Glendale, buyer agree to deal

The nightmare looks to be over Coyotes fans.  Glendale and the Coyotes new prospective buyer have agreed to a deal that would keep the team in the city for the forseeable future.

Peak6 Investments would receive $197 million over the next five years.  CEO Matthew Hulsizer would receive $100 million of that total.  Glendale will get that money from a bond issue as soon as the deal would be signed.  One of the solutions would be the city charging parking fees in order to help raise some of the $100 million.  The remaining will be given by the city to the organization to help the Coyotes operate the arena for non-hockey events.  Before this proposed deal, the organization had to bear the costs.

The deal is of course pending a vote from the city council, so this isn’t a slam dunk by any means, but it is hard to see the city of Glendale turning this down.  Losing the Coyotes would be a huge financial hit in a time where the economy is struggling.  It is hard to imagine those members of the city council putting Glendale’s economic future in serious jeopardy.

If the city council does agree to this, Coyotes fans across the state would be able to rejoice.  Many fans have been sitting on the edge of their seats not knowing what the future of this organization would be in Arizona.  Now that it is looking like the Desert Dogs will be in Glendale for the coming years, it is time for more fans to start getting behind this hockey team.  There are the diehards like myself out there, but more fans need to get out to the arena.  This is a good young team and they are a lot of fun to watch.  It is time for the people of Arizona to start realizing this, especially with the Suns and Cardinals stinking it up.

For more information regarding this deal, be sure to check out Rebekah Sanders article in the Arizona Republic.

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Tags: Cardinals Glendale Matthew Hulsizer Peak6 Investments Suns

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