Funny that Jim Balsillie offered $242.5M for them just a year and a half ago, they're now looking at a $170M offer and that hinges on the city of Glendale will be required to pay the new owner $100M and an additional $97M over the next 5 years to manage the arena...for a team that has lost $40M this last year...glad to see the taxpayers picking up the tab. Thankfully the Goldwater Institute (conservative public watchdog) has threatened a lawsuit for violating Arizona's laws against excessive public subsidies.
"Goldwater said even taking the guarantee into account, the fees to be paid to Hulsizer plus the cost of borrowing to make the bond sale “would still leave taxpayers on the hook for as much as $362-million, "
Yeah...that makes sense...I'm sure the taxpayers in Glendale couldn't find a better use of $360+ million dollars...