Fascinating story in the Globe and Mail today from David Shoalts. Shoalts ,who has caught the ire of the Ice Edge guys and won an award from his fellow media folk for work on the Balsillie vs. NHL re Phoenix.
Shoalts reported that the apparent deal between Matthew Hulsizer to buy the Phoenix Coyotes was in peril:
“Good news for hockey fans in Winnipeg.
Matthew Hulsizer’s bid to buy the Phoenix Coyotes from the NHL has stalled because the Chicago businessman wants a big discount on the $165-million (all currency U.S.) the league wants for the team, two sources say. This, the sources add, is despite the fact Hulsizer, 40, has an agreement in principle with the city of Glendale, Ariz., on a multiyear arena lease that could pay him $100-million toward the Coyotes’ annual losses through parking charges, taxes and property levies from a community-facilities district created around Jobing.com arena.”
Well, it appears that this is, like the Man U sale to Ice Edge just isn’t the case.
“A spokesperson for the City of Glendale told the Free Press that the city and the Hulsizer group, headed by Chicago businessman Matthew Hulsizer, have agreed in principle to a lease that would allow the group to purchase the Phoenix Coyotes from the NHL. The reported $165 million deal will still need to be approved by the NHL board of governors.”
Now that doesn’t sound like a deal in peril does it?
Stephen Brunt, Shoalt’s colleague followed suit:
“A new rich guy has entered the picture – Matt Hulsizer, about whom very little is known, and who is largely absent from the public record, though he did have the wherewithal to deposit $25-million (U.S.) into an escrow account to demonstrate that he was serious. But it is worth asking where said rich guy was lo these many months when the team was available for a song, how he differs from the other rich guys (Jerry Reinsdorf, the plucky lads from Ice Edge) who in the end decided to pass, and why would he lock himself into a situation that all but guarantees massive annual operating losses unless the city fathers are as willing to provide massive annual subsidies?”
Ooooops. The deal is apparently done.
Shoalts article is here
Brunt’s article is here
Article on deal being done with the Phoenix Coyotes is here