Phoenix CVI: It's good to talk these things out

[The Feckless Puck]

Link to Morgan's recap story:

http://www.foxsports.com/arizona/st...n-amended-lease-agreement-with-coyotes-072315

 

[habsinottawa]

All coming out now.

Kind of pointless to have an out-clause in a deal that is two years in length.

 

[The Feckless Puck]

inb4 someone mentions that a Tukwila arena could be completed in 2 years...

Out-standing. This team is portable in two seasons, right around the time expansion teams are coming online. Gives Seattle time to get their ducks in a row.

Now where did I put that image of Johnny Carson as Carnac the Magnificent...

 

[RandR]

Morgan's first story on this is out... don't shoot the messenger everyone... he's bringing us news.

Glendale to vote on amended lease agreement with Coyotes

If the council approves the amendments, the city and team will reach a settlement that will keep the Coyotes at Gila River Arena for at least the next two seasons while ending the legal battle between the two sides.
Per terms of the deal, the Coyotes will collect all hockey-related revenue streams that previously went to the City of Glendale, including a portion of naming rights, ticket surcharges and parking revenue, while the city will pay $6.5 million a year to the Coyotes to manage the arena. The out-clause that was part of the original 15-year, $225 million agreement has been removed

EDIT: What I don't understand yet is why the deal is only for the next 2 years if the out clause is being removed. So, what is the term of the new deal?

 

[habsinottawa]

Now where did I put that image of Johnny Carson as Carnac the Magnificent...

Man, you JUST beat me. Well played.

 

[GuelphStormer]

07/24/15 9:00 a.m. Council meeting agenda (with amendments)...

https://glendale-az.legistar.com/View.ashx?M=A&ID=412105&GUID=ACE8B3FD-C847-467E-9D08-2C10AB28C7B9

why is the amendment notarized/signed/dated in Vancouver?

 

[BattleBorn]

They chopped the AMF to $6.5 and the lease expires on June 30, 2017

How's that for IA having the leverage

Two we....Years.

 

[TheLegend]

Jurecki...a poor man's version of Craig Morgan...

Why? Because he posted something you didn't like?

btw.... looks like he was right.....

 

[Mightygoose]

Kind of pointless to have an out-clause in a deal that is two years in length.

That kind of true

Also with the contract 2 years in length. The expansion cheques (assuming to Vegas and QC) will be cashed in to minimize the blow for IA for the 17 Million 'shortfall' (15 Less 6.5 x 2).

If IA needs to sell the team for a wash, they'll be a better position

 

[habsinottawa]

That kind of true

Also with the contract 2 years in length. The expansion cheques (assuming to Vegas and QC) will be cashed in to minimize the blow for IA for the 17 Million 'shortfall' (15 Less 6.5 x 2).

If IA needs to sell the team for a wash, they'll be a better position

I see the deal as essentially a stall for Seattle to get everything together. So I agree with your premise, essentially.

 

[GJB]

Wow. And here I thought that the arena couldn't be "managed" for anything less than $15m/year haha

What a joke.

 

[The Feckless Puck]

"This revised agreement represents a positive outcome for both the city and the Coyotes," said Glendale Acting City Manager, Dick Bowers. "It also allows us to move forward in a way that keeps an important economic driver in our community. That’s important for business and it’s important to our citizens."

“We have come up with a resolution that works for both sides and is best for the team, our fans, the city and most importantly the taxpayers,†said Coyotes Co-Owner, President and CEO Anthony LeBlanc. “Neither side benefits from a long, drawn out legal battle. What’s important is putting this dispute behind us and focusing on growing the Coyotes business and in turn, further growing revenues for the entire Westgate Entertainment District. This decision will bring much-needed certainty to our fans and sponsors about our near-term future and an end to the uncertainty brought about through this legal action. We know that hockey works in the Valley and we are committed to Arizona for the long-term. We thank Coyotes fans and sponsors for their incredible support throughout this process. They have proven that they are among the most loyal and ardent in the NHL.â€

Gee, thanks, Anthony... nothing like knowing your team is sticking around long enough to REALLY get the relocation rumor mill churning.

 

[cutchemist42]

Really have not been in here for a while, did the whole statute law thing really have bonafide merit in the end?

 

[BattleBorn]

Really have not been in here for a while, did the whole statute law thing really have bonafide merit in the end?

Seems that way. It got IA to the table at the very least. If there was no merit, I imagine it would have gone to court.

 

[cbcwpg]

So another two seasons with an axe being held over the head of this franchise. First it's the "out clause" that gives people hesitation. Now it's the fact it only a two year lease.

Can't wait to see how many new people flock to the games now.

 

[CasualFan]

The other key provision is that Glendale can replace the Arena Manager anytime after June 30, 2016 upon 90 days written notice.

Here's the quick breakdown:

- 2 Year Lease thru 6/30/17
- $6.5MM AMF per year
- Arena Manager keeps all revenue (no more city surcharges, parking, etc)
- However, Glendale can replace IA with new Arena Manager after 6/30/16
- Tindall gets fired

Council will no doubt approve this tomorrow.

 

[GuelphStormer]

so ... Glendale won?

 

[Marc the Habs Fan]

So at least 2 more years of this?

We might be onto thread 300 by then.

 

[GuelphStormer]

The other key provision is that Glendale can replace the Arena Manager anytime after June 30, 2016 upon 90 days written notice.

Here's the quick breakdown:

- 2 Year Lease thru 6/30/17
- $6.5MM AMF per year
- Arena Manager keeps all revenue (no more city surcharges, parking, etc)
- However, Glendale can replace IA with new Arena Manager after 6/30/16
- Tindall gets fired

Council will no doubt approve this tomorrow.

wow. that's hardball.

 

[XX]

2 year deal, then off to Portland.

 

[CasualFan]

Gee, thanks, Anthony... nothing like knowing your team is sticking around long enough to REALLY get the relocation rumor mill churning.

LeBlanc isn't very good at being truthful. But then again he just got the crap kicked out of him by Glendale.

 

[cutchemist42]

So what does this mean for the NHL/Glendale/relocation/etc??

 

[cbcwpg]

Gee, thanks, Anthony... nothing like knowing your team is sticking around long enough to REALLY get the relocation rumor mill churning.

"Much needed certainty"

Sorry Tony, but a two year lease is not certainty, unless the certainty is describing the franchise being moved. The out-clause was bad enough but at least there was a long term lease and maybe a chance it might work. This, a two year agreement, does nothing but keep the relocation speculation going.

 

[JimAnchower]

The other key provision is that Glendale can replace the Arena Manager anytime after June 30, 2016 upon 90 days written notice.

Here's the quick breakdown:

- 2 Year Lease thru 6/30/17
- $6.5MM AMF per year
- Arena Manager keeps all revenue (no more city surcharges, parking, etc)
- However, Glendale can replace IA with new Arena Manager after 6/30/16
- Tindall gets fired

Council will no doubt approve this tomorrow.

So it could be a one year deal?

 

[The Feckless Puck]

So another two seasons with an axe being held over the head of this franchise. First it's the "out clause" that gives people hesitation. Now it's the fact it only a two year lease.

Can't wait to see how many new people flock to the games now.

Yep. My season tickets run through the end of the '15-'16 season. The out clause was a matter of uncertainty for me, but at least there was a hope they wouldn't use it. Now we have an agreement that DEFINITELY ends in two years. I've spent the past 10 years' worth of season-ending games saying goodbye to this damn team - I'm in no mood to spend a lame duck season doing it.

Certainty? Maybe, but of the absolute wrong kind.

So what does this mean for the NHL/Glendale/relocation/etc??

Nothing until the 2017-2018 season.