• SHARE:
  • email
  • Bookmark and Share

Goldwater Institute still plans to challenge Coyotes sale despite new terms

PHOENIX - The Goldwater Institute is still planning to legally challenge the proposed sale of the Phoenix Coyotes to Matthew Hulsizer despite the Chicago businessman's willingness to change the terms of the deal.

In a statement Monday, the institute said Hulsizer's changes to the deal are a step in the right direction, but the terms of the sale are still unconstitutional under Arizona law and a risk to taxpayers.

On Sunday, Hulsizer said he will guarantee US$75 million of the $100 million in bonds that the City of Glendale has agreed to sell to help fund the purchase of the team, currently owned by the NHL. He said the other $25 million was going to be paid in cash to the city.

The Goldwater Institute said the revised deal still violates the Arizona state constitution regarding public financing of private transactions.

"The offer recognizes the significant risk to taxpayers under the current deal and to that extent is a positive development," Goldwater Institute president Darcy Olsen said in the statement. "Regrettably, however, the proposal fails to remedy the core legal violation at issue, leaving the expensive taxpayer gamble intact."

Goldwater says it will file a lawsuit if the bonds go on sale.

More Stories

Ice bucket challenge to raise awareness for ALS sweeps through NHL

The Ice Bucket Challenge is sweeping through the NHL as players, coaches, general managers and...

Coach's challenge system, video review dominate NHL general managers meeting

NEW YORK, N.Y. - NHL general managers made some progress toward implementing a coach's challenge...

Stanley Cup final just the latest challenge for Staples Center music director

LOS ANGELES, Calif. - Dieter Ruehle will be providing the musical soundtrack as his beloved...

Finland's Rinne is Canada's biggest challenge at world hockey championship

MINSK, Belarus - In winning its group at the world hockey championship, Team Canada beat...
blog comments powered by Disqus

THN on Twitter

Do you think Marian Hossa belongs in the Hockey Hall of Fame?




Contests

Our Partners