Glendale city manager wants to change terms of arena payment plan

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Greg Jamison reportedly has secured the funds necessary to purchase the Phoenix Coyotes, but that hasn’t been the end of this already lengthy saga.

Glendale city manager Horatio Skeete wants to change the terms of their $300 million, 20-year arena payment plan before they finalize the deal with Jamison, according to the Phoenix Business Journal and Lisa Halverstadt of the Arizona Republic.

Under the current proposal, Glendale would pay Jamison $92 million in the initial five years, but Skeete wants that reduced to $72 million.

If it turns out that Jamison doesn’t buy the team, but the NHL wants to continue to use Jobing.com Arena, then the league would need to renegotiate with Glendale.

That being said, Skeete still hopes to finalized the numbers with Jamison this week.

“The fact that we continue to talk gives me hope that we can come to an understanding of the city’s position, the city’s requirement for us to be successful in signing the deal,” Skeete said, according to Halverstadt.