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Coyotes Getting Closer To Staying In Glendale

from Lisa Halverstadt of the Arizona Republic,

Glendale’s chief negotiator told the council last week that any deal with a new Coyotes owner will require millions of taxpayer dollars each year. Keeping the team in Glendale means shouldering the cost of managing Jobing.com Arena, where the team plays, City Manager Ed Beasley said.

This comes at a time when the city has seen its reserves depleted and faces a $35 million shortfall in next year’s operating budget.

As fans celebrated the Coyotes’ most successful season in Arizona, four of seven Glendale council members directed staff to move forward with a deal that could include the city paying a future Coyotes owner $17 million next year to manage the city-owned arena.

Any negotiated deal would have to return to the council for a formal vote. Beasley previously said he expected such a deal by the end of the month.

The team’s on-ice success and former San Jose Sharks President Greg Jamison’s bid to buy the team have buoyed hopes that a deal to keep the team will finally get done.

City staff say Jamison’s reported 20-year deal would be crucial for Glendale, which counts on hockey visitors to generate sales-tax revenue that helps pay its arena debt.

read on

Filed in: NHL Teams, d, | KK Hockey | Permalink
 

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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