Hawker14
Registered User
- Oct 27, 2004
- 3,084
- 0
I apologise in advance if this question was already answered or no longer applicable: Does Glendale still owe the NHL 25 million at the end of the season? And if so, has the new city council indicated one way or another on whether they plan on paying the bill?
The NHL had full rights, under the 2011 lease amendment, to extend the lease at their sole discretion. It hasn't been publicly released if they have extended the lease, or under what terms.
I would suggest however, that the fact they are playing games at the Jobing.com Arena is proof that they have obviously extended their lease, and thus will receive, at the very least, a pro-rated portion of the annual $25m as consideration of their executing their contractual obligations.
It doesn't make sense otherwise that they are lease-less tenants, at least to me anyway.
(However, there is a pretty smart lawyer here who can give a much better opinion of the situation!)