Quote:
Originally Posted by Daradon
On Sportsnet Radio at noon they had an Arizona business writer on that said Glendale had to recently close a fire station cause they didn't have the money to keep it open. Creating average transit times to an area of the city of 12 minutes! I really don't understand the priorities of this council or city. I know they don't want to lose money on the arena, make the best of a bad situation, but it just doesn't seem to make sense.
If they Coyotes leave, they could still bring in a junior team or AHL team could they not? If they can't sell out a NHL game, they might as well try with a smaller team. They would still have concerts at the arena too.
And then they wouldn't lose that 50 mill? Or is that gone either way now?
I still think this is going to cost the city in the long run. And I still think they get moved eventually. And perhaps the guy on the radio was a card carrying member of Goldwater or something and had an axe to grind. Still, seems like a waste of money, especially when it may not even work in the long run.
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Council will be influenced by the overall, broad net cash flow picture, not just today but also into the future.
That would include potential loss of tax revenue or increase in tax revenue from the presence or absence of the team. How does the presence or absence of the team influence further development in the area and how does that also translate into enhanced long term, permanent, cash flow for the city? Those are things not directly contained in the lease or arena management issues, but they do relate to the long term serviceability of the debt carried for the original arena development.
Municipalities declare bankruptcy occasionally. This city deserves it for building a white elephant it couldn't afford, a good lesson for cities everywhere.
But this particular council is dealing with today, not the mistakes of of another council yesterday. The lease is part of it, but there are other, bigger picture components that will go into its decision tonight.
It looks like a deal will be struck.
Cowperson