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Glendale release details of latest Coyotes sale proposal, including possible name change

Jun 4, 2012, 7:37 PM EDT

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The Phoenix Coyotes’ potential new owner Greg Jamison doesn’t think the Phoenix Coyotes should exist anymore. Instead, he might want them to be called the Arizona Coyotes, as the City of Glendale’s latest team sale proposal reveals.

The Arizona Republic’s Lisa Halverstadt does all that fancy legal document reading for us:

The agreement would have Glendale pay roughly $300 million in arena management fees to a group led by former San Jose Sharks chief executive Greg Jamison and another $24 million in capital funding over the course of the 20-year deal.

During the course of the agreement, Glendale would likely receive more than $14 million in rent and millions of dollars more from surcharges on each ticket.

Eye on Hockey’s Brian Stubits further disseminates information from those documents, arguing why this new proposal has a better chance of passing the Goldwater Institute’s sniff test. (As you may remember, the Goldwater Institute’s threat of a lawsuit essentially derailed the Coyotes’ most recent flirtation with a sale.)

The general takeaway is that this deal echoes the theme of this situation: the City of Glendale believes that it is better off with the Coyotes playing in Jobing.com Arena – or whatever it might end up being called – then not. The city looks to make concessions with the team while also satisfying the Goldwater Institute’s goals of protecting the city (and its population) from itself.

There’s still quite a ways to go. The city council is expected to “get a public update of the proposed deal” on Thursday while a vote hasn’t been planned yet, according to Halverstadt. If you want to find out the “main points” of the new deal, check out this PDF from the city.

  1. rushledger - Jun 4, 2012 at 8:08 PM

    Phoenix coyotes has a ring to it Arizona coyotes does not

  2. vols84 - Jun 4, 2012 at 8:14 PM

    Move them to Kansas City

  3. georgemuresanwasmygiant - Jun 4, 2012 at 9:12 PM

    Amazing that everyone can make a “smart” comment about moving the Coyotes to Seattle or Kansas City, but no one does the same about the Devils and their $80 million in debt and ownership situation

  4. proudliberal85392 - Jun 4, 2012 at 9:38 PM

    georgemuresanwasmygiant: Thank you.

  5. florida76 - Jun 4, 2012 at 9:55 PM

    Arizona Scorpions

  6. pavelfitzgerald - Jun 4, 2012 at 10:40 PM

    The Devils haven’t lost money every single year they’ve been in existence .. .. ..

    • barkar942 - Jun 4, 2012 at 11:06 PM

      No, just after they overpaid Kovy.
      They tried to own the Trenton Devils and folded them because of all of their money woes.
      Now, they are playing (or should I say showing up on the ice) for the Stanley Cup and they still could fold tomorrow if it weren’t for the NHL propping them up.
      The Devils and Nets are two teams that have played in NJ that cannot find a financially supportive fan base to keep them solvent. The Nets are moving to Brooklyn (don’t think that will help much either) and the Devils could be foreclosed on.
      All of the talk of Phoenix over the last three years, and the Devils are in just as bad a shape!

      • socal0101 - Jun 5, 2012 at 1:12 AM

        Be realistic. The Islanders are a basket case too, but there is no way Bettman is going to move two of the three teams in the NYC area. One should be fixed, somehow, and maybe the other moved to Seattle or Quebec depending on who gets a well-financed ownership group and a nice new arena.

  7. mclovinhockey - Jun 5, 2012 at 3:49 AM

    If the NHL sold all the teams losing money since they got here the NHL would have the 7 Canadian teams, the wings rangers and the flyers… All other fan bases have been too inconsistent to make money every year

  8. koyoteken - Jun 7, 2012 at 2:37 PM

    who the EFF elected the “Goldwater Institute”???????

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