Glendale’s proposal to keep Coyotes is a doozy


The City of Glendale posted the details of their offer to Renaissance Sports and Entertainment (RSE) to help keep the Phoenix Coyotes at Arena. As you might expect from this ordeal, the details are dizzying.

The agreement has the Coyotes staying at Arena for the next 15 years as the arena’s anchor tenant with Glendale paying RSE $15 million a year to run the arena. There’s a catch to all this, however.

According to Mike Sunnucks of the Phoenix Business Journal, RSE has a five-year out-clause to move the team if they pile up $50 million (or more) in losses over that time frame. The City of Glendale has a lot of “unresolved serious concerns” with the deal. Those are:

  • The city bears all the risk if the revenue projected by Renaissance is not realized.
  • The deal requires a $15 million management fee to Renaissance. The city has budgeted $6 million to pay for part of the $15 million arena management fee and Renaissance has projected shared revenue streams to help bridge the gap. Should those projections not be realized, and the city does not receive the projected revenues, then the city would need to make up that loss.
  • The proposed agreement is for 15 years and does not allow for the city to terminate the deal if  revenue projections are not met as long as the Coyotes play in the arena.
  • The proposed contract can be terminated by Renaissance if their cumulative losses reach $50 million, and, in any event, after five years.

The plan is to have the proposal voted on on July 2. Should this deal not pass, the NHL could seek to move the team to Seattle immediately. Next Tuesday will be decision day one way or the other.

Panthers’ Crouse is going back to junior

2015 NHL Draft - Round One
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Lawson Crouse is going back to junior. The big 18-year-old winger confirmed it today on Twitter.

Crouse was drafted 11th overall in June by the Florida Panthers. Despite the club’s belief that Crouse could make “an immediate impact” on the roster, he finished the preseason with just two shots and one assist in three games.

Crouse will return to the OHL’s Kingston Frontenacs, with whom he’ll look to improve on his modest point totals from last season.

“I don’t think there’s any pressure on the kid,” coach Gerard Gallant said last week. “If he doesn’t make the team this year he goes back to junior … and will have a lot of success.”

Yes! Jagr’s bringing back the mullet

Ice Hockey - Day 6 - Czech Republic v Slovakia

The greatest mullet in sports history is making a comeback.

According to the Miami Herald’s George Richards, Jaromir Jagr says he’s bringing back the party in the back.

“I have to,” Jagr, 43, said.

Jagr’s teammate with the Florida Panthers, goalie Roberto Luongo, appears to have been the lead lobbyist in all this.

Anyway, this is fantastic.