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Report: Glendale will review revised Coyotes arena lease plan on Tuesday

Sep 29, 2012, 7:53 PM EST

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A revised version of the Phoenix Coyotes’ arena lease arrangement will be presented to Glendale’s city council on Tuesday, according to The Globe & Mail.

As discussed before, this setup would reduce the amount of money that would go to prospective owner Greg Jamison in the first five years.

For those who are click-averse, the city would pay Jamison $72 million instead of $97 million in the first five years that he would run the Coyotes. Meanwhile, the remaining 15 years of the agreement would include higher payments to match the value of the $324 million lease.

To be more specific, The Globe & Mail reports that Jamison will receive $12 or $13 million instead of $17 million during the 2013 fiscal year to help manage the team.

Whether this revised lease plan is well-received or not, a verdict isn’t expected on Tuesday. The upcoming gathering is just considered a “workshop” instead of an official meeting.

The next official meeting will happen on Oct. 9, then, according to David Shoalts.

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More on the revised plan

  1. manchestermiracle - Sep 30, 2012 at 1:02 AM

    The glacial NHL + do-as-little-as-possible-today politicians = nothing happening for the foreseeable future. How much longer is this train wreck going to last?

  2. jimw81 - Sep 30, 2012 at 4:32 AM

    It’s time to close up the circus in Glendale. This is ever, I mean ever going to get resolve.

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