Another layer of madness added to Coyotes sale: Glendale might sue Goldwater Institute

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It doesn’t take an expert to figure out that the Phoenix Coyotes sale/conundrum is pretty much a disaster right now.

In case you haven’t been keeping tabs on the situation, the latest bump in a pothole-filled road of problems is that the City of Glendale hasn’t been able to sell the $100 million in public bonds that were crucial to generating the revenue to bring potential new owner Matt Hulsizer on board. The matter isn’t as simple as supply and demand, though, as the city is worried that a watchdog group known as the Goldwater Institute might sue Glendale for complicated dollar-and-cents/legal issues.

(I’m far from a legal expert, but from what I’ve read, the Goldwater Institute’s case is actually pretty reasonable. Especially since the city of Glendale hopes to help pay back the $100 million partly based on proceeds from parking lots around Jobing.com Arena, not exactly a hot ticket considering tepid fan response in the market. Let’s move on past these subjective – and complicated – matters, though.)

In a previous post, we pointed out that Hulsizer stated that he just wants the Goldwater Institute to make a decision whether or not to sue, indicating that maybe the group is dragging the matter out. Well, the City of Glendale might want a little more from that group. In fact, they might want “hundreds of millions of dollars in damages” according to ESPN’s Scott Burnside.

It would be wrong to call it a counter-suit since the Goldwater Institute hasn’t actually filed a lawsuit against the City of Glendale yet – and it’s important to remember this is a rumor anyway – but it would be a lot like a counter-suit in the grand scheme of things. Here’s an excerpt from Burnside’s report.

The lawsuit is expected to allege the Goldwater Institute was guilty of a legal form of interference when the institute reached out to potential buyers of municipal bonds, the sale of which are crucial to the City of Glendale’s new lease agreement with Chicago businessman Matthew Hulsizer, and warned them off purchasing the bonds.

(snip)

The league has had the option of relocating the team since the end of December but the emergence of Hulsizer looked like the team’s future in Arizona was going to be assured. But Goldwater’s threat to sue the municipality over the proposed deal has stalled the sale of the municipal bonds and thrown the team’s future into uncertainty.

A source familiar with the planned lawsuit said the city will name not just the institute itself but individual directors and will ask for “hundreds of millions” of dollars in damages.

It’s believed the city will also ask for a judgment that the lease agreement doesn’t contravene state law.

On the bright side for those of you who passed the point of exhaustion regarding this story, Burnside indicates that the league is finally fed up with the situation and wants a resolution within days. Of course, anyone who has been following the Coyotes non-sale for the last few years is probably used to all the false-starts and moments of apparent doom and hope. Deadlines have become something of a running joke during this sad little saga, so take the premise of a resolution with an admittedly appealing grain of salt.

As frustrating and perplexing as the situation might be, we will do our best to provide updates (and hopefully clarity) regarding the team’s future. Stay tuned.

Tom Gilbert signs one-year contract to play in Germany

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After playing 11 seasons in the NHL veteran defenseman Tom Gilbert signed a one-year contract to play in Germany this upcoming season.

On Friday the Nuremberg Ice Tigers announced that Gilbert, 34, had signed with the team.

He spent the 2016-17 season with the Los Angeles Kings and Washington Capitals organizations, appearing in 18 games for the Kings and scoring one goal to go with four assists. He was traded to the Capitals during the season but never played a game for the team.

A fourth-round pick by the Colorado Avalanche in 2002, Gilbert has played 655 games in the NHL, scoring 45 goals and adding 178 assists while playing for the Edmonton Oilers, Minnesota Wild, Florida Panthers, Montreal Canadiens and Kings.

He will not be the only former NHLer playing for the Ice Tigers as the team already includes Steven Reinprecht, Milan Jurcina, and Colten Teubert.

Blackhawks adjust to returns of Saad, Sharp (and no Hossa, Panarin)

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The Chicago Blackhawks’ summer conventions are a time for fans to get a look at players, and sometimes, for people to get adjusted to new arrivals and departures.

Even with that in mind, that theme seemed to play a big role in Friday’s proceedings, as the Blackhawks wondered how Brandon Saad and Patrick Sharp would fit back into the lineup … thanks to holes caused by Artemi Panarin being traded and Marian Hossa being unavailable.

Blackhawks coach Joel Quenneville rattled off a long stream of possibilities, as CSN Chicago’s Tracey Myers reports.

“You’ve got [Nick Schmaltz] who can play center or can play wing. [Artem Anisimov] in the middle, he can play with [Patrick Kane] so you’ve got some options there. With [Patrick Sharp] coming back and [Brandon Saad] coming back you’ve got some looks up front, some continuity from history and reacquainted again with [Jonathan Toews] and Saader on the the line,” Quenneville said. “And Sharpie and Kaner is a possibility.”

Yes, that’s a versatile set of options. It’s also plausible that Jonathan Toews could enjoy a nice boost with Brandon Saad back on his wing, yet let’s not assume that it’s a slam-dunk victory in everyone’s eyes.

Who knows how things will ultimately shake out, but at the moment, you wonder if Patrick Kane and Artem Anisimov suffer a bit with Panarin out of the mix.

Still, as explosive as Kane + Panarin was at times for Chicago, they ultimately couldn’t get the job done. Kane acknowledged as much on Friday.

Can they do better next time around? Well, with Sharp and Saad back in the mix, at least they have more players who’ve cleared those playoff hurdles before.

Myers has more at CSN Chicago.

Red Wings’ cap future after Tatar signing: should they buy out Ericsson?

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In a vacuum, the Detroit Red Wings handing Tomas Tatar a four-season deal that carries a per-year cap hit of $5.3 million makes a lot of sense. Tatar ranks as one of their deadliest scorers, and at age 26, the contract likely takes up the final years of his prime.*

Still, it must be mentioned that Tatar’s contract reminds us that the Red Wings may no longer stand as an obvious contender, yet they sure spend like one.

Yes, Johan Franzen‘s near-$4 million will go to LTIR, but this Cap Friendly reading still stands as a reminder that there isn’t much breathing room, especially with Andreas Athanasiou needing a contract. Detroit figures to have a little less than $1 million minus Franzen:

OK, so there are a few options. Winging it in Motown brings up an intriguing idea: what if the Red Wings buy out defenseman Jonathan Ericsson‘s contract?

They used Cap Friendly’s tool to show that a cap hit of $4.25 million would be spread out over six seasons in this setup. Each year, the actual cost would be a bit less than $1.39 million.

The bright side is that, for the next two seasons, the Red Wings would see real savings:

2017-18: save $2.61 million
2018-19: save $2.86 million
2019-20: save $2.86 million
2020-21 and 2021-22: would cost them about $1.39 million

Naturally, that would be quite the price to pay to get a player to not play for the Red Wings, yet it would also help Detroit squeeze under the cap. More on that conundrum here.

Let’s leaf through most of the Red Wings’ structure to see which deals are good, bad, and ugly.

(Note: As usual, Cap Friendly was highly helpful in putting this together.)

Dicey defense

  • Obviously, Ericsson’s health issues and struggles make him a tough guy to keep around at 33 and with a $4.25M. He’s merely the most obvious defensemen who’s an issue for this team.
  • Mike Green presents an interesting situation. He still has his use, yet at 31 and with his $6 million cap hit to expire after next season, the Red Wings must ponder his future. If they don’t want him back, could they send him somewhere else, whether that be now or in-season? Salary retention would likely need to be a consideration, especially if they wanted to move him earlier. That said, their already dicey defense would experience a painful loss if they traded Green.
  • Danny DeKeyser‘s $5 million cap hit through 2021-22 would be very difficult to move. At least he has … some proponents in the organization?
  • Niklas Kronwall‘s been a great solider for DRW, and the positive news is that his $4.75 million cap hit will evaporate after two seasons. Much like Ericsson, health is really hampering what he can do in the present, though.
  • Trevor Daley was just signed this summer. While he brings some strengths to the table, you have to wonder if the 33-year-old will slip enough that the $3.16 million could be an annoyance rather soon.

Forwards

  • Tatar ($5.3 million) becomes the second-highest-paid Red Wings forward behind Henrik Zetterberg, who makes just over $6 million. Zetterberg quietly enjoyed a strong 2016-17, and you can bet that he delivered at far higher a value than $6 million through the earlier years of his contract. Still, he’s 36 and that cap hit runs through 2020-21, the same year Tatar’s ends. Not ideal.
  • That Franzen headache expires after 2019-20.
  • Frans Nielsen is a nice player, and he had a strong debut season for Detroit. Still, he’s somehow already 33 and his $5.25 million cap hit won’t expire until after 2021-22. One would think that, if the Red Wings wanted to move him, now would be one of the better times since his value is probably still reasonably high. Of course, savvy teams will balk at that term. Maybe, like DeKeyser and some other players, the Red Wings would need to move a “problem” (Nielsen’s term) for some other team’s issue.
  • Moving on, there are bit players getting too much. Justin Abdelkader‘s term (2022-23) and $4.25M cap hit give off an albatross vibe. Darren Helm, already 30, at $3.85M per year seems shaky. Even Luke Glendening‘s reasonable but maybe unnecessary $1.8M cap hit argues that Red Wings management might be overvaluing supporting cast members.
  • Then you have young players who may cost more soon. Dylan Larkin and Anthony Mantha could see big jumps with breakthrough contract years as their ELC’s expire. Will Athanasiou be on a shrot deal, too?

Goalies

The netminder situation is pretty cloudy as well.

Jimmy Howard‘s contract is worrisome, although at least that $5.3M only runs through two more seasons. Petr Mrazek‘s a baffling situation, though maybe a team would take him from Detroit if the Red Wings retained some of that $4M? Would that even be a smart move considering Mrazek’s still-considerable potential?

***

Yikes, that entire outlook is almost entirely dismal. It’s not easy to say what the Red Wings should do next, especially if you’re not in the “blow it all up” camp.

(Note: Ken Holland doesn’t seem to be in the “blow it all up” camp.)

* – Of course, he could defy the general odds by having a longer run of prime years.

Marcus Foligno aims for 20 goals in first season with Wild

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ST. PAUL, Minn. (AP) Marcus Foligno has left the leap behind in Buffalo.

That doesn’t mean his offensive production can’t or won’t continue to rise in Minnesota.

Coming off a career-high 13 goals for the Sabres last season, the 25-year-old was acquired by the Wild to bring some needed grit and strength to the left wing position on the third or fourth line. He’s capable of putting the puck in the net, too, though he has so far been more of a sporadic scorer in the NHL.

“Definitely, 20 goals is something I envision myself to reach, and I hope to do that in a Wild jersey,” Foligno said. “Playing with some big centermen, playing on a well-rounded team, I think I can do that. I felt last year that my offensive side was getting there, and I’m looking to improve on that this season.”

Foligno was acquired with right wing Tyler Ennis and a third-round draft pick next year from the Sabres for right wing Jason Pominville and defenseman Marco Scandella, the only significant move made by the Wild this summer. General manager Chuck Fletcher said the day the deal was done he’d been pursuing the 6-foot-3, 230-pound Foligno for two years.

Foligno had his inconsistencies during five-plus seasons in Buffalo, but his 2016-17 performance was promising. He played in a career-most 80 games, with a minus-1 rating and 73 penalty minutes.

“It’s great for the confidence. I think that’s the biggest thing,” Foligno said on Friday, his first appearance in Minnesota since the swap. “You’ve got to realize that Buffalo traded you, but you’re going to a team that really, really wants you and wants you to succeed. I’m put in a great position now.”

Foligno’s family is a small hockey factory . His older brother, Nick, is a 10-year veteran of the league and captain of the Columbus Blue Jackets. His father, Mike, tallied 247 goals over 15 seasons in the NHL, including a full decade with the Sabres. His goal celebration was a two-legged leap straight up in the air from the ice, a signature move that Foligno adopted once he arrived in the league in the same city where his dad’s career took off.

The next time Foligno scores a goal, however, he’ll settle for a simpler move.

“I’ve just got to put the puck in the net and put my hands up. That’s how I’ve got to make sure I do it,” Foligno said. “If I do that 20 times, it’s a good thing.”

More AP NHL coverage: https://apnews.com/tag/NHLhockey