Glendale council member Joyce Clark chatted with local Arizona sports talk radio station, The Fan 1060 late last week. Speaking about the progress of the Phoenix Coyotes sale and the on-going negotiations between the city and prospective ownership group led by Greg Jamison, Councilwoman Clark says a deal that would push the sale along is in it’s final stages of completion and could be placed on the Council’s itinerary for a vote as soon as mid November.
An ideal for departure
This comes as good news to Coyotes fans as they have not heard much about the sale since early October. Most recently, Glendale Mayor Elaine Scruggs stepped forward to voice her case on seeing the struggling team leave Glendale for good. Scruggs, who was in favor of Matthew Hulsizer’s bid to purchase the Coyotes, has flipped flopped on her stance pertaining to the hockey team. The previous deal between Hulsizer and Glendale called for 75 million dollars in bonds from the city for the sale to be completed (Jamison’s deal does not include any sort of bonds). After having the sale disrupted by watchdog group, the Goldwater Institution, Hulsizer would go on to pull his bid from the Phoenix franchise and turn his attention to the St. Louis blues.
Reworked terms
Having reworked the Arena Lease Agreement, Greg Jamison and Interim City Manager Horatio Skeete came to terms that would see the first year payment drop from $17 million to $11 million, with each year following would see the dollar amounts dropped from their original payments. The newest term in the reworked lease agreement is the one time additional 5-year lease renewal option. More detailed information about the lease agreement here.
Contact the Author Twitter: @edmchvz – Email: edm.chvz@gmail.com
Based out of Arizona, Ed Chavez joined The Hockey Writers to cover the Phoenix Coyotes before moving onto THW’s sister site, Sunbelt Hockey Journal where he covers hockey happenings in the desert. Follow Ed on twitter, @edmchvz
I’m ready to move into Westgate as soon as the Coyotes deal is signed.
I just need a $4 million per year “Retail Store Management Fee” because I will make sure the Retail store is properly run with employees and its set to the right temperature and experts will work for me who know how to book special sale events that will bring in EVEN MORE PEOPLE!
Without the tax hike, we all know this deal is dead in the water, so let’s wait until the November 6 ballot before believing anything the council members of Glendale say, especially Joyce Clark who is pro-Coyotes, even though she doesn’t seem to care who are Greg Jamison’s investors.
But since you’re pro-Nordiques should we believe you? The tax hike is for the police, firefighters and public events in Glendale and only a small part is going to the Coyotes.
Jamison has been rumored to buy the Coyotes since August 2011; yet, 14 months later, he still hasn’t bought the team… I’m just stating the facts!
Actually, they arent waiting on Jamison….they are waiting on Glendale and the lockout situation.
Facts Fred?? Fred you have no more a clue as to what’s happening in Phoenix than the next person. BTW…. trolling Joyce Clark’s twitter account is really unprofessional for someone as yourself who has his own blog on this site.
I can’t speak for what Fred does on his twitter page but Larry nailed it, no one knows more than the next person when it comes to this situation unless you’re in the talks.
actually Rogers and Bell bought the Maple Leafs in late August. Where was Jamison’s money then? If this house of cards were real the deal would be done by now. Jamison’s “money” has so many conditiions attached to it 1 tiny breeze and this house of cards falls a part and Gary Bettman is playing 52 pick up.