Kukla's Korner Hockey
Coyotes Getting Financial Breaks From Glendale
by Paul on 02/24/09 at 03:18 PM ET
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from Brahm Resnik of the Arizona Republic,
The City of Glendale has been quietly bailing out the money-losing Phoenix Coyotes for several months, according to documents obtained by 12 News.
A record of lease payments by the Coyotes shows the city has been letting the team play virtually rent-free at Jobing.com Arena for seven months. Based on past payments, the break could be worth up to $4 million over the course of a year.
The city is giving the team the multimillion-dollar break even as it tries to plug a multimillion-dollar hole in its own budget.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
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