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Report: Potential Coyotes owner might lack money to run the team

Aug 1, 2012, 9:36 PM EDT

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Considering the arduous journey to get there, it’s understandable that some view a completed Phoenix Coyotes sale as a “finish line” of sorts. In reality, that would be just the beginning for the new owner.

Michael Sunnucks’ latest update explores the possibility that potential owner Greg Jamison might have trouble running the team even if he manages to complete the purchase.

Operating capital could be the newest obstacle facing the Jamison purchase and the Coyotes tenuous situation in Glendale, Ariz.

Essentially, the prospective Coyotes owner needs the money, financing or favorable sales terms so he can pay the bills, meet payroll and keep the lights on after a sale.

Sunnucks discusses a few other elements that could make affording the team more difficult.

There are indications that even if Jamison is able to bring together the cash and investors needed to buy the Coyotes, he still needs to raise extra capital to then operate the hockey team.

That may include dealing with a possible work stoppage if NHL players and owners can’t reach a new collective bargaining agreement and games are lost. There’s also the chance the Coyotes situation could come up as owners and players craft a new CBA.

Sunnucks circles back to the possibility that the NHL might lower its asking price or find a way to finance the deal creatively – such as putting aside some reserve money to help the Coyotes “pay vendors and meet payroll” – but that would require NHL approval.

The NHL is reportedly asking for $170 million in the sale after purchasing the team for $140 million in 2009.

  1. oquintero99 - Aug 1, 2012 at 9:52 PM

    Please make it stop…pleeeeeaaasseeeee!

  2. buffalomafia - Aug 1, 2012 at 9:55 PM

    Again! Please move the team already?

    Quebec,Seattle or KC!

    • cweez2 - Aug 2, 2012 at 10:26 AM

      Love to see KC, but I realize it’s a distant 3rd. That said – they have the arena built already. I’m guessing QC will get the team.

      • anarchist9027 - Aug 2, 2012 at 1:13 PM

        If Quebec gets a team back, at least they will be better than the Habs so the french Canadians will have a team to be proud of

  3. buffalomafia - Aug 1, 2012 at 9:56 PM

    If they do move how will that affect the divisions?

    • atwatercrushesokoye - Aug 2, 2012 at 4:49 PM

      If they were to do a simple realignment, Quebec to the SE, Winnipeg to the NW and Colorado or Vancouver to the pacific, although I would guess we’ll see a major overhaul along the lines of what was proposed earlier this year with a slight modification,

  4. dougr42 - Aug 1, 2012 at 10:11 PM

    Isn’t this implied by the fact that he doesn’t have enough money to buy the team? Derr.

  5. guitarmy204 - Aug 1, 2012 at 10:32 PM

    This is a joke already. It’s time to take this thing out behind the barn and take care of it.

  6. rgotoguy - Aug 1, 2012 at 10:39 PM

    Will they just move the team to Quebec already and end this! This Jamison guy obviously doesn’t have the cash to purchase the team let alone have actual operating capitol to run the team.

  7. chazxcore - Aug 1, 2012 at 11:01 PM

    Pack it up and move to Seattle. This is just getting ridiculous. Doan, move to greener pastures.

  8. proudliberal85392 - Aug 2, 2012 at 12:52 AM

    If this was a sick horse, they would’ve shot it long ago.

  9. katolungile - Aug 2, 2012 at 1:51 AM

    I live in Phx, bought season tix and I’m ready for this to be over….

  10. ron05342 - Aug 2, 2012 at 3:11 AM

    I don’t have a dog in this fight, other than I rather have Phoenix stay so it means three easy travel days for the Kings, but the bigger picture here is that this story is pure speculation.

    There are no facts provided above or in the linked story to indicate whether Jamison has the money or doesn’t have the money. It’s just pure speculation by the writer, who doesn’t have a clue because he decided to craft a story around pure speculation and didn’t do any work to actually inform us readers whether Jamison has $1 in his wallet or $1 billion.

    What’s ironic is that the $20 million “short-fall,” if you will, has not been documented either. We still don’t know the names of Jamison’s investors, because he simply refuses to provide them. As far as we know, he may have saved up $1 to purchase the team of has the full $170 million with change to spare.

    We don’t know because the so-called “journalists” don’t do their homework these days. They simply speculate and pass it off as a “report.”

    • steeltownpride87 - Aug 2, 2012 at 6:53 AM

      ron05342 arent you speculating as well ? Have you talked with Sunnucks to see if its actually facts or speculation ? So you are speculating on speculations or facts ? Makes you no better my friend . Usually journalist have to have some facts or be in risk of getting sued . Its called a Source or two .

      • ron05342 - Aug 2, 2012 at 8:23 AM

        Then why bother writing the story at all?

    • beinian62 - Aug 2, 2012 at 11:54 AM

      If it was not as reported then this whole debacle would be over.
      It’s not the sale has not been completed and that is cause either Jamieson is indeed short the cash or the NHL loves drama and suspense. Hmmmm let’s go with he ain’t got the cash. Move the team damn it this is an exercise in stupidity

  11. hitem396 - Aug 2, 2012 at 4:07 AM

    time to say goodbye to both of this guy and the dessert.

    • lostpuppysyndrome - Aug 2, 2012 at 9:15 AM

      Yes, goodbye to ALL the desserts. The frosted ones, the chocolate ones, even the ones with sprinkles… ;)

  12. atb4 - Aug 2, 2012 at 7:44 AM

    Could they still move before this season starts? Or is any potential move put off to at least next summer?

    • lostpuppysyndrome - Aug 2, 2012 at 9:17 AM

      It’s much too late now. It was crunch time for the Trashers/Jets when they moved in June last year.

  13. innout10 - Aug 2, 2012 at 10:40 AM

    Are you kidding? Do you understand what the “Arena Management Fee” is designed to do?….that Pays for the majority of the operating costs. Absolutely clueless article and total speculation

  14. kotteintheslot - Aug 2, 2012 at 10:56 AM

    Don’t worry Mr. Bettman, there is no way you could have seen a hockey team from Arizona failing.

  15. canuckinamerica - Aug 2, 2012 at 12:40 PM

    No. I’m aghast !

  16. bcjim - Aug 2, 2012 at 1:36 PM

    This is ridiculous. If you even have to ask or wonder for 1 second whether a potential owner has enough money….HE DOESN’T.

    NEXT

  17. paledevil - Aug 2, 2012 at 2:10 PM

    Mr Roenick and Mr Gretzky should buya piece for their daughters

  18. gmsalpha - Aug 2, 2012 at 10:14 PM

    The Dodgers sold for $2b. Heck, the freaking Browns just sold for $1b. The BROWNS! In the world of professional sports, isn’t $170m chump change? If it’s this hard to find a buyer for the PHX market, doesn’t that tell you something? It’s not meant to be, folks. I have the feeling this deal will go through and end up a complete disaster. No way they’re going to be successful with a house poor owner. Weak hockey market + financially strapped owner = We’ll be reading all about how the Coyotes are up for sale again in 4 years.

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