Surprise! The Phoenix Coyotes are Seven Months Behind on Rent, and Glendale's Been Footing the Bill
According to this story on AZCentral.com, Glendale's been letting the team play rent-free at the stadium. The story estimates the team's break on rent from the city could add up to about $4 million over the course of a year, and quotes some unhappy City Council members, who said they were unaware of the behind-the-scenes bailout.
The disclosure of the Coyotes' freeloading has raised eyebrows because -- despite reports that several investors have expressed interest in buying the team (none of whom have been named, by the way) -- the team's reportedly lost more than $200 million since moving to Glendale in 2003.
Glendale's deeply in debt itself, after borrowing $200 million to build a spring training center for the Los Angeles Dodgers and Chicago White Sox.
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