|Phoenix Coyotes (Photo credit: Wikipedia)|
Lisa Halverstadt, AZCENTRAL.COM — This comes at a time when the city has seen its reserves depleted and faces a $35 million shortfall in next year’s operating budget.
As fans celebrated the Coyotes’ most successful season in Arizona, four of seven Glendale council members directed staff to move forward with a deal that could include the city paying a future Coyotes owner $17 million next year to manage the city-owned arena.
Any negotiated deal would have to return to the council for a formal vote. Beasley previously said he expected such a deal by the end of the month.
The team’s on-ice success and former San Jose Sharks President Greg Jamison’s bid to buy the team have buoyed hopes that a deal to keep the team will finally get done.
City staff say Jamison’s reported 20-year deal would be crucial for Glendale, which counts on hockey visitors to generate sales-tax revenue that helps pay its arena debt.
It’s not the deal the city originally envisioned.