May 8, 2012, 12:36 PM EDT
If you haven’t had your fill of Canadian sportswriters ripping the NHL for fighting to keep the Coyotes in Glendale, here’s another article, this one courtesy Sportsnet’s Michael Grange.
Mostly we’re linking to it for Grange’s reporting on the specifics of the deal to sell the franchise to Greg Jamison that’s expected to be presented (and approved) by city council shortly.
According to long-time Glendale city councilor Phil Lieberman, the terms of the deal being given to Jamison — who has partners, apparently, but wouldn’t name them — basically see him guaranteed $306 million in management fees for Jobing.com Arena over the next 21 years, or an average of $14.6 million a year. A large chunk of that money is front-end loaded, with Glendale on the hook for $92 million over the next five years.
Suffice to say that’s a lot of money for a city with a significant budget shortfall to guarantee.
It’s hard for me to say if it’s a good deal for the people of Glendale — I’m not the treasurer — but Lieberman’s appraisal is clear: “If I had to choose between the Coyotes staying and them leaving, I wish they were leaving.”
- Subban: Contract in arbitrator’s hands now 18
- Flyers’ Mason broke his right pinky finger playing ball hockey 23
- Lindros, LeClair and Desjardins to be inducted into the Flyers Hall of Fame 64
- It’s back! PHT’s Team of the Day summer series starts tomorrow 9
- Pens sign Spaling — two years, $4.4 million 13
- Agent: Subban hasn’t told me to make him NHL’s highest-paid D 32
- Devils sign Greene to five-year, $25M extension 18
- Subban seeking $8.5 million in arbitration, versus the Habs at $5.25 million 47
- Marchand on Plekanec: ‘I hate him. I can’t stand him’ 59
- Gettin’ paid: Gardiner inks five-year, $20.25M extension with Leafs 15
- Lindros, LeClair and Desjardins to be inducted into the Flyers Hall of Fame (64)
- Cashing in: Rangers sign Brassard to five-year, $25 million deal (63)
- Poll: Is Drew Doughty the best defenseman in the world? (60)
- Marchand on Plekanec: ‘I hate him. I can’t stand him’ (59)
- Subban seeking $8.5 million in arbitration, versus the Habs at $5.25 million (47)