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Strombone1

Doan rolled the dice and it pays off - Coyotes voted to stay in PHX

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12:47AM EST November 28. 2012 - GLENDALE, Ariz. - The Glendale City Council voted 4-2 Tuesday night to enter into a 20-year, $320 million arena management deal with Phoenix Coyotes suitor Greg Jamison.

Jamison still must purchase the Coyotes from the NHL, which has owned the franchise since former owner Jerry Moyes filed the team into bankruptcy in 2009.

"Our goal is to work with the NHL and close a deal as quickly as possible," said Jamison, former president and chief executive of the San Jose Sharks.

Mayor Elaine Scruggs and Councilwoman Norma Alvarez had opposed the deal, calling the payments to Jamison to manage the city-owned hockey arena, which average $15 million annually, a subsidy.

Interim City Manager Horatio Skeete has said that keeping the Coyotes might be in the long-term best interest of the city, but it requires too many cuts in the near term. it would require the city to lay off employees to cut $17 million within five years. Without the team, Skeete estimates the city would need fewer layoffs to cut about $10 million. He estimates the city would lose money either way.

Jamison on Tuesday afternoon said he hasn't considered the council rejecting the deal. "We have concentrated on working with the city for a positive outcome," he said.

This is the second time in five months that the council will vote on an agreement with Jamison.

In June, the council approved a $324 million deal, but later sought to renegotiate. The reworked deal, which was voted on Tuesday night, lightens arena management payments in the first five years, provides incentives for Jamison to bring more non-hockey events and penalties for NHL lockouts, which have so far erased this season.

Sonu Munshi writes for the Arizona Republic

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You realise that Jamison hasn't proven he's got enough money or investors yet....

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You realise that Jamison hasn't proven he's got enough money or investors yet....

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Did anyone else think that this saga had died off just before the CBA expired?

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I thought there would be comments or something from Doan considering the title. Nothing has paid off for him yet, not until Jamieson gets the cash in.

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Jamison still hasn't bought the team, so it's not over yet.

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Wouldn't it be interesting if the NHL decided to loan him the money he's short to buy the team just to wash their hands of it? It'd probably be cheaper than the money they've been sinking into the team for the past couple of years.

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Dear lord. Their city is run by idiots. Just let the team die and relocate to a better city.

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Wish I could roll the dice and end up getting over $21M to be semi-retired. ::D

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Wish I could roll the dice and end up getting over $21M to be semi-retired. ::D

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Best thing to have happened to the Canucks organisation since the SCF run is that Doan didn't sign with them. MG is lucky Doan signed with PHX err Glendale Coyotes. Otherwise he'd be stuck with a terrible contract for years to come.

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I cannot remember how big a bonus Doaner got for signing under the old CBA. It makes no dif to him with the lockout stretching into next season. IMHO good for him. I still think the Yotes end up in Seattle as soon as their arena is built. There will be an exit clause.

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now watch them win the lottery and win the cup within 3 years

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$2 million bonus out of Doan's $6 mill salary this year.

I don't think the Yotes will be going anywhere for a long long time now. The city has agreed to give them $320 million over the next 20 years.

I'd love to see a team in Seattle though.

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So once again the league quietly moves on to the next schmuck to pretends to want to buy the team.

Please someone make it stop? Just move the team to Seattle or somewhere, or let the ownership group for Seattle to buy the team.

It's like a terminal patient on life support.

Pastor to lead investor group seeking to purchase Coyotes

TSN.ca

It appears Darin Pastor, founder and CEO of Capstone Affluent Strategies, is leading a group of investors that are interested in purchasing the Phoenix Coyotes.

"Hockey is in my DNA,” said Pastor. “My family has enjoyed a love affair with the sport for over three generations. When we saw the prospect to get involved with the NHL and purchase the Coyotes, it was like a dream come true.”

If approved by the league's Board of Governors, Pastor's group would have controlling interest of the team and seek to keep the franchise in Glendale.

"If we have an opportunity to acquire the franchise, we will do everything we can to make sure it stays in the great city of Glendale and continues to enhance the Phoenix metropolitan area," said Pastor, who works out of Irvine, California, but is a native of Buffalo, New York.

On Wednesday, NHL commissioner Gary Bettman told Glendale Mayor Jerry Weiers that a new group of investors were interested in the Coyotes, but at the time Bettman did not divulge the identity of the group.

Bettman contacted Weiers a day after the Glendale City Council commissioned Beacon Sports Capital Partners of Needham, Massachusetts to take over the search for a management company to run the arena, as well as to handle the negotiations between the city of Glendale and prospective Coyotes owners.

Pastor's group represents the first potential buyer the Coyotes franchise has had since Greg Jamison failed to meet a deadline in January.

“We've been telling people now for two months to basically put something on the table and no one has done that. And we're in the position where we can't wait any longer,” Weiers said Tuesday after the council approved the Beacon deal.

The Coyotes have been run by the NHL for the past three seasons, since the team went into bankruptcy in 2009 under former owner Jerry Moyes.

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Like every other group that has straggled in wait until they see the books. If this franchise doesn't go to Seattle then Seattle gets an expansion team within 2 years. With all the big money involved with the Hanson group there is no way the NHL doesn't bend over backwards to get then involved in a franchise.

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NHL need to move phx where a profit can be made...........stop putting team in cities no one cares about.......until Bettman is gone we won't see southeast teams go to a new and real hockey market

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Like every other group that has straggled in wait until they see the books. If this franchise doesn't go to Seattle then Seattle gets an expansion team within 2 years. With all the big money involved with the Hanson group there is no way the NHL doesn't bend over backwards to get then involved in a franchise.

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