Winnipeg Free Press - PRINT EDITION
Posted: 11/29/2012 1:00 AM | Comments: 0
GLENDALE, Ariz. -- The Phoenix Coyotes have taken a major step toward securing an owner.
All that's left is one last hurdle.
Glendale's City Council voted late Tuesday night in favour of a reworked, $320-million arena management deal with Greg Jamison, clearing the way for the former San Jose Sharks CEO to complete his purchase of the team from the NHL.
"The affirmative vote by the Glendale City Council is an important step toward the realization of a positive ownership resolution for the Coyotes and their fans," NHL Deputy Commissioner Bill Daly said in a statement Wednesday. "The National Hockey League looks forward to working with Greg Jamison to complete the sale process as expeditiously as possible."
The City Council approved a 20-year, $324 million deal for Jobing.com Arena in June, but, faced with growing financial constraints, city leaders sought to renegotiate the deal.
The council voted 4-2 in favour of the new deal, which cuts back Glendale's payments in the first five years, gives Jamison incentives to bring in more non-hockey events and issues penalties if there is an NHL lockout. The current lockout is in its 11th week and has wiped out more than 400 regular-season games, along with the NHL All-Star game.
The new arena deal requires Jamison to complete his purchase of the team from the NHL by Jan. 21, 2013, a deadline he was confident would be met. "I know they (city leaders) want closure very badly and so do I and the rest of the group," Jamison said after the meeting Tuesday night. "We're confident we can get there."
It's been a long wait.
The Coyotes have been run by the NHL the past three seasons, since former owner Jerry Moyes took the team into bankruptcy in 2009. The team still managed to be successful on the ice despite financial limitations, reaching the playoffs all three years, including the franchise's first trip to the Western Conference finals in 2011-12.
The Coyotes have had several potential suitors in that time and a deal with Chicago businessman Matthew Hulsizer appeared to be in place last year before the conservative watchdog group Goldwater Institute killed it by warning potential bond buyers to stay away from the Glendale offering because of a looming lawsuit.
Goldwater tried to stop the deal with Jamison, but the city council voted in favour of the lease agreement during the summer and Glendale voters in November's election upheld a 0.7 per cent sales tax increase.
With the council agreeing to the reworked arena agreement, Jamison must now complete his deal with the NHL and gain approval from the league's board of governors.
-- The Associated Press
Republished from the Winnipeg Free Press print edition November 29, 2012 D4
Having problems with the form?Contact Us Directly
Short-handed Jackets lose Jenner for 1-2 months
Sabres recall Grigorenko for game against Avs
Beleskey leads Ducks in 2-1 win over Habs
Hoffman leads Senators in win over Ducks
Hutchinson leads Jets to win over Bruins
Islanders edge Red Wings 2-1
Kinkaid wins first, Devils snap slide with 3-2
Detroit's Howard leaves with lower body injury
Howe's family reports rapid improvement
Gibbons injured, Blue Jackets recall Wennberg, Goloubef
Kings defenceman Robyn Regehr on injured reserve
Predators recall Stalberg, put Paul Gaustad on IR
Penguins Olli Maatta tests positive for mumps
Montoya has mixed emotions about Cuba
LA Kings erase 3-goal deficit, move past Blues 6-4
Tennyson, Goodrow lead Sharks past Oilers
Fehr's OT goal lifts Capitals over Blue Jackets
Bolland gets winner in SO as Panthers beat Flyers
Comeau leads Penguins over Avalanche 1-0, OT
Faulk has goal, assist in Canes' win over Leafs
Jets' ailing defence suffers another blow
NHL seeks to reduce its carbon footprint
Oilers, Barons end affiliation agreement
Predators place F Viktor Stalberg on waivers
Penguins star Crosby nearing return from mumps
Senators release Lazar to play for Canada
Vet looks to return to Flyers lineup
Lehtonen the difference early for Stars
Lehtonen, Stars shutout Canucks 2-0
Eriksson's OT goal gives Bruins 3-2 win vs. Wild
Ottawa's Anderson makes 34 saves, blanks Devils
Habs face choices as Galchenyuk shines
NHL fines Predators forward Neal for diving
Crosby returns to ice, 3 Penguins tested for mumps
Sabres return Grigorenko to AHL Rochester
Panthers outlast Capitals in longest NHL shootout
Hamonic helping kids heal