To date, the city has received $200,000 in profit-sharing. (The next payment isn't expected until this summer, after the end of the fiscal year, city officials tell New Times.)
In addition, the Republic dutifully reported that in addition to profit-sharing, the Suns pay the city $500,000 in rent each year, with an annual 3 percent increase. And that under a 1988 profit-sharing agreement--renegotiated to the current status in 1994--the city would not have received any profit-sharing revenue by now.
By most accounts, the article was fairly positive--or at least, positively fair--with regard to the Suns and Jerry Colangelo. But not the glowing treatment Colangelo has come to expect.