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Originally Posted by SuperMatt18
Even though they said they still wanted the team to stay Glendale pretty much did do that at first in 2015.
IIRC one of the big things that brought the parties back together was the threat of the lawsuit from the Arizona Coyotes group on one side, and then pressure from the NHL/Coyotes players on the other side.
And even then it's a year to year lease. Glendale could play hardball for the one year and get nothing when they leave - or the Fertitta's would probably be fine with paying say $10M and Glendale would probably say "sounds good".
According to this article I don't think they Coyotes are really contributing a whole lot of benefit to Glendale right now as it is. https://www.azcentral.com/story/news...ale/574681001/ |
As I recall it, Glendale was begging the Coyotes to renegotiate the lease in 2015 and only moved to terminate it after the Coyotes refused. In doing that they forced the Coyotes back to the negotiating table.
The lease is year to year right now. If Glendale wanted out, the city could have issued their own opt-out by Dec 31. Doesn't matter if the Coyotes aren't contributing much, they are still better than no anchor tenant. The arena has probably already turned away events in anticipation for the 2019/20 NHL season.
I don't see why the Feritta should negotiate with Glendale. If the sale was truly close, they should have just opted out of the lease with any compensation for lost ticket sales to Barroway accounted for in the sale agreement. Why complicate matters with another party involved.