Hey, it’s actual good news, kind of, from Glendale! Arizona Coyotes owner Anthony LeBlanc says that he expects the parking fees, ticket surcharges, and other revenues his team shares with the city to rise this year from “between six and seven” million dollars to “between seven and eight” million. That’s almost as much as the $9 million a year he promised when signing his new lease deal in 2013! “I mean we’re trending this thing completely towards [our goal],” LeBlanc told Sportsnet.ca.
Of course, the other way of looking at this is that Coyotes payments to Glendale are still falling more than a million dollars a year short. Or that, when you add in the $15 million a year Glendale is paying the Coyotes to run the place, in exchange for less than $8 million a year in revenue shares, that’s a loss of more than $7 million a year — actually an $8.7 million loss this year, according to projections by the city last week, though that may not take into account LeBlanc’s latest rosy projections. Plus add in that the Coyotes owners aren’t paying any rent to help pay off the $12 million a year in annual debt payments on the arena’s initial construction costs and, yeah, this still isn’t working out so well. But it’s maybe working out $1 million less horribly than everyone thought it was last week! Glass half full! Glass half full!