Referendum starts process (against) Glendale arena deal with Jamison
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12-04-2012, 04:24 PM
Join Date: Apr 2007
Originally Posted by
One, out of the two following will happen prior to the 20 year lease expires.
a) COG will fail to pay one of the yearly payments thus going BK
b) The Coyotes will go BK and Jamison will get rid of them/move them/sell to move them.
One thing I AM SURE OF, we won't see the 20 year period go by and Coyotes still in Arizona.
I think I know what you mean but "thus" is the wrong word choice as default on an AMF payment will not cause Glendale's bankruptcy. However, it is possible to foresee a scenario in which the strain caused by the AMF, jobing.com debt service, Camelback Ranch debt service, and who knows how many other boneheaded projects, lead the city into bankruptcy, causing it to break out of the lease, enabling Jamison to take the Coyotes someplace else.
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