Arizona Coyotes: Glendale Agree On Amended Lease

By William Grigsby | Jul 23, 2015

BREAKING ARIZONA COYOTES NEWS

The Two Sides FINALLY Work Out Their Differences, City Council To Vote On Amended Arena Lease On July 24th

The council meeting on Friday will take place at 9 a.m., and the amended version of the new lease agreement can be viewed on their website: CLICK HERE

If the city approves the new lease agreement (it’s very likely that will happen), it will mean the Arizona Coyotes will continue to play there for at least the next two seasons. It will bring an end to the bitter legal battle which was about to ensue on July 31, when the evidentiary hearing between the two sides was to take place in court.

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The details of the deal find the Coyotes collecting all hockey-related revenue which previously were going to Glendale. They include a part of the naming rights, ticket surcharges, and parking revenue. The city in return has their $15 million payment per year to the Arizona Coyotes to manage the arena, reduced significantly to $6.5 million a year. The out-clause of the original 15-year, $225 million agreement has been removed.

"“We have come up with a resolution that works for both sides and is best for the team, our fans, the city and most importantly the taxpayers,” Coyotes president, CEO and co-owner Anthony LeBlanc said in a statement. “Neither side benefits from a long, drawn out legal battle. What’s important is putting this dispute behind us and focusing on growing the Coyotes business and in turn, further growing revenues for the entire Westgate Entertainment District.”"

"“This decision will bring much-needed certainty to our fans and sponsors about our near-term future and an end to the uncertainty brought about through this legal action. We know that hockey works in the Valley and we are committed to Arizona for the long term. We thank Coyotes fans and sponsors for their incredible support throughout this process. They have proven that they are among the most loyal and ardent in the NHL.”"

Glendale acting city manager, Dick Bowers released this statement:

"“This revised agreement represents a positive outcome for both the city and the Coyotes. It also allows us to move forward in a way that keeps an important economic driver in our community. That’s important for business and it’s important to our citizens.”"

The fact that many believed the Arizona Coyotes had the stronger case, that is all put aside now with hopes the two sides can move forward. The team has declared that the uncertainty created a cloud of doubt for the future of the team.

It disabled them in signing free agents, and even made it difficult to re-sign restricted free agent Mikkel Boedker to longer than a one-year contract. Boedker’s agent, Jarrett Bousquet now has hopes the team can talk again in January to see if the terms of his client’s contract can be extended. Boedker is an intregal part of the Arizona Coyotes team, and is returning from a season-ending injury last season.

It also made it DIFFICULT to sell suites, attract new sponsors, or sell additional season ticket packages. But the team has been through difficult times before, and hopes to put the bad times behind them.

So, like any disagreement, if the two sides can sit down and discuss their differences, good results can happen. Now the city of Glendale can go to their citizens with the new agreement showing that they are looking out for their constituents. Likewise the Arizona Coyotes can concentrate on playing NHL hockey, and not arranging court dates for a lawsuit resolution.

It’s a WIN-WIN for both sides…. FINALLY.

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