GLENDALE — Over 100 people, including dozens dressed in Phoenix Coyotes jerseys, showed up at the Glendale City Hall Friday to hear details of a proposed management deal for Jobing.com arena.
The 15-year agreement with the Renaissance Sports and Entertainment Group would keep the Coyotes in Glendale and cost the city $15 million a year.
The city could recoup the costs through ticket surcharges and parking and naming rights fees.
Those surcharges would amount to $4.50 a ticket for hockey and $6.50 a ticket for other events. Parking fees would range from $10 for Coyotes games to $15 for concerts and other attractions.
Attorney Gary Birnboum told the council that if it approves the deal, there could be another way for the city to make money off of it.
“The arena manager (Renaissance Sports and Entertainment) has at least a plan to create a second venue inside the arena’s main bowl for a theatrical event or a smaller concert,” Birnboum said. “The naming rights to that smaller venue would be sold, and the city would get 100 percent of the naming rights revenues.”
Under the plan, both parties could opt out of the agreement after five years if either of them lose $50 million dollars.
Acting City Manager Dick Bowers told the Council by phone that rejecting the deal could leave the city with an immediate financial problem. That’s because Glendale already owes the National Hockey League $25 million dollars for running the arena for two years.
“If this agreement is signed, we will pay that $25 million over the course of five years at $5-million per year,” Bowers told the Council. “If the agreement is not signed, then that $25 million payment is due immediately. ”
City attorneys told the council that the city has never made any money on the arena since it opened in 2003. But Councilman Manny Martinez said that without the Coyotes and the arena, several nearby businesses would never have opened, including the Tanger Outlet Center and Cabela’s.
Martinez thinks that approving the agreement and keeping the Coyotes would be good for business.
“I’ve been told that there’s some businesses that are waiting to see the outcome of these proceedings, and, if the Coyotes stay, there will be an announcement that other businesses are coming in,” Martinez said.
Martinez did not name which businesses might be open in the area.
The Glendale City Council will vote on the proposal at a public meeting on Tuesday night.
- The virus that keeps head and neck cancers on the rise
- State Fair ‘Kid Reporter’ has all the angles covered
- 4 important things to know about timeshare maintenance fees
- Signs of delayed car crash injuries
- The truth about sports concussions
- The Alzheimer's epidemic: Facts you need to know
- The season is here, keep your Fantasy Football team strong all season
- 8 TV shows you can't miss this fall
- Football is here: 6 tips to make this your best season ever
- Gameday recipes and beers to match
- 6 reasons the Cardinals are driven to win the Super Bowl
- The Pac-12 football season nears kickoff
- Tips to get ready for a pain-free golf season
- Protect your family with these 7 home security features
- How to train like an Olympic swimmer
- 2016 Olympics: A guide to must-see TV events
- The bride's guide to feeling your best on your wedding day
- Deciding when you need knee surgery
- Celebrating Fourth of July is much cooler in these AZ towns
- Top ten road trip bathrooms in America
- Six things causing a pain in your neck
- 5 things to make your summer move easier
- Three elements of a strong timeshare exit guarantee
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.
- 6 of the biggest skin cancer myths
- Affordable small home makeover ideas