Friday, March 16, 2012

Glendale Paying To Keep The Coyotes And Not Public Safety...???

((HT: News12/Phoenix))

There is the point-of-view that what Glendale, Arizona Mayor Elaine Scruggs is doing is keeping the Phoenix Coyotes afloat in her town at the expense of other things that might be more important than a tenant at City Center...

Scruggs can't give updates on the Coyotes status, but the town is on the hook for a lot of money to the NHL just to keep the team around...

Instead of, oh y'know, letting an actual owner with pockets give them a better home or something like that...

What those other aspects of life in Glendale that may be at risk are is addressed below... but the HQ will admit that the sections offered are, probably, some of the easier ones to discuss readily...

Here's Mark Curtis and Melissa Blasius...


Remember, in late January Moody's Investors Service cited Glendale's payouts (which could be in the US$50-million neighborhood this year) to the National Hockey League as it downgraded the city's bond rating on several fronts.

Moody's said the NHL payment led to a drop in reserves in the general fund- from $38.8 million in fiscal year 2010 to $11.7 million last fiscal year.

And this is good business...???

Three groups are in the running, according to optimistic sources, that want to buy the Coyotes and keep them in Phoenix. At the All-Star Game in Ottawa this past season, NHL Commissioner Gary Bettman wouldn't elaborate on the process. But Jeremy Roenick disclosed that he is plugged into the Jamison group that has shown interest.

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