Phoenix LXXII: Send in the Clowns
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02-28-2013, 12:22 AM
Join Date: Nov 2009
Location: Bay Area, CA
Originally Posted by
Glendale councilman Gary Sherwood was interviewed today on the Coyotes.
Straight up interview..... several tidbits in it.
Thanks, that was interesting. Sherwood seems thoughtful and direct. Here's what I took away:
- Sherwood indicated that Beacon is not negotiating on behalf of the city.
- It appears Beacon is performing a Capital Formation service (ie: attempting to align potential buyers; determine the terms of said buyers MOU; present any results to Glendale.)
Note: In 2008-ish, Beacon was retained by Glendale to perform an Advisory service (completing a "Feasibility Report" for Coyotes operations at Jobing.com)
- Beacon may be shopping a 12-year, $156MM AMF lease ($13MM annual avg). Sherwood spoke as though there had already been discussion and disapproval of 5-year and 10-year-with-buyout leases.
- A separate RFP for arena management process has not yet commenced.
The city discussed conducting the two processes (Prof Svcs and RFP) simultaneously at a workshop. It seems highly probable that Glendale communicated what they were willing to do on a lease to Beacon and now Beacon will shop that to their network. If they get any serious hits, they'll bring them back to the city. We'll have to wait to see what is in the RFP, or if there is ever one actually issued for that matter.
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