The financial crisis of the Phoenix Coyotes looks like it's taken another turn. According to reports the city of Glendale, a Phoenix offshoot where the Coyotes play, has been allowing the team to play rent-free for the last 7 months; a savings which could amount to $4M over a season. The city of Glendale owns the arena.
It was already reported late last year that the troubled Coyotes franchise is getting their league revenue share early from the NHL to help offset the financial losses. Previous reports suggest that the team has lost $200M since 2001.
No comments:
Post a Comment