Posts tagged ‘Hockey Team’  Another Lesson In Why We Shouldn't
Subsidize Sports Teams  The city of Glendale, Arizona (a 250,000
population suburb of Phoenix) continues to pour money into its
NHL Hockey Team.  The city has already spent $200 million on a
stadium and is trying to find a legal way to hand $100 million
to a private individual to buy the team and keep it in Glendale.
 But that is not even the end of it:  The Phoenix Coyotes are
expected to stay in Glendale at least one more season, with or
without a permanent owner, if the City Council pledges another
$25 million to the National Hockey League.  The cash would go to
offset team and arena losses.....  The pledge is the
second financial promise in as many years.  Glendale this week
paid $25 million it pledged the league a year ago in hopes of
keeping the Coyotes in town until a permanent owner was found.
The city paid this year's $25 million from a utilities-repair
account.  It's unclear whether that same fund would be used
again and when the city w