Jul 2, 2013, 8:42 PM EST
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.
Mar 3, 2015, 11:31 PM EST
Some exciting moments from Ducks – Coyotes.
Mar 3, 2015, 11:02 PM EST
The frequent Islanders hitter has two long-ago suspensions.
Mar 3, 2015, 10:40 PM EST
A truly weird scene for Florida’s goalies.
Mar 3, 2015, 10:17 PM EST
Easy, if uninspired, win for Tampa Bay.
Mar 3, 2015, 9:39 PM EST
He fought Marcus Foligno on Tuesday.
Mar 3, 2015, 9:24 PM EST
Tough start to Tuesday for goalies.
Mar 3, 2015, 9:18 PM EST
Montoya is currently trying to gut it out.
Mar 3, 2015, 9:06 PM EST
A contentious game in Columbus.
Mar 3, 2015, 8:16 PM EST
They traded for him on Monday.
Mar 3, 2015, 7:55 PM EST
Vancouver faces San Jose tonight.
Mar 3, 2015, 7:29 PM EST
He says he’s happy to be in New Jersey.
Mar 3, 2015, 6:29 PM EST
Could we see an upset or a blowout?
Mar 3, 2015, 5:33 PM EST
Incident occurred during TSN’s trade deadline day coverage.
Mar 3, 2015, 4:41 PM EST
Recapping the trade deadline.
Mar 3, 2015, 4:38 PM EST
“Shane’s a pro, he’ll get through it.”
Mar 3, 2015, 3:58 PM EST
Flames captain was holding out hope for a “tiny chance” he could keep playing.
Mar 3, 2015, 3:25 PM EST
Making it “pretty cool to be a part of.”
Mar 3, 2015, 2:17 PM EST
News and notes from around the crease…
Mar 3, 2015, 2:16 PM EST
He didn’t sign with them to lose.
Mar 3, 2015, 1:32 PM EST
Ex-Dallas winger could open up playing alongside the Detroit captain.
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