Investors in municipal bonds are worried about Glendale’s finances as the Arizona city waits on an owner to buy the Phoenix Coyotes and either keep them in the city-owned Jobing.com Arena or move them to another market.
Dow Jones reports that Glendale was forced to drop the price on $52 million in debt it sold this week, as bond buyers demanded a higher return to compensate for the perceived risk associated with the in-limbo NHL team.
Christopher Ihlefeld, managing director and portfolio manager at Thornburg Investment Management, tells Dow Jones that “the hockey team has been a real drain on resources” for Glendale.
Now, to be fair, the bond yields remain fairly low – “The longest maturity, in 2033, saw yields go from 3.85% initially to 4.05% in a later pricing” – but if the Coyotes end up moving away at the end of the season, what would investors demand then? According to city spokeswoman Julie Frisoni, there are “hundreds of millions of dollars in economic impact the NHL team brings to the entire region.”
Stay tuned to PHT, your home for all the latest news in the fascinating world of municipal bonds. (Or munis, as we call them around here.)
Malkin on ‘workaholic’ Crosby, Penguins’ chances for three Cups in a row
It’s not surprising to see Malkin praise Crosby and pump up the Penguins’ chances. Last year, he showed confidence in Pittsburgh’s repeat chances and professed an interest in being on the same team with Crosby for the next “10 years.”
This summer’s been a great one for Geno, with plenty of team honors mixing with some great individual feats. For example:
Congratulations to Evgeni Malkin for winning the 2017 Kharlamov Trophy (most valuable Russian NHL player). 📷: Malkin's Instagram pic.twitter.com/7gw9ZrzIlf
Montreal Canadiens forward Paul Byron is so speedy on the ice, his skating can sometimes be intimidating, particularly when he’s on the penalty kill.
Every now and then, we’ll see, say, a floppy-haired snowboarder also show some serious skateboarding acumen, and skateboarding seems to blend well with surfing to boot. So what about ice skating and skateboarding?
Taylor Hall deserves credit for that great “lottery ball specialist” tweet when the New Jersey Devils landed the top pick of the 2017 NHL Draft, but you could picture the star winger making such a joke while gritting his teeth.
You see, as much as Hall seems to be a luck rabbit’s foot for a team when it comes to landing the top pick of a draft – just consider his Edmonton Oilers days on top of this last bit – but that good fortune hasn’t always come from an individual standpoint.
Officially adding "NHL lottery ball specialist" to my hockey resume.
In hopes that we may some day see Hall in, say, a playoff game, let’s recount some of his unluckiest moments. Keep in mind that he’s still just 25.
He became the first pick of the 2010 NHL Draft, which means he’ll be compared to Tyler Seguin (though that discussion mercifully doesn’t come up that often).
Hall’s rookie season was limited to 65 regular-season games thanks to the ill-advised decision to fight Derek Dorsett. His first NHL bout ended his 2010-11 campaign; Hall received criticism for the choice, which sometimes overshadowed debuting with 22 goals.
It was reckless to fight, especially with someone like Dorsett, but we’ve seen plenty of players get through skirmishes without anything major happening. Jarome Iginla endeared himself to hockey fans, in some ways, by doing just that … but Hall wasn’t so lucky.
Even if you chalk that first bit up to poor decisions, Hall’s injury luck has often been poor. He was limited to 61 games in his sophomore season, 53 in 2014-15 and missed significant pieces of 2013-14 and last season, too.
Some of the injuries were just downright-freakish.
Click here if you want to remember the time he caught a skate in the head during warm-ups, which left him with a disgusting “Frankenstein” wound and … it’s just gross. If you haven’t seen it, you’re lucky.
While his speedy, courageous style might leave him susceptible to issues, it seems like Hall catches an unusually high number of bad breaks.
Terrible team to bad team
Taylor Hall has been a productive player, keeping his head up even as he’s played for some miserably bad teams.
The Oilers have been pretty clueless for virtually the entirety of Hall’s career; this National Post article provides a handy rundown of their mishaps in rarely finding decent defensemen.
Those struggles likely inspired the team to trade Hall for Adam Larsson, a steady Swedish blueliner.
It says a lot that Oilers fans voted massively in favor of the Oilers winning that trade in at least one poll, as most hockey people agree that the Devils ended up with the upper hand.
He didn’t even get to truly benefit from Connor McDavid‘s presence, as Hall’s bad injury luck seemed to transition to McDavid for a brief spell; as you recall, McDavid’s season was greatly limited by an lucky fall that came from the same sort of driving style you’d expect to see from Hall.
New Jersey is making some nice strides toward being a more competitive team, and Hall’s a big part of that sunnier outlook. It has to sting to take all those steps back to the painfully familiar rebuilding stages after suffering through all of those with the Oilers.
Look, Hall is nicely compensated for his play. He also was the top pick of a draft, so it’s not like he’s totally anonymous.
Still, it’s difficult not to root for the guy to soak in the accolades that come with greater team success, as Hall has been a fantastic power forward in some not-so-fantastic situations.
In other words, here’s hoping a little more luck goes his way … on the ice rather than in the carousel.
To some extent, the New Jersey Devils probably don’t care that much if Nolan Patrick ends up being slightly more effective, overall, than Nico Hischier.
As Taylor Hall can attest, the Devils lucked into the top pick of the 2017 NHL Draft, so GM Ray Shero was probably delighted that he would be able to pick between the two prospects. Rather than choosing Patrick or finding a trade, he made Hischier the first Swiss-born number one pick in NHL history.
Sports are about competition and comparisons, so it should be fun to measure the two forwards’ accomplishments and development as time goes along.
We might as well take hockey fans’ temperature now, though. Before we do, a quick “tale of the tape” – and an apology to the other prospects in the 2017 NHL Draft. For the sake of simplicity, we’ll be keeping this poll to Hischier vs. Patrick. Feel free to make a case for Miro Heiskanen (pictured, chosen third by Dallas) or any number of other candidates in the comments, though.
Hischier (draft profile): Scored 86 points in 57 games for the QMJHL’s Halifax Mooseheads in 2016-17. Broadly speaking, Hischier seems to rate as the most creative player and has already impressed the Devils with his skating ability.
Patrick (draft profile): The Winnipeg native was on the radar a bit longer than Hischier, in part because he managed 102 points in 71 games in the WHL in 2015-16. Last season hurt his stock quite a bit; while he was able to score well over a point-per-game (46 in 33), injuries limited him in 2016-17. Those issues might have limited more than people even realized, as it turns out he needed two hernia surgeries instead of one.
Generally speaking, Patrick is praised for his two-way play, which could help him be a quick fit for Philly. Both forwards are listed as centers.