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10-02-2012, 04:57 PM
  #125
AZcoyotes33
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Location: Phoenix, Arizona
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Quote:
Originally Posted by naurutger View Post
So the fun is starting. Changes include adding a 5 year option at the end of the deal with a requirement to have 40 hockey events a year with 30 non-hockey events; a $30K deduction would occur for each event under the 30 requirement.

New Management Fee:
Payments:
1. $11M
2. $14M
3. $15M
4. $15M
5. $16M

With $500,000 each year for capital improvements. Overall life of the deal lowered to $320M. Lockout penalty=$60,000 per each game missed. A bonus of $600,000 will be given for every additional 20 events over the 30 non-hockey events.

Joyce comments that she met with the current owners of Westgate who said they have tenants willing to move in after the Coyotes agreement.
This is also including games missed this year. Gives the city a little extra incentive to get this done quickly because it is looking more and more likely that games are going to be cancelled pretty soon.

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