Updated Jul 11, 2011 - 3:02 pm
Don't believe everything you read about Hulsizer and the Phoenix Coyotes
A few things have become clear over the years when it comes to the Phoenix Coyotes ownership saga. Like being engaged, nothing is official until the contract is signed, and you can't trust much of what is coming from the Canadian media.
Today's source of misinformation comes courtesy of a usual suspect, David Shoalts of the Globe and Mail. He claims that Matthew Hulsizer attempted to purchase all the bonds required in the sale of the team to him.
By the way, a source said in the last few days before he pulled out, Hulsizer offered to buy the municipal bonds that were the most contentious issue in the sale. The bond sale was supposed to provide a $100-million up-front payment to Hulsizer, who was to provide the other $70-million to meet the NHL's asking price of $170-million.
Sources have told me that the only way Hulsizer could get a deal done was with that bond money. It's hard to believe, regardless of what Shoalts' sources are telling him, that he would have had the capital to purchase the bonds. Even if he did, there are questions about the legality of that as well.
While Hulsizer seemed like a match made in heaven, like in any relationship, it's the things you don't know about that are the deal breakers. It seems there is a lot that we don't know about the negotiations between the Chicago businessman, the NHL and the City of Glendale.
One thing is clear, whenever a deal to purchase the Coyotes is completed, it won't involve any bond money at all.
- Three multi-point performances pace Coyotes to win over Islanders
- 'Yotes Notes: Phoenix ends three-game home losing streak with win over Islanders
- Tippett: Outdoor game in Phoenix would be 'great for our city'
- Coyotes coach Tippett: Backup G Thomas Greiss has 'earned the confidence of his teammates'
- 'Yotes Notes: Vermette celebrates big night with two-goal performance in win over Colorado
- Antoine Vermette, Coyotes Center - Wednesday December 11Antoine Vermette discusses his two-goal performance against the Avalanche Tuesday.
- Dave Tippett, Coyotes head coach - Wednesday December 11The Yotes grabbed a solid bounce back win over the Avalanche.
- Mike Ribeiro, Phoenix Coyotes center - Thursday December 5The biggest takeaways from Wednesday night's game against Calgary.
- Dave Tippett, Coyotes head coach - Thursday December 5Tippett discussed goalie Mike Smith's inconsistency.
- Don Maloney, Phoenix Coyotes GM - Wednesday December 4How were the Coyotes able to get back on track? Can they build off of this win?