Glendale may shell out $325M in arena deal

Jun 5, 2012, 10:15 AM | Updated: 11:36 am

GLENDALE, Ariz. — A proposed 20-year agreement for a new operator of
Jobing.com Arena could come at great cost to Glendale residents.

The Arizona Republic reported Glendale appears poised to
pay a group led by former San Jose Sharks CEO Greg Jamison nearly $325 million
to operate and make improvements to the venue.

The city released a draft Monday showing Glendale anticipates collecting less
than half of that amount through sales taxes, ticket surcharges and other fees.

The City Council is likely to vote on the deal within the next week.

Glendale has been trying to find a new owner for the Coyotes as it deals with a
$35 million budget shortfall.

The city and the National Hockey League are hoping Jamison will eventually take
over the team.

___

Information from: The Arizona Republic, http://www.azcentral.com

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

A WWII ear landing craft used to transport troops or tanks was revealed on the shoreline near the L...
Associated Press

World War II-era boat emerges from shrinking Lake Mead

A sunken boat dating back to World War II is the latest object to emerge from a shrinking reservoir that straddles Nevada and Arizona.
16 hours ago
Sgt. Rick Lopez (Yavapai County Sheriff’s Office Photos)...
KTAR.com

Memorial service for fallen Yavapai County sergeant to be held at arena

A memorial service for fallen Yavapai County Sheriff’s Office Sgt. Richard Lopez was scheduled for next week at the Findlay Toyota Center in Prescott Valley.
16 hours ago
(YouTube Screenshot/Governor Ned Lamont)...
Danny Shapiro

Connecticut woos Arizona businesses unhappy with state’s abortion law

Connecticut’s top politicians are inviting Arizona businesses to relocate if they are unhappy with the Grand Canyon State’s restrictive abortion laws following the overturning of Roe vs. Wade.
16 hours ago
(Pexels Photo)...
KTAR.com

Police exchange late-night gunfire with man on Phoenix street

Police in Phoenix exchanged gunfire with a man late Thursday and later found him wounded at a home, where they took him into custody.
16 hours ago
The late Sen. John McCain and former U.S. Rep. Gabby Giffords were selected to receive the Presiden...
Kevin Stone

John McCain, Gabby Giffords to receive Presidential Medal of Freedom

A prominent pair of Arizona political figures, the late Sen. John McCain and former Rep. Gabby Giffords, will be awarded the Presidential Medal of Freedom next week.
16 hours ago
(National Park Service Photo)...
KTAR.com

Grand Canyon, Petrified Forest national parks ease fire restrictions

Increased monsoon activity in the Arizona has resulted in a pair of the state's national parks easing fire restrictions.
16 hours ago

Sponsored Articles

...
CANVAS ANNUITY

Best retirement savings rates hit 4.30%

Maximize your retirement savings with guaranteed fixed rates up to 4.30%. Did you know there is a financial product that can give you great interest rates as you build your retirement savings and provide you with a paycheck for life once you retire? It might sound too good to be true but it is not; this product is called an annuity.
...
Christina O’Haver

BE FAST to spot a stroke

Every 40 seconds—that’s how often someone has a stroke in the United States. It’s the fifth leading cause of death among Americans, with someone dying of a stroke every 3.5 minutes.
...
Arizona Division of Problem Gambling

Arizona Division of Problem Gambling provides exclusion solution for young sports bettors

Sports betting in Arizona opened a new world to young adults, one where putting down money on games was as easy as sending a text message.
Glendale may shell out $325M in arena deal