City of Glendale to extend Coyotes lease agreement another 30 days
Once again, the lease agreement between the city of Glendale, the NHL and Greg Jamison is being extended by 30 days as they try to finalize the sale of the Coyotes.
Thanks to the lockout, it's easy to forget the Phoenix Coyotes remain unsold in the desert as Greg Jamison continues to try to finalize a deal with the NHL that has been in the works for nearly a year. Well, you can add another 30 days onto the window to get it done. Again.
The city of Glendale approved an arena lease deal in June that would have helped tremendously in selling the team to Jamison, but some city officials aren't fans of how friendly the deal is for the new owner. These officials want to scale back some of the money that the city originally agreed to put in. Since then, the 30-day window to get a deal done has expired. Multiple times, in fact.
That means it's time for another negotiating window.
E-mail from NHL Deputy Commissioner Bill Daly this afternoon on a #Coyotes status update: "Agreements have been extended for another month."— sonu munshi (@smunshi) October 9, 2012
Daly: "We are still working with Jamison and the City to close a transaction at the earliest possible date."— sonu munshi (@smunshi) October 9, 2012
This is the story that won't die, but the story that will never actually live, either. It has become a story that pops up every 30 days when they are extending the window to talk to try to reach a deal that works for everybody involved.
All along this crazy, sordid story there have been varying reports about how much money Jamison actually has to go through with a purchase. It seems pretty safe to say the former CEO of the Sharks would need at least some help from Glendale to handle costs at Jobing.com Arena for him to be able to purchase the team from the NHL.
In a way it's funny, actually, because similar to the NHL and NHLPA, Jamison and the city can't seem to find common ground on how much money should come from and where it should go.
While the lockout probably doesn't help the city all that much with some missed revenue, it might actually give this deal a little more time to work itself out. I'm not saying the NHL has completely forgotten about this issue, but having to deal with the labor dispute has probably taken at the least some heat off the situation that won't ever end.
At this point, though, might as well extend the negotiating window through the month of November to see what the election season brings.
There was perhaps some optimism this story would find its conclusion when Shane Doan ended his lengthy courtship period and re-signed with the Coyotes. The belief was he wouldn't re-sign in Phoenix if he didn't think the team was staying put. In the end, it still might, but it's going to take more time to find out, sticking with the years-long theme in the desert.
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