Kukla's Korner Hockey
by Paul on 05/06/13 at 11:14 AM ET
from Dan Bickley at azcentral,
Word is, the investor group has raised $240 million, which is $70 million more than the asking price. It’s willing to absorb $40 million in losses over the first four years of a 15-year deal. It will be seeking an out clause if the economics haven’t changed for the better, likely after five years.
It’s committed to re-signing Don Maloney and Dave Tippett, arguably the best general manager/coach tandem in the NHL.
That’s the good news.
The trick will be if Glendale can reach a lease agreement deal that works for everyone. The city understands the importance of the Coyotes to Westgate, the future of Jobing.com Arena and the Valley’s image as a big-league market featuring all four major professional sports. But it will not bend like it did for Greg Jamison, who would’ve received $308 million over 20 years.
more including Bettman and Daly will be in Phoenix tomorrow...
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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.
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