Quote:
Originally Posted by troutman
Uneasy Glendale looks for changes to Phoenix Coyotes deal
http://www.bizjournals.com/phoenix/n...o-phoenix.html
The city worries if the sales tax measure goes to the November ballot and the increase is reversed it won’t be able to afford the Coyotes deal.
The Arizona Supreme Court is considering the ballot measure case and Glendale’s argument that it should not go to the November ballot.
Glendale spokeswoman Julie Frisoni said the council has instructed city staff to come up with some new arena options.
Those options could be presented to Jamison tonight.
Glendale could look to pay Jamison less money to run Jobing.com Arena, change the annual payment structure or looking for more revenue in the deal.
The Jamison camp also says Glendale is trying to change the terms of the lease deal and payments to the Coyotes.
The two sides have been holding private meetings on the sale and the lease deal.
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This really sums up a lot of the issues with ever closing a deal in Glendale, they put terms out and as you reach them they move the goalposts. You can only go to investors so many times before they just get fed up, regardless of their passion or belief in a project. There's so much uncertainty with your counterparties that closing a deal seems impossible.