Thursday, October 25, 2012

When Does Ironclad Mean Ironclad?

The New York Islanders announced a move to Brooklyn yesterday, complete with 25-year "ironclad" lease.

The Rays supposedly have one of those too (a 30-year deal), but everyone insists they will get out of it.  Of course, few of those people are contract lawyers.

Since pro teams are better at these kind of negotiations than municipalities, there is reason to believe the two contracts are similar (I haven't read the Islanders' contract).

So if the Islanders' contract is "ironclad," so is the Rays', right?  Or is it that promises of an "ironclad" lease is simply a hollow one?

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