Phoenix XXII: It's Now or Never
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02-22-2011, 03:31 PM
Join Date: Nov 2009
Location: Bay Area, CA
Originally Posted by
I don't know if they indeed will choose that or not, but I recall reading that was one issue that was being investigated further.
That's why I keep asking for all the blanks to be filled in.
Once upon a time, an arena was built by COG, and they paved some land for parking. Elman promised to build a parking garage at some point in the future.
2006 -- Elman exits, Moyes assumes 100% ownership (more or less) of the Yotes and sole Arena Manager
2009 - Baum awards the Coyotes to the NHL for $140m; Moyes is still the Arena Manager, plus all rights, which the NHL asked for/received by asking him to not terminate the agreement for one additional year. ???
2010 -- June 2010. Moyes agreement is terminated.
2011 - MH, who hasn't bought the team yet, somehow will sell the parking rights to COG.
What did I leave out?
So much for staying above the fray. I believe the answer that you are looking for is found when you revise the 2009 entry to your time line.
Specifically in the NHL Asset Purchase Agreement Schedules:
1.1(e) Permitted Encumbrances
Common Operation and Reciprocal Easement Agreement for the Entertainment District at Westgate, made as of the February 15, 2006, by Entertainment Center Development, LLC and Coyote Center Development, LLC.
2.2(ii) Excluded Team Contracts
AMULA Undertaking and Indemnification Agreement, dated as of September 25, 2006, by Coyotes Hockey, LLC and Coyotes Holdings, LLC for the benefit of Coyote Center Development, LLC and Glendale-101 Development, LLC.
The NHL kept the Easement Agmt and excluded the AMULA. Therefore, when the NHL transfers it's holdings Hulsizer, the parking rights go with it.
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