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Coyotes Deal Could Be Even Worse

Posted: August 21, 2012 at 12:30 pm   /   by

Recently, Glendale Mayoral Candidate Walt Opaska sent a letter to Mayor Elaine Scruggs and the Glendale City Council requesting them to look at and possibly change the current deal the City has with hopeful Coyotes owner, Greg Jamison. The National Hockey League has no labor agreement with the National Hockey League Players Association. In October, owners will be forced to lock out players.

Glendale’s City Council recently approved a deal that would pay $17 million to Jamison’s group to manage Arena. This fee was contingent on having the Coyotes being the anchor tenant of the arena. If the lockout were to proceed as predicted, will not have an anchor tenant.

Opaska said, “I am asking you to renegotiate the payment terms under the Arena Management Agreement. Glendale’s payment should be prorated based on the number of NHL hockey games played in the arena during the 2012-2013 season.”

Glendale’s finances have been sinking lower and lower since the economic downturn. With this deal, it may even sink further. “Now is the time to renegotiate the payment clause. Mr. Jamison has yet to buy the Coyotes and sign the Arena Management Agreement. Glendale should immediately withdraw its approval of the agreement until this problem is fixed,” Opaska pleaded. Given Glendale’s financial situation, the City Council would be wise to follow Opaska’s advice.

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Coyotes Deal Could Be Even Worse