Coyotes Revenue Misses Mark
Revenue from Jobing.com Arena’s Phoenix Coyotes games has fallen far short of estimates halfway through the fiscal year.
Photo: Paul Kucher
in Glendale, Ariz.
The Arizona Republic reports the city anticipated the team would bring in $6.8 million annually to help offset the $15 million it pays each year for the franchise to manage the venue.
But city leaders say only $1.9 million has come in halfway through the fiscal year; $2.3 million if sales tax revenue from the arena is factored in.
The city approved a $225 million deal last year to keep the NHL franchise.
Officials say the revenue includes ticket surcharges, parking fees and a portion of income from the arena’s naming rights deal.
Fans avoiding parking fees by parking outside of the paid lots are contributing to the shortfall.