6/5/12

Ed Mangano's Arizona Plan For New York Islanders

New York Islander Fan Central | 6/05/2012 10:17:00 PM
The New York Islanders/Charles Wang got one of those from Tom Suozzi around the time of the 2002 playoffs. 
Mr Mangano also posted this on the county's facebook page.

Mangano is also throwing Mets baseball around again, not New York Islander Hockey.


Meanwhile in a place serious about keeping it's sports team, even if this still needs some critical approvals, with virtually no time left before the league must make a decision before a 2012-13 schedule is released.

Tucson Citizen   has official details of the proposed taxpayer financing where the Coyotes new potential owner will receive $325 million over 20 years to operate and make improvements to the city-owned Jobing.com arena, at the cost of more than $45 per resident each year over the life of the deal.
 An Arizona Republic analysis of a draft released Monday by the city showed Glendale expects to collect less than half that amount via ticket surcharges, rent, sales tax and other team fees during the same period.
The Glendale City Council is expected to discuss the proposed agreement at a public workshop  Thursday but the city has not set a time for the meeting nor has it scheduled a vote on the deal. A 4-3 council majority would be needed, and the vote is likely to come within a week.
 The current deal allows potential Coyotes owner to keep all revenues to offset expenses and anything left over from the city’s arena fee of $10 million to $20 million a year will help run the hockey team.

NYIFC Comments:
I guess Islander fans should expect Charles Wang to respond by front-loading some player contracts?

In short, Arizona will vote on giving a potential team owner (not fifty year resident Charles Wang after two hundred million in losses over a dozen years/plus the Lighthouse time/effort/financial losses/referendum defeat) a deal better than the one Wang agreed to last summer for a thirty year extension, which had no development rights, or one where a potential Islander owner would not receive a check from Nassau every year to manage the Coliseum for a similar revenue split.

Glendale (if approved) will give all this to the next potential Coyote owner who has not paid a single Coyote player.

Also this is a modern facility. 

Unlike Nassau, Glendale did not waste a year with a referendum to put a $ 45.00 charge on the taxpayers to partly finance this.

Glendale has also paid the NHL fifty million dollars to operate the franchise for the last two seasons.

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