The city of Glendale finally announced its decision in the bidding to run the Gila River Arena now that the Arizona Coyotes management is out, and the winner is … AEG! Let’s have a big hand for the largest arena management behemoth in the nation!
And the question that everyone wants to know the answer to: How much will the city have to pay AEG to keep the lights on at the arena?
Glendale did not release AEG’s proposal, nor the proposals of the other bidders: Spectra by Comcast Spectacor, which formerly was known as Global Spectrum and is based in Philadelphia; and SMG, which is based in West Conshohocken, Pa., in suburban Philadelphia…
[Glendale City Manager Kevin Phelps] expects the city will have to subsidize the arena in the short term, but anticipates the amount will be less than the $6.5 million the city is paying to keep the venue operational.
So, wait, AEG didn’t actually include a price tag in its proposal? Or it’s some kind of floating number dependent on revenues or something? What the hell, Kevin Phelps, we’ve been following this fershlugginer lease battle for years now, we want some answers!
The city and AEG are expected to have something to submit to the city council within 60 days, so at least we should know a bit more by … eesh, April, seriously? The two parties would then need to hash out a lease deal with the Coyotes, at least for the short term, since any new arena the team has planned wouldn’t be ready for a while. (Yes, they could move back in with the Phoenix Suns, but that didn’t work so well the first time.) At this rate, Arizona really could become unlivable due to the heat before the Coyotes situation gets worked out.