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...