NHL sends Glendale a bill for $25 million
Apr 28, 2011, 3:13 PM | Updated: 4:23 pm
One of the most annoying things in the world to deal with is a receiving a bill you aren’t prepared to pay. The City of Glendale knows that feeling all too well. There bill just happens to be significantly more than you’ll ever be able to put on a credit card.
According to the Arizona Republic, the team has received a bill for $25 million from the NHL to cover part of the $36.6 million losses that were incurred during the 2010-11 season.
The city agreed to pay that amount to the league, who is running the franchise, in exchange for having more time to find a buyer willing to keep the team playing at Jobing.com Arena. They had set aside $25 million from their utilities-repair account to cover the cost but assured tax payers they wouldn’t have to spend it that a new owner would cover the cost.
The bill is now due Monday and Matthew Hulsizer, nor any other potential owner, has stepped up and purchased the team.
It seems ironic that the Goldwater Institute is supposedly fighting to save tax payers money yet by delaying the deal they in effect have cost them $25 million from a fund used to help repair things they use on a daily basis.
While the amount the team has lost will be scrutinized and dissected by detractors of the team and those in favor of relocating them to Canada, you have to keep in mind the fact that without an owner and with the threat of a move looming over them advertisers and fans were reluctant to spend their money.
Unless Glendale, Hulsizer and the league reach some sort of agreement the city will be footing the bill. That or they’ll have one angry creditor in the NHL Board of Governors calling them on a regular basis.
