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The City of Glendale is scrambling for money to pay the NHL

Feb 25, 2012, 7:15 PM EDT Arena

While the rumors about the potential sale of the Phoenix Coyotes roll on, the reality of the situation in Glendale, Arizona remains as uncomfortable as ever.

A report from Cecilia Chan of the Arizona Republic says that the City of Glendale is trying to figure out how to pay the remaining $5 million they owe to the NHL to help cover losses the franchise will incur this season. The city needs to find somewhere in the budget for that money by the end of April when payment is due to the league.

This is a new twist on what is an uncomfortable situation in the desert. Figuring out a city budget to cough up the funds needed to cover money lost means there’s city money not going to cover other needs in Glendale, something that doesn’t sit too well with some citizens and members of the city council.

Depending on what happens with the potential sale to Greg Jamison, the city may have to consider paying another $25 million again next season to make sure the team stays in Glendale for another year. For now, this story is just another sign that while the team is hot and winning on the ice, worries off of it aren’t going away.

  1. t16rich - Feb 25, 2012 at 7:37 PM

    Dont worry about it guys. We’ll be better off without your money.

  2. atwatercrushesokoye - Feb 25, 2012 at 8:28 PM

    Wow, and I thought the City of Calgary Aldermen were anxious to spend other people’s money! As they say there’s a sucker born every minute, maybe Bettman should see if the City of Glendale will start paying for the losses of other teams too?

  3. thegonz13 - Feb 25, 2012 at 9:07 PM

    Just move the damn team to Québec and put the Coyotes out of their misery.

    The move to Arizona was a monumental mistake and Bettman knows it!

    • 4twistedlogic - Feb 26, 2012 at 12:25 AM

      Bah just auction a team in to the northern GTA (aka Markam) with a 100 million location fee to SN/TSN/Leafs with TV rights to all games.

      The league could sell the coytes for $500,000,000+ RIGHT NOW.

  4. pavelfitzgerald - Feb 25, 2012 at 9:14 PM

    Shocker .. .. But Gary Bettman said the NHL would work in Phoenix!! What has it been? 16 straight years of losing money?

  5. thegonz13 - Feb 25, 2012 at 10:27 PM

    Phoenix had 4 teams over the decades and ALL failed. Do the math…

  6. AlohaMrHand - Feb 25, 2012 at 10:56 PM

    now taking the ice..Your Seattle Pikes!!!!!

  7. rainyday56 - Feb 25, 2012 at 11:12 PM

    You can’t tell me they are paying the league in CASH? Municipal goverments in the US have no credit rating and can’t borrow money. So are they bartering the payments with deeds to boarded up gated condos they got stuck with from property tax defaults? Look close at those ads selling cheap sunbelt real estate to see if the vendor named in the fine print for the Arizona propeties is “Coyote Realty” . . .

  8. thegonz13 - Feb 26, 2012 at 8:40 AM

    Forget it. The Coyotes are not worth $500,000,000 and Bettman knows it. No one will spend more than $180 mil on this club, tops. The league might make a little extra on the relocation fees

  9. jhoff1257 - Feb 26, 2012 at 1:15 PM

    “municipal governments in the US have no credit rating.” That may be the dumbest thing I’ve ever heard. STL City has a AAA Credit Rating, and borrows money frequently. All American cities have credit ratings. DUH! Some are just worse than others. I am betting your from Canada….

    • rainyday56 - Feb 26, 2012 at 2:08 PM

      Yep, my brother works for a major Canadian city government. They are on COD with most US vendors now because they won’t give terms to any muni gov’t since the sub-prime fiasco put a bunch of US cities in a cash squeeze dealing with defaulting rate payers, being stuck with worthless realestate developments, hockey franchises, etc.

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