The problem: do you actually believe them?
I've figured all along, this was a hypothetical deadline to scare an owner (Matthew Hulsizer is the latest sucker) into possibly buying the team.
A former collegiate hockey player, Hulsizer apparently has a net worth of $300 million, based on published reports, as his name surfaced as the latest possible owner.
Let's consider that for a moment because the math just doesn't add up:
$140-$160 million is the NHL's asking price for the Coyotes, leaving Mr. Hulsizer with just $160 million if the team was bought on the conservative end (as I'd suspect the NHL to do, to rid the league of babysitting the team).
This would mean Mr. Hulsizer's net worth would be cut by approximately 46 percent after the purchase, and that doesn't take into account the fact he's going to lose probably $20M a season—based on the team's history, since relocating from Winnipeg in 1996.
It would take him only eight years to lose everything. Surely he'd pull out and sell the team to Canadian investors long before it ever reached that point, which I ultimately think will happen.
So in reality, even with a new trumped-up lease, the team will stay in the desert for, what, five more seasons at best?
Is this what all the commotion is about?
Another missed deadline for Phoenix, what a shock.
Arenadigest.com ran an article on Monday, talking about how it's obvious that the NHL and Hulsizer aren't going to reach the December 31st deadline.
All we ever seem to hear from Hulsizer is hopeful estimates and enthusiasm when it comes to securing a new lease and the team. Stuff along the lines of, "We remain hopeful that an announcement will soon be made that will keep the Phoenix Coyotes in Arizona for many years to come." That kind of political doublespeak.
Still, you can't blame him. I mean, what is he supposed to say? "We aren't close to a deal. I wish I had something more productive and positive to say, but the fact remains we aren't close (as The Hockey News reports). I sincerely question what I am doing here or if anything will ever get done."
Yeah, that would go over well with the hundreds of Coyotes fans left in the desert.
The Hockey News article, written in Ken Campbell's column, was written yesterday. If they weren't close to a deal, then how are they going to get everything submitted in just 30 short days?
I will be waiting and watching. If the NHL tries to pull the old, "We've seen significant progress being made, therefore we feel it's only best to extend the deadline in order to better get a deal done." (Translation: they have no clue when, if ever, it will actually get done). I can't wait to see how they spin it.
What is going to be their excuse for a delay this time?
By then, shouldn't it be time for the old joke of Ice Edge Holdings to come crawling back into the picture for the third time? I mean, we haven't heard from them in 5 months. You know they are lurking.
The other joke will be, what if any announcement is made on New Year's Day?
Hopefully, it'll be made from Winnipeg City Hall, announcing the Jets have flown back home.
Information and references from The Hockey News, Arena Digest.com, The Glendale Star, The Arizona Republic, and Edmonton CTV.CA directly contributed to the content of this article.
Like the new article format? Send us feedback!