Darin Pastor group bid REJECTED! So it continues…..
By Troy Baker
Well we should of seen this coming. The fans of the Phoenix Coyotes never get a break, never the easy road, only pain!
Pastor and his group’s bid were rejected and reports on why differ. The main reason was instead of paying for the team in full in 3-5 years, it seemed the group wanted about 15 years to close on the deal. Also it was reported they wanted to put no cash up front which Pastor denies feverishly. This puts us not at square one but for Coyotes fans, no satisfaction until we hear deal accepted. Then we can get a little excited.
This opens the door for Leblanc and Gosbee’s group to negotiate and reports have them submitting a proposal after talks with the NHL and the company hired to negotiate a possible deal. There are several groups being considered and compiling bids, which is a good thing. Activity breeds activity.
It is my guess that the reported $42 million down and 15 years to pay will not get it done but I assume Pastor’s group will counter with more down and less than 10 years to complete purchase.
Don’t forget the City of Glendale. They will most likely spend around $10 to $12 million to the new owner to operate the arena and it it includes. The figures vary but with over 5 million to operate an empty arena one would speculate it would cost double with an anchor tenant and other events such as concerts and other entertainment.
If I were running jobing.com I think I would have everything possible happening there. Disney on ice feels like a natural fit. What type of concerts would I get? ALL! Country draws the biggest so hello Mr. Blake Shelton. The bottom line is to fill the venue all year long and get Westgate thriving. Glendale will make money, Coyotes will stay, everyone is happy.
The bottom line is if I won Powerball…..You’d all be wanting season tickets! Suites would be sold out as well.