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 REPORT: GLENDALE BAILING OUT CASH-STRAPPED NHL COYOTES

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PostSubject: REPORT: GLENDALE BAILING OUT CASH-STRAPPED NHL COYOTES   Wed Feb 25, 2009 6:16 pm

REPORT: GLENDALE BAILING OUT CASH-STRAPPED NHL COYOTES
THE CANADIAN PRESS

http://tsn.ca/nhl/story/?id=268504&lid=sublink06&lpos=headlines_nhl

The city of Glendale, Ariz., has been quietly bailing out the money-losing Phoenix Coyotes for several months, according to documents obtained by a Phoenix television station.

A record of lease payments by the Coyotes obtained by TV station KPNX shows the city has been letting the team play virtually rent-free at Jobing.com Arena for seven months.

The station reported on its website that the break could be worth up to US$4 million over the course of a year.

The report says the Coyotes are getting the multi-million-dollar break even as Glendale tries to fill a sizeable hole in its budget.

"They're using that money for their operating money when it should have been paid to the city of Glendale," said city councillor Phil Lieberman.

Some council members said they were unaware the city was bailing the Coyotes out.

"Absolutely I should have been told," said Lieberman, a member of the city council for 17 years.
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PostSubject: Re: REPORT: GLENDALE BAILING OUT CASH-STRAPPED NHL COYOTES   Wed Feb 25, 2009 6:32 pm

Yeah so now you can start to countdown the days for this franchise.
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REPORT: GLENDALE BAILING OUT CASH-STRAPPED NHL COYOTES
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