Sale of Coyotes to Jamison in Question (UPD: deadline won't be extended)
View Single Post
02-01-2013, 06:35 PM
Join Date: Dec 2006
Originally Posted by
Penalty Kill Icing
As someone who is totally new to this issue, can someone explain me the entire situation:
What is intention of city of Glendale? What is the current status of Phoenix Coyotes? Until how long (what year) are they guaranteed to be in current location? Who owns the arena? NHL or the city? Does city contribute to the running of team? Or is it actually hampering the prospects? Whats the problem with Jamison acquiring Coyotes?
I am completely lost.
you're basically asking us to tell you what's happened so far in a season of "24" so you can watch the last four episodes.
what you need to know right now:
The city owns the arena, and pays someone (either the NHL now or new owner) to manage it. They still have massive arena bonds to pay off from building the arena.
CoG negotiated a sweetheart lease with Jaimeson last year. The thought was that with a good lease Jaimeson could find the investors.
Elections happened and the new council/mayor are not in favor of that lease, which had a january 31st closing deadline.
Jaimeson did not get the investors.
CoG still wants to keep the coyotes in glendale, but on a 'more fair' deal. How much less money that is we do not know.
Jaimeson is still attempting to find investors and negotiate a new lease.
A mysterious third party, possibly a calgary oil guy, has now entered discussions to get a lease deal and purchase the team.
The coyotes are tied to glendale only on a year to year basis at the moment. They can be moved at the end of the season if the NHL chooses.
View Public Profile
Find More Posts by danishh