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troutman · 01-31-2013, 04:11 PM

Jamison still trying to salvage Coyotes deal with deadline hours away

http://www.theglobeandmail.com/sport...rticle8061499/

In the meantime, a source said the NHL has an agreement with Glendale to manage Jobing.com Arena for $1-million per month for the rest of the season. Weiers said there is a deal with the NHL which can be transferred to a new owner but he refused to confirm the amount.

As a result, the sale is once again in limbo with the NHL faced with paying another season of losses for the team. What makes this worse for the NHL is it has no deal with Glendale to collect another $25-million payment. That agreement expired at the end of last season and the NHL had hoped to sell the team to Jamison by the start of this season.

By now, the league’s cost for the Coyotes are well north of $200-million. The league bought the Coyotes out of bankruptcy in October of 2009 for $128-million.

The two big problems for any prospective buyer is NHL commissioner Gary Bettman will not budge on his demand of $170-million for the team because he needs to recoup as much of the league’s money as possible, and Glendale council is no longer willing to hand over hundreds of millions of dollars in management fees as part of the lease.

LeBlanc said without a similar lease to the one Jamison negotiated no buyer can make the Coyotes sale work given the team’s annual losses.

01-31-2013, 04:11 PM	#2487
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	Jamison still trying to salvage Coyotes deal with deadline hours away http://www.theglobeandmail.com/sport...rticle8061499/ In the meantime, a source said the NHL has an agreement with Glendale to manage Jobing.com Arena for $1-million per month for the rest of the season. Weiers said there is a deal with the NHL which can be transferred to a new owner but he refused to confirm the amount. As a result, the sale is once again in limbo with the NHL faced with paying another season of losses for the team. What makes this worse for the NHL is it has no deal with Glendale to collect another $25-million payment. That agreement expired at the end of last season and the NHL had hoped to sell the team to Jamison by the start of this season. By now, the league’s cost for the Coyotes are well north of $200-million. The league bought the Coyotes out of bankruptcy in October of 2009 for $128-million. The two big problems for any prospective buyer is NHL commissioner Gary Bettman will not budge on his demand of $170-million for the team because he needs to recoup as much of the league’s money as possible, and Glendale council is no longer willing to hand over hundreds of millions of dollars in management fees as part of the lease. LeBlanc said without a similar lease to the one Jamison negotiated no buyer can make the Coyotes sale work given the team’s annual losses.