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.
Aug 29, 2014, 9:00 AM EDT
“It’s amazing how an accident like this puts things in perspective.”
Aug 29, 2014, 8:00 AM EDT
They won the Presidents’ Trophy, but fell in the second round.
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Will one be named this season?
Aug 28, 2014, 9:33 PM EDT
The new coach wants the Penguins to ‘lessen the load.’
Aug 28, 2014, 8:21 PM EDT
It wasn’t even close.
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They have a lot of players on their roster with something to prove.
Aug 28, 2014, 5:59 PM EDT
There’s no timetable for his return.
Aug 28, 2014, 4:47 PM EDT
The former first round pick is entering the last season of his entry-level contract.
Aug 28, 2014, 3:35 PM EDT
Chris Stewart seems to think so.
Aug 28, 2014, 2:29 PM EDT
Arizona or Carolina could relocate according to the host.
Aug 28, 2014, 1:33 PM EDT
Milano clears the air on deal with Columbus.
Aug 28, 2014, 12:36 PM EDT
To be implemented for 2014-15 season.
Aug 28, 2014, 12:09 PM EDT
Calls out former coaches Marc Crawford, Alain Vigneault and John Tortorella
Aug 28, 2014, 11:12 AM EDT
After a solid junior career, hopes to make the Sabres as an 18-year-old.
Aug 28, 2014, 10:02 AM EDT
Last appeared in 10 games with the Montreal Canadiens during the 2012-13 season.
Aug 28, 2014, 9:00 AM EDT
He is scheduled to appear in court on Oct. 9.
Aug 28, 2014, 8:00 AM EDT
They’re in the middle of a rebuilding process.
Aug 27, 2014, 10:49 PM EDT
Of course, neither will be wearing a Sabres’ uniform – not yet at least.
Aug 27, 2014, 9:40 PM EDT
They’ve also appointed Don Sweeney as the AHL team’s new general manager.
Aug 27, 2014, 8:28 PM EDT
It matters given that they will start next season with a largely unchanged roster.
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