Surprise! The Phoenix Coyotes are Seven Months Behind on Rent, and Glendale's Been Footing the Bill
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| Jobing.com Arena: Sport squats here. |
The Phoenix Coyotes are seven months behind in rent to Jobing.com Arena, and the city's been footing the bill, the Glendale City Council found out through 12 News.
According to this story on AZCentral.com, Glendale's been letting the team play rent-free at the stadium. The story estimates the team's break on rent from the city could add up to about $4 million over the course of a year, and quotes some unhappy City Council members, who said they were unaware of the behind-the-scenes bailout.
According to this story on AZCentral.com, Glendale's been letting the team play rent-free at the stadium. The story estimates the team's break on rent from the city could add up to about $4 million over the course of a year, and quotes some unhappy City Council members, who said they were unaware of the behind-the-scenes bailout.
"They're using that money for their operating money when it should have been paid to the city of Glendale," Councilman Phil Lieberman alleges.
The disclosure of the Coyotes' freeloading has raised eyebrows because -- despite reports that several investors have expressed interest in buying the team (none of whom have been named, by the way) -- the team's reportedly lost more than $200 million since moving to Glendale in 2003.
Glendale's deeply in debt itself, after borrowing $200 million to build a spring training center for the Los Angeles Dodgers and Chicago White Sox.
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