Well it looks like Hulsizers feeble attempt at saving his bid to purchase the Phoenix Coytoes was more "smoke and mirrors." The Goldwater Institute saw right through it, and put the ball back in Hulsizer and the City of Glendale's court. It probably did not help matters much that Hulsizer was quoted to imply that the GWI were "brain dead."
According to the Arizona Republic newspaper, the bonds offered by the city of Glendale for Mr. Hulsizer will ultimately cost taxpayers $250-340 million. That figure includes the initial bond offering of $100 million the city plans to issue to help Mr. Hulsizer buy the team, as well as projected interest on that bond. Additionally the city is obligated to pay Mr. Hulsizer $97 million for arena management over 5 years.
Hang on to your hats, Winnipeg hockey fans. This roller-coaster ride is far from over.
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