City of Glendale wonders about the $64 million question (and perhaps the $50 million opportunity lost)

The other day, the City of Glendale came along yet again and looked at the article on the $64.5 million question. You know, the big question of who holds the Jobing.com arena bonds?

marketing-101

Square peg, round hole?

Well, they did.

I wonder what really is going through city officials’ minds as they watch the Coyotes fans speak with their wallets. Last night, a reported attendance figure of 5,855 represents a small spit in the bucket of the attendance required to keep the team in Glendale beyond the one year.

Are we to believe the new owners (the NHL) will really try to find buyers that want to take significant, endless losses? Please!

That $50 million in retrospect of the last few games must be looking pretty good right now. But it isn’t ever going to be offered again. Get over it Glendale.

The sales taxes you must have reaped from the 5800 fans last night must have solved your budget woes, right?

The reality is, the location of the arena was a poor choice. It will not and has not created the revenue opportunities you as a City envisioned, and now the reality is even far worse than you could have possibly imagined.

If a family from dowtown Phoenix is going to come and watch a game in Glendale, don’t expect them to hang around for a snack at a restaurant later. But, had you taken the advice of Jerry Moyes, and Beacon Sports, you might have realized that a lot more concerts instead of hockey would have been a much better deal.

For one, people like to drink before and after concerts, and they tend to eat in restaurants to talk about the show afterwards. Because they drank, they are not likely to leave like that hockey watching family.

Rumour has it that Jobing.com arena is one of the best concert venues in North America, something to be exploited.

As a City, Glendale would be wise to bid adieu to the Coyotes, and hire a PR firm that specializes in attracting artists and can promote concerts, and with a little ingenuity, playing on the strengths of what works would be a far better idea than trying to hold onto something that doesn’t.

The NHL should take note too, and put hockey where it works.

But, there is just no convincing some people, is there?

Maybe, you could ask every single fan to pay $250 per seat, for all 40 games, and you would then only lose about $20 million a year.

Yep, you blew it Glendale. But you already know that by now, don’t you?

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4 responses to “City of Glendale wonders about the $64 million question (and perhaps the $50 million opportunity lost)

  1. Myley Cyrus packed jobbing.com Arena. As did Alan Jackson etc etc etc etc….
    Arena Football was huge in Phoenix & is making its return. The PBR is big business in the Southwest. Their were & are countless ways in which to make up for the Coyotes 42 dates. They kissed away a 50million dollar sweetheart deal instead of owning up to a whopper of a mistake. Pride goeth before the fall.

  2. The NHL has officially bought the Coyotes. The question is, did the terms void the Glendale 30-year lease?

    • No, the terms didnt ‘ void the Lease. The NHL’s still trying to delude the public that a new buyer will be found that will be able to work out a deal with the city for the “long term viability of the Franchise in Phoenix”. Behind the scenes however
      Im’ betting Bettman/Daley are trying to secure concessions in order to expedite a sale WITH an escape clause. Glendale was an unsecured creditor like Moyes & Gretzky (according to the league) and are supposed to be entitled to some portion of the 11million & shrinking piece of the pie agreed to by Jerry Moyes. Good luck with that. By the time this thing actually closes watch that 11million dwindle down to $1.38 & a Ham Sandwich.

  3. Pingback: Mounting evidence suggests Abu Dhabi investors likely involved with Jobing.com arena bonds « Make It Eight, eh? Hockey again for Winnipeg!

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