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08-04-2009, 06:33 AM
Join Date: Oct 2003
Country: Canada
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Originally Posted by GHOSTofMAROONSroad View Post
How the confidential info became public:



good to see regardless. I mean seriously when do you say it doesnt work ?they have lost 300 million over the last 14 years and still need 23 million a year from the govt/taxpayers to survive???...the People of Phx need to think real hard if they wanna keep throwing money down the hole and all this comes with an "outclause" after 5 much for the iron clad lease huh?

Jerry Reinsdorf is saying what Jerry Moyes already has said ..Nhl hockey in Phx doesnt work never will...

Jerry Reinsdorf wants a subsidy to stay for 5 years to break the lease and sell the team .............................Jerry Moyes wants to do it now ..

Jerry Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, says the hockey team won't survive unless the group gets up to $23 million a year in revenue from the Coyotes' arena lease with the City of Glendale, according to new court filings.

• The taxing district would yield an estimated $23 million in payments the first year, and $15 million by the fifth year, in 2014. The court filing says those payments could continue after 2014.

• If the team was losing money after five years, the Reinsdorf group could demand an additional $15 million a year from the city.

• If the city refused, the Reinsdorf group could sell the Coyoyes and move them, without paying a penalty.

Last edited by Artyukhin*: 08-04-2009 at 07:04 AM.
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