((HT: TSN/CP, Arizona Republic/Sanders-Harris))
A source close to the whole Phoenix Coyotes sale says Ice Edge Holdings is close to a memorandum of understanding ((MOU)) that gives the group exclusive negotiating rights with the city of Glendale over the Phoenix Coyotes.
The HQ asks if we've been here before...
We believe we have...
The agreement is expected to be finalized next week...
The HQ asks if we've been here before...
We believe we have...
The NHL is, apparently, also going to ask the city of Glendale to cover the US$20-million the franchise lost this year. The council is supposed to act on the request at its Tuesday night meeting where they'll be asked to give city manager Ed Beasley authority to sign agreements that would give the NHL the money the league says is required to keep the team in Glendale.
"The NHL has expressed its intention to keep the team in Glendale," the agenda item reads, "but has established deadlines and imposed requirements that require certain immediate financial commitments and assurances" by the city.
From Sanders:
City Attorney Craig Tindall said the amount that Glendale would guarantee is unknown.
The city may not have to fund any losses if a new owner is secured, he said.
"Depending on how things go, it may be nothing," he said. "It all depends on how negotiations go over the next few days."
Councilman Phil Lieberman called for a cap on the guarantee and criticized the staff's recommendation as being vague.
And altogether being a really bad idea...
"We lay people off. We have all sorts of vacancies. We're going to have to cut our services eventually. And we have an unlimited amount of money for the sports facilities."
Money wouldn't come from the city, but from arena operations and the special "taxing district" that is to be designed and implemented as part of the sale of the team and the new lease agreement- to whichever group would be awarded the sale of the Coyotes.
The HQ really, really does not see this happening...
Soon... bordering ever...
No comments:
Post a Comment