View Single Post
Old
11-17-2012, 02:52 PM
  #771
Whileee
Registered User
 
Join Date: May 2010
Posts: 7,975
vCash: 500
Quote:
Originally Posted by preissingg View Post
Could you elaborate on precisely what you mean here by "execution" of the lease?

From my uninformed perspective, I understood approval of the lease by the council set the AMF in motion; period.

Just curious about the "execution" component to which you refer.

I agree with your train of thought; I just always believed final approval implied execution by default.
As I understand it, city council will be asked to pass an ordinance authorizing the city manager to finalize and sign a lease with the "Arena Manager" and the "Team Owner".

The ordinance wouldn't go into effect right away (I think it will take effect after 30 days), because it's not an emergency. During that time, citizens could mount a petition to send it to a referendum. Even if that doesn't happen, the lease contracts will not go into effect until they are signed by all three parties (COG, Arena Manager and Team Owner). Before that happens, there has to be due diligence and the NHL has to sell the team to Jamison's investment group. My sense is that the NHL will not want to complete the sale to the Jamison investment group until there is clear sailing on the lease. During those delays, a new mayor and council will be sworn in (at the first council meeting in December, I think) and could overturn the motion passed by the previous city council.

That's why I think that this plan by Jamison and the gang of four council members is ultimately doomed, and could spell the end of efforts to keep the Coyotes in Glendale. It seems to signal that neither Jamison nor the NHL have any intention of negotiating better terms to help out Glendale. In that case, I think that there are too many opposing groups and too many mechanisms to kill the deal. A rushed passing of a motion in favor of this lease won't circumvent that, and is likely to just increase the opposition within city council and with the public. It's simply a very bad idea.

Whileee is offline