Diamondback Jay
Psalms 23:1
COYOTES ANNOUNCE NEW OWNERSHIP STRUCTURE
NEW OWNERSHIP STRUCTURE ANNOUNCED FOR PHOENIX COYOTES AND WESTGATE CITY CENTER
Jerry Moyes & Steve Ellman
Reach Agreement
Jerry Moyes and Steve Ellman announced an agreement today that will secure the future of four of Arizona’s signature assets – the Phoenix Coyotes, Glendale Arena, Arizona Sting and the Westgate City Center. The agreement calls for Moyes to assume majority ownership control of the Phoenix Coyotes National Hockey League (NHL) franchise, the highly successful Glendale Arena and the Arizona Sting of the National Lacrosse League. Ellman and his development team will assume majority ownership control of the landmark 223-acre – 6.5 million square foot Westgate City Center development that is scheduled for a Phase One grand opening later this year. Hockey legend and Coyotes Managing Partner and Head Coach Wayne Gretzky will retain his ownership interest in both ventures. The deal is expected to be formally completed in the coming weeks.
Jerry Moyes is no stranger to the Arizona sports scene with previous ownership stakes in the Phoenix Suns and the Arizona Diamondbacks. Mr. Moyes stated, “I am making a full time commitment to the Coyotes organization and the continued success of the Glendale Arena and am very excited to have the opportunity to bring a Stanley Cup Championship to the best fans in hockey. We have one of the finest executive staffs in professional sports put in place by Steve Ellman and Wayne Gretzky. General Manager Michael Barnett and club President Doug Moss have done an outstanding job in helping to build a solid foundation and a first class operation. I have full confidence in the direction that has been set by these premier professionals.”
The club also announced the appointment of Arizona native Jeff Shumway as the new CEO of the Phoenix Coyotes, effective immediately.
Moyes went on to state, “I am also pleased with the appointment of Jeff Shumway as the new team and arena CEO. Mr. Shumway has the right educational and business background to provide the leadership we need to make our team successful and our arena fan experience second to none.”
Regarding Shumway, Ellman stated, “I have worked with Jeff over the past several years and believe that he is an exceptional choice as my replacement. His relationship with Wayne Gretzky, Doug Moss, Mike Barnett and Coyotes senior staff is excellent. In Jeff Shumway, Jerry has selected the right person to lead the organization.”
Steve Ellman, reflecting on his tenure with the Coyotes and the Glendale Arena, stated, “Our goal in 2001 was, first and foremost, to secure the future of NHL hockey in Arizona. We did that by joining forces with Wayne Gretzky and by assembling one of the finest executive staffs in professional sports. In partnership with the City of Glendale, we also built a world class arena that, since opening night in 2003, has had a stunning run of successes, including concerts featuring Paul McCartney, The Rolling Stones, U2 and the Eagles. With these missions accomplished and these successes behind us, it’s now time for The Ellman Companies to focus full attention on completing our exciting Westgate City Center project and to refocus our company’s energies on the core business of creating special and innovative real estate developments. The Coyotes relocation to the Glendale Arena has sparked nearly $1 billion of public and private investment in Glendale. As recent news articles have reported, we have many exciting things happening at Westgate. We expect to make more Westgate announcements in the weeks ahead.”
Phoenix Coyotes Managing Partner and Head Coach Wayne Gretzky stated, “This franchise would not be in Phoenix nor would we be playing in perhaps the finest venue in the NHL if it wasn’t for the leadership of Jerry Moyes and Steve Ellman. In fact, I wouldn’t be here in Phoenix if it were not for these two gentlemen. The Glendale Arena is now considered one of the premier concert and hockey venues in the world. In 2008, the Super Bowl will be coming to Glendale as well. These are truly remarkable accomplishments by the City of Glendale and everyone involved. This new agreement between Jerry and Steve represents the best of both worlds and will allow all parties to best capitalize on the extraordinary opportunities before us.”
The announced transfer of the Coyotes is subject to approval by the NHL’s Board of Governors. Pending approval, Ellman will continue to serve as Coyotes Chairman and Governor. Mr. Shumway will thereafter succeed Mr. Ellman as club Chairman and Governor.
New CEO Jeff Shumway stated, “I take very seriously the confidence that Jerry Moyes has placed with me. My job is to assist our premier hockey management team of Wayne Gretzky, Michael Barnett and Doug Moss in accomplishing our collective vision for a Stanley Cup Championship and assuring a second-to-none entertainment experience for all of our fans and customers at the Glendale Arena. I also want to acknowledge Steve Ellman and sincerely thank him for all that he has done for the hockey club, for the arena and for the community.”
Steve Ellman concluded by saying, “Over the years Jerry has been an incredible partner. I can’t thank him enough for his support, and I look forward to continuing to build on this relationship and to enhance the extraordinary synergies between the Coyotes, the Glendale Arena, Westgate City Center and the City of Glendale for many years to come.”
In 2004, the $213 million Glendale Arena was recognized by Pollstar Magazine as “The Best New Concert Venue in North America” and in Pollstar ranked the Glendale Arena #54 in the “World’s Top 100 Venues for 2005.” In 2005, Venues Today Magazine ranked Glendale Arena as the “#18 Top Selling Arena in the World” and also in 2005 Phoenix Magazine ranked Glendale Arena the “Best Indoor Concert Venue”.
Westgate City Center’s 508,000 square foot Phase One is currently under construction, with ten buildings, including the AMC Cineplex 4,000 seat flagship movie theater, scheduled to open later this year. Additionally, Westgate City Center’s 320-room Renaissance hotel and 80,000 square foot conference center adjacent to the arena are under construction with a planned opening in mid-2007. In addition to Phase One, the movie theater and the hotel and conference center, Trammell Crow Residential recently started construction of two signature Westgate residential developments, The Quarter, featuring 171 upscale townhomes, and Alexan, a 251 unit luxury apartment complex. Future phases of Westgate will include additional office, retail, hotel and residential components. Upon completion, Westgate City Center is projected to attract 22 million visitors annually, with 6.5 million square feet of retail, entertainment, restaurants, office, residential and hotels.
NEW OWNERSHIP STRUCTURE ANNOUNCED FOR PHOENIX COYOTES AND WESTGATE CITY CENTER
Jerry Moyes & Steve Ellman
Reach Agreement
Jerry Moyes and Steve Ellman announced an agreement today that will secure the future of four of Arizona’s signature assets – the Phoenix Coyotes, Glendale Arena, Arizona Sting and the Westgate City Center. The agreement calls for Moyes to assume majority ownership control of the Phoenix Coyotes National Hockey League (NHL) franchise, the highly successful Glendale Arena and the Arizona Sting of the National Lacrosse League. Ellman and his development team will assume majority ownership control of the landmark 223-acre – 6.5 million square foot Westgate City Center development that is scheduled for a Phase One grand opening later this year. Hockey legend and Coyotes Managing Partner and Head Coach Wayne Gretzky will retain his ownership interest in both ventures. The deal is expected to be formally completed in the coming weeks.
Jerry Moyes is no stranger to the Arizona sports scene with previous ownership stakes in the Phoenix Suns and the Arizona Diamondbacks. Mr. Moyes stated, “I am making a full time commitment to the Coyotes organization and the continued success of the Glendale Arena and am very excited to have the opportunity to bring a Stanley Cup Championship to the best fans in hockey. We have one of the finest executive staffs in professional sports put in place by Steve Ellman and Wayne Gretzky. General Manager Michael Barnett and club President Doug Moss have done an outstanding job in helping to build a solid foundation and a first class operation. I have full confidence in the direction that has been set by these premier professionals.”
The club also announced the appointment of Arizona native Jeff Shumway as the new CEO of the Phoenix Coyotes, effective immediately.
Moyes went on to state, “I am also pleased with the appointment of Jeff Shumway as the new team and arena CEO. Mr. Shumway has the right educational and business background to provide the leadership we need to make our team successful and our arena fan experience second to none.”
Regarding Shumway, Ellman stated, “I have worked with Jeff over the past several years and believe that he is an exceptional choice as my replacement. His relationship with Wayne Gretzky, Doug Moss, Mike Barnett and Coyotes senior staff is excellent. In Jeff Shumway, Jerry has selected the right person to lead the organization.”
Steve Ellman, reflecting on his tenure with the Coyotes and the Glendale Arena, stated, “Our goal in 2001 was, first and foremost, to secure the future of NHL hockey in Arizona. We did that by joining forces with Wayne Gretzky and by assembling one of the finest executive staffs in professional sports. In partnership with the City of Glendale, we also built a world class arena that, since opening night in 2003, has had a stunning run of successes, including concerts featuring Paul McCartney, The Rolling Stones, U2 and the Eagles. With these missions accomplished and these successes behind us, it’s now time for The Ellman Companies to focus full attention on completing our exciting Westgate City Center project and to refocus our company’s energies on the core business of creating special and innovative real estate developments. The Coyotes relocation to the Glendale Arena has sparked nearly $1 billion of public and private investment in Glendale. As recent news articles have reported, we have many exciting things happening at Westgate. We expect to make more Westgate announcements in the weeks ahead.”
Phoenix Coyotes Managing Partner and Head Coach Wayne Gretzky stated, “This franchise would not be in Phoenix nor would we be playing in perhaps the finest venue in the NHL if it wasn’t for the leadership of Jerry Moyes and Steve Ellman. In fact, I wouldn’t be here in Phoenix if it were not for these two gentlemen. The Glendale Arena is now considered one of the premier concert and hockey venues in the world. In 2008, the Super Bowl will be coming to Glendale as well. These are truly remarkable accomplishments by the City of Glendale and everyone involved. This new agreement between Jerry and Steve represents the best of both worlds and will allow all parties to best capitalize on the extraordinary opportunities before us.”
The announced transfer of the Coyotes is subject to approval by the NHL’s Board of Governors. Pending approval, Ellman will continue to serve as Coyotes Chairman and Governor. Mr. Shumway will thereafter succeed Mr. Ellman as club Chairman and Governor.
New CEO Jeff Shumway stated, “I take very seriously the confidence that Jerry Moyes has placed with me. My job is to assist our premier hockey management team of Wayne Gretzky, Michael Barnett and Doug Moss in accomplishing our collective vision for a Stanley Cup Championship and assuring a second-to-none entertainment experience for all of our fans and customers at the Glendale Arena. I also want to acknowledge Steve Ellman and sincerely thank him for all that he has done for the hockey club, for the arena and for the community.”
Steve Ellman concluded by saying, “Over the years Jerry has been an incredible partner. I can’t thank him enough for his support, and I look forward to continuing to build on this relationship and to enhance the extraordinary synergies between the Coyotes, the Glendale Arena, Westgate City Center and the City of Glendale for many years to come.”
In 2004, the $213 million Glendale Arena was recognized by Pollstar Magazine as “The Best New Concert Venue in North America” and in Pollstar ranked the Glendale Arena #54 in the “World’s Top 100 Venues for 2005.” In 2005, Venues Today Magazine ranked Glendale Arena as the “#18 Top Selling Arena in the World” and also in 2005 Phoenix Magazine ranked Glendale Arena the “Best Indoor Concert Venue”.
Westgate City Center’s 508,000 square foot Phase One is currently under construction, with ten buildings, including the AMC Cineplex 4,000 seat flagship movie theater, scheduled to open later this year. Additionally, Westgate City Center’s 320-room Renaissance hotel and 80,000 square foot conference center adjacent to the arena are under construction with a planned opening in mid-2007. In addition to Phase One, the movie theater and the hotel and conference center, Trammell Crow Residential recently started construction of two signature Westgate residential developments, The Quarter, featuring 171 upscale townhomes, and Alexan, a 251 unit luxury apartment complex. Future phases of Westgate will include additional office, retail, hotel and residential components. Upon completion, Westgate City Center is projected to attract 22 million visitors annually, with 6.5 million square feet of retail, entertainment, restaurants, office, residential and hotels.
