Goldwater Institute to Hulsizer: No Dice!

Well it looks like Hulsizers feeble attempt at saving his bid to purchase the Phoenix Coytoes was more "smoke and mirrors."  The Goldwater Institute saw right through it, and put the ball back in Hulsizer and the City of Glendale's court.  It probably did not help matters much that Hulsizer was quoted to imply that the GWI were  "brain dead."

According to the Arizona Republic newspaper,  the bonds offered by the city of Glendale for Mr. Hulsizer will ultimately cost taxpayers $250-340 million. That figure includes the initial bond offering of $100 million the city plans to issue to help Mr. Hulsizer buy the team, as well as projected interest on that bond. Additionally the city is obligated to pay Mr. Hulsizer $97 million for arena management over 5 years.

Hang on to your hats, Winnipeg hockey fans.  This roller-coaster ride is far from over.

Sale of Coyotes getting more bizarre with each passing day

Breaking News!

It looks as if Phoenix Coyotes prospective owner Matt Hulsizer has buckled under the pressure from the Goldwater Institute.  The Winnipeg Free Press has claimed that Hulsizer sent a letter to the Goldwater Institute, the taxpayer-watchdog group that has opposed his deal with the City of Glendale from the outset, informing them he’s going to guarantee $75 million of the bond proceeds that the city is fronting him.

I can just assume that if Hulsizer is planning on backing the bonds that need to be sold to keep the NHL club in Arizona, rather than the city itself, it will be easier to sell them on the market.  However, I am no legal expert, so I can just speculate on this.  Needless to say, this sale is seemingly becoming more bizarre each time there is a significant update to the Coyotes situation.

I'm sure we haven't heard the last of this seemingly never ending saga...

NHL: Goldwater Institute officially suing the City of Glendale over Coyotes Sale

It's official.

The Goldwater Institute, the independent Arizona government watchdog, has filed a lawsuit against the City of Glendale over the sale of the Phoenix Coyotes to Chicago businessman Matthew Hulsizer.  The Goldwater Institute claims the agreement violates two prohibitions of the Arizona Constitution, which requires that no Arizona government “shall ever give or loan its credit in aid of, or make any donation or grant, by subsidy or otherwise, to any individual, association, or corporation. . .” To read more about the Goldwater lawsuit, click here.

Among other things, the Goldwater Institute claims that the Phoenix Coyotes are "perennial money losers", and pose an enormous risk to the taxpayers of the Arizona city.  This could very well be the beginning of the end for NHL hockey in Arizona.

In other news, Dave Wheeler, columnist for the Winnipeg Sun claims that if the NHL returns to Winnipeg, the Jets name will not be used.  He claims to have "inside information" that a name, jersey, and logo have already been designed and are ready to go for when the NHL returns to Winnipeg.  I cannot say that I am the biggest fan of the name change, but I guess beggars can't be choosers.

Exclusive video of Gary Bettman reacting  to the news of the lawsuit. 

It's just a matter of time...

The gong show in Arizona continues.  It appears the City of Glendale, where the Phoenix Coyotes play, is contemplating a lawsuit against the Goldwater Institute, an independent government watchdog for devaluing the price of bonds.  It appears the negative publicity has scared away many potential investors.

In response to the legal threat, the Goldwater Institute, in more words or less, told the Coyotes and the City of Glendale to go fuck themselves.  The prospect of the NHL returning to Winnipeg has never looked better. All we can do is sit and wait patiently.  It's not a question of "if", but "when" our beloved Jets return.  I'll be celebrating at Portage and Main when the inevitable announcement is made.

For more on the "Gongdale Show" click on the video below: