If both sides are announcing it, it is likely they know the vote outcome already.
The real problem is that this agreement is for 2 years only, so we might be back to square 1 in 2017.
Basically, the out clause that was removed wasn't removed. It just changed it's nature.
One wonders how much revenue the naming rights share and ticket/parking surcharges are worth? IIRC, the city paid a net total of about $8.5 million last year on the management deal. So unless what they give back to the team is worth less than $2 million, I'm not sure if the city is going to come out far ahead. Though at least it does cement costs a little better.
“The Coyotes are committed to Glendale and the State of Arizona.” He also said it was not the ownership group’s wish for a two-year deal and they wanted a 15-year deal to put all relocation rumors to rest.
“We believed in the original length of the deal and wished we could have had that here,” LeBlanc said.
A source, who wishes to remain nameless because he works closely with the league, said this team had more than one chance to move out of Gila River Arena if they really wanted to leave Glendale.
First, when the city canceled the contract, the city gave the team the chance to move. LeBlanc has said numerous times if this team wanted to leave, they could have at that time, but didn’t.
Then, according to my source, the team was given a 72-hour window during the league meetings in Las Vegas June 22 to negotiate with cities about a move before the 2015-16 season. Portland (Ore.), Seattle, Las Vegas, Oklahoma City and Quebec City were all rumored to have contacted the team about moving and all the cities were rebuffed by LeBlanc.
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I guess LeBlanc is a masochist or a true believer. Kudos for him putting his money up whatever the reason.
Maybe he's actually able to see the long term potential?
Quote:
That growth is already underway. USA Hockey reported a 51 percent increase in amateur hockey participation in Arizona in 2014-15. Arizona led the nation in total number of new USA Hockey memberships and had the second-highest growth rate.
Also, next year's expected first overall pick was born and raised in Scottsdale (and, unlike the other Arizona kids who have been drafted, isn't the son of a former NHLer, or a transplanted Canadian).
Of course, all of those things are nice, but they won't mean anything if it doesn't translate to ticket sales and/or tv viewers soon.
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Turn up the good, turn down the suck!
With their population you'd think they have potential but they've been waiting 19 years for a season that isn't a money loser. If they can handle the long term loses and the price of the franchise continues to rise, they could come out ahead. If they actually at some stage make a profit that will be a bonus.
Quote:
Hockey in the desert continues to be a questionable financial proposition, but Arizona Coyotes owners don't seem flustered that their organization lost $34.831 million in its most recent fiscal year announced Friday.
An audit released this week of the city of Glendale’s arena deal with the Arizona Coyotes claims problems in verifying the team’s financial losses, and contends the city may have been shortchanged in shared naming-rights and ticket-fee revenue.
The audit also shows the city believes the Coyotes losses might be higher than the $34.8 million the team reported in March.
Glendale seeks new arena manager; IceArizona may be out
