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The Arizona Coyotes, who lost almost $35 Lane Thomas Jersey million during the 2014-15 NHL season, spent the weekend preparing for a legal battle with city officials in their suburban Phoenix home. At stake: millions of dollars in public subsidies.
Their efforts started Friday after an influential Canadian sports website reported a Glendale, Ariz., leader wants to pursue legal options that would void a 15-year contract that gives the team $15 million per year.
In the article on the , Glendale vice mayor Ian Hugh said the Dominic Leone Jersey $225 million agreement was supposed to go toward operation of Gila River Arena, the Coyotes' 12-year-old home. Hugh said the money is instead going to Fortre s Investment Group, a New York-based a set firm that financed the by IceArizona.
Hugh claims that arrangement is a breach of contract. He hopes to get the city attorney to determine whether Glendale can get out of its contract Willie McGee Jersey .
"The taxpayer got the short end of the stick," Hugh said. "If they call this an investment, you'd think there would be a po sible return. I'm hard pre sed to see the benefits to the city of Glendale."
In March, the for the past fiscal year. According to TSN.ca, financial analysts pegged the teams annual lo ses around $50 million.
On Friday, the . Craig Morgan of Fox Sports Arizona :
"There are so many mistakes in the TSN story today that there are Jedd Gyorko Jersey simply too many to refute. For example, the revenues quoted are off by a significant factor; the Coyotes no longer have a banking relationship with Fortre s; the Coyotes are in compliance with the arena management agreement and there is no basis whatsoever for the city to a sert a Orlando Cepeda Jersey material breach, and on and on.
The Coyotes finished last in the NHL Western Conference this season, at 24-50-8 for 56 points. The team has struggled financially Red Schoendienst Jersey for years. NHL observers expect the team will be forced to relocate, something commi sioner Gary Bettman has vigorously fought for nearly a decade.
Potential relocation sites mentioned include Seattle, Portland, Las Vegas and Kansas City in the U.S., and Quebec City and southern Ontario in Canada.