Just when those of us here in the Phoenix area thought the saga of the Phoenix Coyotes ownership was coming to an end, word comes that would-be owner Greg Jamison either never had the funding or couldn’t get his investors to commit to purchase the team – this after a year of work to purchase the team by this group.
And so the four-year melodrama that is the Coyotes ownership marches on with two new investment groups allegedly interested and a Glendale City Council ready to tell anyone looking for a sweetheart deal to pound sand. Because, you know, an 18,000-seat arena with no permanent tenant, no permanent draw, will do wonders for the entire Westgate City Center upon which so much of the city’s financial future is pinned.
Yes, friends, the city council still thinks a dozen ice skating shows or an extra appearance by Transiberian Orchestra will attract the same number of people as even the worst of the Phoenix Coyotes crowds. Brilliant thinking, that.
From the perspective of a humble real estate agent, it’s hard not to wonder just how this can happen?
You can’t purchase a $30,000 condo in the Phoenix real estate market without providing concrete proof of funds. Financing? There needs to be a fairly solid prequal letter in place and presented when the offer is made.
In other words, if you don’t have the money and you can’t get the money, you’re not going to be able to buy.
What applies to real estate, where five to six figures are involved, ought to apply to sports ownership where nine figures are involved, shouldn’t it?
Adding to the sheer joy of it all has been the talk of the arena and Glendale being in the middle of nowhere, this being said primarily by East Valley residents who still refuse to acknowledge there’s life on this side of Central Avenue. Enough already. Get over yourselves.
As you can tell, it’s a day for frustration here in the proverbial shadow of Jobing.Com Arena.
Just don’t let the Coyotes end up in Quebec. That’s about all we can hope for.