Winnipeg Free Press - ONLINE EDITION
Coyotes’ purchaser could get hefty subsidy from Arizona city
Chicago businessman Matthew Hulsizer will likely buy the Phoenix Coyotes for US$170 million in coming weeks, and $100 million of it might come from the City of Glendale, Arizona.
The city would give Hulsizer that sum for parking rights at Jobing.com Arena, the Coyotes’ Glendale home, according to a proposed lease agreement.
Hulsizer would also receive US$17 million a year to cover Coyotes losses under an agreement by which his ownership group would manage the arena for the city.
If Glendale city council approves the lease, the way is clear for Hulsizer and partners to buy the hockey club.