NHL sends $25 million bill to Glendale for Phoenix Coyotes' losses

04-30-2011 • AZcentral.com

Glendale has until Monday to pay $25 million to the National Hockey League to cover this season's Phoenix Coyotes losses, according to a bill sent to the city Tuesday. The documents, sent a week after the team finished its season in the playoffs, show that actual losses for eight months ending in March totaled $36.6 million. Glendale promised the NHL last year that it would set aside $25 million from a utilities-repair account to pay team losses in exchange for more time to land a team owner. For months, the money sat untouched. Glendale officials promised taxpayers at the time that the city would not have to pay the money if it found a buyer. Later, officials said the buyer would cover the expense. But so far, Glendale's deal with team buyer Matthew Hulsizer remains incomplete as the city seeks financing. Glendale spokeswoman Julie Frisoni said the city would audit the figures. She said negotiations continue and the city hopes to close a deal soon.