Re: 2011-2012 NHL discussion
The City of Glendale should have a deal in place shortly to keep the Coyotes in Arizona.
The Coyotes are still owned by the NHL but Glendale has subsidized the team over the last three years to the tune of $25 million per season. A majority of the city council (four of seven) have agreed to a deal which would pay the new owners a fee for running the arena. The fee is expected to be $17 million next season, $20 million until 2017 and $15 million after that in a 20 year deal. Former owner Jerry Moyes asked the city to help out with $12.5 million before he went bankrupt, but Glendale refused. Former San Jose Sharks President Greg Jamison is looking to purchase the team and this incentive can only help. Stay tuned.
"I have just been more than a little suspect of all the trades since the Willy (Scott Williamson) cash grab. That one left such a bad taste in my mouth that even a 1985 Dom Pérignon couldn't cleanse it." -- Creek14