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City Of Glendale Spending Money To Keep Coyotes
by Paul on 07/14/09 at 04:20 PM ET
Comments (3)
from Rebekah L. Sanders of the Arizona Republic,
Glendale is spending a small fortune defending its interests in the Phoenix Coyotes bankruptcy case, but city officials say the goldmine at stake is even bigger.
The city hired two law firms, three consultants on team financial affairs and one official spokesman to make sure the hometown hockey team doesn’t hit the road for Canada. Glendale also is putting to use in-house attorneys and marketing staff as behind-the-scenes support.
Losing the team could cost the city $500 million in lost revenue, court documents show.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
Comments
What do you even do with 2 law firms? Oh wait…a top and a bottom. (eeek) If they wanted to keep the team they would’ve structured the deal to allow the Yotes to reduce ticket and concession pricing to bring in more fans. No…at this point they just don’t want the new stadium they built to sit empty 12 months out of the year even if the nhl foots the bill.
At first I didn’t want the yotes to move but you know what…move them…maybe not to hamilton but somewhere far away from the fickle phoniness of Phoenix/Scottsdale/Glendale Arizona. Texas could probably support another team in Austin or Houston.
Posted by stoneman from Vegas on 07/14/09 at 09:56 PM ET
its all about hte money. I really hate this greedy shit. IF the city wants them to stay, then give them a decent deal where they can make money instead of lose money. While the owner of the coyotes has lost over 300 million over the past 10-12 years, the city of arizona has been making 500 million per year. WTF IS THAT>?> That is ridiculous.
There needs to be some serious restructuring in that lease deal to at least make it somewhat fair.
I feel sorry for the fans, but with a greedy gov’t controlling things and only caring about themselves, then the coyotes deserve the chance to move out of that hell hole.
Posted by Luongo-is-my-hero on 07/15/09 at 04:44 AM ET
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So the city really wants the team to stay… maybe they should look at the lease deal that is in place and re-work it so the team maybe could actually make some profit? The city is making 500 mil a year off the team yet the team loses money each year… hmmm… city might need to step up here to take a little less profit so both groups can enjoy the money along with the Arizona sun!
Posted by WingMan from Qc on 07/14/09 at 04:54 PM ET