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Glendale, Ariz., considers stadium deal
The city council in Glendale, Ariz., is considering a reworked deal with a proposed buyer of the Phoenix Coyotes hockey team.
The new plan would increase the amount the city would pay Greg Jamison, a former chief executive of the San Jose Sharks, for managing Jobing.com Arena for the next 20 years from $300 million to $308 million, The Arizona Republic reported. But payments would be lower in the early years of the agreement.
Jamison would get $11 million in the first year, $6 million more than a deal the council approved in June.
Jamison has not yet bought the Coyotes but coming to terms with Glendale over the stadium is considered a crucial step. The council discussed the deal Tuesday.
The new terms would cut the amount Glendale would agree to pay for capital improvements over 20 years to $12 million from $24 million. The city would also not have to pay for stadium management in the event of a hockey strike.
A majority of the council members appeared ready to approve the pact. But Mayor Elaine Scruggs said she still has reservations about it.
Copyright 2012 by United Press International