Phoenix Coyotes Staying in Glendale

Categories: Coyotes
coyotes-thank-fans.jpg
Norm Hall via NHL.com
The Phoenix Coyotes (soon to be the Arizona Coyotes) are staying in Glendale.

As has been the case every time it's been said over the past few years that the Coyotes are staying, there are a few caveats.

The Glendale City Council voted Tuesday night to approve an arena-management deal with IceArizona Acquisition, a company owned by Renaissance Sports & Entertainment Group.

Caveat one is that the RSE Group doesn't exactly own the Coyotes right now. All indications we've seen from news reports are that the actual purchase of the team is a formality at this point.

Caveat two is that the agreement has an opt clause, so you can tell the cities that wanted to take the Coyotes to suck it, but you would have to tell Seattle and Quebec City to suck it, for now. The buyers have an out-clause after five years, which would allow them to leave town if they've lost enough money.

A lot of the dollar figures are based on projections, but Glendale agrees to pay the owners $15 million a year, although it's supposed to get a chunk of that back, in hockey revenue.

The thought is, that's a lot less damaging for the city's wallet than just having the Coyotes pack up and leave Jobing.com Arena and the Westgate center without hockey.

Although conventional wisdom says never get excited (or pissed) about a potential Coyotes deal until it's 100 percent certain, it looks like this may be the real deal.

That said, we'll leave you with this video of Shane Doan beating up Dustin Brown:


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Follow Matthew Hendley on Twitter at @MatthewHendley.


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4 comments
royalphoenix
royalphoenix

Westgate Center without hockey...hell nobody goes anyway. Hendley u understand that westgate has been in foreclosure for quite sometime right ?

JohnQ.Public
JohnQ.Public

5 years. 5 freaking years! Are you kidding me?!?!? Glendale only secured the team for 5 years. The malfeasance of that governing body never ceases to amaze me.

marcy
marcy

@JohnQ.Public 

Don't think of it as just 5 years, think of it as tossing another $75M of taxpayer money down the rat hole of professional sports.

JohnQ.Public
JohnQ.Public

@marcy Professional sports are important to creating a complete community, just likes arts and culture is.  The City of Phoenix spends $500,000 annually to support the arts and the arts have an estimated $300 million annual economic impact to the City of Phoenix (in addition to the culture they bring).  Valley pro sports teams are estimated to have a $1.5 - $2.0 billion economic impact in the valley.  That doesn't include the impact of things like spring training which is estimated to generate $422 million in annual economic impact (up from $115 million 5 years ago) and marquee events like the NASCAR events that generate $400 million in economic impact and the Phoenix Open which generates $222 million in economic impact.  Lumping the Coyotes and the miserable situation created by the malfeasance of the City of Glendal with well run and highly contributing teams elsehwere in the valley is unfair.  Yeah, Glendal has made an absolute mess of themselves with the Coyotes and their arena, but don't paint all of the valley's professional sports with that same broad brush.

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