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Does Greg Jamison Have The Funding To Buy The Coyotes?

from Mike Sunnucks of the Phoenix Business Journal

(Bill) Daly also dismissed speculation this week that Jamison now doesn’t have the money or financing to buy the team or that the NHL was looking at cutting the sale price or some kind of special financing to get the deal done.

But confidence in the deal is waning, even among some Coyotes boosters.

Several sources in Arizona familiar with the Coyotes machinations and supportive of Jamison’s bid are asking with concern why a deal hasn’t been finalized, where Jamison’s money is coming from and who his partners are.

Hanging over all of this is the fact that the $300 million Coyotes-friendly arena deal approved by the city of Glendale can’t be signed by Jamison until he buys the team.

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

Comments

Alan's avatar

Jamison has never had enough money to make the purchase and sustain the losses that will continue to mount. What amazes me is that people aren’t asking this question often enough.

Posted by Alan from Atlanta on 07/26/12 at 02:51 PM ET

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1) Who in their right mind would buy this team??  Even it were for free, it would be a bum deal!  There is NO model that has them being profitable regardless what GelnDale gives in breaks/compensation.
2) I have to wonder what Jamison was promised by Bettman. ‘Stick it out for a year or two then move to Seatttle when that arena is ready’??

Posted by Fauxrumors on 07/26/12 at 03:02 PM ET

Vladimir16's avatar

2) I have to wonder what Jamison was promised by Bettman. ‘Stick it out for a year or two then move to Seatttle when that arena is ready’??
Posted by Fauxrumors on 07/26/12 at 01:02 PM ET

Probably this ^^^^  The drama with this team is a joke. Hey Bettman! YOU SUCK!

Posted by Vladimir16 from Grand River Valley on 07/26/12 at 03:07 PM ET

RWBill's avatar

Hey Bettman! YOU SUCK!
Posted by Vladimir16 on 07/26/12 at 01:07 PM ET

I was trying to decide what to write about this.  That sums it up best.

Posted by RWBill from cruising Brush Street with creepy Rob Lowe. on 07/26/12 at 03:45 PM ET

Primis's avatar

And this is what Shane Doan is waiting on?  Seriously?

Kinda’ says it all.  I’ve honestly been behind them trying to save the NHL in the desert but, for God’s sake shoot the Coyotes and put them out of their misery already.  There basically is no hope of salvaging the situation at this point.  They’ve infuriated part of the market they need to draw fans from, and they continually bring in a horse and pony show of prospective owners who either bail or can’t get the financing right.

It’s dead.  It failed.

But for God’s sake don’t move them to Seattle is an NBA team is going there as well, unless you want to revisit relocation yet again down the road.

I really wish Houston wasn’t such an ownership clustermess.  If that whole ownership/arena issue wasn’t present, they’d already have a franchise and probably doing fine there IMO.

Posted by Primis on 07/26/12 at 03:47 PM ET

calquake's avatar

bring in a horse and pony show

Sorry… we’re not done beating this dead one yet.

Posted by calquake on 07/26/12 at 03:51 PM ET

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Mainly good points out there.

I have a degree but I did not take any business classes so maybe someone can help me out; with a potential strike looming, why would Jamison close this deal until the new CBA is signed?  This would be a shady (like you mentioned what was J amison promised) and unprofitable mega purchase if the CBA was not an issue.  So many red flags here.

Posted by 11B3PF7 in MN on 07/26/12 at 03:56 PM ET

awould's avatar

I’ve honestly been behind them trying to save the NHL in the desert but, for God’s sake shoot the Coyotes and put them out of their misery already.  There basically is no hope of salvaging the situation at this point.

There’s the same hope of salvaging it that there was a year ago and two years ago. The first hurdle is the ownership. If Jamison buys the team, the assumption must be that he can bear the losses until his magic wand works to change the direction of the franchise, ticket sales, etc.

Anyone bashing the lackluster fan support must be blind and ignorant. Given the turmoil of ownership and the constant threat of relocation, it would be shocking to see any new fans start caring, much less showing up to a game. The previous ownership and coaching was a disaster. The economy was hit harder than nearly every other hockey market in the world. The problems of the Coyotes are more related to these things than lack of interest from residents of the area.

Beyond ownership, the biggest problem they face is the location of the arena. It was the original mistake that compounded every other problem. And it is the one that cannot be fixed, obviously. There are ways around it in the long-term but nothing can be done in the immediate future.

Posted by awould on 07/26/12 at 03:56 PM ET

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If the only prospective buyer for the team doesn’t have the money, what is team still doing here?  I’m certainly not one of those anti-sunbelt teams type, but if the NHL is in a market like Phoenix and get a high roller who’s willing to take some hits for a few years, make a change.  The NHL has to be the worst league in North America at identifying good ownership.  Lots of 2nd rate rollers like Oren Koules, shady figures like Boots Del Baggio, and numerous fragile “partnerships” are what the NHL seems to attract.  The need guys with serious money to back these teams, not these kind of jokers.

Posted by henrymalredo from lansing on 07/26/12 at 04:41 PM ET

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Anyone bashing the lackluster fan support must be blind and ignorant.

I would suggest there may, in fact, be a third option…

27th
29th
29th
19th
22nd
24th
29th
28th
30th
29th
30th.

... and that option may be called ‘aware of reality’.

Just above is the Coyotes attendance rankings since 2000-2001, oldest to most recent.  I think a fairly reasonable description of it would be ‘atrocious’.  It also predates both the current ownership mess, the economic crash, and roughly 90% of first run TV shows.

Posted by HockeyinHD on 07/26/12 at 04:41 PM ET

Savage Henry's avatar

I have a theory: when Jaimison and Doan met, Jamison asked Doan for a loan, and that’s why Doan is looking elsewhere.

Posted by Savage Henry on 07/26/12 at 05:32 PM ET

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I really wish Houston wasn’t such an ownership clustermess.  If that whole ownership/arena issue wasn’t present, they’d already have a franchise and probably doing fine there IMO.

Can you expound on this?  I have always been curious as to why, after almost landing the Oilers in the late 90s, Houston was never seen as a possible NHL market again.

Posted by pippichongos from deep in the heart of texas on 07/26/12 at 06:28 PM ET

awould's avatar

... and that option may be called ‘aware of reality’.

It’s not so clear cut as that.

From 2000-2002, the team played in a crap arena and were historically bad. Their attendance numbers declined nearly every year they were in the valley, pretty much along with their win-loss record. They moved to Jobing.com for the 2003 season and their attendance jumped up quite a bit from 29th to 19th in the league. But they still sucked. And then the lockout happened. Hardcore fans will come back, as we all did, but they lost any traction they gained from the new arena. And they continued to suck, bad. The first time they iced a decent team was when Tippett was hired in 2009. By that point, the team was in BK and this ownership saga had started and the economy tanked. From 2008 to 2009, the team went from 87% capacity to 70%, despite improving the on-ice product.

But before everything fell apart, in the midst of the very bottom of their team success in the 2006-2007 season when they netted a whopping 67 pts, were dead last in the Pacific Conference and 29th in the league, their attendance was #24 at 88% capacity. Behind them in attendance were the great fans of Boston, Washington, Chicago and St. Louis. Coincidentally, all of these teams also sucked. Yet the total crap fans of Phoenix still managed to show up more than the fans of these stronger hockey markets. Or you could point to Pittsburgh as an example - it wasn’t until their ownership mess was settled and they started winning that their attendance figures turned around. So perhaps sucking correlates to poor attendance. I’m sensing a relationship here. And hey, look at New Jersey. They were #22 in attendance this past season and made it all the way to the Cup Finals - I imagine their ownership issues affected the attendance.

Even during the past three years, their attendance has eked up some as the team has shown some life. Now if the team gets stable ownership and some firm footing, and the economy has turned around some (at least in Phoenix it has), then I would expect the attendance capacity to bump up to atleast the 87-90% that they did from 03-08. And that’s not taking into account that it will likely be higher if the team can continue winning on the ice. At 88% capacity, that would put them in the #20-22 ranked arena. Not super awesome, but then again nobody is claiming their Montreal or Detroit. And the difference between

It is very easy to point at some numbers and laugh, but don’t be so dishonest or obtuse about it as to ignore all the factors that contributed. My point is that the factors contributing to the disaster are more related to these other influences than the fanbase. A losing team, ownership turmoil and a historically bad recession have not been kind to the Coyotes so what I was saying was to claim the team is failing due to the fans is a sign of ignorance to the scope of the problems.

Posted by awould on 07/26/12 at 07:25 PM ET

RWBill's avatar

why would Jamison close this deal until the new CBA is signed?

Posted by 11B3PF7 in MN on 07/26/12 at 01:56 PM ET

This is probably the best post on the page.

Posted by RWBill from cruising Brush Street with creepy Rob Lowe. on 07/26/12 at 08:42 PM ET

awould's avatar

why would Jamison close this deal until the new CBA is signed?
Posted by 11B3PF7 in MN on 07/26/12 at 01:56 PM ET

Probably true. This deal is cursed.

Posted by awould on 07/26/12 at 08:44 PM ET

OlderThanChelios's avatar

And this is what Shane Doan is waiting on?  Seriously?

I don’t think the “Doan Drama” was ever about whether or not the Yotes stayed in Phoenix. I think it’s always been a “dog and pony show” designed to net Doan the fattest and longest contract. Parise and Suter showed him what was possible and he just jumped on the bandwagon.

A few years ago, I liked Doan a lot as a hard-nosed player. Then, as the fustration of losing set in, I watched him become a complete a-hole. Now, I see him as nothing more than a money-grubbing, drama-queen and an a-hole.

Let Philly (or anyone else in the East) sign him for $6M for three years and get him the hell out of the West. I’d rather see the Wings take a one-year gamble on either Arnott or Knube at $2M than give that dirtbag one penny.

Of course, if he does sign with the Wings, I’ll be the first one to cheer when he elbows Weber in the head. smile

Posted by OlderThanChelios from Grand Rapids, MI on 07/26/12 at 09:18 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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