Jul 2, 2013, 8:42 PM EDT
What started with former Coyotes owner Jerry Moyes filing for bankruptcy in 2009 might finally come to a head tonight with a City Council meeting scheduled to start at 10:00 p.m. ET.
We have reached the NHL’s deadline for the City of Glendale to either vote in favor of prospective Coyotes owner Renaissance Sports & Entertainment’s (RSE) 15-year, $225 million lease agreement on Jobing.com Arena or risk losing the franchise entirely.
With that vote looming, Global Spectrum announced it’s support of RSE, according to CSN Philly.
The list of things that Global Spectrum is the owner of includes Philadelphia Flyers and their home, the Wells Fargo Center.
“As owner of an NHL franchise and operator of the arena in which that team plays, we are confident that Global Spectrum will do amazing things for us in Glendale,” one of RSE’s partners, Anthony LeBlanc said.
“Combining Global Spectrum’s management of the stadium next door with the efforts at the arena creates unique operating efficiencies that will be financially beneficial to both venues,” Flyers president Peter Luukko added.
“With an ability to combine our efforts, we can maximize opportunities for our teams, our customers and guests while significantly reducing expenses.”
That being said, there are areas of concern that remain. As TSN reported:
Unresolved concerns about the deal were outlined in a memo released by the City of Glendale last week, including issues over the city bearing all the risk in the deal if Renaissance’s plan fails and a $15 million management fee to RSE that could end up costing the city more than the projected annual cost of $6 million (should other projections not be met).
Included in the deal are a pair of out-clauses for Renaissance, including one that kicks in at the five-year mark and one if their cumulative losses should hit the $50 million mark. The deal does not include an out-clause for the City of Glendale.
Apr 24, 2014, 10:31 AM EDT
Would be his series debut, and first game since the Sochi Olympics.
Apr 24, 2014, 9:50 AM EDT
Will Andersen or Hiller start in Game 5?
Apr 24, 2014, 9:01 AM EDT
“I think he likes the big stage.”
Apr 24, 2014, 8:04 AM EDT
Elsewhere, Detroit will play Boston and Colorado will face the Wild.
Apr 24, 2014, 1:59 AM EDT
The Blackhawks gave the Blues a taste of their own medicine.
Apr 24, 2014, 12:52 AM EDT
Another memorable moment for the American star.
Apr 24, 2014, 12:25 AM EDT
The NFL defensive back strategy.
Apr 23, 2014, 11:29 PM EDT
Nice gesture … bad sign?
Apr 23, 2014, 11:04 PM EDT
Nick Foligno called his goal ahead of time.
Apr 23, 2014, 10:50 PM EDT
Just a nightmarish evening for Anaheim.
Apr 23, 2014, 10:39 PM EDT
Is history repeating itself?
Apr 23, 2014, 10:12 PM EDT
Pittsburgh once again can’t hold a team to less than three goals.
Apr 23, 2014, 10:00 PM EDT
Many wonder why he played the puck.
Apr 23, 2014, 9:36 PM EDT
He was hurt on Saturday.
Apr 23, 2014, 9:27 PM EDT
We ask, you answer.
Apr 23, 2014, 9:11 PM EDT
He was punished for a knee-on-knee hit to Colorado’s Tyson Barrie.
Apr 23, 2014, 8:37 PM EDT
Chicago is trying to even the series.
Apr 23, 2014, 8:03 PM EDT
But Pittsburgh’s lead is far from secure.
Apr 23, 2014, 7:47 PM EDT
He was second in the regular season scoring race.
Apr 23, 2014, 7:33 PM EDT
San Jose will go for the sweep on Thursday.
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