In June, when the Glendale City Council voted to void an agreement that would allow the Arizona Coyotes to play in Gila River Arena, he was not bashful in saying there was no way the franchise would renegotiate the deal.
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The pact ends a legal battle that again cast doubt over the team’s immediate future in Arizona, but still leaves questions as to what may happen in the longer term.
The new agreement grants the team the right to collect all avenues of hockey-related revenue – which previously went to the City of Glendale – including a chunk of the arena’s naming rights, ticket surcharges and parking revue.
–The Calgary Flames signed forward Lance Bouma to a three-year contract worth a reported $6.6 million. Also, the deal rips up an out-clause for the Coyotes that indicated the hockey team could leave after five years if losses exceeded $50 million or more by 2018.
The new deal comes after the City Council voted June 10 to terminate the original arena lease agreement, citing a conflict-of-interest law.
“This is fair arrangement for the city, a fair arrangement for the taxpayers and a fair arrangement for the Coyotes and our fans and our sponsors”, Coyotes co-owner, president and CEO Anthony LeBlanc said.
The seven-member Glendale City Council voted on Friday to approve the deal.
“As I sat in the war room and heard some of the conversations he was having with agents, and hearing that there were players who didn’t want to come or look at the Coyotes because of the uncertainty with the city, it was a red flag”, LeBlanc told Burns and Gambo on Arizona Sports 98.7 FM Friday. At the same time, we represent our citizens and we have to uphold that. “It also allows us to move forward in a way that keeps an important economic driver in our community”. It could also open the door for the Coyotes to negotiate for a new arena in downtown Phoenix.
The core of the settlement indicates either party now can opt out of the agreement after two years. “This is a decision that benefits the entire city, the Coyotes, the Coyotes fans, which have proven they are very vocal”.
“This isn’t about saving face… this is about saving our franchise”, LeBlanc said. Boedker signed a one-year, $3.75 million deal July 7. IceArizona AcquisitionCo., LLC purchased the team from the league in July 2013.
The Coyotes have faced an uncertain future since former owner Jerry Moyes took the team into bankruptcy in 2009. The news that Bunting will eventually don the Sedona Red now makes four prospects that the Coyotes have now come to terms with on entry level deals since the start of the summer.
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The interaction between city officials and team representatives had been tense over the last six weeks, but LeBlanc and Weiers both said that it was all about business and they have a strong personal relationship.
