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Latest Yotes Stumbling Block Pushing Doan to Exit Door |
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Do you remember those old Battle of the Network Stars shows where the participants would run a ridiculous obstacle course to the finish line? That has sort of been what the Greg Jamison group's pursuit of purchasing the Phoenix Coyotes has been like.
Their ownership plan has won support from the NHL' Board of Governors. They have navigated the lease negotiations for Jobing.com Arena. They've even dodged a tax bond question and avoided a potential public referendum on the arena lease in the November ballot.
Unfortunately, right now, Jamison is having trouble scaling the big wall on the obstacle course. His group is still a reported $20 million short of meeting the purchase price for the team, which would set the final wheels in motion to get the sale approved and transfer ownership of the Coyotes from the league to Jamison's group.
Jamison is still in the process of seeking additional partners to invest the needed $20 million to meet the purchase price. The NHL will not lower the $170 million purchase price at all; in part because they want to ensure that the purchasers have the financial stability and commitment necessary to operate a team.
It is going to take time to raise the necessary money.
Meanwhile, Coyotes captain Shane Doan has already exhibited a remarkable degree of patience and loyalty to the only organization he has played for in his professional career. Even while listening to offers from other teams (including visits to the Rangers and Flyers), he has made it crystal clear that he wants to remain in Phoenix if at all possible.
Unfortunately, it is starting to look like the Coyotes ownership situation will not be resolved soon enough for the player to feel comfortable that the team will not be forced to re-locate when all is said and done. For the first time, it looks like the odds of Doan signing elsewhere have become better than 50-50: perhaps even well beyond 50-50 that he leaves Phoenix.
Much has been made about the Doan camp's demand for a four-year, $30 million contract if he goes elsewhere. Obviously, he is not worth THAT kind of money, even with the tangible and intangible assets the 36-year-old brings to any team. Even so, with so many contending teams coveting his services -- including three Atlantic Division clubs alone -- Doan is going to get an eyepopping payday when all is said and not.
The risks of over-35 contracts are well known, especially the fact that the team is stuck with the cap hit for the duration of the contract, even if the player is forced to retire due to injury or other reasons. In Doan's case, teams will not be scared off by the fact he'd be on an over-35 contract. First of all, Doan is a special player, and keeps himself in great shape. He's always shown a high degree of durability, and that's unlikely to change in the next few years.
Secondly, there is also some room for creativity with an over-35 contract in terms of incentives. If there's a bonus cushion re-implemented in the next Collective Bargaining Agreement or some other mechanism to mitigate the potential full cap hit of an over-35 player, Doan's contract may not be such a potential albatross if he were to get injured or otherwise decline.
I do not know Doan personally, but I know several former teammates and other hockey people who are close with him. To a man, they all say that Doan may be the LEAST money-driven player in hockey. If things work out in Phoenix, he will take the best deal he can get to finish his career as a Coyote. Even if he goes elsewhere, money will not be the deciding factor in his decision. That's why I really don't think that four-year, $30 million "demand" is set in stone. He'll get a lot of money wherever he goes.
Right now, the possibilities for Doan are numerous. Teams are still willing to wait a little longer for him to make up his mind about remaining with the Coyotes. However, barring a sudden windfall of money for the Jamison group to complete the purchase of the team, it seems like the captain may finally have to put his own needs and own timetable first.
I'd still put the Rangers as the front-runners to land Doan if he decides that his only viable option is to re-locate from Phoenix. Nevertheless, don't count out Pittsburgh, Los Angeles, Montreal, San Jose, Philadelphia, Detroit or Buffalo. They are ALL involved to varying degrees, and will go full speed ahead if and when the Doan camp gives them the signal.
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