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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.

Video: Drouin equalizes, but Rust strikes again 30 seconds later

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Bryan Rust is really having himself a series.

After opening the scoring in Game 7 of the Eastern Conference Final, Rust took matters into his own hands after Jonathan Drouin evened the score for Tampa Bay, notching his second goal of the game — just 30 seconds after Drouin scored — to put Pittsburgh back out in front, 2-1.

Before digging into the Rust goal (posted above), let’s take a moment to appreciate Drouin’s snipe, one that whizzed by Pittsburgh netminder Matt Murray:

Now, back to Rust.

With that second goal he’s now racked up eight points for the playoffs, just three back of the 11 he put up over the course of the entire regular season. The former Notre Dame standout has become a major storyline, and now sits tied with Patric Hornqvist for the team lead in even-strength playoff goals.

Not bad for a guy that spent a fair chunk of the year in Wilkes-Barre/Scranton, eh?

Video: Rust opens scoring in Game 7

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What an Eastern Conference Final for Bryan Rust.

Rust scored his second goal of the series — and third point in as many games — to open the scoring on Friday night, giving the Penguins a 1-0 lead over the Lighting at Consol.

After scoring just 11 points during the regular season, Rust — in just his second season at the NHL level — now has seven points in 16 playoff games, and has emerged as a vital bottom-six contributor in the process.

Chris Kunitz and Evgeni Malkin notched assists on Rust’s goal, which came early in the second period. The Pens out-shot the Bolts 8-5 in the first period, but were unable to get one past Andrei Vasilevskiy.

Oh, and speaking of Kunitz, he’s also produced extremely well in this series — he now has six points in his last five games.

Shock of Lightning: Stamkos will play

Steven Stamkos
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He’s in.

As if Game 7 of the Eastern Conference Final couldn’t get any more dramatic, it has — Tampa Bay captain Steve Stamkos, who hasn’t played since Mar. 31, will make his playoff debut against the Penguins tonight.

Stamkos underwent vascular surgery in early April to correct a blood clotting issue, and has remained on blood thinners ever since. While there’s been no confirmation he’s off medication, he did tell Sportsnet he’d be able to return to the lineup once he was.

More:

Stamkos reiterated that he’s still on the same prescription of blood thinners he was given earlier this month. He takes a 12-hour dosage, twice a day, and it has been suggested to him that once he is cleared to stop taking the medication, Stamkos conceivably could return to the Lightning lineup almost immediately.

That’s why I’m trying to stay in shape,” he said.

Per NHL.com, Stamkos took the warmup and participated in line rushes centering Ondrej Palat and Ryan Callahan.

It’s been exactly eight weeks since Stamkos played his last game. At the time of his diagnosis, the Lightning said his timetable for recovery was 1-3 months.

To say his return will be a boost is a major understatement. Aside from the emotional factor, Stamkos led the Bolts in goals this year, with 36, and would presumably spark a power play that’s gone just 2-for-12 in the series.

 

Drama builds as Stamkos takes Game 7 warmup

NEWARK, NJ - FEBRUARY 26:  Steven Stamkos #91 of the Tampa Bay Lightning skates against the New Jersey Devils at the Prudential Center on February 26, 2016 in Newark, New Jersey. The Lightning shutout the Devils 4-0.  (Photo by Bruce Bennett/Getty Images)
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Steve Stamkos took the team bus to tonight’s Eastern Conference Game 7 in Pittsburgh. As TVA noted, it was the first time he’s arrived early for a game in these playoffs.

In his pregame presser, Bolts head coach Jon Cooper refused to answer any questions about Stamkos’ availability.

And then Stamkos took the warmup.

As such, the drama surrounding Tampa Bay’s captain has reached an all-time high. Stamkos, who’s been out of the lineup since early April due to blood clots, looks as though he’s on the verge of an emotional comeback as the Lightning try to win an ECF Game 7 — on the road — for a second consecutive season.

“If Stamkos is in the lineup, it’s our best foot forward,” Cooper said. “If he’s not in the lineup, it’s because he wasn’t eligible to play.”

No word if No. 91 is still on the blood thinning medication he’s been taking since undergoing vascular surgery on Apr. 4.

Stay tuned…