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Here We Go Again! Ice Edge In Trouble?
Posted By Shane Hoopfer On Aug 3 2010 @ 1:24 pm In Phoenix Coyotes | 2 Comments
Just when you thought it was over. Out from the mist comes the city of Glendale with a hatchet just like out of a 1980′s horror flick. According to Sportsnet’s John Shannon the City of Glendale is once again talking with three other groups about purchasing the Phoenix Coyotes and a lease agreement, one of the groups apparently is… you guessed it.. Jerry Reinsdorf!
Now apparently the progress on a new lease deal with Ice Edge has stalled and the city is wondering if Ice Edge actually can come up with the financial backing to purchase the team. Lets remember that the price tag for the Coyotes is set in stone at $160M according to the NHL.
Personally I feel this is just the city trying to make a subtle power move to get a more favorable lease deal out of Ice Edge. I just can’t see anyone who is going to drop $160M on the Coyotes without having the ability to move the team in a couple years.
Seeing the source that this story came from it would not shock me at all if the NHL is working with the city to try and turn the pressure up on Ice Edge, after all I was under the impression that Ice Edge and Glendale had signed an exclusivity agreement as per the lease on jobing.com arena.
More bad news for the Coyotes business wise. They have only managed to sell 1800 season tickets for the upcoming season. Perhaps the people of Arizona don’t mind watching hockey for free or at extremely discounted prices but are not willing to pony up full price!
The funny thing is I had read rumblings about this a week ago and EVERYONE I talked to said that things were going smoothly so I didn’t mention it. Now I am beginning to wonder if Ice Edge can actually get this deal done. And I also wonder if the City of Glendale truly expected that they would be on the hook for up to $25M in losses this season if they couldn’t find an owner when they voted on that agreement a couple months back.
If Ice Edge can’t get the deal done then in my opinion it is time to cut your losses and sell the team to the Winnipeg group and move on. I know this is the last thing the NHL wants but it may be time to accept the fact that NHL hockey will not work in Glendale Arizona.
Have a good one!
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