveland and 20 minutes north of Akron. It was squarely between everything (in the middle of nowhere) in what was one of the largest markets in the US at that time. The franchise fit the “grow the sport” model of Bettman and crew. What happened? No one came. Weather played a factor for sure, but an inconvenient arena plus a pretty bad team meant low attendance and a fast move out of town. Cleveland lost their team to the Twin Cities, who then lost the same team to Dallas (who COULD potentially move again - perhaps back to Cleveland?).

Posted by redxblack from Akron Ohio on 01/29/13 at 02:39 PM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

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