[News] UPD: City of Glendale to vote on new arena agreement with Coyotes

[automaton 3]

I doubt that Phoenix would be willing to backstop losses like Glendale has done, new arena or not.

Someone has to pay the bills and the current Coyotes ownership group does not appear to have the deep pockets to sustain years of potential losses until a new arena is (maybe) built and the team becomes profitable (highly speculative as they have never made money in this market).

The other NHL owners could agree to backstop the team again, but I wonder if their patience is growing short.

[Jordan!]

How about $200 million legal win from the City of Glendale?

[troutman]

Originally Posted by Bouw N Arrow

How about $200 million legal win from the City of Glendale?

Or raise ticket prices.

http://www.thehockeynews.com/blog/to...isted-1-to-30/

[ForeverFlameFan]

Originally Posted by troutman

Or raise ticket prices.

http://www.thehockeynews.com/blog/to...isted-1-to-30/

Pretty sure they will if they can get more season ticket holders when moved downtown.

[Red Menace]

Portland a possible relocation option?

http://www.si.com/nhl/2015/06/12/por...-arena-dispute

[Resolute 14]

Originally Posted by Bouw N Arrow

How about $200 million legal win from the City of Glendale?

Even if we assume the team had an air tight case that was a guaranteed win, you'd never see that much money. In fact, at a full $200 million award, the city probably goes bankrupt. While I am amused to see you do a complete 180 on Glendale from when this started until now, you still fail to ground your expectations in reality.


Speaking of the lawsuit, I think the success or failure will hinge largely on what time frame applies. The team seems to believe that since the lawyer was not really involved in this specific contract negotiation, they are fine. But since the guy was a city lawyer for a while, his past duties almost certainly involved negotiating with and against the Coyotes in previous deals. If that previous action would prevent his going to the Coyotes, per this statute, then the city might prevail.

[pgsieve]

Originally Posted by Beatle17

Are you? If not, why do you care whether she is, and she has apparently committed much more money to the Coyotes than just about all of us on this board.

I bought a case of Pepsi once that included a pair of tickets....

[automaton 3]

Originally Posted by Bouw N Arrow

How about $200 million legal win from the City of Glendale?

Maybe?

I don't know how quickly the court system works in Arizona, but a case of this complexity in Alberta would require extensive discovery and would likely be several years down the road before being ready for trial, if a settlement couldn't be reached.

Also, from what I understand the statute that Glendale has hung their hat on has not been judicially interpreted, which adds risk and uncertainty for both parties. It sounds like there might be at least a whiff of smoke to the allegations.

[Igster]

Originally Posted by pgsieve

I bought a case of Pepsi once that included a pair of tickets....

Ewww. Pepsi.

[Beatle17]

Originally Posted by pgsieve

I bought a case of Pepsi once that included a pair of tickets....

Which has absolutely nothing to do with what I posted. The lady BUYS her season tickets and had a right to vent on the mayor, period.

The City of Glendale is so stupid for building all of the sports facilities for hockey, football, baseball spring training etc., utilizing bonds and every single one has lost money. I read another article months ago about the baseball facilities losing more money than Gila River Arena. It is not the fault of the NHL, Coyotes or anyone involved in the ownership groups since the original group of idiots sold them a bill of goods on Westgate and their Billion dollar vision. The only really entertainment districts that I have seen developed that are successful are LA Live and other arenas run by AEG, the rest are all money losers.

Every arena built by municipalities are money pits. Privately built facilities where the owners have a vested interest are properly run as they don't just walk away from their original investment and they try to keep them filled. But when a stupid City council totally pays for a facility AND signs over the operating to a team they are going to lose tons of money. If the City works with the team and allows some short term tax breaks, services upgrades or land grants then the chance of the City recouping something is much greater (i.e., City of Calgary granting land in West Village for Flames would likely lead to further development around the Arena by private groups).

[dammage79]

Chris Johnston ‏@reporterchris 7m7 minutes ago
The #coyotes have filed a restraining order against the city of Glendale. Ugly situation.

Why? I'm sure in the grand legal scheme of things this makes sense but I don't get it.

[GGG]

The city of Glendale must stay 200 m from the coyotes animal or hockey team at all times.

I assume it actually is trying to stop Glendale from making public statements. This is killing their season ticket drive as it puts back the uncertainty which makes supporting the team a losing proposition.

[Resolute 14]

Originally Posted by dammage79

Chris Johnston ‏@reporterchris 7m7 minutes ago
The #coyotes have filed a restraining order against the city of Glendale. Ugly situation.

Why? I'm sure in the grand legal scheme of things this makes sense but I don't get it.

The restraining order would be seeking to prevent the city from actually terminating the lease and contract until the legal situation resolves.

At a simpler level, it would also prevent the city from simply locking the team out of the arena as an additional pressure tactic.

[Lanny_McDonald]

Originally Posted by ForeverFlameFan

That is exciting news. The Coyotes are going to do way better downtown.

The Coyotes won't last long enough to see a new arena. This is such a joke. You make it sound like the Mayor can just snap his fingers and lands and a new arena become a reality. We're talking at least five years before anything tangible is in place, and that is if the City of Phoenix can weather the political storm that will ensue for the financing of a new arena. The City of Phoenix does not have the money to be building a new arena nor contributing to it. When they are reducing pay, laying off people left and right, it would be suicide for the City to get involved.

[ForeverFlameFan]

Originally Posted by New Era

The Coyotes won't last long enough to see a new arena. This is such a joke. You make it sound like the Mayor can just snap his fingers and lands and a new arena become a reality. We're talking at least five years before anything tangible is in place, and that is if the City of Phoenix can weather the political storm that will ensue for the financing of a new arena. The City of Phoenix does not have the money to be building a new arena nor contributing to it. When they are reducing pay, laying off people left and right, it would be suicide for the City to get involved.

When did I say that it's going to happen in a snap? I am simply stating that a whole lot more people are going to go to the games because it's not in freakin' Glendale.

The owners already stated that they are staying here in AZ, whether fans of other teams like it or not.

[FlamesAddiction]

Realistically, what is the likely time frame that we can expect for the arena lease termination legality to be settled? Just based on how slow other aspects of this saga have been, is there any chance that it is actually decided by September? And if it isn't, are they allowed to stay in the arena until it is solved?

[CroFlames]

Originally Posted by ForeverFlameFan

When did I say that it's going to happen in a snap? I am simply stating that a whole lot more people are going to go to the games because it's not in freakin' Glendale.

The owners already stated that they are staying here in AZ, whether fans of other teams like it or not.

That's great that they stated that. Where are they going to play if Glendale locks them out of their rink?

[_Q_]

Originally Posted by FlamesAddiction

Realistically, what is the likely time frame that we can expect for the arena lease termination legality to be settled? Just based on how slow other aspects of this saga have been, is there any chance that it is actually decided by September? And if it isn't, are they allowed to stay in the arena until it is solved?

It'll happen on Monday

[GGG]

Wasn't the speculation that this group bought the coyotes with the intent of hitting their losses clause and then moving the team. They just needed to be good soldiers and then they get a relocation fee instead of paying the expansion fee.

So if that speculation was true wouldn't these guys be excited and just moving up their timeline for moving?

[Resolute 14]

Originally Posted by FlamesAddiction

Realistically, what is the likely time frame that we can expect for the arena lease termination legality to be settled? Just based on how slow other aspects of this saga have been, is there any chance that it is actually decided by September? And if it isn't, are they allowed to stay in the arena until it is solved?

Realistically, it will be months or years before the lawsuits resolve. And probably by mutual agreement before it reaches a jury.

The question of whether they are allowed to stay in the arena will depend on if the team gets the injunction. If the Coyotes can prevent Glendale from terminating the lease, even temporarily, then they would remain committed to the facility, and the city would have to keep it open to them.

If a judge rejects the injunction request and the city terminates the lease, then the Coyotes will either have to negotiate a new agreement or look elsewhere.