View Single Post
Old
11-16-2012, 02:14 PM
  #738
aqib
Registered User
 
Join Date: Feb 2012
Posts: 2,356
vCash: 500
Quote:
Originally Posted by Mightygoose View Post
I'm sure the city would love to sell the arena and get it off their books. The stumbling block would be for anyone (state, country, private etc...) to pay what anywhere near what COG want (needs) to clear enough of the buidlings debt and put it behind them
Well they won't get enough money to clear all the debt. They borrowed $180 million to buy the arena from Ellman in 2003 (the deal was structured as Ellman building it and Glendale buying it). But its more of a cut your losses move at this point. Also, let I said earlier, the intangible benefits spread throughout the area and the fan base isn't all Glendale people if they want the team to stay the whole area should chip in

aqib is offline