Gothamite

Lost in all the news about the awful deal Glendale is trying to push for the future is this gem about the bad deal they have now:

$25 million NHL payment will come from Glendale utility fund

Glendale's second $25 million pledge to the National Hockey League largely came from city water and sewer funds, which is not what city administrators said would happen.

Actually, city staff said the money wouldn't be needed at all because they expected the Phoenix Coyotes to be sold. If that had occurred, the pledge to help the NHL cover team losses during the 2011-12 season would have been moot.

That didn't happen and the biggest chunk of the pledge, $15 million, was siphoned from the utility fund into an escrow account awaiting the NHL's bill, which is expected any day.

It's the second year in a row that the city made good on its NHL pledge with help from the utility accounts, which is largely funded by fees, such as water and sanitation, paid by residents and businesses. The enterprise funds are suppose to pay for long-term utility projects, such as sewer plants or pipe replacement.

It gets better:

Councilman Manny Martinez said council was told early this year that the utility funds were used again.

"I wished it didn't happen that way but the options were limited," Martinez said.

That said, Martinez said he is not concerned that the money came out of the enterprise fund because it must be repaid. Glendale begins reimbursing the first $25 million payment next budget year at $1.1 million for 25 years.

So not only are they committing to spend money they don't have in the future, they're already on the hook for repaying in the future money they don't have to cover bills they can't pay today.

This is beyond farce. Time to move the team.

As seen, I've been an advocate of having the team stay for hockey reasons, if it was something even remotely reasonable. It's just never going to be reasonable. Hell even if the team moves, Glendale is still going to be in their own world of .

If the team moves, then Glendale can use the arena for concerts etc without having to pay the exorbitant hockey subsidy. I've seen reports that the city could actually make money on the arena if they didn't have to support the Coyotes.

Having lived 10 minutes from the arena and based on the number and type of non-Coyotes events that roll through the Jobber, I have a hard time believing that. Unless they make money by simply not turning things on. Most of the higher profile events go on at the Univervisty of Phoenix Stadium, US Airways Arena, and even the Ashley Furninture Pavilion. I don't know how many more of those events would transfer to the Jobber, but I just don't see that.

I can believe it. "Arena management" fees would be greatly reduced in that case. They wouldn't need to fill it every night. And you have to remember that $25M of what the city has been losing every season would melt away like ice in the desert.

As seen, I've been an advocate of having the team stay for hockey reasons, if it was something even remotely reasonable. It's just never going to be reasonable. Hell even if the team moves, Glendale is still going to be in their own world of .

If the team moves, then Glendale can use the arena for concerts etc without having to pay the exorbitant hockey subsidy. I've seen reports that the city could actually make money on the arena if they didn't have to support the Coyotes.

I agree it's extremely unlikely. But with him, who knows? Maybe he'll stop funding the Russian national teams since they wouldn't give him the Presidency...

I'm guessing that would be a pretty expensive proposition, even if possible in the first place.

But Prokhorov is rich enough, and has apparently been involved in hockey in Russia, so who knows?

New York Post: Bettman spotted at Barclays Center

Well, it is the Post. So, massive grain of salt.

But still, it would be welcome news.

http://www.glendaleaz.com/documents/ArenaLeaseandManagementAgreement--SubstantialFinalDraft.pdf

Team is changing. 'Arizona' Coyotes coming soon.

If the sale goes through.

And if Goldwater does not sue.

And then if the new owner accepts this agreement without changes.

And then if he then feels like making the name change is "feasible".

So, in other words, not going to happen. "Soon" or any other time. At least, it's no more likely to happen today than it was yesterday.

if the coyotes dont move, who do you think it will be.

If the coyotes don't move, there is no justice in the universe. No other team should be sacrificed on the altar of Bettman's ego.

http://translate.google.com/translate?sl=fr&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Ftvasports.ca%2Ftvasports%2Fhockey%2Farchives%2F2012%2F05%2F20120523-161413.html&act=url

President and CEO of Quebecor would not comment on what happens in Phoenix, or discussions with the NHL. "We should wait for the NHL to comment, it's not for me to do obviously. I know you want more information, but we will stick to this line, "he said.

And that's really good news.

The NHL likes prospective owners that can play ball and keep their mouths shut.

Goldwater has already indicated that the deal under discussion is unacceptable, so there's still hope.

Look, Bettman has convinced a city to drive itself into crippling debt, to the tune of hundreds of millions of dollars, in order to finance a hockey team its citizens don't actually want.

"Stupid" he's not.

A lame-duck team would be the worst possible outcome from his perspective. He would suffer a whole season of humiliation, as every game would be accompanied by a reminder that Bettman couldn't even move a failed team correctly.

Best scenario is to move the team quickly and then try I forget this sorry episode altogether.

I think its like everyone who pawns a ring, they just want the quick and easy cash.

That's why it's so sad.

Yep, I suspect Troy at MEARS would have jumped at the chance to auction this off.

And she wouldn't have gotten pennies on the dollar.

That just shows how messed up this deal is. If Glendale was even paying a reasonable/comparable arena management fee, GWI would probably leave well enough alone.

If Glendale was even paying a reasonable/comparable arena management fee, the NHL would have moved them years ago.

A pawn shop? That's unspeakably sad.

She would have gotten so much more if she put it up for auction, and there's a very good auction house in Milwaukee that could have handled it.

Interesting.

Yep, that'll save Glendale the $35 million.

If the second most delusional person in this fairy tale is starting to wake up, maybe it finally is.

Glendale handed out pink slips to 49 employees Wednesday to help balance a $35 million spending gap in next year's budget.

The city last year handed over $25 million to the National Hockey League to manage the Phoenix Coyotes and arena. It has pledged another $25 million this season, which comes due when the team plays its last game.

So they're laying off city workers and closing off public services, while nearly three-quarters of the city's budget deficit comes directly from subsidizing a hockey team that nobody in town seems to particularly care about.

Pathetic.

relocate the gd'ed team.

And all this time, they're trying to figure out a way to funnel more public money into this sinkhole on ice.

Time to let go of the ego trips. Bettman has to admit that this was a bad relocation. Glendale has to admit that they're not a major-league city.

Glendale handed out pink slips to 49 employees Wednesday to help balance a $35 million spending gap in next year's budget.

The city last year handed over $25 million to the National Hockey League to manage the Phoenix Coyotes and arena. It has pledged another $25 million this season, which comes due when the team plays its last game.

So they're laying off city workers and closing public services because they're broke, while nearly three-quarters of the city's budget deficit comes directly from subsidizing a hockey team that nobody in town seems to particularly care about.

Pathetic.

It might be different in different states. In some cases, there is county or state money involved, but I'm guessing that if a stadium isn't actually within the borders of a city, that city doesn't contribute to it no matter what the team name is.

If the prople over at Goldwater actually believe in the ideals they represent, then they have to get involved. This welfare is simply too outrageous to go unchallenged.

at least the building will be filled in Phoenix.

Not necessarily. Not if people are dumping their tickets that cheaply.

Go bye-bye already, dammit.

Right. Because allowing the team to move would be so much more embarrassing...