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The Glendale/NHL determination begins to crumble

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Postby Charger27 » Thu Mar 17, 2011 1:01 pm

The Mayor of Glendale has been the first one to actually acknowledge the potential departure of the Coyotes, and a possible timeline.
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The city of Glendale may be forced into a Plan B for Jobing.com Arena and its hockey team - and it won't involve the Phoenix Coyotes.

At a community meeting attended by members of Glendale City council on Tuesday night, Mayor Elaine Scruggs suggested that within a couple of weeks, the city may be faced with pursuing a minor league team as a replacement tenant if the Coyotes leave town.

"We need guidance on this because we could be dealing with this in just a couple of weeks," she said. "I cannot be more serious. We'd need to find a way to cut expenses or raise revenue."

According to a report at the Glendale news site yourwestvalley.com, the 70 people who attended the meeting spoke in favour of the deal where bonds would be sold to help Chicago businessman Matthew Hulsizer purchase the team.

If the bonds do not sell, Scruggs said, the Coyotes are gone. "The team will leave for Canada," she said. "We can argue forever, but it is what it is. This is how things are done in the bond market."

The Goldwater Institute - a local government watchdog group - is threatening to sue if Glendale enters into the bond deal, saying it would put taxpayers at risk and illegally subsidize a private business.

Scruggs said that the city is not fazed by the Goldwater Institute's criticisms.

"The market valuation is done, and the bonds are out on the market," she told yourwestvalley.com. "You all know the ups and downs, turns and twists we've been through, and the council feels we have a good agreement."

TSN link
http://tsn.ca/nhl/story/?id=358400

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