TheLegend
Megathread Gadfly
Refresh my memory. Did the NHL receive two full $25 MM payments, and then has the third installment of $20 MM to be paid out over the next five years?
There were just two $25M payments pledged.
They originally paid out the first $25M for the 2010-11 season. For 2011-12 they agreed to pay another $25M, but had only placed $20M of it into the escrow account. The NHL never submitted a claim for that second $25M after the 2011-12 season for reasons only they know. The Yotes made the WCF that year which may have cut down on losses (if any, I don't recall anything being reported).
But then the CBA talks, lockout and short season came after that and the NHL negotiated a "month to month" AMUL agreement with Glendale (with the city not having to pledge anything for it).
The NHL was still entitled to make claim on that second $25 million since $20 million of it was still in escrow. They chose to offer the installment route as a way to facilitate the deal with IceArizona.