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30 More Days For The NHL/Glendale Relationship

from Lisa Haverstadt of the Arizona Republic, 

The National Hockey League will operate Glendale's hockey arena for another month.

The Glendale City Council on Monday directed staff to extend its arena management with the NHL for another 30 days, allowing Phoenix Coyotes suitor Greg Jamison more time to try to buy the hockey team, City Attorney Craig Tindall said.

"This provides a period of time that's necessary to make sure the entire transaction can occur," the city attorney said.

continued

Filed in: NHL Teams, d, | KK Hockey | Permalink
 

Comments

Keyser S.'s avatar

30 more days until doan announces his intentions.

The smileys don’t work :(

Posted by Keyser S. on 08/27/12 at 09:52 PM ET

Avatar

30 days until the next extension…

Or maybe if they follow through, they can still move the team by the time the lockout is over.

Posted by nosferatu from Albany, NY on 08/28/12 at 11:02 AM ET

BettmenSucks79's avatar

Can someone explain to me why Greg Jamison would close a deal for a money losing team that he can’t afford to run after he buys it when there could be a lockout and no chance any money coming in??? This whole deal is a facade….

Posted by BettmenSucks79 on 08/28/12 at 12:11 PM ET

shazam88's avatar

Can someone explain to me why Greg Jamison would close a deal for a money losing team that he can’t afford to run after he buys it when there could be a lockout and no chance any money coming in??? This whole deal is a facade….

Posted by BettmenSucks79 on 08/28/12 at 12:11 PM ET

Well, probably because he’s a fool.  Businessmen are often blindly optimistic, which is both a strength and a weakness. 

But in all seriousness, the financial support from Glendale is probably not going to be available forever.  If he doesn’t act on it and the league continues to operate the franchise, the odds of councilman putting up a political fight for the team in the future is probably close to zilch.  Presumably Jamison is trying to sell the idea to some potential partners with deep pockets by arguing that the franchise can be sustainable, and possibly even turn a small annual profit with the backing of Glendale (the Lie), and that if things go South, it’ll be financially advantageous to break the lease agreement and move, paying the penalty for breach, and turn a profit in the new location and / or sell the franchise at a premium.

Posted by shazam88 from SoCal on 08/28/12 at 12:40 PM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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