NHL Sends Glendale $25M Bill

[Eddie_Shack]

Hopefully Glendale handles the bill better than the Oilers...

NHL sends Glendale $25 million bill for Coyotes' losses

Glendale has until Monday to pay $25 million to the National Hockey League to cover this season's Phoenix Coyotes losses, according to a bill sent to the city Tuesday.

The documents, sent a week after the team finished its season in the playoffs, show that actual losses for eight months ending in March totaled $36.6 million.

Glendale promised the NHL last year that it would set aside $25 million from a utilities-repair account to pay team losses in exchange for more time to land a team owner. For months, the money sat untouched.

Glendale officials promised taxpayers at the time that the city would not have to pay the money if it found a buyer. Later, officials said the buyer would cover the expense.

Read more: NHL sends Glendale $25 million bill for Coyotes' losses

I would be furious if my city pumped that much money into something like that, especially if it came from a "utilities repair account". Good luck with those pot holes and sewer main backups.

 

[dash]

You definitely need to take potholes seriously before they become unmanageable...

 

[devs30rko]

I'd be pissed. The. Fuck. Off.

 

[BlueandWhiteForever]

I am not buying this Winnipeg mayor crap for a second. All of a sudden he comes out and says he doesn't think the Coyotes are moving to his city.

Smells a bit like a hush hush move to me.

 

[beantownmaniac]

Hopefully Glendale handles the bill better than the Oilers...

NHL sends Glendale $25 million bill for Coyotes' losses





I would be furious if my city pumped that much money into something like that, especially if it came from a "utilities repair account". Good luck with those pot holes and sewer main backups.

They get potholes in Arizona? What a sucky place to live!!

 

[jstewismybastardson]

one thing i dont get is why the Goldman Inst. threatens to sue over the city promising to give $100 mill to Hulsizer through a bond issue because they are subsidizing/gifting business

yet Goldwater didnt do anything about the city agreeing to fund $25 mill worth of losses out of a utility maintenance fund


whats the difference???

 

[dash]

one thing i dont get is why the Goldman Inst. threatens to sue over the city promising to give $100 mill to Hulsizer through a bond issue because they are subsidizing/gifting business

yet Goldwater didnt do anything about the city agreeing to fund $25 mill worth of losses out of a utility maintenance fund


whats the difference???

The smartass answer is $75 million...

/Maybe they were waiting to see how the Hulsizer deal was being structured and if they were ok with that and the deal closed in time, Hulsizer would be on the hook for the $25 million. That's just a wild ass guess, though.

 

[dash]

Bill has been paid...


Sources tell TSN that the city of Glendale has paid the National Hockey League the $25 million that was due Tuesday.

The league delivered the bill to Glendale, mere days after the Phoenix Coyotes were eliminated from the playoffs.

The $25 million is the amount Glendale committed to paying to cover a portion of the teams losses while the city and league pursued a new owner.

 

[jstewismybastardson]

Bill has been paid...


Sources tell TSN that the city of Glendale has paid the National Hockey League the $25 million that was due Tuesday.

The league delivered the bill to Glendale, mere days after the Phoenix Coyotes were eliminated from the playoffs.

The $25 million is the amount Glendale committed to paying to cover a portion of the teams losses while the city and league pursued a new owner.

say goodbye to clean water Glendale lol