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[CoyoteQ]

Reports surface of new suitor for Coyotes

When Greg Jamison failed to meet a Thursday deadline to purchase the Coyotes under the old lease agreement with the City of Glendale, it sent shock waves through the local hockey community. Were the Coyotes back at square one in their quest for stable ownership that would keep the team in the Valley?

Maybe not. City Councilman Gary Sherwood told The Arizona Republic on Thursday that while Jamison was in negotiations with the NHL, a new, deep-pocketed investor emerged who demanded a controlling interest. Multiple reports suggest that investor might have a Calgary background.

One man who fits the profile is Portland Winterhawks owner and Calgary oil mogul Bill Gallacher. Two sources told FOX Sports Arizona that he could be part of a group in the running to purchase the team on a fast track.

According to his bio, Gallacher is the president of Avenir Capital Corporation, a private equity firm that invests in new and existing junior companies. An engineer by profession, Gallacher was an entrepreneur in the oil patch and brings experience in the financial markets and corporate structuring. Gallacher sits on the board of directors of Avenir Diversified Income Trust, Athabasca Oil Sands Corp., Black Diamond Income Fund, Maxim Power Corp., Mahalo Energy Ltd. and Great Plains Exploration.

He is also a lifelong hockey fan who spends most of his time in the Calgary area and owns season tickets for both the NHL’s Calgary Flames and the Western Hockey League’s Calgary Hitmen. Gallacher is also a part owner of the British Columbia Hockey League’s Nanaimo Clippers.

Gallacher has been a bridesmaid in his quest to own an NHL team on several occasions, most recently with the Dallas Stars and the New Jersey Devils.

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[52G228PIM1996-97]

He seems to have no problems buying a non-portable asset..

[CoyoteQ]

Oh my! You don't say? UGH...right on queue... *sigh*

[Steelwool]

Wow, never saw this coming.
Oh wait, yes I did!!!
Another secret, deep pocketed investor who has been just waiting for his turn to jump at buying the team. A mere 3 years after the saga began.
Whoda thunk it?

[Tamby]

Like the article said, he was rumoured to be in the running for the Stars. But it didn't pan out. Sooooooo yeah. Not confident on this one for you guys, sorry.

[DRodger91]

[52G228PIM1996-97]

With the bulk of his wealth being tied up in BlackBerry stock, I'm not sure he could afford an authentic Coyotes sweater..

[DRodger91]

With the bulk of his wealth being tied up in BlackBerry stock, I'm not sure he could afford an authentic Coyotes sweater..

I'd laugh, but it's so true, it's not funny.

[damned]

You guys here anything about an Indian band and a casino deal tied in with a new owner to the Coyotes?

[Tamby]

An Indian band?!?! But Ravi Shankar died last year!

[CoyoteQ]

An Indian band?!?! But Ravi Shankar died last year!

lol...he must mean Indian tribe. Damn Canadians and their weird words. Any such tribe/casino/Coyotes deal you may of heard is complete rubbish.

[damned]

lol

They call them bands up here. True story!

Either way, Q answered my question one way or another.

[CoyoteQ]

The future of the Phoenix Coyotes is still up in the air, as a deal with potential owner Greg Jamison fell through last week.

Glendale Mayor Jerry Weiers said he would like the team to stay in Glendale, but only if a good deal is to be had.

"There's a lot of excitement and some possibilities," he told News/Talk 92.3 KTAR's Karie & Chuck. "We could end up with the Coyotes playing here, but I think we can do it at a cost that's going to be far less than the previous contract. I'm not going to keep hockey at any cost. We're going to keep hockey when it makes sense."

Weiers said he has received calls from other potential buyers, but would not name them. He added that Jamison is still allowed to put forth a new offer.

Link

If it isn't cash there's only so many ways $170,000,000 can be structured to be paid.

[CoyoteQ]

Councilman Manny Martinez said city officials have an obligation to taxpayers to deal with the aftermath of Jamison’s non-achievement.

“We still have that arena there. It was built for hockey. And if there’s a buyer out there that’s interested and wants to come up with a proposal, I’m willing to listen,” Martinez said. However, he cautioned, his patience is running out.

Weiers said Jamison, in effect, created an opportunity for the city to devise a new deal that lessens the financial burden on taxpayers. Any future deal, he said, would have to work for the city and work for residents.

“Mr. Jamison’s deal is done,” the mayor said. “What we’re talking about now is opening it up to other people, like bids. And we would be willing to accept any and all bids. If we had 10 bids, we would love that, because it gives us a better chance to be profitable.”

Weiers told his colleagues he understands that a couple of “very strong” investors could purchase the team and seek a new deal for the arena “extremely soon.” He did not identify the potential new buyers, nor did he define “extremely soon.” And none of the others asked him to elaborate about either.

Time is relative in relation to the Coyotes. The NHL has been trying to sell the team since at least 2009. Numerous potential deals have fallen apart during that time. Jamison worked on his effort for nearly two years.

Councilman Gary Sherwood criticized Weiers for presenting himself as the front man for renewed discussions with the NHL. He recommended that the city hire professional negotiators or that the city appoint a special committee for future efforts. Those suggestions fell on deaf ears.

Later, though, Alvarez recommended Weiers turn over his contacts with the potential buyers to the acting city manager to pursue. Weiers responded that he has been clear during his discussions that any new deal would require approval by a majority of the council, not just him.

Weiers didn’t reply to Alvarez’s suggestion that he turn over his contacts.

Sherwood questioned why any potential owner would want to buy the Coyotes knowing that the council is unlikely to offer another deal as lucrative as the deal offered to Jamison. The city should be prepared for a NHL-less future, he said.

“We have a precious three or four months where we have to get this done. Otherwise, we’re going to have to come up with a PlanB with something that doesn’t involve hockey,” he said.

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[Sinbin]

[CoyoteQ]

Such a great movie.

[Craig Simpson]

I had to read the date this thread started to make sure it wasn't from 2 years ago or last year or 6 months ago.

[CoyoteQ]

This new City Council is going to be a bigger joke than expected.

[CoyoteQ]

I had to read the date this thread started to make sure it wasn't from 2 years ago or last year or 6 months ago.

Not that it would matter. Unreal, huh?

[CoyoteQ]

Ray Whitney doesn't think Coyotes will leave Arizona

One former member of the Coyotes, veteran Ray Whitney, doesn't think the franchise will be anywhere but Arizona for a long time. Last offseason Whitney signed with Dallas instead of re-upping with the Coyotes. He thought Jamison would get a deal done, but as he told Sarah McLellen of the Arizona Republic, even if it's not Jamison, there will be a deal with someone to keep the Coyotes in Phoenix.

He has some relatively sound reasoning, too.

As long as Gary Bettman is Commissioner of the NHL, Whitney said he doesn't think the Coyotes will leave the Valley.

"I just don't see it," he said. "I think with the cost certainty now or even more established with the 50-50 [revenue split] and the contract limits it makes it more attractive. Maybe some of those people that walked away before are a little more intrigued now.

"Your franchise value obviously goes up. Your money that you have to pay out is fixed at a pretty good rate so you can make it happen. I don't know if Greg is going to have any opportunity again. I don't know about the City of Glendale, but I would think the City of Glendale doesn't have a whole lot. What's the alternative? An empty building?"

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