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05-13-2013, 02:54 PM
  #994
McRib
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Join Date: Apr 2008
Location: Saskatoon
Country: Canada
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Quote:
Originally Posted by gstommylee View Post
Renaissance would keep team there?
They'd keep them there the couple of years they'd own the team before they sold.

Basically the issue is that the purchase from the NHL is easy. But any owner in Phoenix needs serious kickbacks from Glendale in the form of a subsidy. That means negotiating an arena lease with a generous fee for managing the arena. I don't know where it was said, but the Renaissance group has been saying that they'd need the same deal that was there for Jamison last year when he tried to buy the team. Glendale's coffers are practically empty, so there's serious doubt that the city could afford much more than $6M a year for a management fee... which under Jamison was a clever way of disguising a subsidy.

Buying the team from the NHL is the easy part now. Getting the money from Glendale won't be.

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