Glendale’s strategy to keep Coyotes on shaky ground
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.99/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19.95 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 05/03/2011 (5509 days ago), so information in it may no longer be current.
In what appears like a last-ditch effort to keep the Phoenix Coyotes in Arizona, the City of Glendale is expected to file suit on Monday against the Goldwater Institute for interfering in the sale of the National Hockey League team.
Glendale has been attempting to orchestrate a sale of the team to Chicago businessman Matthew Hulsizer. The team is owned by the NHL. The league bought the team out of bankruptcy two summers ago.
Goldwater has opposed the arrangement between Glendale and Hulsizer that would see the Phoenix suburb front the Chicago businessman $100 million of the $170-million purchase price.
Goldwater believes the deal contravenes the gift clause in Arizona’s constitution that prevents government from funding private businesses.
ESPN’s Scott Burnside reported on Saturday night that Glendale will seek damages of more than $500 million.
Glendale had hoped to sell a $116-million bond issue but contends Goldwater’s threat of suit and warnings to investors “severely hindered” the city’s ability to raise the money it hoped to give Hulsizer.
Glendale’s $100 million is to be paid to Hulsizer in exchange for parking rights at Jobing.com Arena, where the Coyotes play. Goldwater contends the parking rights are already owned by the city and are not worth $100 million and therefore the cash is a gift.
Sources say the NHL has shifted from optimism to pessimism on the possibility of the bonds selling and the sale closing.
It’s expected the NHL, should the Coyotes’ sale to Hulsizer falls apart, would turn to True North Sports and Entertainment to discuss a possible sale of the franchise for relocation to Winnipeg.
The league’s patience is reportedly nearing an end, with a resolution required one way or another in a matter of days.
NHL deputy commissioner Bill Daly responded to emails to the Winnipeg Free Press on Saturday night but offered no comment, saying he didn’t wish to speculate.
‘s gary.lawless@freepress.mb.ca