For the bullet summary, please go here. To contact your MP regarding the Veto issue, please go here. Click here to file your complaint about the Veto of the MLSE (Maple Leafs Sports and Entertainment) to the Canadian Competition Bureau (CCB).
Jerry Moyes was not allowed to speak at the City Hall Council meeting in Glendale, AZ, regarding the $50 million PSE offer to the City. Here are his points he wanted to cover. He also did not have his phone calls returned from Ed Beasley (City Manager), or the mayor. They said he needed to get on the agenda 24 hours before the meeting, but once again the City ignored him!:
1. Coyotes sold 465,000 tickets in 2008-09 and owe Glendale (at $2.70) $1.26 million
2. Coyotes patrons paid Glendale $450,000 (at 2.2 percent sales tax) during 44 homes games.
3. Non-hockey patrons paid Glendale $419,000 during 50-plus non-hockey events.
4. Coyotes share of $525,000 annual rent approximates $243,000.
5. Westgate activity is slower during hockey, rather than non-hockey events.
6. Westgate businesses are estimated to pay Glendale $175,000 during 44 home games.
7. Glendale’s lost revenue from team relocation is estimated at $2.12 million per year.
8. Glendale should recover all or most lost revenue from additional non-hockey events.
9. $50 million invested in a 5-percent annuity would pay Glendale $3.5 million per year for 25 years.
10. An NHL purchase is likely to result in relocation following 2009-10 season.
11. Glendale team location will require a $20 million to $23 million annual subsidy by the City.
12. Multiple buyers confirmed the need for financial support to retain Glendale location.
13. Legal restrictions will prevent Glendale from providing the needed subsidy.
14. Glendale voters and the Arizona Cardinals will oppose a special taxing district.
15. NHL’s rejection of a Glendale lease will cap Glendale’s unsecured claim at $5 million to $7 million.
16. Refusing to support PSE’s bid would forfeit PSE’s $50 million guaranteed payment.
17. Refusing to support NHL’s bid costs Glendale nothing – it will try to find a Glendale buyer.
18. If PSE pays Glendale a payment pending appeal of a decision, it will defray appeal costs.
19. Glendale voters will be damaged if a $50 million payment is forgone for no City gain.
20. The Glendale City Council should enthusiastically support PSE’s bid.