Price Of Coyotes Looms

As the Phoenix Coyotes continue their NHL playoff run, the suburb the team plays in faces the reality that it will need to pony up big bucks to keep the team.

Keeping the team in Glendale means paying $15 million annually to keep Jobing.com Arena open. If the team stays, a new owner would ask the city to shoulder that amount to go toward operating costs, City Manager Ed Beasley said.
Meanwhile, Glendale faces a $35 million shortfall in next year’s operating budget.

City staff say former San Jose Sharks President Greg Jamison is bidding to buy the team. Beasley says he’s agreed on a $17 million arena management fee for next year.

Former Coyotes owner Jerry Moyes paid to run the team and the city-owned arena, but recently told Glendale it wasn’t working. He asked city officials for at least $12.5 million in annual assistance but the suburb balked. Beasley said concessions were not open for negotiation.

The arena management fee is now “the price of the team” for Glendale, Beasley said.