Phoenix CVII: Can yet the lease of my true love control

kdb209 · Jul 23, 2015

Fugu · Jul 23, 2015

To get things started with the development that the two parties have agreed to a new lease, terms:

http://www.foxsports.com/arizona/st...n-amended-lease-agreement-with-coyotes-072315

http://www.azcentral.com/story/news...coyotes-arena-deal-dispute-resolved/30571819/

And:

http://www.azcentral.com/story/news...lendale-proposed-coyotes-arena-deal/30578215/

A 2-year deal
The agreement would terminate on July 30, 2017.
...
This would also eliminate the early termination clause that was part of the original deal, which allowed the team to leave by 2018 if it sustained significant losses.

Tindall and Frisoni iced
As part of the deal, Coyotes general counsel Craig Tindall and Julie Frisoni, who had done consulting work for the team, cannot be employed in any way by the Coyotes.
...
Base rent stays the same
The annual base rent paid by the Coyotes to the city remains the same at $500,000.

City can change arena manager
Under the agreement, the city would be able to replace the arena manager after June 30, 2016.

No surcharges and parking money for Glendale
The city would agree not to collect a surcharge on tickets for hockey games and for non-hockey events. Also, the team would keep all the revenue from parking fees, which the city receives under the existing deal.

I believe it was established that the Coyotes could continue to collect hockey game revenues for the second year in the case that a new arena manager is appointed, and that the new manager could not impose additional fees on the team. Payments to IA would continue on a pro rated basis if a new AM wasn't appointed after the first year.

The Feckless Puck · Jul 23, 2015

Don't know if it was specified but I believe IA also keeps all of the naming rights revenue as well, don't they?

Fugu · Jul 23, 2015

The Feckless Puck said:
Don't know if it was specified but I believe IA also keeps all of the naming rights revenue as well, don't they?

Yes, that's correct.

cutchemist42 · Jul 23, 2015

So if Glen. decides change arena managers for 2016, IA still gets the $6.5mil but no longer manages the arena? Or they lose the $6.5mil but can still stay? Is there a way the Yotes can relocate after 1 year by their own choice? How guaranteed is 2 years?

Just a little confused here....

Melrose Munch · Jul 23, 2015

@Feckless Peck

This was never about keeping teams out of Canada. It was about protecting markets like Quebec so the league could gouge them for expansion fees. Now that they have, they have no reason to fight for Arizona anymore. Very shady and low class.

Fugu · Jul 23, 2015

cutchemist42 said:
So if Glen. decides change arena managers for 2016, IA still gets the $6.5mil but no longer manages the arena? Or they lose the $6.5mil but can still stay? Is there a way the Yotes can relocate after 1 year by their own choice? How guaranteed is 2 years?

Just a little confused here....

There are two pieces to this-- IA as the arena manager, and that's where they get $6.5 MM. That goes away after the first year IF COG hires a new arena manager. Otherwise, IA keeps getting paid through year 2 if there's no new AM (prorated if partial year).

The Yotes will play there for two more years. They will pay rent of $500K, but have a right to collect all revenues from hockey games, and the arena naming rights through the second year.

BattleBorn · Jul 23, 2015

cutchemist42 said:
So if Glen. decides change arena managers for 2016, IA still gets the $6.5mil but no longer manages the arena? Or they lose the $6.5mil but can still stay? Is there a way the Yotes can relocate after 1 year by their own choice? How guaranteed is 2 years?

Just a little confused here....

Without seeing the new agreement, it's important to remember that IceArizona is actually two entities. IceArizona Manager and IceArizona Hockey. IA Manager manages the arena and IA Hockey owns the Coyotes.

I would assume, just based on what has been shown so far (and I could very easily be wrong) that IceArizona Manager will manage the arena and IceArizona Hockey will sign a lease with the City of Glendale versus the previous arrangement, in which IA Manager and IA Hockey were both party to a single contract that was all encompassing.

CasualFan · Jul 23, 2015

The Feckless Puck said:
Two years (at best) of "I told you so" and assorted grave-dancing is going to be rough.

Tindall's grave is one of the few worth dancing on, IMO. But I can appreciate that it's probably impossible to distinguish that from all the relocationist celebrations

cheswick · Jul 23, 2015

cutchemist42 said:
So if Glen. decides change arena managers for 2016, IA still gets the $6.5mil but no longer manages the arena? Or they lose the $6.5mil but can still stay? Is there a way the Yotes can relocate after 1 year by their own choice? How guaranteed is 2 years?

Just a little confused here....

They lose the $6.5mm but maintain their other revenue streams I believe. Naming rights, concessions, etc.

blues10 · Jul 23, 2015

Some interesting developments today. A one year AMF and the Coyotes playing in the building for 2 years possibly under a new arena manager.

Regardless of relocation talk there will be a few things to watch for. Glendale is most certain to send out an RFP for an arena manager at its earliest possibile date next June. I wouldn't expects IA's bid to be very competitive. I would also expect that companies associated with the NHL not bid. No AEG, Spectra or anyone associated with the NHL.

I don't expect IA to see much expansion money if any. They need to repay the NHL $85 million.

It looks like Leblanc, L'ill Gary and Woods didn't have as good of a case as they had spouted off about when Leblanc was on his school girl media tour.

Whoever is the actual majority owner of the franchise should remove CEO big Tony from his daily duties with the team. The CEO is most likely directly responsible for IA having been forced to re-work this lease. I have no doubt that HR did not hire Tindal but Leblanc himself. Leblanc should get a business "Bozo" of the year award. What a fool! :shakehead

I had predicted a 1 year AMF in the 6-10 million range. Pretty much what happened. If IA does not remain as arena managers I do not see this team staying put.

Very astute of Morgan to point out that the outclause is removed. Really an outclause in a two year deal. Who needs it. The outclause is in 2 years you fool. :nod:

Major4Boarding · Jul 23, 2015

Missed my opening at the beginning, Since its #107

Sonnet CVII

Not mine own fears, nor the prophetic soul,
Of the wide world, dreaming on things to come,
Can yet the lease of my true love control,
Supposed as forfeit to a confined doom.
The mortal moon hath her eclipse endured,
And the sad augurs mock their own presage,
Incertainties now crown themselves assured,
And peace proclaims olives of endless age.
Now with the drops of this most balmy time,
My love looks fresh, and death to me subscribes,
Since spite of him I'll live in this poor rhyme,
While he insults o'er dull and speechless tribes.
And thou in this shalt find thy monument,
When tyrants' crests and tombs of brass are spent.

The Feckless Puck · Jul 23, 2015

CasualFan said:
Tindall's grave is one of the few worth dancing on, IMO. But I can appreciate that it's probably impossible to distinguish that from all the relocationist celebrations

Tindall's a cockroach - he won't have a grave to dance on because he'll show up somewhere else (Ferguson... let it be Ferguson!).

No, the gravedancing is already going on. I knew it was coming; it's just hard not to be angry when some of it is coming from fanbases who lost teams of their own and then have gotten, or are close to getting, them back. Sometimes, hockey fans can be the absolute worst.

KGL · Jul 23, 2015

So what are the chances the Yotes remain in Arizona when this two year deal is up?

Seems like just the right amount of time for Seattle to get an arena built...

Fugu · Jul 23, 2015

CasualFan said:
Tindall's grave is one of the few worth dancing on, IMO. But I can appreciate that it's probably impossible to distinguish that from all the relocationist celebrations

With Quebec getting a team most likely, there aren't any Canadian destinations for a relocation candidate. Hamilton doesn't have an arena the NHL is willing to consider, and no owner. TO2 is in the same boat as Seattle (no arena), but clearly the NHL would retain this market as an expansion option, not a relocation one.

Simply put, there really aren't any "relocationists" left at this point. Seattle hopefuls may want a team, but the arena is the sticking point, not the team price. And both Seattle and Portland are new on the scene since this saga started in 2008. The so-called relocationists at that time were the Winnipeg and Hamilton fans. Later, the QC crowd showed up after Quebec City started work on an arena.

blues10 said:
<snip>

Very astute of Morgan to point out that the outclause is removed. Really an outclause in a two year deal. Who needs it. The outclause is in 2 years you fool.

Yes, the point is moot since it's a two year deal, and COG now has an out for the AM, and the team out in two years, something they didn't have before but were on the hook for 15 years.

The Feckless Puck said:
Tindall's a cockroach - he won't have a grave to dance on because he'll show up somewhere else (Ferguson... let it be Ferguson!).

No, the gravedancing is already going on. I knew it was coming; it's just hard not to be angry when some of it is coming from fanbases who lost teams of their own and then have gotten, or are close to getting, them back. Sometimes, hockey fans can be the absolute worst.

As my first response above indicates, I'm not really sure why there's any grave dancing going on. The previously vocal groups have or will have NHL teams now, so the Coyotes aren't really in play for them. A destination isn't very clear unless one of the would-be expansion markets is the relocation candidate, and I have a hard time seeing that happening.

kdb209 · Jul 23, 2015

Major4Boarding said:
Missed my opening at the beginning, Since its #107

No. That's too damn good.

Fugu · Jul 23, 2015

Worst title change ever. :squint:

How's anyone supposed to know it's the Phoenix/Arizona/Glendale thread? :rant:

The Feckless Puck · Jul 23, 2015

Fugu said:
With Quebec getting a team most likely, there aren't any Canadian destinations for a relocation candidate. Hamilton doesn't have an arena the NHL is willing to consider, and no owner. TO2 is in the same boat as Seattle (no arena), but clearly the NHL would retain this market as an expansion option, not a relocation one.

Simply put, there really aren't any "relocationists" left at this point. Seattle hopefuls may want a team, but the arena is the sticking point, not the team price. And both Seattle and Portland are new on the scene since this saga started in 2008. The so-called relocationists at that time were the Winnipeg and Hamilton fans. Later, the QC crowd showed up after Quebec City started work on an arena.

This is splitting hairs, though, trying to reduce these sentiments to a niche of people wanting a team for their own market. The prevailing opinions that I would term "gravedancing" are from people who believe that Arizona never should have had a team in the first place. To these people it doesn't matter where the Coyotes go so long as they go somewhere besides Arizona. Those are the folks who are happiest about today's news, and they come from every side. Hell, I've seen Nashville and Columbus fans joining in on the party, which, given their histories, really strikes me as ironic.

LadyStanley · Jul 23, 2015

http://www.nhl.com/ice/news.htm?id=775496
NHL announcement there's an agreement

http://www.thehockeynews.com/blog/coyotes-city-of-glendale-come-to-agreement-resolve-legal-battle/
THN take

http://prohockeytalk.nbcsports.com/...d-arena-lease-putting-this-dispute-behind-us/
NBC take

http://www.cbc.ca/sports/hockey/nhl/coyotes-glendale-agree-to-amend-arena-lease-1.3165342?cmp=rss
AP story on upcoming vote

http://www.cbssports.com/nhl/eye-on...ch-agreement-to-end-legal-dispute-amend-lease
CBS take
Including denied rumor that team is being sold to Foley and moved to Vegas in 2016.

http://www.sportingnews.com/nhl/sto...greement-gila-river-arena-glendale-settlement
Slover's take

https://glendale-az.legistar.com/MeetingDetail.aspx
Link to (proposed) amended lease

The Feckless Puck · Jul 23, 2015

If you are interested in hearing Craig Morgan's take on this, he will be on arizonasports.com in 5 minutes to speak about things.

Edit: I listened and learned nothing except that everyone thinks a Scottsdale arena is a magic wand that will make all the problems go away.

Fugu · Jul 23, 2015

The Feckless Puck said:
This is splitting hairs, though, trying to reduce these sentiments to a niche of people wanting a team for their own market. The prevailing opinions that I would term "gravedancing" are from people who believe that Arizona never should have had a team in the first place. To these people it doesn't matter where the Coyotes go so long as they go somewhere besides Arizona. Those are the folks who are happiest about today's news, and they come from every side. Hell, I've seen Nashville and Columbus fans joining in on the party, which, given their histories, really strikes me as ironic.

Maybe I'm being overly pragmatic.

With some of the other spots taken now, and 14 other groups failing to submit a bid, it sure doesn't leave a lot of wiggle room for any demand to move the team since there isn't any obvious candidate or interest [apparently].

Llama19 · Jul 23, 2015

Fugu said:
Worst title change ever.

How's anyone supposed to know it's the Phoenix/Arizona/Glendale thread?

Second that... :shakehead

Fugu · Jul 23, 2015

Llama19 said:
Second that...

Squeaky wheels get the grease. :innocent:

htpwn · Jul 23, 2015

So... when can we expect the $200 million lawsuit against the city? Anybody? Bueller? Bueller?

LeBlanc certainly earned his clown moniker over the past two months. The theatrics he put on full display following the voiding of the lease wouldn't look out of place in a traveling circus. Which, funny enough, is sort of what the NHL has become... at least when it involves the Coyotes.

I know the general assumption seems to be that this is the beginning of the end for the Coyotes, and I'd be inclined to agree, but at the same time... we have said that about five times before. Glendale is the land of the unexpected and for all we know, the Coyotes draft Austin Matthews next year and the kid steps in and has a similar effect Crosby had on Pittsburgh. Or the team somehow makes it work downtown. Or Bettman, in his continued and baffling fascination with the Phoenix market, convinces the other owners to write down the team's debt. Who knows?

Practically speaking, though, you have to figure the $6.5 million AMF (even with additional revenues) is a recipe for a bloodbath on the team's balance sheets. The team also looks to have not one, but two lame duck seasons, and if news starts to leak out of Seattle... welp. Two weeks replaced by two years and then just maybe we'll finally have an outcome to this saga.

Melrose Munch · Jul 23, 2015

The Feckless Puck said:
This is splitting hairs, though, trying to reduce these sentiments to a niche of people wanting a team for their own market. The prevailing opinions that I would term "gravedancing" are from people who believe that Arizona never should have had a team in the first place. To these people it doesn't matter where the Coyotes go so long as they go somewhere besides Arizona. Those are the folks who are happiest about today's news, and they come from every side. Hell, I've seen Nashville and Columbus fans joining in on the party, which, given their histories, really strikes me as ironic.

MOD This is sad. And I as said to you upthread, you got played by the NHL. Now Quebec is one, they'll send this team to seattle and and say they did everything they could.

Phoenix CVII: Can yet the lease of my true love control

Registered User

RIP Barb

Registered Loser

RIP Barb

Registered User

Registered User

RIP Barb

50% to winning as many division titles as Toronto

Tortious Beadicus

Non-registered User

Registered User

Unfamiliar Moderator

Registered Loser

Auston 3:16

RIP Barb

Registered User

RIP Barb

Registered Loser

Registered User

Registered Loser

RIP Barb

Registered User

RIP Barb

Registered User

Registered User

Ad

Ad

Ad