It seems like there are a million variables when it comes to the ownership situation in Arizona. Is Matthew Hulsizer willing to do what it takes to buy the team and keep them in the desert? Will the Goldwater Institute sue the City of Glendale the minute the deal is about to go through? But the most important question of the moment is whether the city will be able to sell all of the necessary bonds to make the sale a possibility. Because no matter what watchdog groups or taxpayers say, if the bonds aren’t sold, then the deal will never happen.
The news out of Glendale is they are halfway there.
According to reports, half the city has investors lined up and willing to pay for $50 million worth of the sales bonds. Under the framework agreement for the sale, Hulsizer and the City of Glendale have agreed to sell $100 million in bonds to help the Chicago businessman purchase the NHL team and keep them in Jobing.com Arena. Once all $100 million worth of bonds have been sold to investors, then we’ll see if the Goldwater Institute will follow through on their promise to sue to block the sale. The City of Glendale and their spokeswoman do not seem concerned (from the Phoenix Business Journal):
“…the city believes the bond deal and a $97 million arena management outlay to Hulsizer are legal, and several legal opinions are in agreement. ‘You’ve got one entity who says it’s not.’ Frisoni said.
Depending on how you look at it, the sale of bonds is either one of the last steps in this process or it’s only the first. Some people will say this story that began with Jerry Moyes, Jim Balsillie, and bankruptcy court is nearing an end with every additional investor who agrees to purchase the bonds. On the other hand, some will say this is only the first step in the actual sale of the team. Everything before the bond sales were just preliminary agreements—the sale of bonds are where we find out if it’s is really fiscally possible to make the numbers work in Phoenix.
We’ve found that half of the bonds fairly quickly—but like everyone says, the first $50 million is always the easiest.
Here’s your Stanley Cup playoffs schedule for tonight
People love star athletes because they can do amazing things. Even so, people also often love to see the occasional moment of weakness.
Aside from the occasional injury hiccup, Sidney Crosby‘s been as advertised after being a super-hyped No. 1 overall pick. He has that “Golden Goal,” two Olympic gold medals, a Stanley Cup ring and plenty of individual accolades.
Not many people expected the Capitals-Penguins series to be over in five games, but there’s a chance that could happen before the end of the week. After their 3-2 overtime loss to the Pittsburgh on Wednesday night, the Capitals are one loss away from being bounced from the 2016 playoffs.
The Capitals failed to take advantage of the fact that Kris Letang was suspended for Game 4 because of his hit on Marcus Johansson in Game 3. Letang is now set to return for Game 5 which makes Washington’s task even more difficult.
“We didn’t take advantage of it,” Capitals coach Barry Trotz said, per NHL.com. “One thing I said to the guys coming into this, and we talked it about it yesterday, was when Kris got his suspension, is that they’re going to rally. Their whole team, their forwards are going to come back. They talked about they didn’t play their best game (in Game 3) and now they have Letang out and everybody had to step up on their side, and I thought they did.”
If you look back at the regular season, the Capitals were head and shoulders above the rest of the Eastern Conference and the league for a good portion of the season. Washington finished 11 points ahead of second place Dallas in the league standings and it looked like they had the team that would finally take them over the hump.
Although things look gloomy, it’s important to realize that the series is far from over. Many NHLers would tell you that the fourth win is always the hardest to come by in a best-of-seven series, and by no means is anyone expecting the Capitals to wave the white flag.
“Whenever you lose a game, it’s obviously an opportunity missed, but it had nothing to do with them missing some of their players,” said Caps forward Jay Beagle, per NHL.com. “We’re looking forward. Our back’s against the wall and the most important game of our lives is coming up.”
Game 5 goes Saturday night in Washington.
PHT Morning Skate: Shane Doan takes a (friendly) shot at the Miracle on Ice