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The Latest On The Phoenix Coyotes

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...

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

Comments

Slumpy's avatar

Investor groups usually work out well for organizations, companies in general. Ask Chrysler and a company I once worked for that got ran into the ground by “investors” that knew nothing of the business they bought only cared about the money.
Give Glendale an AHL team so this NHL team can move to a market that is in need of one like Quebec City or anywhere in Ontario.

 

Posted by Slumpy from Detroit on 05/06/13 at 03:18 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.

Email Paul anytime at pk@kuklaskorner.com