Hey, so how are Glendale officials doing holding the line on the Phoenix Coyotes‘ demands for $15 million a year in subsidies? As of last month, the city council was only willing to as high as $6 million a year, but apparently that’s changed already:
The source said Glendale could be open to a $10 million per year arena deal but also wants some concerns about the Renaissance bid addressed — especially using city payments for debt service.
Because using city payments to line your pockets is so much better than using it to pay off your bank loans.
On a marginally more hopeful note, Glendale officials also say they don’t want to give the new Coyotes owners an out clause in their lease after a few years, because, well, duh. At least they’re negotiating, I guess, though “We got the team to promise not to leave right away and it’s only costing us $10 million a year in annual payments!” isn’t really the kind of bargain you want to brag too loud about.