Coyotes deal still in negotiations
As of Thursday night, Glendale still had not finalized a deal with Phoenix Coyotes buyer Matthew Hulsizer, one day before the city planned to post the agreement publicly, according to Glendale Mayor Elaine Scruggs.
She told residents during a scheduled meeting on various city issues that the agreement may or may not be reached Friday (Dec. 11) and scheduled for a City Council vote Tuesday (Dec. 14), depending on city staffers' progress on the talks Friday. She said negotiations could take until the end of the day, when Glendale typically posts its council agendas, around 5 p.m. Agendas are posted here:
http://glendaleaz.com/clerk....
Glendale's negotiations with Coyotes buyers in the past have appeared to run close to the posting deadline. And in general, parties often negotiate close to deadlines as a means of bargaining.
But Glendale has little time left to secure an owner before Dec. 31, when the National Hockey League said it could seek to relocate the franchise. And the city has blown through deadlines to secure an owner before. If the agreement does not make Tuesday's vote, Glendale could call a special meeting any time with 24 hours' notice.
Glendale must hash out lease terms with Hulsizer so that the Coyotes can continue playing at Jobing.com Arena. The city paid $180 million to open the arena in 2003 and depends on rent, fees and taxes paid by the Coyotes to play at the arena and operate events. The financially-struggling Coyotes likely will depend on new revenue streams generated at or near the arena and approved by Glendale to stay afloat, such as higher parking charges that were proposed in the past.