NHL Morning Coffee Headlines – July 18, 2018

by | Jul 18, 2018 | News, NHL | 13 comments

Coyotes owner looking to sell a portion of the franchise, an update on Tom Wilson plus the latest contract signings and more in your NHL morning coffee headlines.

FORBES.COM: Mike Ozanian reports multiple sources claim Arizona Coyotes owner Andrew Barroway is looking to sell 49 percent of the franchise for an estimated $500 million. That figure includes “working capital to cover current losses as well as capital calls (money investors put into the team in subsequent years to cover operating losses).” Ozanian cites one source suggested the deal was “being presented would give the new investor a path towards control, if not immediate control” of the money-losing franchise.

SPECTOR’S NOTE: In Forbes’ annual evaluation of NHL franchises, the Coyotes were estimated to be worth $300 million last year. Ozanian said we should be skeptical if this deal is announced as $500 million as that’s not “a true sale price in the sense of an enterprise value.”

I’m doubtful Barroway will get $500 million for 49 percent of a franchise that’s been bleeding money for years. Then again, the Coyotes have proven to have more lives than a cat. Maybe he can find a new co-owner who can one day become majority owner. 

Contract negotiations are ongoing between the Washington Capitals and free-agent winger Tom Wilson (Photo via NHL Images)

  THE WASHINGTON POST: Contract negotiations between the Capitals and restricted free agent winger Tom Wilson are ongoing but his agent claims they’re not close yet to a deal. Wilson passed on salary arbitration so it’s unclear how long talks could drag on.

The Capitals have roughly $8.2 million in cap space. Some have estimated Wilson’s new deal could come in between $3.5 – $4.5 million per season.

SPORTSNET: The New York Rangers avoided salary arbitration with winger Jimmy Vesey as he agreed to a two-year contract. The Rangers also hired David Oliver and Greg Brown as assistant coaches.

SPECTOR’S NOTE:  As per Cap Friendly, Vesey’s deal is worth $4.55 million with an annual salary-cap hit of $2.275 million. 

NEWSDAY: The New York Islanders and defenseman Ryan Pulock have agreed to a two-year contract.

SPECTOR’S NOTE: Cap Friendly reports the new deal is worth $4 million, with an annual average value of $2 million. 

NORTHJERSEY.COM: The New Jersey Devils re-signed forward Blake Coleman to a three-year contract worth an annual average value of $1.8 million and forward Stefan Noesen to a one-year, $1.725-million deal.

LAS VEGAS REVIEW-JOURNAL: The Vegas Golden Knights and Tomas Nosek avoided arbitration as he agreed to a one-year, $963K contract.

THE NEWS & OBSERVER: The Carolina Hurricanes have hired Dean Chynoweth as an assistant coach.

TVA SPORTS: After a decade in the NHL, free-agent forward Torrey Mitchell is joining Lausanne of the Swiss National League A.

 

 








13 Comments

  1. Maybe it’s simply time for the NHL to give up on trying to have a market in Arizona and let the team move to San Diego, Kansas City, Sacramento or another western market.

    • Hi Paul

      I agree with any move — absolutely any move— from Arz.

      I see you’ve chosen those cities to keep the EW balance (with Seattle coming in)— logical and concur.

      SD is a very big city— not sure why there has not been and effort to market hockey there before

      However, IMO– for the league— the best financial move instead of those cities is to move franchise to Que— Que already to house new team. The arena is beautiful (great site lines). Que will immediately sell out for 4 years at higher ticket prices (than at any of those cities) and have substantially more after market sales (sweaters, caps , swag) than all of those three individually and likely a total potential swag/sweaters/caps/etc. of greater than the 3 cities combined.

      Immediately turning a rev draw (from NHL rev sharing) of a substantial amount— to a Rev contributor of at the very minumum $60M— the swing in rev draw to rev contributor would be at a min increase to League revs of $80M.

      Put Coyotes in the GTA– and wow— throw in an additional $20M – $40M on top of that.

      There is no chance this franchise is moving though — Gary Bettman would rather continue to have league revenues suffer and a draw on NHL revenues— with absolutely no turn around in sight— than to admit he was wrong

      I know that most people believe this is a governors (overall) decision to keep in Ariz— officially yes— in reality— IMHO this is a political decision made by one person only– he pulls in all his political chips each decision time w.r.t. Arizona … move not happening

      As an aside— when Seattle comes in… they won’t stick with 9 on the West Coast and 7 in the Central.

      Vanc and the Cal teams will stay in the Div for sure and they are not going to move one of Alta teams to another Div and keep the other in existing Div.

      That leaves Coyotes and Knights— Knights further west than LV…. so it should be Coyotes moving to the Central— which will crimp their budget more and will almost definitely ensure another 5+ years of missing the playoffs IMO

      • Houston.

      • Quebec has a team and it had to move due to lack of support. I don’t ever see the NHL agreeing to put another team there. And, sooner or later, simple finances are going to dictate the Coyotes moving. No business can take the losses that team does for decades and be viable. Whatever Bettman wants, the Coyotes are either going to fold or move.

      • Quebec didn’t move for lack of fan support and the team never lost money in its existence. Check the wikipedia page (https://en.wikipedia.org/wiki/Quebec_Nordiques#NHL_era) which covers their story well. Would love to see a team there again (they were my favourite team!), though the market is small (but rabid about hockey)…

      • Did you actually read that page? Here’s a line copy-and-pasted directly from it: The playoff loss proved to be the Nordiques’ swan song in the NHL as the team’s financial troubles increasingly took centre stage, even in the face of renewed fan support over the previous three years.
        And more: The Nordiques felt the difficulties more than the league’s other Canadian teams. Quebec City was the smallest market in the NHL, and the second-smallest market to host a team in the four major sports. Only Green Bay, Wisconsin; home of the NFL Green Bay Packers, was smaller. However, the Nordiques didn’t have a nearby major market on which to draw support, as the Packers do with Milwaukee. As a result, the Nordiques “would always play second fiddle to the Montreal Canadiens in the province of Quebec…[and] too far away from Montreal to tap into their fanbase”. While the Nordiques had a fairly loyal fan base, it was not enough for them to be viable in the league’s changing economic environment, which required a larger media market.
        And finally: Finally in May 1995, shortly after the Nordiques were eliminated from the playoffs, Aubut announced that he had no other choice but to accept an offer from COMSAT Entertainment Group, owner of the National Basketball Association’s Denver Nuggets. COMSAT moved the team to Denver where it was renamed the Colorado Avalanche. Though the Nordiques franchise and Aubut never lost money, Aubut feared losing money after the new NHL collective bargaining agreement did not include a salary cap.
        So, yes, Quebec lost their team due to finances. Just as Arizona will, eventually, lose it’s team.

      • Yes, but notice that “Aubut feared losing money after the new NHL collective bargaining agreement did not include a salary cap”. As we all know, today the NHL does include a salary cap, so the situation is different than when the Nordiques moved.

      • Do you really want to get technical? Okay, let’s get technical. The Nordiques were not Ottawa’s first team. The Ottawa Bulldogs were one of the founding teams of the NHL. They all but folded, moving to Hamilton to become the Tigers. The reason? Not making enough money. Because, then as now, Ottawa is the smallest Canadian hockey market by population. In fact, in all North American professional sports, only the Green Bay Packers play in a smaller market. However, Green Bay has the nearby large market of Milwaukee from which to draw fans, Ottawa has no such large market to draw from. Which is the reason both Ottawa teams were forced to move. Think logically. After having two franchises leave Ottawa due to lack of financial support and with major cities such as Seattle, San Diego, Houston and Kansas City lacking teams, just how likely is it that Ottawa will be granted a third attempt to field an NHL team?

      • Ummm…maybe I’m being too technical, but Ottawa and Quebec are not the same city. And using your logic, why should Kansas City get a second chance? Didn’t work for Atlanta either…

  2. No Panarin news today, but I did think of one possible trade scenario where the Jackets could trade him without taking too big of a step back in the standings…

    Panarin to CAR for Skinner and a pick with CAR then flipping him to SJ, NJ, NYI or NYR.

    Unless they can get back a young impact top 6 player in the deal, the Jackets should rebuild. Getting Skinner would allow them to continue on their current course.

    • I’ll agree with the first part – Skinner+ for Panarin. However, if that were done, I don’t see any reason for the Hurricanes to flip him to another team. He would be way too useful in CAR. Maybe they’d flip him at the trade deadline, if yet another season goes off the rails, but I don’t see any reason not to keep Panarin in CAR until then.

      • And as I’ve repeatedly said, I just don’t see Panarin being traded to any team in the Eastern Conference unless it’s a “you’d be a fool to turn it down” offer. Skinner and a pick is not such an offer.

  3. 500 million for 50% of a business worth 300 million total? Good luck with that! A billion dollar valuation is a bit of a stretch to say the least!