Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post

troutman · 06-20-2013, 09:35 AM

Phoenix Coyotes sale: Progress made, but clock ticks

http://www.sportingnews.com/nhl/stor...-entertainment

The ownership group trying to buy the Phoenix Coyotes and keep them in Glendale believes it is addressing city concerns about an arena deal.

But if Renaissance Sports & Entertainment and the city of Glendale cannot come to terms on arena management payments by Friday, the NHL may pull the plug on the deal and the team’s future in Arizona.

“The thing is, if there’s not some sort of framework in place for a deal by Friday, you have to imagine the NHL will pull the plug. This can’t continue to drag on into July,” said an executive working close to the deal.

“The clock is really ticking here,” the executive said. “The good news is, it seems they’re down to tweaking the deal, making some minor refinements. It appears Renaissance has met the City’s main objective—to create enough revenue that this deal works for both sides.”

The source also pointed out that Renaissance executives believe their deal is better for the city than past Coyotes pacts.

06-20-2013, 09:35 AM	#3153
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	Phoenix Coyotes sale: Progress made, but clock ticks http://www.sportingnews.com/nhl/stor...-entertainment The ownership group trying to buy the Phoenix Coyotes and keep them in Glendale believes it is addressing city concerns about an arena deal. But if Renaissance Sports & Entertainment and the city of Glendale cannot come to terms on arena management payments by Friday, the NHL may pull the plug on the deal and the team’s future in Arizona. “The thing is, if there’s not some sort of framework in place for a deal by Friday, you have to imagine the NHL will pull the plug. This can’t continue to drag on into July,” said an executive working close to the deal. “The clock is really ticking here,” the executive said. “The good news is, it seems they’re down to tweaking the deal, making some minor refinements. It appears Renaissance has met the City’s main objective—to create enough revenue that this deal works for both sides.” The source also pointed out that Renaissance executives believe their deal is better for the city than past Coyotes pacts.