Are there no Hockey Arenas? What would 50 million buy in your city?

[Safetykitten]

"The Glendale City Council agreed 5-2 late Tuesday to pay the National Hockey League up to an additional $25 million so the Phoenix Coyotes could stay another year in the desert.

The vote came at the end of a standing-room-only meeting that stretched longer than three hours.

The council meeting was the most fractious since Glendale's battle to keep the professional hockey team began publicly two years ago with the team's bankruptcy. Since then, Glendale has sought to find an owner willing to play at the city-owned Jobing.com Arena for years to come."


Read more: http://www.azcentral.com/sports/articles/2011/05/10/20110510glendale-coyotes-vote.html#ixzz1M9vqRJEl

"The city paid $25 million this month to the NHL to fulfill the pledge it made last year to keep the Coyotes through the recently ended season.

In both situations, Glendale officials seemed on the verge of completing a deal with a team buyer. But they said the NHL was prepared to move the team unless the city agreed to cover losses.

The money for the first pledge came from a long-term utilities account. Glendale officials said they had not yet decided where they would pull the second $25 million from but that the city has budgeted for it."


http://www.usatoday.com/sports/hockey/nhl/coyotes/2011-05-11-glendale-arizona-approves-funds_N.htm?csp=34sports&asid=c61fd077