For the bullet summary, please go here. Yes, that’s right, a history of the desert turkeys and the story of why the team never flew north. As Les Nessman said on WKRP, “as God is my witness, I thought turkeys could fly”. Oh the humanity!
Bizarre does not begin to explain the ongoing drama in the desert over a hockey team the Toronto Maple Leaf fans would trade in a minute for.
The turkeys on the ice (Toronto) are drooling at the early success of the turkey franchise in the desert that are playing really good hockey.
And as mentioned by Steve Scott on a number of occasions on Make it Seven:
If Hamilton got a hockey team, Toronto would want one too
So true Steve, so true.
But this little blip is not about the turkeys losing money or the turkeys on the ice down the QEW highway. No this little note is on the neither in, nor out, here nor there, approved nor disapproved, quiet little group known as the Ice Edge.
Apparently according to Daryl Jones, they are ready to buy the Coyotes, and have reached a deal in “principle” with the City of Glendale on the arena lease. As one Make it Seven ranter has said, why not make the deal to the court so everyone can see it? Well that is “never the intention” is it?
No, this deal with Glendale has to be completed outside the eagle eye of the law.
Last night there were a reported number of fans just shy of 7000. Bad, right? No, worse. The actual number of fans was closer to 5000 in the stands. Two winner and one loser last night. The Coyotes and Toyota win, and the Blues lose. Well at least the Toyota seat back sleeves will protect the seats from wear and tear while promoting the automaker. Ironic when Honda is the official automaker of the NHL. Ah, what the hay, nothing adds up anymore in this fan’s NHL.
Back to the boys.
We reported at the outset that an analysis of “why these guys care”, brought out some interesting comments.
the buying of the Coyotes is a business decision
- there are an awful lot of foreclosures in Glendale, and a lot of hockey fan imports into these homes by Canadians
- the real estate market is due for an upturn
- the collection of property taxes in Glendale has to be an issue
Okay, starting to refocus on the picture here?
When Ice Edge does not expect to turn the turkey to a swan for a couple of years, and the NHL has always looked for the deep pockets of NHL owners, a la we need to tap your wealth when the turkey gets really hungry, you start to wonder (again).
Where is the support of the NHL?
Rah, rah, rah, right Gary and Bill?
Notin, nada, zilch.
The only boys that seem to truly care are in town and talking with the City about revenue sharing that will not “directly” impact the residents (unless they have a house in trouble no doubt):
In the meantime, Ice Edge has managed to reach an agreement in principle on an arena lease with the suburban city of Glendale, where the Coyotes play. Daryl Jones, one of the principals of the Ice Edge group, said yesterday the leased will not include any direct subsidies from the city of 250,000 people, but there will be ways for the team and the city to share revenue.
Maybe just not hockey revenue.
When we look back on the previous articles on the Ice Edge boys, we learned that foreclosure revenues are lucrative. An example cited the ability to buy a home for the cost of the back taxes, and turn a $200,000 plus profit.
And that’s just one property!
What if there were 100, or 500, or 1000. Well, at $200,000 per pop, 100 means revenues of $20 million. At 500, that revenue is now $100 million, and sorry, to do the math on the 1000 properties, my little calculator has given up the ghost.
Deep pockets, eh?
What if a City didn’t really care as much about hockey as it did collecting taxes? What if there were a whole bunch of homes that were vacant, and owed taxes for, and mean a double edged sword – no collection, and no future tax prospects.
What if there was a company that offered to use a hockey team as a loss leader, and stroke the City for the deal they could conjure up off the ice?
Two winners and one loser yet again.
City of Glendale and Ice Edge win, and the NHL loses.
Five thousand fans showed up in Phoenix which could reflect the economy. I wonder how many vacant homes and tax issues would be reflective in just 5000 people showing up to a luxury expense event like hockey?
No deep pockets, but perhaps a two year window to capitalize on some properties in Glendale.
No wonder Ice Edge is not really approved, but almost impossible at this point to reject.
The PR disaster that the NHL is enduring now has the vultures hovering in the desert skies.
The Toronto Maple Leafs fans, and the people of Hamilton aren’t the only ones drooling to get a hold of some great turkeys on ice.
The vultures can smell the opportunity in the desert skies……and their prey may be those that have lost not just a hockey team, but their homes.
Death, taxes, and the showing up of the ‘opportunists’ are the three certainties in life!