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Resource ID: #13641
Subject: Sports
Source: Arizona Republic (Phoenix)
Affiliation: 
Date: December 15, 1996

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Description

After the city of Phoenix renegotiated the deal for the Phoenix Suns to play in America West Arena, Republic reporters took a closer look at the contract. Though the city was supposed to be receiving profit-sharing from the arena, the investigation reveals that the city got nothing in the first two years under the original contract. As for the new deal, most of the money the city was promised was backloaded into the last 10 years of a 40-year deal. After researching the contracts and determining the average age of an NBA arena, the Arizona Republic found that the Suns had an escape clause after year 30 of the contract, and if they exercised it, the city would be out more than $100 million. It's likely they will, since the average age of an NBA arena is about 20 years.

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