Can Greg Jamison Really Agree To This In Glendale...??? (UPDATED)

((HT: AZCentral.com/Lisa Halverstadt))

Or, to be more honest, can anyone really agree to this...??? Especially in advance of the public update Thursday at the Glendale City Council meeting...

The City of Glendale has released its terms for negotiation with Greg Jamison, JEG, and the rest of the world in the short term...

Here's the Arena lease/management part of it...
And here's the "non-competition/non-relocation" part of it...

The city agreement would have Glendale pay roughly $300 million in arena management fees to Jamison and another $24 million in capital funding (presumably for improvements) over the 20-years of any proposed deal. But, and this is a big BUT, Jamison (or whomever) would get $94-million in the first five years of the lease...

Really...???

Glendale thinks they're going to receive upwards of eight figures of revenue from rent and ticket surcharges. What the city doesn't quite realize is that attendance figures won't mesh enough for those kinds of revenue...

The Arizona (ha!) Coyotes (another part of the deal) were last in home attendance averaging almost 800 fans less than the next-to-last place NY Islanders and only had 72.5-percent capacity...

Fans could get Western Conference Semi-Finals tickets for $45 a piece for games in Glendale a day before the game against the LA Kings...

No relocation for the entire term of the lease agreement, either...???
Seriously...

This will fly...???

David Shoalts (@dshoalts) over at the Globe and Mail doubts it...
As does the HQ...

To recap, here's Jamison's appearance in Phoenix to discuss a while back...
((HT: MyGlendale11))


More when we know more...