I would agree. His lawyer is with Sidley & Austin in Chicago. I doubt he saw the letter before Hulsizer sent it.
What amazes me it there are some very capable lawyers working on this deal, yet everyone seems ready to accept that the GWI is capable of deciding the deal is illegal. They call the deal illegal yet all they really have is an opinion, shaped by a broader political agenda. No "judge" has decided anything.
If I had to speculate, I would say the modifications to the lease agreement are to make the sale of the bonds cheaper with the full expectation that the GWI will sue after the deal closes. It appears they are looking to make this as lock tight as possible. I'm also not sure that this needs to go before the council for approval, since it only strengthens the deal for the CoG, and the council gave the City Manager the right to negotiate the lease. However, they may put it up for vote next week.
If that is the case, the strategy is pretty solid. Keep the option of selling the bonds and closing the deal open, don't annouce anything until the season is nearly over and hedge your financial bets on both ends.