Phoenix Coyotes Continue To Face Uncertain Future in the Desert
March 3rd, 2011 by Mark Brown Leave a reply »For Mathew Hulsizer, these times are becoming trying and frustrating.
This is probably part of his doing, but also a kind of intransigence to legislative and economic reality.
Nearly three months ago, Hulsizer thought he bought and was ready to take possession of the Phoenix Coyotes. A Glendale, Ariz. city council measure to borrow $125 million in bonds passed, and Hulsizer was on the verge of completing a deal in which he would take control of Jobing.com Arena, the Coyotes' home rink.
The action taken by the city of Glendale, in effect, gives Hulsizer $100 million of the $125 bond money acquired, and Hulsizer would then use that money to buy the Coyotes from the NHL.
The Coyotes success on the ice in the last two seasons is well documented, but their continued future in the desert remains ambiguous.
A consequence of the Glendale plan to borrow up to $125 million in bonds may compromise, delay or abrogate the Hulsizer transaction. Actually, two issues may influence Glendale’s ability to finalize this transaction.
In the meantime, the fate and future of this franchise ...
Read Full Article at Bleacher Report - NHL
Article written by Mark Brown
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