When it comes to fiscal responsibility, you will never hear anyone defending the need for sound economic measures and private employment as loudly as a conservative. Not to get overtly political this early in the morning, but those situated on the right have historically championed community-based business and have sternly promoted the vivacity of entrepreneurship.
Why, then, does the Goldwater Institute (GWI) seem absolutely intent on shipping the Coyotes out of Phoenix? It doesn’t make much sense; it certainly goes against the grain of fiscal conservatism to push for a jobs machine to leave.
The saga is thick and seemingly never-ending, but the gist of it is that GWI is upping the pressure in threats to sue the city of Glendale if Mayor Elaine Scruggs goes through with the bond sales to assist a Chicago businessman who would essentially buy the team and leave the Coyotes playing in Glendale for the next thirty years.
If the Coyotes leave and the NHL throws them back up over our northern border, the city is looking at a reported financial loss of over $500 million. Five-hundred-million. $500,000,000!
That’s scenario one. Scenario two: GWI’s tampering with the sale of the bonds has caused them to almost double in price, making the charge around $200,000,000 to the taxpayers if they insist on being insistent.
Regardless of how things turn out, this supposedly fiscally-sound taxpayer watchdog organization has cost the taxpayers at least $100 million; and if they continue to do what they’re doing and bust the sale, they’re costing exponentially more.
With friends like this, who the heck needs enemies?
Some claim that GWI is only bluffing and will not sue the city for the “Gifts Clause” transgression. But if that were the case, which many are hoping it is, of course, GWI would have simmered down a tad by now. They have not – they’re pressing forward with gusto.
Practically speaking, what are the odds of the Goldwater Institute actually getting out of the way and allowing the city to save their hockey franchise and thus keep some semblance of economic standing?
Well, we’re not talking about basic odds here. This isn’t sports-betting and the sure the heck isn’t online casino games. The implications are real and real damaging for residents of the area who rely on and love this franchise.
In fact, the need and love the city has for its franchise is the factor boding the best for the Coyotes. With the overwhelming support being showed, rumors are that top advisors are suggesting GWI back down and to stop pressing so hard for the sale to fall through.
Another factor boding well for ‘Yotes fans is that Arizona is already a hotbed of national controversy, with the “right” bearing a lot of the brunt for its difficulties. GWI really doesn’t need this to break nationally and have its efforts backfire as an attempt to stifle economic growth.
To put a guess on it, which unfortunately is all anyone can do, the odds suggest that GWI really is bluffing and should relent in its pressures in the coming weeks to ultimately allow the sale to happen.
Since we’re all about gambling, though, we’ll put a number on it. We’ll say that it’s 2:1—even money—that GWI backs off and shows its cards. And if the top US online casinos and sports books kept these kinds of numbers, you would be able to make a pretty penny in the process.
The odds are still pretty good that GWI will eventually sue. The institute seems to have some type of perverted need to stay relevant in a dwindling market which would forget about its existence if not for situations like these. So after the sale goes through—assuming, of course—and the waters die down, don’t be surprised to hear breaking news about GWI pushing to sue the city in a political move that will promote one of its preferred candidates over the non-partisan Scruggs when the cycle comes back around.
The best news is that the NHL is basically indifferent at this point. They’re exhausted from exhausting and would rather the sale be finalized to get things over with so they can prepare for the hot-push of media for the Stanley Cup Playoffs as an organization.
Eventually, we have a good feeling that Coyotes fans and the citizens of the area will be pleased with the outcome. It’s a shame the fight has carried on this long, but sanity should prevail and Glendale should be able to keep pace competitively in the economy.
Thank you for your support and insights!